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Why Curated's Business Model is so successful?

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Curated’s Company Overview


Curated is a dynamic and innovative company that provides personalized shopping experiences for its customers across various product categories. The company was founded to revolutionize how people shop by delivering a unique and highly customized service. Curated leverages advanced technology and human expertise to match customers with products that suit their needs and preferences perfectly. The company has diverse products, from home goods and fashion to tech gadgets and outdoor gear. Curated's team of expert curators use their extensive knowledge and experience in their respective fields to handpick items that align with each customer's unique style, budget, and lifestyle.

Business Model:

Curated operates a customer-centric business model that combines the power of technology with human expertise. The company uses a sophisticated algorithm to analyze customers' preferences, shopping habits, and feedback. This data is then used to match customers with a personal curator with expertise in the relevant product category. The curator handpicks items they believe will meet customers' needs and sends them a personalized shopping list. This model allows Curated to deliver a highly customized shopping experience tailored to each customer's needs, making shopping more efficient and enjoyable.

Revenue Model:

Curated’s revenue model is primarily commission-based. The company earns a percentage of each sale made through its platform. This commission varies depending on the product category and the price of the item. Additionally, Curated generates revenue through partnerships with brands and retailers. These partners pay Curated a fee to feature their products on the platform and include them in the curated selections. This dual revenue model allows Curated to maintain its personalized service while generating a steady income stream.

https://www.curated.com/

Headquater: New York, New York, US

Foundations date: 2016

Company Type: Private

Sector: Consumer Services

Category: Crowdsourcing

Digital Maturity: Digirati


Curated’s Related Competitors



Curated’s Business Model Canvas


Curated’s Key Partners
  • Talented freelancers from around the world
  • An initial group of partners
Curated’s Key Activities
  • Development and maintenance of codebase
  • Content curation
  • Marketing
  • Legal
Curated’s Key Resources
  • Intern Team
  • Founder
  • Database
  • Platform
Curated’s Value Propositions
  • Best-in-class products and services at preferred prices
  • Offers means of communication and networking between the product or experts and the user
  • Save Time
  • Save Money
Curated’s Customer Relationships
  • Curated's customer service
  • Onboarding
  • Recommendations
  • Google Drive
  • Remote
  • Community
  • User experience
  • Self-service tools
  • Pricing
  • Referrals
Curated’s Customer Segments
  • E-commerce operators
  • Content Curators
  • Online marketers
  • Businesses
Curated’s Channels
  • App
  • Website
  • Demo
  • FAQs
  • Roadmap
  • Chat
  • Blog
  • Twitter
  • Facebook
  • Hacker News
  • Linkedin
Curated’s Cost Structure
  • Service development and maintenance
  • Software development
  • Third party integrations
  • Customer support
  • Marketing
  • Sales
  • Community building
  • Network maintenance
Curated’s Revenue Streams
  • Commission on sales
  • Payment processing fee
  • Transaction fee
  • 3% commision + 30 cents per transaction

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Curated’s Revenue Model


Curated makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:

  • Transaction facilitator
  • eCommerce
  • Curated retail
  • Customer data
  • Customer relationship
  • Digital transformation
  • Online marketplace
  • Experience selling
  • Community-funded
  • Crowdsourcing
Analytics


Market Overview
  • Patterns
  • Sectors
  • Categories
  • Companies
  • Right click on the nodes to explore

Curated’s Case Study


Curated's Case Study

As we navigate through the ever-evolving landscape of consumer services, few companies have managed to capture our attention quite like Curated. Founded in 2016 and headquartered in New York, Curated stands at the confluence of human expertise and cutting-edge technology, fundamentally altering how personalized shopping experiences are delivered. Our exploration of Curated’s success will reveal more than just business strategies; it's a deep dive into an innovative vision that merges advanced analytics with human intuition.

