CROWDSOURCING IN FASHION
Crowdsourcing is fostering a new age in creative, ethical, and environmentally sound designs from largely unknown talent looking to make their name. New small private brands and designers can collaborate with the crowd on Crowdholding to effectively create a community around their brands.
It’s not just new brands and designers that can use crowdsourcing; it’s a tool employed by even the most established designers in the fashion industry.It also allows customers to shop for quality practical designs with a clear conscience and even invest in new lines and enterprises.
For the designers at large retailers, handing over creative control to the consumer is unrealistic, but that doesn’t mean there aren’t uses for crowdsourcing in this segment too. A winning combination of crowdsourced opinion (which will guarantee garments stocked will be popular!) and gamification, without having to alter the design process. Crowdholding takes this process one step further, by also reimbursing the crowd for their ideas with future revenue from the fashion garments they helped co-create.
In the competitive world of fashion, more aspiring designers hoping to be the next Alexander McQueen or Vivien Westwood are finding a financial support and voice for their projects through crowdfunding. Indeed, crowdfunding is steadily changing the world of fashion, but not just by enabling more designers to have their work noticed and financed. It is attracting new and creative designs, and is even generating a focus on ethically produced and eco-friendly pieces that are not always found in the high-end fashion industry.
“A fashion designer’s mission is to create something the public needs or wants before they even know it. If suggestions are part of the mix, they are coming from a Creative Director, a Buyer for a store or a trusted colleague. Information from a stranger, though kind enough to pay in advance for merchandise down the road, is not necessarily the voice a designer is likely to take as gospel.”
Cameesa, bought by Zazzle, offers freelance designers the opportunity to gain recognition for their work whilst securing funding for their line. Designs are submitted and then selected by a panel who then put them forward for funding. Interested investors can purchase a t-shirt which they will receive if the design reaches its funding target, not only entitling them to their own t-shirt but also a small percentage of future sales.
Any business that attempts to break up the cliquey nature of the fashion industry should be applauded. In the age of the so-called Web 2.0, the Harvard Business School pair of Gulati and Weng have recognized the importance of social media, and, more importantly, the growing need to develop tighter relations and dialogues with the consumer.
With the removal of the middleman, the designer gets a greater share of their profit, and the consumer has greater access and influence over the preceding season’s designs. As with all startups, there are ifs, buts and maybes that will need to be addressed before one can say whether Fashion Stake is the revolutionary business that will really take off in a big way.
Nevertheless, if the legalities can be ironed out, the company’s principles are intriguing and their ambition to try and shake up the fashion industry is truly admirable.
Pose: Denoted as fashion hauls meets crowdsourcing, Pose.com (and its accompanying free app) is an online community that allows their clients to follow what their favorite influencers and friends are wearing in real-time. With opportunities for users to showcase their style finds via photo uploading, geo-tagging, Twitter and Facebook, the platform allows users to get immediate feedback on what they are trying on from a community of “fashion experts”. Influencers (or posers) on the Pose platform include Coco Rocha, Rachel Zoe, the Man Repeller, Catt Sadler, Atlantic Pacific and more.
Crowdholding connects the crowd with fashion entrepreneurs to co-create, allowing them to give ideas and feedback for future revenue. Learn about Crowdholding in 1 minute by watching our Youtube video.
CrowdholdingCrowdholding connects the crowd with entrepreneurs, allowing you to give feedback and ideas for a future share.
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Reward Distribution Rules.
Please read below how the rewarding structure works.
Voters get 35% of the reward
Commenters still receive the majority of 65% of the reward weight, while voters 35%.
You receive only 7 upvotes and must vote what you think are the best answers
You now have a limited amount of upvotes. You won’t see the other user votes until the task expires. If you vote the top half comments you will receive a portion of the 35%.
Top 50% upvoted comments get bigger share
Our algorithm gives top 50% upvoted comments more rewards than the bottom 50% comments.
Give me an example with numbers
Upvoters get 35 % of the reward.
65 % goes to the commentors.
Half of the reward is gained from bottom 1/2.
Upvoters get nothing
1/2 of the reward pool for this segmentis distributed among top 1/2
There is a task with 1000 Reward.
Let’s assume Top 1/2 recevies 70% of all upvotes.
Bottom gets 30 %. But because half of the reward goes to Top 1/2 that makes the final numbers more like Top 1/2 gets 85% (55.25% for commentors, 29,75% for upvoters) and bottom gets 15 % of the final reward.
If there’s 100 upvotes:
1 upvote that upvotes a comment in Top is worth around 12 Yups (circa 8 goes to commentor, 4 goes to upvoter)
1 upvote that upvotes a comment in Bottom is worth 5 (All goes to commentor).
Reminder about our Moderation
If you upvote a comment that’s reported as Spam or comment that should not be rewarded (eg. “Good job” comments) you will lose your right to be rewarded for this task.
We hope you like this new system and it brings you lots of fruitful discussions and reward you fairly.
Do you still have questions? Read more detailed explanation at our helpdesk
All the best,
Your Crowdholding Team