Photo Credit: Lootie
Written in partnership with JJL3 Entertainment
Stores being closed because of pandemic restrictions is an issue that poses a serious threat to two types of stakeholders. Firstly, there’s the merchant—a company that wants to sell its goods will now have a much narrower avenue of demand. Previously, a company would get eyes through shop windows and malls alongside the existing online sales. However, this has now been reduced to many online mediums, which can be quite a blow to sales in general. The second affected stakeholder is the consumer—they now have less choice, less freedom, and unfortunately, have less fun with shopping.
Lootie enters stage left, saving the day with a brand new way to shop online. Consumers are no longer locked into the boring, monotonous rut of browsing through review sites, picking the relevant product, and ordering it. The enthusiasm and anticipation we once had in the shopping experience in real life are now translated into an eCommerce platform, all thanks to Lootie. This is owed to the concept of the ‘mystery box’. Mystery box online sites provide boxes that consumers can open—they never know exactly what they are going to get. In fact, mystery boxes can even include items that are worth a lot more than what you paid for them, allowing ways for customers to get access to products they were previously unable to afford. For example, something like a Yeezy box or Off-White Box costs a fraction of what it would cost to actually buy a pair of Yeezy shoes.
Not only is it more thrilling for consumers, but Lootie also helps out the merchants too. It gives them exposure and another avenue for consumers to showcase their demand. With the Hypebeast mystery box and Apple mystery box, for example, those two brands get increased demand thanks to Lootie (since if you purchase something using a Lootie mystery box, the product is purchased directly from the official manufacturer). It’s a synergetic experience that helps lift up everyone involved!
Some people may be wondering—what exactly is it that sets Lootie apart from similar mystery box providers? Why is it Lootie in particular that is saving the day for customers and merchants alike? We can first start thinking about the numbers. In the midst of (and despite) a global pandemic, Lootie has hit over a million registered customers within mere months, and the numbers keep on going up without an end in sight. It is easily one of the fastest-growing eCommerce marketplaces in the world and is the leading platform in the streetwear, sneaker, and Hypebeast industry. The fashion clothing industry has been taken by storm, with lots of new demand being met by Lootie’s mystery boxes instead of your average third-party shop (not only boring but unverified). They simply make the experience better for everyone, which reflects in its satisfaction—it has 4.8 stars on Trustpilot.
Every time an amazing service like Lootie steps up, it expands the entire industry. They as a whole will help the fashion industry explode since people who come to them from other sectors (tech, stickers, etc.) will also see loads of streetwear and fashion merch on Lootie inadvertently. They will thus turn their attention to purchasing more fashion-related boxes since they get interested in the products by association. This is yet another one of many ways in which they have saved fashion brands and consumers! In the end, the larger the fashion industry becomes, the more merchants will be able to flourish and benefit. This kicks in economies of scale, where consumers will be able to purchase the same goods at a lower price point.
Stores are closed, and the economy isn’t doing great. The result is that incomes are lower, unemployment is higher, and people have less disposable income overall. There simply isn’t that much wealth in the system for the average person to be able to afford high-end fashion merchandise, which can sometimes run the bill up thousands of dollars. Lootie saves the day in this facet as well. It has enabled the average person to access expensive shopping at a much more palatable price point through the advent of official mystery boxes. Instead of directly purchasing an Off-White or Yeezy product at an exorbitant price point, they provide the option for customers to purchase a box at a much lower price and discover the product inside. They have ushered in a new paradigm of online shopping—will you be the next one to join the revolution?
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