MIVE is on a mission to help women shop online in the absence of a fitting room and help real women express themselves through style unapologetically.
For women shoppers, MIVE is solving three major problems. It’s difficult to determine if items purchased online will fit. Homogenous site models, “standard” sizing that changes from brand to brand, and inconsistent product reviews make online shopping daunting for many. Especially women who are outside the industry’s definition of “ideal body image. Most multi-brand retailers’ product offerings aren’t inclusive of all body types. Online shopping is seen as a risk, decreasing the willingness to explore new brands online. Given the inconsistent sizing and quality, most women tend to stick with brands they are familiar with, despite having access to an unlimited number of brands that sell online.
For fashion brands, MIVE is addressing the rising cost of returns that are eating away at online sales margins. In the U.S. alone, Statista estimates return deliveries will cost $550 billion by 2020, 75.2% more than four years prior. In addition, and the lack of brand integrity when selling on online retailers is a major concern. Many brands are moving away from Amazon because they recognize they lose control over their brand, in addition to not getting access to data that could help drive future sales.
The women's and girls’ apparel market in 2019 is worth $115 billion dollars according to Statista. We identified this as our total addressable market because we are targeting both teen and adult women (16-39), the most frequent online shoppers with a purchasing power of nearly $200B. We are launching to serve only woman at this stage as 71% of all online fashion clothing, and accessory items were purchased by woman.
The e-commerce clothing industry is expected to grow by 2022 worldwide. Additionally, multi-brand retailers are the “most popular destination” for buying clothing online.
THE MIVE MANIFESTO
MIVE is a multi-brand marketplace that captures a woman’s measurements using an augmented reality measuring tape, so when she shops for products all product photos will be pre-populated with women within one standard deviation of her size. We reward shoppers for leaving high quality product reviews for their purchases to populate these photos, increasing the variety and volume of reviews for the hyper-personalized search.
The customer experience we’ve built allows us to be an analytics enterprise SaaS solution as well. We provide unprecedented insights around not only the metadata most brands exclusively provide, but analytics about the actual bodies of women who wear their clothes, in-depth qualitative feedback from shoppers, corresponding occasion for purchases, purchase trends, and more. With MIVE brands can significantly decrease return deliveries, align themselves with body positive branding, and make data-driven design and marketing decisions.
GO-TO MARKET STRATEGY
We are raising $85,000 to help get MIVE to the App store and acquire our first 2,000 users. This amount will cover:
- Expanding team
- Infrastructure and vendor costs
- Marketing and launch campaign
Thank you so much for supporting us and our mission to make online shopping an equitable and enjoyable experience for women of all shapes, sizes, and identities.