As mentioned in our first blog, Rhinestudio is built on three core pillars: impact, purpose and convenience. In this blog, we dissect these three pillars and shed light on the reasoning behind our motto:
Impact is created where purpose meets convenience.
According to the Deloitte Millennial Survey 2020, Millennials and Gen Zs are motivated to actively support businesses and brands after the pandemic, especially smaller and local businesses. Additionally, as discussed by Bo Finneman in the McKinsey podcast Meet Generation Z: Shaping the future of shopping, Gen Z is characterized by a change in values. He states: “They’re looking beyond tangible products and actually trying to understand what is it that makes the company tick. What’s its mission? What’s its purpose? And what is it actually trying to build for us as a society?”
With people increasingly desiring to get to know what is behind the brand, there is a need for brands to reach the right people with their story. Read more about our brands and their stories.
The apparel industry has been hit hard by the Covid-19 pandemic. Although digital sales of fashion is quickly gaining popularity over the past years, it is still a small portion of the total revenue. According to the McKinsey Global Fashion Index analysis, fashion companies are estimated to have seen a dramatic economic year in 2020, with profits declining by 90% on average, compared to a 4% rise in 2019. This has disrupted the fashion industry leading to an acceleration of the digital transformation. In other words: every brand is online now. Although no longer dependent on physical limitations, this doesn’t fully solve the problem. With brands massively shifting their focus to online presence, the digital space is getting crowded. This results in an often chaotic landscape where consumers struggle to find new brands they like and identify with.
Having diagnosed this trend, the fashion industry’s recovery is expected to be characterized by an increase of the influence of marketplaces. Marketplace experiences make it easier for consumers. By offering an overview of all brands that exactly fit in the aesthetic of Rhinestudio, while checking the boxes of sustainability and brand story, we help you navigate your way through the dense forest of fashion brands.
With impact being a broadly used term in different contexts, we feel it’s important that we explain our definition of impact. Our mission is to encourage responsible consumer behaviour and awareness in the long run. By combining purpose and convenience, we strive to empower, educate and inspire people. This way, we play into the trends of people increasingly wanting to make a difference, support sustainable initiatives and get familiar with the stories behind brands. Hence our motto: impact is created where purpose meets convenience.
With the initial launch of Rhinestudio just over a month ago, we look back at an exciting month, with the promise of many things to come. We want to thank all of those who have checked us out, provided us with feedback, spread our message or supported us in any other way. We feel we can confidently conclude that there is a clear demand for a platform like ours, and we were stoked and humbled by the support.