COVID-19 has shown the fragility of a brick and mortar retailer in a fixed location dependent on foot traffic coming in to buy their limited range of products that are pre-designed and allow no personal expression or authenticity unless what they stock resonates with an individual.
This is a model that has:
- high fixed costs
- high staff costs
- reliant on foot traffic
- inventory wastage and obsolescence
- inventory theft and damage
- subject to landlord conditions, e.g. Westfield
- seasonal discounting and sales a key part of the business
- limited market of people can they appeal to with pre-made designs.
Redbubble on the other hand has proven itself to be antifragile as they have thrived during COVID-19 and literally have something that resonates with EVERYONE allowing themselves personal expression and authenticity. Furthermore, they only make what is ordered so you have much less chance of inventory wastage and obsolete goods. This model has:
- operating leverage now they have surpassed the inflection point
- uses various contractors who as small owners have to deal with the staffing issues and costs
- accessible anywhere in the world
- able to use technology to push relevant products to your email/phone
- minimal inventory wastage due to POD
- plethora or artists designing to appeal to EVERYONE individually,
While Redbubble on the surface could appear “more risky” since it’s a new concept and one people are not familiar with, it may actually be that long term it’s far less risky, influencing and reshaping the traditional offering of pre-designed products which have to try and appeal to as as wide and broad base as possible to generate maximum sales.
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- Redbubble = antifragile.
COVID-19 has shown the fragility of a brick and mortar retailer...
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