Socksoho harnesses AI technology for growth
Sock brand Socksoho is growing its business by harnessing and expanding its use of AI technology and, experiencing swift growth, plans to add a menswear line soon.
Socksoho, which began retailing its collection of brightly coloured socks ten months ago, now has 30,000 customers, brand founder Pritika Mehta told Tech Crunch. As the brand scales up its operations, it plans to increase its use of technology including proprietary chatbots and AI-based recommendation engines.
Socksoho founder Mehta has a background in data science and her brand recently completed start-up accelerator Y Combinator’s Summer 2020 programme.
“We are basically gathering data points to understand customer behaviour and spending patterns, and those insights help us refine every single thing that we are building, from our designs to marketing and inventory planning, and even expanding into future verticals,” said Mehta.
“We are building this proprietary software inside the company, which can actually replicate the human experience,” said Mehta.
“We are collecting all the data, all the interactions that are happening currently with customers to understand the language, the data and the kind of experience they like.”
The brand has acquired many of its customers from the messaging app Whatsapp, reporting that 70% of its sales have come from the app. The brand also utilises Whatsapp, where customer interaction is swift and simple, to market its products and test out new ideas. As well as Whatsapp, Socksoho also retails through its own e-commerce store and has a presence on multi-brand platforms.
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