Mon Purse head of eCommerce and digital James Hopkins explains how plans for mobile will drive further growth and store expansion for the brand in 2017.
Where do you see the broader online retail market heading in 2017: what are the opportunities and what are the challenges?
The broader online retail market will continue to become more competitive as global players continue to knock down international boundaries and seek new markets to drive their brand and sales.
Price will therefore continue to be a major differentiator for traditional retailers that lack a point of difference or the ability to innovate - you're going to see more retailers on sale more of the time as that's the most significant tool they have in their belt when they need to pick up their pacing.
The opportunity is as always to come up with something nobody else is doing. Be the first to market and lead your sector so you stand out. Disruption in retail is majorly undercooked.
What is the biggest growing area of your business?
As a multi-channel retailer each area of the business grows very much in line and in sync with the surrounding channels. Online drives in-store and vice versa.
Our growth has been across the board - retail locations, product lines, adoption and use of the 3D Bag Builder, team members, customer base, customer retention, average order values. All key metrics are heading in the right direction.
How did this area perform in 2016 and what are your projections for 2017?
Since launching in late 2014 as an online pure play, Mon Purse is up in excess of 8000% and now has 10 retail locations.
What percentage of your sales are on mobile - do you expect this to grow?
Approx. 45% - absolutely! Mobile will continue to be an area of investment for the foreseeable future. Consumer habits would need to make a sharp turn for that to change.
Will you be launching any major initiatives in 2017?
We're currently opening a store at a rate of every 45 days, and there could be more of this to come in 2017. Expect to see authentic collaborations with like-minded brands and individuals. Our bag builder with more than 6 billion design possibilities - expect to see 10 times that.