Latest / The Retail Podcast / Revolutionising Fashion Ecommerce: Emma McFerran of Lyst on Personalisation, Luxury Fashion, and Career at Shoptalk Europe

Transcript

Revolutionising Fashion Ecommerce: Emma McFerran of Lyst on Personalisation, Luxury Fashion, and Career at Shoptalk Europe · The Retail Podcast

• 0:00
  Apollo and welcome back to the retail podcast here at shop
• 0:03
  talk. We're very privileged.
• 0:06
  We're here with one of the shoptalk speakers.
• 0:08
  Emma is the CEO co-founder of list, what in tennis and maybe
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  start off with what list is what you guys have.
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  It was long and then maybe what you're talking about.
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  Yeah. Okay, so list of the global
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  fashion shopping platform. So app website, we connect
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  Millions 200 million Shoppers. We came out all of the world's
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  leading fashion Turner's and Brands.
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  So everything from your European Luxury, 10 brands to your beauty
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  is your master plans and Water by retailers.
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  So we have everything, we have nine million SQ use and we had
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  hold the amateur ourselves. We are aware our platform so
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  it's data and Technologies of drives the business.
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  So we are very good at connecting customers with those
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  partners and then hustle partners that our customers can
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  shop all of the houses, the business, I love, you know,
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  you've been going. So even going for 12 years and I
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  should not have cut well under the K5.
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  I join me. Tiny, because they are handling
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  10 years ago. So, it's going to be upset,
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  Echo, based, and butter than promote digital.
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  Oh, no. It's very new.
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  Very kind about Gloria, that co-founder.
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  But I do read ten years ago over.
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  So we're tent IT company, but wine first year as a CEO.
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  I so I worked very closely with the Honda and former CEO and
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  then we transitioned to my taking over plus.
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  So just as a just expand that because obviously you said you
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  were rots of whereabouts and then kit isn't this space,
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  there's it I millennials. Sweet.
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  Yeah, it's actually we could put things that such a great big.
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  Scales are 200 million to most a millennium and Jen said, but
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  actually actually because what we do is we match audiences with
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  with the items that they want to buy, is we actually Sacramento
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  pulse. So that's quite did too.
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  Yeah, it's always a threat did demon with eight points.
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  A wow, 15 make bitumen in. They twins just from your own
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  platform will from the world in like the, who online World
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  different on our platform for Nia.
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  Yeah. Or and so in terms of come to
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  shop, talk traveling here today, what are you talkin about
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  tomorrow? So tomorrow I'm going to talk
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  about how data is at the ventral curve, our retail journey and
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  how in driving the next wave. Even Nation at this, through
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  data transformation. Having said that we've dated of
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  DNA, or it has been, it's all about taking those like deep
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  historical roots in Dayton, technology and saying, what's
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  next to us? Okay.
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  How do you see the impact on there, too?
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  And tons of first specifically around, And the Technologies or
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  Ai and everything's coming around.
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  How are you guys working? Looks okay.
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  I don't think it's so interesting.
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  We've been working with AI for a long time anyway, but obviously
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  this new wave is like something. None of us have seen before, and
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  I think lots of people are It's quite a more for us.
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  I think it's quite hard for people to get crisp about what
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  how this new world is going to be, and how it's going to work
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  for their businesses. For also, see it in a couple of
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  ways, the first is both very big on search, right to the idea.
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  And this is that you're looking for a particular item.
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  We got idea. I want no nice sweater Autumn or
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  whatever, we we, you love contacts, around that search.
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  And I think I can do to make that search much much richer
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  richer or so. If you're thinking about, I
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  never touched that girl, addresses the pump text search,
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  as we know what that is. Yeah, but a, I can actually made
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  that Theta richer set of cuffs, with looking for a gala dress,
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  she a is saying, think long think, you know, high-quality
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  Fabrics, think even more. So, use machine learning models.
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  They try it, they turned out all of our product catalog with
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  suitable product catalog. We have.
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  So, we're doing recommended products.
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  It's so if you look at, Something.
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  Yeah, and we'll show you recommendations of a similar to
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  that and it will include image search but it will also include
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  the other metadata has a thicker sauce.
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  Rake of this. Toughen, be quite difficult to
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  prove to called, do better than once, you've done it, but I must
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  have lots of different. Yeah, and use cases.
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  Yes. What?
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  One of the wild things that we offer customers, I think to
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  really interesting is we merge products.
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  So there's a particular Gucci bag say that you love we should
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  have it from everywhere around the web that sells I mean, they
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  say thank you sweatshirt. Let's compile it for me is
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  always Bruins house, can tell, just by looking by come on,
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  that's how you did. It starts really with you would
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  like these guys did we have it from ever around the world?
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  But you but solve it. We can merge into one product
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  cars, so we can see the image. And then you can see where it's
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  sold with different prices, where it's being shipped from
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  and that just helps custom make much better decision.
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  Yeah, much more. A fuller picture decision.
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  So we're using data to do that but that's all done through
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  machine learning. And so bringing you back to to
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  all the folks are not going to be able to be in the room
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  tomorrow to see you. Took what's the big takeaways
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  that you're going to leave the audience with this will probably
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  go out of steel tour. Okay?
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  So that's why we never know, slow is a rose, but what would
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  be the big takeaways for you? Um, I think the big takeaways
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  are how to get really smart other organization with data and
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  we have so much we process. So, So we actually put a lot of
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  effort into how do you make good decisions?
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  What's the right amount of data for the right thing?
