New York, NY, July 09, 2014 --(PR.com
)-- Vik Venkatraman, the co-founder of Clothes Horse, is set to speak at the New York e-commerce Meetup on July 9th. The meeting will be hosted by Hara Partners, who hosts regular Meetups at their Midtown offices every second Wednesday of each month, on 575 Broadway in the third floor conference room. This Meetup will be focused on e-commerce in fashion.
Venkatraman is a published author, free thinker, and entrepreneur. After graduating with honors from Columbia University, he started a tailored menswear company called V Bespoke, which was the start of his experimentation with the technology that currently makes Clothes Horse so successful.
Within thirty seconds, Clothes Horse can determine how the retailers’ item will fit a customer’s needs. The model is especially effective in reducing the rate of ill-fitting clothes. Clothes Horse’s solution utilizes a unique transaction model that could very well pave the way for the future of all online clothing
Venkatraman realized that 60% of the time that customers returned clothes they bought online, it was because of fit issues. Clothes Horse collects data from over 50 clothing brands, and includes information on size, style, and fit. Users are asked questions such as which band’s dress fits them best, and how well they fit, to which the user can answer with choices such as "perfect," or "not so well." Clothes Horse allows ecommerce merchants to increase sales, decrease returns, and also build customer loyalty.
“We love the Clothes Horse product,” said Reginald Saint-Amand, founder of Modus Man. “It helps customers tell the difference between our brands and the other brands.” (Founder, Modus Man)
Prior to Clothes House, Vik started V Bespoke—a tailored menswear company—with his two current business partners. It was at V Bespoke where Venkatraman began experimenting with the software that made Clothes Horse so successful.
(video embed: http://www.forbes.com/sites/united/2014/01/16/online-fashion-that-fits-clothes-horse-video)
In a world where choices for customers are seemingly infinite, Venkatraman is clearly ahead of the game by utilizing technology that recommends products that are individual to the customer’s tastes. This is useful not only for customers, but also for merchants and retailers.
Similar practices of data collection are now commonplace among many online retailers, who are using social analytics to better understand who they’re selling to. Companies like IBM are now predicting trends that haven’t even yet arrived, such as steampunk (a sub-genre inspired by the popular fashions of Victorian society). While Venkatraman chooses to market to more individual needs, he is using a similar brand of virtual 'fortune telling' that assesses exactly what a customer would want based on the trends and information of what many people would want. It’s only in virtual space that the method can be so automated as it’s been made by Venkatraman. Whereas before, a person could would have to go to a clothing store to be asked questions about what they might want, now they can stay at home and a tool can assess it for them.
Questions such as where these e-commerce techniques may be heading in the future will be addressed during the meet-up.
About Hara Partners: Hara Partners provides innovative e-commerce business solutions based on Magento. We partner with you to allow you streamline and grow your business. We bring our in-depth expertise to your team and add the skills and know-how you need. From concept to execution our single purpose is to deliver powerful solutions so that your company prospers.