The Floorr app aims to revolutionize the multi-billion dollar personal shopping industry by providing a seamless and efficient platform for clients, shoppers, and retailers. Let's delve into how this innovative solution is transforming the way affluent individuals shop for luxury goods.
Transforming the Shopping Experience for the Elite
For high-net-worth individuals who indulge in extravagant shopping sprees, The Floorr offers a unique experience. These elite clients, who are passionate about luxury shopping, are not your average customers. They are known to spend six figures or more on a single order, with annual expenditures exceeding $1 million on clothing, jewelry, and accessories.
The Power of Top Shoppers in the Luxury Market
According to Lupe Puerta, the former head of personal and VIP shopping at Net-a-Porter, the top 2% of shoppers drive a significant portion of a retailer's sales. This elite group of shoppers, responsible for a substantial share of the $400 billion personal luxury goods market, wields immense purchasing power.
Digitizing Personal Shopping with The Floorr
After years of experience at Net-a-Porter, Puerta founded The Floorr to modernize and streamline the personal shopping process. Unlike traditional methods involving fragmented communication through messaging apps and emails, The Floorr provides a centralized platform for personal shoppers to curate looks, track sales, and enhance the overall shopping experience for clients.
Empowering Personal Shoppers
On The Floorr, personal shoppers can create mood boards, conduct virtual styling sessions, and track links to ensure they receive commissions on sales. This not only benefits the clients by offering a cohesive shopping experience but also empowers personal shoppers with valuable data insights on product performance and emerging trends.
Affiliate Marketing Redefined
The Floorr operates on a revenue-sharing model, where the platform earns a percentage of each sale (ranging from 2% to 12%). With renowned retailers and luxury labels onboard, the app provides a personalized shopping experience tailored for the affluent clientele, setting it apart from traditional affiliate marketing programs.
Securing Seed Funding and Future Growth
Despite the challenges of fundraising in a competitive environment, The Floorr successfully raised $1.65 million in seed funding. Supported by industry veterans like Carmen Busquets and Nigora Tokhtabayeva, the app plans to expand its team and enhance its product offering to cater to the evolving needs of luxury shoppers.
By bridging the gap between high-end retailers, discerning clients, and dedicated personal shoppers, The Floorr is poised to revolutionize the luxury personal shopping landscape and set new standards for digital commerce in the affluent market.
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By: mberg@businessinsider.com (Madeline Berg)
Title: The Floorr: Digitizing and Streamlining the Luxury Personal Shopping Experience
Sourced From: www.businessinsider.com/pitch-deck-personal-shopping-app-floorr-used-raise-seed-round-2024-9
Published Date: Sat, 21 Sep 2024 09:52:02 +0000
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