258 – Michael Fox of Shoes of Prey – Core Competency: Customization

Design custom made shoes... Michael Fox,  Co-Founder of Shoes of Prey (manufactured on-demand women’s shoes, in full sizing range) joins Pavan Bahl and guest host Salena Knight (retail strategist, and host of the "Bringing Business to Retail" podcast), on location in Sydney, Australia at Online Retailer City and Nora Network, for a conversation presented by Fluent Commerce. In this episode: Giving the customer what they want, working with several trillion possibilities A team of 200 people globally, headquarters in Los Angeles Word of mouth is the biggest customer acquisition channel, and there are rabid fans The issue with too much choice, too much newness/innovation, why Shoes of Prey is "toning it down" Influencers designing pairs of shoes Innovation is their thing Core competency is on-demand customization—best in the world Trend has been slower than expected in industry Directing core competency to create value for customers, "Cinderella costumers", not in standard shoe width (2/3 of all women) Why heels are so uncomfortable, brands cant hold inventory Potentially higher value for customers with non-standard shoe sizes Partnerships Why manufacturing might move from Asia into local countries Funding to pump money into new business opportunities