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Etailer offers unique customer experience in inventory redux strategy

Everlane, a clothing etailer, hopes to reduce inventory by allowing shoppers to choose one of three price points on certain clothing in a special five-day event.

December 29, 2015

An online retailer striving to reduce inventory overstock is allowing consumers to choose one of three proposed price points on certain clothing in a special five-day event.

Everlane's "choose your price" option is an "exclusive event" that offers consumers a spate of various clothing and footwear available at three price points. The three choices are: Cost of production and shipping; cost of production, shipping and overhead; and cost of production, shipping, ‘team’ cost and the cost to invest in growth.

For example, the cost of the company's wide leg structure plant ranges from $43 to $52 to $72 respectively.

"Sometimes we love a design so much that we overproduce it. We're getting better at predicting demand, but to move overstock, this week we're letting you choose your price. Enjoy,” according to the website explanation regarding the unique sales event.

The sales program is right in line with the company’s transparent philosophy that states customers should be given insight on actual product costs and related sales price.

"We believe customers have the right to know what their products cost to make. At Everlane we reveal our true costs, and then we show you our markup. In traditional retail a designer shirt is marked up 8x by the time it reaches the customer. By being online only, we eliminate brick-and-mortar expenses and pass these savings on to you," states the company, which was launched by Michael Preysman in the fall of 2010. The company's website describes the Everlane team is "a motley group held together by a shared passion for pushing boundaries and challenging conventions."

In another unique business twist, Everlane's job postings provide additional insight on how it approaches online retail and what it's looking for in hiring team members. Job hunters are offered the chance to name your job and can offer insight on the role they're seeking and related qualifications.