May 19, 2022

3 takeaways from Everlane's radical positioning

Fashion models standing

In this week’s Edit, we dug into how a great story can position you for explosive growth by dissecting Everlane, the clothes retailer who grew to $100m revenue in just 6 years. We talk radical positioning. Waitlists. And ditching the discounts. As always, you’ll find our top actionable insights explored ready to apply to your business.

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How will you grow?

PPC. FB. Insta. Maybe even TikTok, Snap or SEO.

They’re all valid channels to grow your eCommerce business with.

But in a super-competitive market, how do you stand out? And find your next breakout growth lever?

Here’s a thought. Radical transparency.

You might know the story of Everlane (it’s an old one, after all).

A clothes retailer with purpose baked right into their brand. Founded in 2010 by Michael Preysman and Jesse Farmer, the company based their brand and model on three values: Exceptional quality. Ethical factories. And radical Transparency. Targeted at millennials, the company captured consumer imaginations with a completely transparent view of their supply chain - and how much money it takes to produce their products. And that inspired sales and unparalleled brand loyalty that fuelled their meteoric growth - from 0 to $100m revenue in just 6 years.

But don’t take our word for it; dig into their story with this article from Fast Company.

Inspired? See how you can put this thinking into action with our top tactics from Everlane's brand strategy today.

 

Apply these tactics today.

Here are our top takeouts to apply to your business.

📦  Stock less than you’ll sell and never discount a thing.

Everlane never offer discounts. Minimalist inventory keeps costs low, builds anticipation and FOMO with waitlist scarcity and leans nicely into their ‘radical transparency’ approach, showing that the price is fair. It works. Everlane’s high-end ‘Petra’ purse collection was a run of 1000 bags priced from $325 to $425. There is a waiting list of nearly 6,500 people for the next batch. Read about it on QZ here.

🎈 Positioning with purpose & authenticity can be a HUGE differentiator is a tough market.

Everlane’s vision is “Exceptional quality. Ethical factories. Radical transparency”. They build this into everything they do. Their target market is clear: millennials who value ethics as much as their product. The fact that their minimalist basics feels like a uniform plays to their advantage: it helps wearers to signal their beliefs and choices. Read more on why Everlane is a millennial fever dream here. Watch outs when it goes wrong from the NYT and how you can build your story with a Forward favourite, the Storybrand framework.  

🛍 Pricing strategy FTW.

It’s not all unicorns and rainbows at Everlane HQ. Beneath the vision and purpose there’s a savvy marketing machine. Need the TL;DR take-outs? Price deliberately to create easier shopping experiences. Boost prices with new arrival marketing. And launch your product before it’s ready with a ‘future products’ feature. Dig into their pricing strategy in this neat teardown.

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