We are an Austin based app design company looking for partners to help build and launch an online shopping/ digital closet app. The last couple of years the brick and mortar retail stores have been going bankrupt from dealing with high store rent and a decrease of in person shoppers. The decrease in shoppers is due to the huge increase of online shoppers (in 2019, e-retail sales accounted for 14.1 percent of all retail sales worldwide. This figure is expected to reach 22 percent in 2023), in 2020 there was an estimate of $4 trillion spent on online shopping globally.
While online shopping has been good for businesses it has also been very costly where 15 - 40% of all products purchased online are returned, estimated to be almost $1 trillion a year. We saw this year that retailers were making the decision to allow customers to keep the products instead of paying for the shipping costs for the return.
Since the global pandemic people have been stuck at home, as we start to come out of this situation people are going to start to go back to work and go out socially and need to buy new wardrobes. This app is a game changer for both consumers and retailers alike! Our app concept will allow consumers to become smarter online shoppers, develop a profile to organize their closets and share their fashion sense with friends socially. Consumers will also have the ability to shop from a number of retail sites and visualize what the close might look in real life. For retailers, our app will give them a unique avenue to get exposure and sell their products and help to cut into that percentage of returns they are receiving. There is currently no similar app available that combines these features.
We have spoken to a number of app development companies and received costs on developing an MVP product for both ios and andriod as well as a number of different opportunities to generate revenue using this app.
We would love the opportunity to speak with you and discuss our ideas in more detail as well as provide some more detail on the problem we are trying to solve. We appreciate your time and hope to hear from you soon.
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