Australian online marketplace The Iconic added a new string to its bow last week with the addition of the Home category, extending its 80,000-strong product range with contemporary homewares; from bedding, kitchen and bath accessories to tech, aromatherapy and artwork. The Iconic has added more than 130 leading brands to the Home category, including Sheet Society, Aesop, In Bed, Saardé, Crosley, Country Road, Black Blaze, Seed & Sprout, Ettitude and Olive et Oriel, with more to come.
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Gayle Burchell, chief category officer at The Iconic, said the new category answers growing demand from customers.
“From subtle living room updates to kitting out our new home office spaces, there has been an understandable and undeniable growth in consumer appetite to elevate our spaces while so many of us have been spending more time at home,” Burchell told Inside Retail. “As a customer-centric business, we are laser-focused on continuing to evolve and enhance our offering to meet the changing needs of our customers, while also offering a seamless and inspiring one-stop shop.”
In the same vein, the business accelerated the launch of its beauty and wellness categories when the pandemic hit last year and customers were seeking at-home self-care solutions.
Burchell called it a natural progression for The Iconic, as it continues to expand its category assortment to offer customers “greater choice and convenience”. And the formula is proving popular with consumers, with the platform pulling in over 17 million visits a month.
The new destination expands The Iconic’s Considered Edit, an onsite filter that allows customers to shop via six unique sustainability values.
“We’re proud to launch with 45 per cent of our Home assortment being shoppable via The Iconic’s Considered Edit, including brands such as Seljak blankets and Kip&Co. This launch also saw us introduce consumers to cult Iconic brand Aere Home, as an extension of Aere’s line of more sustainable styles for women and men.”
While Burchell did not indicate whether the retailer would look to expand into larger furniture items, she said the business would be guided by its customers.
“Our introductory Home assortment is a convenient adjacency to our fashion business for our customers, offering a one-stop shop to style and accessorise their wardrobe and living spaces,” she explained. “When it comes to future expansions, feedback from our customers will help guide new brands and categories, so watch this space.”
Tapping into Millennial market
Matt Newell, partner and CEO at The General Store, is not surprised to see Global Fashion Group (GFG) steer The Iconic in this direction, which he expects the brand’s Millennial customer base to receive rather well.
“GFG see themselves as a fashion and lifestyle business, so the move into homewares is clearly on-strategy for The Iconic. And it’s a move we have seen other fashion brands make over the years, like Country Road and H&M, not to mention the department stores,” Newell told Inside Retail.
“As Millennials increasingly move into their own homes, they are looking to bring a sense of style into their living spaces. The Iconic has got well established style credentials and one of the best online shopping experiences in the market. So it will be an attractive shopping experience for the emerging homewares customers in particular.”
Newell doesn’t believe the retailer will be a major threat to established brands in the category, like Temple & Webster.
“It’s more of an add-on sale or gifting opportunity,” he said. “The Iconic will remain focused on continuing the growth of its core business. “For now, I see it as a very smart, very well-timed range extension to grow basket size.”