E-Commerce site Olivela has launched today with a socially conscious, for-profit business model.
Selling 'just-past-season' designer accessories, Olivela donates a portion of each sale to worthwhile causes like the Malala Fund and Jessica Seinfeld's Good+Foundation. With expertly curated brands like Stella McCartney, Valentino and Dolce & Gabbana available at a discount, this new luxury retailer is making waves in the e-commerce space. Olivela was founded by Stacey Boyd, a Harvard MBA and Masters of Public Policy graduate.
The site offers a completely transparent shopping experience by allowing consumers to see how much of a donation their purchase would make. The site will also track consumers' contributions each time they shop on a personal dashboard. Boyd believes the philanthropic aspect to the e-commerce site Olivela will push consumers to make a purchase they were on the fence about. "While the merchandise is gorgeous and alluring, I know from my experience in shopping editorial and fashion editorial, that women and shoppers in general are always looking for that additional push to get them to transact."
Philanthropic Luxury Retailers
E-commerce Site Olivela Sells Just-Past-Season Fashions
Trend Themes
1. Philanthropic E-commerce - The combination of online shopping and philanthropy is a growing trend that allows consumers to feel good about their purchases and make a difference.
2. Transparent Donations - Giving consumers the ability to see exactly how much of their purchase goes towards a specific cause is becoming more important in creating trust and loyalty.
3. Just-past-season Sales - The trend of selling designer items just after they're out of season, or that are overstocked, allows luxury items to be sold at a discount and appeal to a wider audience.
Industry Implications
1. Luxury Retail - Luxury retailers are finding success in creating socially conscious business models, making it easier for consumers to justify purchasing expensive items.
2. E-commerce - Socially conscious e-commerce sites like Olivela are disrupting traditional online shopping experiences and creating new opportunities for sustainable business models.
3. Philanthropy - Using philanthropy as a core part of a business model is becoming more popular and can be applied to a variety of industries, creating opportunities for social change.