The British fashion app Grabble is now offering stylish mobile shopping in the U.K. with a system that's easy to leverage for retailers big and small. And now, with an extra boost of cash, the developers hope to bring the "Tinder for fashion" app stateside.
Grabble has secured $1.8 million from angel investors in a funding round, showing just how much excitement there is surrounding the venture.
Grabble is being compared to Tinder, a dating app that lets users swipe left or right to indicate whether they find a potential date in their area attractive. Grabble works by letting users swipe through retailers' collections of products on their smartphone, allowing shoppers to pick out items they like by swiping right to add them to their cart. The m-commerce system has proven wildly popular in the U.K., with 50,000 users already registered to shop 450,000 items from 2,000 sites that include brands such as Uniqlo, Topshop, Zara and Urban Outfitters (NASDAQ:URBN).
After a $153 set-up fee, retailers can buy monthly service packages at various levels that fund the app and offer sellers different benefits. The $84 bronze package allows retailers to share product collections with social media, send sales alerts and customize a brand page. The $146 silver package provides featured placement within the app, brand activity notifications for followers, promotions for specific collections and customized cover photos. For roughly $300 the gold package offers all aforementioned features plus a Grabble account manager for the brand.
While the investment has thus far proved worthwhile for large retailers, it could hold the most promise for smaller businesses that haven't yet had the time or money to design a fluid mobile experience for shoppers. Grabble's technology uses "scraping," enabling retailers of all sizes to add products directly from their site, making it a quick and easy way for small businesses to implement a mobile strategy with no complicated tech integration.
And that option should be available to U.S. retailers sooner rather than later, as well as others around the globe.
"Our aim is to launch in the U.S. in the next few months, but we are also looking east, having strategically chosen some influential e-commerce angel investors from Asia that could assist us in these exciting markets where mobile is so prominent," said Joel Freeman, Grabble's co-founder and CEO, in a statement.
The app's arrival will surely have international retailers excited. It won 300,000 clicks within a 14-day period, enough to crash a few retail sites, according to Grabble. The app's developers also promise a 4 percent conversion rate, an improvement over generic searches from engines like Bing, which offers a 3 percent rate, and Google, which offers just a 1.7 percent rate. That's no surprise since consumers are increasingly showing an affinity for m-commerce. A quarter of all digital transactions happen on mobile, and the pace only seems to be increasing.
-See this Grabble press release
-See Grabble's retailer information
-See this PYMNTS story
Starbucks adds Apple Pay, Burger King beefs up mobile ordering
Retailers shift focus away from apps to optimization
Taco Bell's mobile sales 20% higher than in-store orders
Wendy's preps for mobile ordering, payments and rewards
Slyce to buy SnipSnap