Shop My Label website lets anyone become online seller
Shop My Label welcomes you to a “new paradigm.”
Unveiled today, the new website allows anyone to sell wares online through creating his or her very own fashion boutique. Choosing their favorite brands and items to highlight, vendors can turn a profit without launching a private website, having much technical knowhow, buying inventory or paying start-up fees, reported WWD.
The way it works: Would-be merchants craft an online boutique made from a collection of brands and retailers amassed by Shop My Label, naming their store after themselves. The virtual shop is then promoted through typical social media channels such as Facebook, Twitter, Tumblr and YouTube. Both sides profit: Boutique owners receive 5 percent commission on each purchase, while Shop My Label pulls in up to 15 percent commission.
“The technology enables consumers to be their own shopkeepers, and allows them the freedom to curate their own fashion in a way they have never been able to before,” Vince Camuto, founder and chief creative officer of Vince Camuto, said to WWD.
The site hopes to connect individuals passionate about social networking and blogging with the means to curate digital stores full of their fav brands and then peddle to their friends and family – and rake in money. Labels seeking to capitalize off social networking can discover greater sales and increased traffic.
Shopkeepers can fill their boutiques with their personal favorites or pieces geared toward their shoppers. Boutiques could be focused on one customer, with selections personalized just for him or her, or could highlight one brand or many brands. Prices are determined by the brands supplying the items.
“Everybody is talking about customer-centricity. This is what Shop My Label is really about,” explained Mortimer Singer, an investor in Shop My Label and president of Marvin Traub Associates, a company guiding the new business. “It’s a grassroots system to proactively evangelize your favorite brands.”
Sounds good? The site’s competition, StyleOwner, agrees: It‘s marketing the same concept.
“The financial model is revenue sharing — it does eat into retailers’ margins, but retailers are excited by the prospect of new customer acquisition,” Singer said.
Sellers fashion their digital stores through choosing their must-haves from about 1,000 labels, mostly from Saks Fifth Avenue plus 17 other retailers such as the Camuto Group, including its Jessica Simpson Collection; Jones New York brands like Nine West and Rachel Rachel Roy; and Delia’s, Alloy, DL1961, and brands from Accessory Network.
“It’s like an eBay 2.0 if you will — creating a space — but those people needed inventory to sell that maybe came out of the garage,” Dearrick Knupp, CEO of Shop My Label, said. “Here you don’t even need to obtain the product. It’s there for you to select from.”
Check it out at www.shopmylabel.com.
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