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Utilizing the limitless potential for marketing footwear via the Internet, Shoebuy.com, a recently launched and quickly expanding website has detailed its strategy for capturing market leadership.
The site, located on the Web at www.shoebuy.com, currently boasts more than 100 brands of men's, women's, teen's, and children's shoes - - more than twice the number of labels than its closest online competitor. And, through its factory-direct order fulfillment model - the Company's primary competitive differentiator -- Shoebuy.com is able to offer the most competitive prices accompanied by free shipping and a 30 day money back guarantee. "We have no 'brick and mortar' overhead, hold no inventory and focus on nothing but footwear," explains Scott Savitz, co-founder and president of Shoebuy.com who previously managed the investments of large high tech corporations for a well-known, Boston-based investment firm. "Consequently, we can pass on appreciable savings to our customers; whether it is through our great prices, through discounts we offer for repeat purchases or registering on the site, or through our free shipping, return, and exchange policy ."
Utilizing the limitless potential for marketing footwear via the Internet, Shoebuy.com, a recently launched and quickly expanding website has detailed its strategy for capturing market leadership.
The site, located on the Web at www.shoebuy.com, currently boasts more than 100 brands of men's, women's, teen's, and children's shoes - - more than twice the number of labels than its closest online competitor. And, through its factory-direct order fulfillment model - the Company's primary competitive differentiator -- Shoebuy.com is able to offer the most competitive prices accompanied by free shipping and a 30 day money back guarantee. "We have no 'brick and mortar' overhead, hold no inventory and focus on nothing but footwear," explains Scott Savitz, co-founder and president of Shoebuy.com who previously managed the investments of large high tech corporations for a well-known, Boston-based investment firm. "Consequently, we can pass on appreciable savings to our customers; whether it is through our great prices, through discounts we offer for repeat purchases or registering on the site, or through our free shipping, return, and exchange policy ."
Savitz further explains that, although a "handful" of companies currently market and distribute footwear online, they are generally: manufacturers who sell a single brand; multiple product retailers who sell a limited number of brands; or retailers burdened by store front expenses.
"Much of our competition views the Internet as a necessary evil and has been forced into adopting an online strategy despite the inherent conflicts with in-store pricing and current vendor relationships," said Savitz. We're an Internet pure-play and, as such, can avoid the conflicts that often compromise true savings."
Two Tier Marketing Strategy Targets Catalog Buyers And Working Professionals
In 1998, more than 10 percent of the dollars spent on shoes in the United States -- representing over $4 billion in annual sales -- were sold through single-branded mail order catalogs, confirming that consumers are willing to purchase footwear without having to try it on. Shoebuy.com's marketing efforts will be squarely focused on this audience by exploiting the advantages of Internet shopping and, more specifically, the ease of use of the Shoebuy site. "Our goal is to significantly penetrate the growing mail order shoe business by offering a much greater selection of brands and styles supported by attractive prices," said Savitz.
Additionally, the Company will focus on its target market of working professionals between the ages of 25- 40 who, not so coincidentally, make up the lion share of current Internet users/ online shoppers. "Our feeling is that those already comfortable with the Internet will also be those most willing to buy their footwear online," said Savitz.
Offering Brands That Shape the Footwear Industry
Since its inception in April, 1999, Shoebuy.com has added an average of 9 brands per month to the site, bringing the current total of manufacturers to a previously stated 100 labels. Savitz believes that, in addition to savings, selection is what will bring people to the site and create what he describes as annuity customers. "Many people have a brand or two that they favor, that they buy again and again because they trust the fit, the feel or the quality. We want to meet their needs by establishing relationships with favored manufacturers who lead not only in industry sales but in innovation and style as well," concludes Savitz.
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