Every challenge has an opportunity waiting to be discovered.
And that is certainly how e-commerce fashion retailer StyleMode read the business playbook when deciding to choose the tail-end of the lockdown to launch an online fashion business.
Powered by Loot.co.za, StyleMode officially took to the digital fashion runway yesterday to provide savvy shoppers with even more choice on how to dress with flair.
While South Africa may still be a fledgeling in the e-commerce space, the scope for business in this sector is excellent, according to StyleMode, with Statista.com predicting that South Africa’s fashion scene will grow 12.8percent year on year.
E-commerce is expected to take a significant portion of this growth given the accelerated shift to online retail necessitated by the public being housebound this year. Forecasts also suggest that online will amount to 8percent of the total market revenue by 2023.
Loot.co.za chief executive Greg le Roux said StyleMode had been on the cards for a while, as there had long been a gap in the market for a fashion platform to challenge the established players in this space.
“Although Covid-19 has slowed down certain aspects of the economy, we have been heartened by the rapid transition of the South African buying public to online retail brought about by enforced lockdowns, which augurs well for this new business.
“Choosing to launch StyleMode now is not only about creating a commercial advantage for the upcoming summer season, but a commitment to the brands and suppliers we have formed relationships with over the months of developing the business and building the platform, and who deserve the support, in what is still, a challenging economic environment,” he said.
StyleMode differentiates itself by being the first fashion platform in South Africa to launch with its own private label collection – StyleMode the label, Miss Mode, La Mode, and ModeCurve – which will be manufactured in Cape Town, by predominantly women-owned businesses.
The platform was launched with a carefully curated capsule collection, which will be significantly expanded in the first quarter of 2021.
The platform also makes searching for a product easier, as it can be discovered by size, price, brand and even colour.
The company said more user-friendly functionalities were in the pipeline for early 2021. In 2020, however, StyleMode said it would also have something for the eagerly anticipated Black Friday shopping bonanza.
“I would like to acknowledge and congratulate the team for their exceptional work in getting StyleMode to this point – if effort equals output, then I know this will be a success from the get-go, and I look forward to seeing the platform become an established contributor to the fashion scene, in a very short space of time,” said Le Roux.
Loot.co.za, which has seen a sharp increase in traffic and sales this year, will provide the backbone, infrastructure and payment options for the new platform, including direct deposit for those without credit card or online activated debit cards.