Bonobos knows their customer
“He thinks he's tough (his favorite movie is The Godfather)...but really, he's not (Shawshank Redemption is a close second)…and he definitely has a sense of humor (Caddyshack rounds out the list of favorites).”
That quip - along with a few other gems- came from a talk with Bonobos' VP of Marketing, Craig Elbert, during last week's OpenCo event in NYC.
This retailer’s spot-on understanding and articulation of its audience is one reason Bonobos is a rising brand, one to watch and learn from over the next few years.
Here are a few others:
They’re online first and foremost
This may seem obvious now, but it’s amazing how few retailers actually treat the web as #1. For Bonobos, the original insight was realizing that many men don't like the pressure-filled, often overwhelming experience of shopping in a brick and mortar store (it’s not laziness, it’s more like aversion). So they started all-in online, making sure to go well beyond the costs of entry. Things like Bonobos’ customer 'Ninjas' (all college graduates) and free shipping/returns help to alleviate the otherwise “high-friction” situation of ordering an expensive, fit-sensitive item online.
They’re experimental
Sensing that some men do, in fact, want to feel certain items before ordering them (“There are two things people like to touch before buying: suits, and Tupperware”), Bonobos made an early small bet, turning the lobby of their NY headquarters into what they call a Guideshop. The thinking was: why not invite people in, let them have a beer, and give them a one-on-one consultant and a casual environment in which to try on clothes. The approach proved successful – both in terms of purchase metrics (Guideshop visitors place double the average order value, and come back to Bonobos faster for a second purchase) and in helping the company better understand their customers. Craig Elbert told us at OpenCo "before the Guideshops, we just knew the majority of our customers were guys…now we can actually have conversations and learn." They’ve since opened 5 more experiential spaces (in addition to a much publicized partnership with Nordstrom).
They’re smart about sub-brands
Bonobos has already shown an eye for spotting new opportunities. After one employee realized there was nowhere for him to buy "Arnold Palmer inspired, bad-ass classics," Maide was born. While clothiers like Nike and Callaway are making performance-focused items, Bonobos is bringing fitted style back to the greens.
If you’re not following these guys on twitter yet, be sure to check them out: @bonobos (for announcements, general brand talk) and @bonobosninjas (to see how they’re using twitter as a two-way conversation tool)
Sam Liebeskind is a strategist at Wolff Olins New York. Follow him at @samliebeskind