Whether online or offline, clothing is a stable category, with multiple sub categories such as men's clothing, women's clothing, and children's clothing. The prosperity of the e-commerce industry has also promoted the development of the clothing industry, with outstanding players such asSHEIN. After the launch of the children's clothing brand PatPat, another children's clothing brandKidpik is going public on NASDAQ, raising approximately $18 million through its initial public offering.
Kidpik was founded in 2016 as a children's clothing brand, with its unique online subscription model. Kidpik sends out a surprise gift box every month or quarter, carefully planned according to the child's style, providing mixed and professional clothing styles. Each seasonal collection is designed internally by a team with decades of experience in children's clothing design.
(Image sourceKidpik official website)
According to recent reportsAccording to the third quarter financial report released by Kidpik,The net sales for the third quarter and the first nine months of this year were $5.6 million and $16.6 million, respectively, an increase of 20.3% and 49.5%. Subscription services account for approximately 85% of the overall sales revenue,The first selected girls' fashion box was shipped on March 18, 2016,And shipped the millionth subscription box in April 2021.
To start subscribing, consumers need to fill out a small survey about their children's size and style preferences, such as color, fabric, personal style, etc. Professional matching knowledge and simple shopping experience have captured the pain points of shopping, saving parents a lot of time. It is precisely because of this unique subscription model that,Kidpik can also achieve good results in the children's clothing market.
Kidpik adopts a multi-channel layout. Amazon, Wal Mart, and independent stations all have sales, attracting traffic in many ways.Meanwhile,Kidpik also focuses on investing in social media,A significant portion of user growth comes from social media marketing, with advertising ranging from YouTube, Snapchat, TikTok, Pinterest, and partnerships with online brands, as well as plans to enter new channels such as broadcasting and connected television.
meanwhileKidpik also continuously explores new channels and actively expands its new product line,For example, increasing boys' clothing and toddler sizes. In order to enhance its competitiveness in the market, Kidpik has also increased its investment in proprietary technology and algorithmic capabilities, collecting consumer data through interactive tests, enabling us to provide unique personalized experiences in each box. When consumers retain and return items, the algorithm improves their understanding of personal preferences, thereby enhancing personalization.
according toStatista's report,The total sales of children's clothing categories in 2021 will reach approximately 258 billion US dollars,It is expected that the United States will generate approximately$49.5 billion and expected to grow at a compound growth rate.
Although the clothing market is hot, in order to compete for a place on the crowded track, sellers also need to pay more attention to fashion trends and invest more effort in product development innovation.