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  You're doing next so partly that's something only
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  organization fun what would in customers.
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  So the new changes where we've been rebuilding redeveloping,
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  all of our recommendation, algorithms really breaking them
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  down and say what is it that customers really want?
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  And how can we use the tactic or any fuel of much better
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  experience for them? And then I'll our partner site
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  because we Partner with all of his amazing fashion brands and
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  retailers, we already provide them, lots of Rich insights to
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  help them grow their businesses and the next level for that.
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  So, you know, an example might be, I'm a high-end, she
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  retainer, and I want to grow in the US and then we can look and
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  say, you know what, we think you should be doing better for that
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  category in this city, got you? So obviously, they don't work,
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  she type baits. George fish.
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  Exactly. Exactly.
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  And how we've been using to for all That segmentation, which are
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  incredible. But it seemed a scientists have
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  built with amazing platform for segmentation as should power.
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  All of the things that we basically just want to get much
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  better. Yeah, matching Shoppers with the
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  right items, helping them to make better choices and then
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  helping the partners to just find better audiences for them.
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  And they have no leader within retail and Technology.
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  I'm always looking for, you know, what lessons, power you've
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  got here. What can we teach the the sort
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  of future and upcoming Emma's and the world, and the
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  challenges? And and it's so I'm just
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  curious. Did you sent out in life to say,
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  you know what, want to turn? I'm going to be whatever.
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  I'm going to be a CEO fan. How did you get to this?
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  How do I get here? Is a really good question.
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  Also, very flattered that the Next Generation because I still
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  feel like I'm still growing and learning every day.
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  I was actually lawyer before. I did this, I definitely wanted
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  to work in in business and I have a passion for the category
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  but I Biggest things for me is like, are you learning and all
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  the people around you who can help you learn?
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  Yeah, and in my journey, this from like very, very small
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  start-up the much later stage business that it is.
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  Now I've done so many new things, I feel like I've had in
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  the 10 years and maybe had six or seven different jobs.
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  Yeah. And part of that is saying like,
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  if you really care about what you're doing and you've got, you
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  know, prepared to work hard and you had to work with other
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  people. Yeah.
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  As you You can learn. So a lot of things hot made a
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  science. Haven't hello to do that.
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  She tried, I've done, I've wore all sorts of hats and I've not
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  things that I never thought I could do and I've yelled and the
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  way I didn't have a finance background, but I've really
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  develop those skills should by diving in and doing it.
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  And then getting who really good support.
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  And we were outraged that if I was just going to be sort of how
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  much of that was attracted by the fact that being a girl.
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  Haven't you? That was that like, you didn't
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  scold? You will girls don't do this or
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  or they don't work in Tech or they can't worry little bit
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  better than that. I'm just curious.
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  Was there any of that when you were going first?
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  Definitely, I think mostly for me, though.
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  When I say, just try it and then we'll get that, that's
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  definitely an aunt in hindsight thing, I think the not having
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  the confidence to assume that you can do things, yes, of
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  trying it anyway. And I wonder if there might be,
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  it might be easy for man. I don't know that, you know, not
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  a man, but I'm one of my be easy to jump in with war.
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  That confidence Shay. What I can do all of these safe
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  as I sort of feel. I've proved it in hindsight.
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  Yeah but at the time it felt scarier and there's a lot of A
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  doubt that every step of that Journey, then amazing
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  realization when you can do them like when you've achieved things
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  or luck things. And grown to say that I can
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  defeat. Yeah, tell her, I think I may
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  know the answer if you were, if you were able to go back to the
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  younger you for and to help the young, you expedite, the
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  journey, you know, with hindsight because you said,
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  that's a really interesting white.
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  There's so many things in hindsight but that we know what
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  she would be like the two or three things that you would land
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  on on saying the younger Anna. In that just do this and that
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  will take years months or fuel career but are the journey I
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  guess I'd say look at it attitude and aptitude you can do
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  a lot more than you might think you need experience for, don't
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  you? So I would say like if you're
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  prepared to work hard, if you're smart, just keep pushing through
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  but it will get over those barriers pasta.
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  Yeah and then I'd say like beer don't worry about getting small
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  things roll on looking stupid of a Jane the years are much
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  quieter meeting, some it wasn't in the matter in the last few
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  years because, you know, I didn't want to Mornington book
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  start. If I had something to say and
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  then you realize actually asking her to understand that could
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  explain that to me. So often that opens up a better,
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  quality of conversation for everyone around the table.
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  So maybe it's about holding back who that's why I'm trying to say
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  is like, don't hold back because actually even with a little bit
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  of broken things or things not quite right yet to move forward,
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  much faster. Yeah.
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  I think that's a very, very good advice, and I probably eat that
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  now. And I don't think it's probably
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  something that irrespective of whatever age.
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  You always got that, mental that are going on holding you back
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  and it's like, our come on, you'll never have the right
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  side. Where can people find more about
• 10:35
  links where you obvious? It's list.com.
• 10:38
  Yeah. And it's a couple do not
• 10:39
  download our app lets you get the richest experience on the
• 10:42
  app Ys L Ys T that is right. Yeah very hip and young.
• 10:47
  Thank you, thank you so much. Follow my salary.