“The Internet is the first thing that humanity has built that humanity doesn’t understand, the largest experiment in anarchy that we have ever had.” – Eric Schmidt, CEO – Google.
On 17 Nov 2010, Google announced its foray into the online fashion industry by launching Boutiques.Com – A fashion centred search platform, which lets its users find and discover fashion goods/ accessories through a collection of boutiques customized by celebrities, stylists, designers, and fashion bloggers.
Experts say that, Google aims to become the first stop for online shoppers of apparel and accessories. As expected, Boutiques.com doesn’t sell the items on its own, it just guides the users reach the best possible purchase decision with the help of multiple parameters and its internal algorithm. The products listed, comes from hundreds of online merchants such as Ralph Lauren, Steve Madden and Juicy Couture and boutiques.com directs the shoppers to original merchant’s sites when they are ready to make a buy.
The big question many fashion industry experts asked – Why is Google taking such active interest in such a niche market. The fact of the matter is that, the online fashion market is a rapidly growing segment and is touted as the next big thing in the world of e commerce.
The retailers along with fashion labels have realised that now is the time to jump into the bandwagon and profit by becoming early adapters otherwise they will remain behind in the race and watch a golden opportunity being missed by a whisker.
Many fashion business houses including the exporters and manufacturers are trying to evaluate the pros and cons of such services and how much can they benefit from the same (after the hype).
Fashion accessories suppliers are more excited about this as their stuff like jewelry, gloves, handbags, hats, belts, scarves, watches, sunglasses is a relatively easy proposition to sell rather than the actual dresses or other high end products. These accessories have a predefined and widely accepted shapes and size and doesn’t need too much of a – personal look and feel experience, making it an attractive segment to sell/promote online.
Fashion accessories industry has given a thumbs up to Google’s initiative with a general feeling that it might become a turning point, in the times to come for the e-commerce industry. As Google itself say that – market for soft goods online is growing tremendously, its time for the fashion pundits to take a pro active approach and laugh their way to the bank.