Top new businesses of 2016: Bijou Commerce
The SaaS platform helping fashion brands create a Tinder-style shopping experience
Founder: Olly Cooper
Launched: January 2016
Despite estimates that 85% of consumers prefer to make purchases using mobile native apps, only 2.3% of retailers believe that their business provides an optimal online shopping experience.
Enter Startups 100-listed Bijou Commerce; an 11-month old B2B start-up which seeks to help fashion retailers increase revenue via optimised e-commerce apps.
Launched by marketing professional Olly Cooper, Bijou Commerce’s platform provides fashion retail customers with a Tinder-style shopping experience. Presented with one product image at a time, customers must swipe left or right depending on whether they like or dislike the garment.
This swiping action then generates an approval rating for each item, which retailers can use to inform future stock ordering. Algorithms based on the data gathered also build up an increasingly personalised interface for the shopper.
According to Bijou Commerce, this simple and optimised process produces conversion rates three to five times higher than the typical benchmarks of other mobile commerce platforms.
For this service, clients enter into two year contracts with Bijou, paying a development charge, a monthly service charge and a performance-based incentive bonus.
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In March 2016, Bijou Commerce confirmed that it had secured £2m in a funding round led by venture firm Blenheim Chalcot, New Look founder Tom Singh, and former MD of Google UK and Ireland, Dan Cobley.
With fashion and tech giants backing the platform, teams of staff stationed across the globe (it has an office in India), and a mission to drive revenue for brands, we predict big things for Bijou Commerce over the course of the next year.