The Genesis of Curated

The story of Curated begins with a simple yet profound mission: to revolutionize the shopping experience. The team behind Curated realized that consumers were often overwhelmed by the vast number of products available online. The traditional e-commerce model did not suffice for customers seeking personalized services. To address these issues, Curated developed an approach that combines AI-driven algorithms with the insights of human experts. From home goods and fashion to tech gadgets and outdoor gear, Curated’s product diversity is robust. However, what truly sets them apart is their team of expert curators. These individuals are not merely employees but passionate specialists in their respective fields—whether it be snowboarding, golf, or fly fishing. They leverage a unique blend of knowledge and interpersonal skills to handpick items that align with each customer's individual style, budget, and lifestyle.

The Business Model: A Symphony of Technology and Human Touch

Our fascination with Curated springs from its ingenious business model, which is built on the marriage of technology with human insight. Here’s how it works: Curated employs a sophisticated algorithm to analyze customer preferences, shopping habits, and feedback. This invaluable data is then used to match customers with a personal curator expert in the relevant product category. Once the match is made, the curator compiles a personalized shopping list tailored to the customer’s unique needs. This model not only streamlines the shopping process but also adds an element of personal touch that is often missing in today’s digital commerce world. According to McKinsey, personalizing the customer experience can lift sales by 10% or more (McKinsey & Company, 2021).

Revenue Streams: Commission Based Dominance and Strategic Partnerships

Curated’s revenue model is dual-faceted and primarily commission-based. The company earns a percentage of each sale made through its platform. This commission varies based on product category and item price. Additionally, Curated has forged strategic partnerships with brands and retailers. These partners pay a fee to feature their products on the platform, effectively including them in the curated selections. This approach provides a steady income stream, allowing Curated to retain its focus on delivering a personalized shopping experience without falling into the typical traps of intrusive advertising. According to Deloitte, companies focused on customer-centric marketing strategies enjoy up to 60% higher profitability (Deloitte Digital, 2022).

The Secret Sauce: Curated’s Unique Value Proposition

So, what makes Curated truly exceptional? The answer lies in its ability to deliver a life-changing, emotional, and functional shopping experience. Curated not only accommodates but elevates customer needs. Social Impact: Curated harnesses a blend of motivation and the sense of belonging. By connecting customers with real experts, it fosters a community atmosphere that goes beyond mere transactions. Emotional Needs: It is not just about buying a product but about experiencing a handpicked selection that speaks to one’s individuality. The design aesthetics and ease of access provided by Curated save customers both time and effort—making the entire experience seamless and enriching. Functional Benefits: The platform simplifies shopping, organizes choices, and connects users with experts, thereby reducing decision fatigue. The quality and variety of products curated by experts assure customers that they are making well-informed purchases.

The Digital Backbone: Maturity and Market Penetration

Curated’s digital maturity is of particular note. As a digirati, Curated operates at the bleeding edge of digital transformation. Its digital infrastructure employs advanced data analytics, streamlines customer relationship management, and optimizes the personalized shopping experience. With channels that include an intuitive app, a comprehensive website, and active social media presence on platforms like Twitter, Facebook, and LinkedIn, Curated ensures that it is always within the customer’s reach. Strategic use of FAQs, demos, and chat support further fortifies customer interactions.

Challenges and Future Outlook

No success story is devoid of obstacles. Curated faces the challenge of maintaining its high level of personalized service as it scales. It must continuously innovate its algorithm and expand its pool of expert curators to meet the growing customer base's demands. Additionally, as a private company, Curated must balance profitability with business sustainability. However, the future looks promising. According to Gartner, 80% of marketers say that their organizations will compete for customer experience in 2023 (Gartner Research, 2023). Given Curated’s head start in combining cutting-edge technology with expert insights, it is well-positioned to lead this trend. In conclusion, Curated serves as a model for how businesses can successfully blend technology with human expertise to deliver unparalleled personalized shopping experiences. Through its dynamic business model, strategic revenue streams, and unwavering focus on customer needs, Curated has carved out a unique niche in the consumer services industry. As we move forward, we expect Curated to continue shaping the future of e-commerce, one personalized shopping experience at a time.


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