1-4 Key elements to JackThread’s business model:
JackThreads presents their members with top-tier contemporary brands and fashion at a discounted price which customers would not be able to find anywhere else. These deals are updated daily and the clothing and accessories are usually up 50% to 80% off the original price. Aiming at a younger, urban male demographic, JackThreads offers deals on streetwear brands that people would not be able to find at most retailer stores. Therefore, once signed up, a member would not only be given these daily deals, but also learn about contemporary brands which are not sold in the major retailing chains.
2. Revenue Model
JackThreads has a sales revenue model. By bringing discounted prices of men fashion brands to their members, the clothing lines pay JackThreads to commercialize their products and JackThreads earn a percentage for each sale.
3. Market Opportunity
JackThreads is one of the only online spaces to find off-prices of contemporary male fashion brands (brands which emphasize their reputation and image). Because of this and because of the daily deals JackThreads offers, the market for these products is very large. Usually the deals sell out throughout the day and when a highly anticipated deal comes out, certain items sell out within a matter of hours.
4. Competitive Environment
JackThreads primary competitors are other fashion discount sites. These sites include:
PLNDR.com – established as the daily deal site for the urban fashion web retailer, KarmaLoop.com. PLNDR.com emails their members when a daily deal is offered and the brand is posted for 3 days. Like JackThreads, the site is members only and offers deals up to 80% for male and female streetwear. link: http://www.plndr.com/
shoplikekings.com – founded in 2010, shoplikekings is an up and coming online male streetwear, discount retailer. They emphasize their strong relationship with many of the top fashion labels and their deals last 48 – 72 hours. link: http://www.shoplikekings.com/
Gilt.com – Gilt MAN was founded in 2009 and is the men-only sale site for the luxury online boutique Gilt Groupe. Gilt offers their members deals of today’s top designer brands. While there is a men section to the main site, Gilt MAN goes beyond the fashion offered there and brings their customers deals to athletic wear, watches, and male gadgets. link: http://www.gilt.com/sale/men
Along with these discount sites, JackThread’s competitors include the websites to the streetwear brands themselves and the large retailer stores.