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Sojung
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Great post, Andy! I have similar thoughts as Reid. I actually use Amazon Pantry quite a bit recently and also another service called Boxed, which is pretty much an online version of Costco. I do assume though they serve pretty different demographics and also geographic coverage (suburb vs. urban). I’ve seen Costco offered in Instacart (on-demand grocery delivery service, as you may know), so I do think that a digital strategy is on Costco’s radar. I’d be interested to see how this develops! On another (slightly random) note, Costco just opened up a couple of years ago in a town I am from in Korea, and to be honest, I was a bit surprised how successful it has been. Average family size is significantly smaller in Korea, and I thought bulk purchasing may seem not as valuable for people there. But I was wrong! They seem to have kept the same business / operating model combo there.
Awesome post! I am a fan of Reformation myself and own a few of their dresses. I absolutely agree that its product has been a critical driver of success. I actually did not know Reformation was an eco-friendly company until I received the dresses I purchased based on their packaging (which is also remarkable – dresses come folded flat in recycled paper envelope) and bunch of “informative” slips that were included. I also have a few questions that come to mind, one of which Sam mentions above re: quality. I’ve noticed myself that after only a wear or two, the dresses lose their shapes. Could the eco-friendly production / material sourcing be influencing the quality / durability of the product? I also wonder if there is a limit to which this company can grow and compete in the general clothes category, etc. I am not that knowledgeable about the retail scene, but I assume they will have to continue expanding its product offerings, and are they limited in a way due to their eco-friendly mission? Thank you!