Foot Locker is a sportswear & footwear retailer, founded in 1974 and established itself as a separate company in 1988. It is headquartered in New York and operates in nearly 28 countries with 539 champs shorts stores. In 2015, the company launched its mobile app that can be accessed on both Android & iOS.
Since its establishment, this company has kept on coming with new strategies to implement, which are on the basis of the changing market trends. The company has focused on increasing its loyal customer base with the implementation of the loyalty program through the app.
The indisputable fact is that its strategy formulation upon mobile apps is the preliminary reason for increasing sales and boosting profits. Visualizing its success, the aspiring entrepreneurs want to make their first move by stepping into the flourishing online marketplace with a Foot Locker Clone app.
Insights into stats & facts of Foot Locker
As affirmation for the statement as mentioned earlier, this section will give deeper insights into the impressive statistics and facts of Foot Locker. Have a glance at it.
- FootLocker is an American-based multinational company, with a focus on athletic footwear and sportswear. Established in 1974, it has more than 3000 operational stores.
- It is operating worldwide with its own brand name alongside other brands/stores. This may include Lady Foot Locker, Kids Foot Locker, Footaction, Champs Sports, Runners Point, and Sidestep.
- Even though it started its operation in the United States, it gained popularity across many countries in the world.
- In 2019, its net sales were $8billion and its gross profit margin was approximately $2.5 billion. In 2020, net sales reached $5.45 billion worldwide. The net income in the same year was about $323 million.
- According to the survey conducted, people aged between 18 and 29 have shown interest in shopping through Foot Locker.
The net worth of the global apparel and footwear industry in 2019 was $1.9 trillion. This is expected to grow and reach $3.3 trillion by 2030. Therefore, starting a sportswear and footwear business is a profitable niche to contemplate in 2021 as it has better prospects. Foot Locker Clone app development might be the breakthrough you are waiting for.
Stay tuned with trends to grow your ecommerce business: Strategies
It is very sure that the ecommerce industry will continue to boom in the upcoming years. So, there will be an expectation that many entrepreneurs may take this chance and launch an ecommerce app. It will be an arduous experience to put up your business and stay successful for a long time. Here are a few of the strategies you could look through to transform your business into a prosperous one.
- The first & foremost thing is to concentrate on gathering customer data to give personalized product recommendations. This will pave an excellent way to target the right set of audiences and boost sales.
- Social media integration and marketing is the key to reaching out to wider audiences. Make use of the popular social media channels and promote your service/brand accordingly.
- A Flash sale is one effective way to get attention from customers and gain profits in a short span. Thus, providing discounts on occasions urges them to purchase products even when there are no requirements.
- Last but not least, plan for global launch. This ensures to uplift your business to a greater extent. Furthermore, it is mandatory to have unique selling points, paving the path to stand amongst your competitors.
How can you generate income from an ecommerce fashion app?
The strategies you formulate to generate income depending on the business model you implement. Let’s look at the possible ways in which you can make considerable revenue from ecommerce fashion apps.
The sellers registered in the ecommerce app can be charged a fixed subscription fee for selling sneakers, apparel, and many other products. The app owner can set a subscription percentage amount which will bring constant revenue.
It is one of the stable income-generating ways in which you can cut down a particular percentage of the commission fee and transfer the remaining to the sellers when customers make purchases. Typically, the commission percentage may range between 5% and 20%.
Owning the logistics network to deliver ordered products to the customers will bring forth substantial revenue when you get many orders from broader customers. The charge will be based on the delivery location, order quantity, and many more factors.
It is not a necessity to choose the prevalent revenue models to implement. You can even come up with new monetization strategies with some tweaks in the standard ecommerce business model.
Ahead of the curve with a Foot Locker Clone app! Where to get it?
Once you have sketched your ecommerce app idea, it is more necessary to do market research for formulating a successful business plan. This will aid you in opting for the right set of features during ecommerce Clone app development.
Never opt-out of the standard features. Meantime, you could contemplate incorporating new features, appealing to customers. The simple yet intuitive user interface is much needed for mobile apps and so focus on providing smooth & seamless navigation.
At UberLikeApp, we provide custom-built ecommerce apps which will be readily available to deploy after tweaks. We refine the app based on your demands. Reach out to us! Get our ready-to-go Foot Locker Clone app and launch it right away. Be the early captivator to hit the thriving ecommerce industry with your app.
The size of the global fashion e-commerce market in 2020 was $725.5 billion, projected to grow at 9.1% and reach $1.1647 billion by 2025. This prospect ensures that there will be a high scope of ecommerce business across the world. Why wait? Capitalize this wonderful chance, launch a Foot Locker Clone app right away, and revolutionize the industry.