In January, Singapore-based startup Smthgood launched their social commerce platform that combines user-generated “lookbooks” with a fashion marketplace that is focused on ‘conscious fashion’ brands –defined as fashion brands with positive environmental and social impact in their mission and operations.
The user journey on the Smthgood platform begins with a quiz that helps set up the algorithm to tailor to users’ tastes and preferences in fashion. It allows them to browse through the collections and create a personalised Lookbook using a virtual styling editor. After that, users can publish their Lookbook and have other users purchase the products directly from these lookbooks.
“Creators are rewarded with Smthgood coins, exchangeable for shopping cashback whenever a purchase is made from their Lookbooks. All these create a discovery-led and gamified shopping experience where users can both inspire and get inspired,” the company explains.
The platform features small- and medium-sized fashion brands from across the Asia Pacific, from Thailand to Australia, with price tags that range from US$20 to US$200.
“All brands on the platform have been carefully curated to align with Smthgood’s values based on three factors: what the item is made of, how the item is made, and the impact of the finished item on the environment. Smthgood aims to provide more personalised user experiences with fashion AI tagging and uplift the conscious brands on its platform,” the company says.
It is one of the startups in the region that aims to cater for the needs of today’s customers, who are becoming increasingly aware of the negative impact of consumerism–and actively looking for a better alternative.
Also Read: Slow fashion is back: How environmental sustainability becomes the hottest trend this season
A different way to purchase
Smthgood targets women aged 16 to 44 as its users, and the creation of the platform is in line with notable changes in user behaviour in the global market today. These changes have become more prevalent in recent years, providing new opportunities for businesses.
In an interview with e27, Smthgood Founding Director Tony K Tan points out the three major trends that the company aims to capture, based on research by leading institutions:
– Sixty per cent of today’s customers are driven by discovery-led inspiration and are looking out for new purchasing experiences (Meta and Bain)
– The market for sustainable products is growing at a much higher speed at 2.7 times (NYU Stern School of Business)
– The year 2022 was the first time purpose-driven buying trumps price-driven buying at 44 per cent to 37 per cent (IBM Institute for Business Value)
These are the opportunities that Smthgood aims to pursue.
“The way we are looking at this is that we are telling a story, not just to people who are already into the conscious [lifestyle], but also to people who are curious, just thinking about it, or hearing about it, but may not know where to start,” Tan explains.
The company believes that it can help promote conscious fashion brands through the way the platform works. By having user-generated lookbooks, instead of one created or curated by fashion editors, they can help build trust in users’ minds that conscious fashion brands can also look good.
But how about fast fashion itself? Does Smthgood see it as a competitor?
“To be honest, fast fashion will always be there. There’s no way to eradicate fast fashion. It’s all about co-existence,” Tan says.
Also Read: How blockchain can enhance sustainability in fashion
Fashionably sustainable
Prior to founding Smthgood, Tan had close to 20 years of business experience across core divisions in an investment bank, including corporate finance, global markets and wealth management.
A lifelong passion for businesses that combine profits and social impact, combines with the opportunity for self-reflection that the pandemic provides, led him to start Smthgood.
When asked about how his background affects how he is running a startup, Tan says that it has definitely influenced his approach.
“In a sense, my experience as a banker allows me a lot of interaction with business owners and companies,” he says.
He lays down the three points that he believes are keys to building a “good business”. The founders have to:
– Have a good understanding of the global trend, where the world is going to
– Build a product that the costumers actually need, instead of what founders believe to be a good product
– Secure the right team members to execute the vision of the products
“By having that understanding of where the world is moving to, it’s the starting point from a macro perspective. Then, if I pull it down to the second level, it’s about what you’re building. Are you building the things that are your product? Are you building something that you would consume?” he explains.
“Ultimately, when everything is out in the market, it’s about iteration. It’s about getting that feedback, and evolving things nimbly using data points.”
Also Read: How the tech-enabled second-hand fashion resale market is growing in Asia
Operating from its base in Singapore, Smthgood is currently fully bootstrapped. While Tan acknowledges that raising external funding can help a business expand, he believes that being bootstrapped also allowed them to focus on launching the product that they envision.
“We are not distracted … It allows us to focus on the vision of what I think this app can be,” he closes.
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Image Credit: Smthgood
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