E-commerce vets team with Bethenny Frankel on new shopping app
A former reality television star is advising on a new off-price shopping app that offers fresh deals daily.
Former executives from digitally native retailers Casper, Gilt Groupe and Stitch Fix are launching a feed-based, discovery-driven shopping app called Yaysay. Business mogul and philanthropist Bethenny Frankel, who first rose to fame on on Bravo's “Real Housewives of New York,” is serving as advisor to the new app.
The artificial intelligence (AI)-based app delivers each customer a targeted, limited feed of fashion items that is completely refreshed every day. Customers select desired products from the feed like a swipe on a dating app, with offers only lasting until they are refreshed.
Public activity feeds enable Yaysay shoppers to see what their friends and influencers are buying in real time. A Sprout Social survey shows that Sprout Social survey showed that 98% of consumer respondents planned to make at least one purchase through social shopping or influencer commerce in 2022.
Yaysay offers brands including ALC, Simkhai, Loeffler Randall, Chloe, Loewe, Isabel Marant, Acne, Vince and Ganni at up to 70% off. Frankel will work with Yaysay in an advisor capacity in areas such as buying and merchandising.
"Yaysay is all about bringing back the excitement of discovering fashion that's perfect for you, at prices that are too good to resist," said Lindsay Ferstandig, CEO and co-founder of Yaysay. "We wanted to create a mobile shopping experience that's fun, and feels like a little bite-sized treat at the touch of your fingertips. We've utilized AI combined with a novel shopping experience to digitally recreate the unique off-price treasure hunt experience online for the first time."
"With less than 3% online penetration for the off-priced space, Yaysay is filling an important void that consumers desperately need and want," added Philip Krim, Yaysay co-founder and chairman.
"I love the thrill of the hunt, but most importantly, whether at $2 or $2,000, I require and demand value and usually purchase investment pieces," said Frankel. "Yaysay offers fresh deals daily which is a fun and exciting way to find the best deals on must have items — and there is nothing more thrilling than finding an amazing steal and telling a friend. I don't like nor have time for getting sucked down the rabbit hole, and this is efficient shopping. In 2023 everything is about engagement and interaction, and this provides both. Bottom line is Yaysay is innovative in a sea of everything being derivative.”