TiffTaff Where fashion and technology meet

4Mar/120

Big-Data Analytics for Your Closet?!

Stylitics is for your wardrobe what Mint is for your finances.

I am obsessed with fashion. I am obsessed with technology (and, more recently, analytics). So, Stylitics is a dream come true. Well, the idea of it, anyway.

Stylitics is, by most accounts, an analytics dashboard for your closet. Stylitics is meant to help you manage your clothes and track the usage (and ROI?) of each item. It does for your wardrobe what Mint does for your finances.

I signed up for an invite tonight—the product is still in private beta.

Because I don't yet have personal experience with Stylitics, I've compiled a few articles written about the New York-based start-up.

From Mashable:

Stylitics is built around your personal style calendar. Start by “checking in” your outfits every day, and pretty soon most of your closet will be saved to your profile. Over time, Stylitics will help you track how much you’re spending on clothes, the brands you wear the most, and what brands you tend to pair with other brands. You can also glance back at your calendar to see what outfits you wore when and at what temperatures.

Stylitics calendar (Courtesy of Mashable)

From Inc. Magazine:

[Founders Rohan Deuskar and Zach Davis] created  an algorithm that can analyze local clothing trends based on information from the sites users, who can maintain a virtual closet or simply log in what they are wearing on any given day. What people wear—to school, to the gym, to the movies, to work, on a rainy day—will give marketers day-to-day knowledge of buyers’ appetites.

Then, Stylitics sells this data to brand marketers who can use it to hone in on target audiences, as well as predict what's trending in fashion. (This use of big data is becoming much more common today.)

This is where it gets useful for me:

If you are debating whether or not to splurge on a $300 dress by a particular designer, you can look back at your "personal style report" and see that you’ve worn a similar dress eight times since you bought it, which may make this new investment worth it.

This is something that my girlfriends and I (unscientifically) do all the time! Before we buy something, we think of the many ways we can wear it, the occasions to which we can wear it, the "staying power"—how many seasons or years we can wear it, etc. and then we divide the price by these arbitrary factors. For example, here's a typical conversation I'll have with myself. (Warning: For you left-brainers, this will make absolutely no sense):

Oh, that's a cute pair of Chanel pumps! Wow, they're $1,000. Hmmm, I don't think I should buy them; they're way too expensive. But wait, I could really wear them at least eight times a month. And, because they're Chanel, they're so classic. I bet I'll keep them for at least five years! Let's calculate this:

8 times per month x 12 months = 96 times per year
96 times per year x 5 years = 480 times in 5 years
$1,000 / 480 times = $2.08 per wear

Whoa! Two bucks per wear? I mean, that's less than a cup of coffee. Where's my credit card?!

I know, I know. It's insane, but you'd be surprised how often women do this. That's why having real analytics and a dashboard to visualize that hard data might be a good wake-up call for a lot of us.

The Stylitics dashboard gives you a visual snapshot of what you're spending and wearing.

Imagine you could track your purchases. Imagine that six months after you purchased those Chanel pumps, you've only worn them four times. For the sake of simplicity, we'll assume that means you'll wear them eight times a year for the next five years. Let's do that math again, shall we?

8 times per year x 5 years = 4o times
$1,000 / 40 times = $25 per wear

The numbers aren't as attractive now, are they? Would you still buy them? (If you're me, you probably still will... but that's neither here nor there.)

With Stylitics, it will be easier to visualize the ROI of your past purchases, make data-driven decisions on future purchases, stretch your dollar and optimize your wardrobe. No matter what your budget, that's pretty darn smart—and smart is always stylish.

 

 

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