While in NYC I had the wonderful opportunity of meeting Susan Akbarpour who is the founder of a new platform called Mavatar. Mavatar is not only a smart shopping cart for top retailers but a great virtual coupon clipper as well! How many times have you wished you had a promo code, or realized yours is lost in an over abundance of e-mails? Been there done that, the great thing I have found out about Mavatar is that while you are shopping Mavatar automatically applies promo codes to your items so you can save money and make money by shopping smarter.
As a fashion blogger I know the struggle is really real when it comes to finding not only great pieces but great pieces at a great price. So I was thrilled when I realized that by shopping through Mavatar I was getting a huge discount on items that I didn’t even know where marked down! This idea was brilliant so I asked Susan if I could pick her brain a little.
J: What inspired you to start Mavatar?
S: When I entered Stanford Graduate School of Business, I was overdressed for my classes! I didn’t have the time to buy new jeans, so I ordered seven pairs online – each around 30-50 bucks! To my surprise, all of the sudden, after this drastic shopping behavior, I started receiving hundreds of emails from various retailers to buy even more jeans! Promotions were chasing me everywhere, online and offline. My browser was flooded with banners imploring me to buy more jeans! It was a constant, unbearable reminder, screaming at me, “YOU BOUGHT SEVEN PAIRS OF JEANS IN ONE SITTING!” So as I sat in my Data Modeling course at Stanford, I was in awe in learning of User Privacy and Qualified Data.
Remembering my compulsory jeans nightmare, and it’s unproductive noise, I asked myself:
-How about them, their needs and interests in this ecosystem?
I came to the conclusion that the basis of search engines, targeting and retargeting technologies are flawed! If you make consumers feel that they are unable to process the information that you pour on them, they drop the ball! Not only do they not want to buy but they also ignore the constant and annoying flood of communications. That’s why they are ignoring 98% of the advertisements today! We needed a paradigm shift to turn the table towards consumers and influencers; a new consumer-centric e-commerce and shoppable content platform!
J: What is the meaning behind the name & symbol
S: Mavatar is short for “My Avatar.” When I was looking at the Gaming Industry data in 2010, I found out that as a planet, we have spent 150 billion hours on gaming. On the other side, when I modeled two other studies on “coupon codes,” savings and time we spent on them to find the one that works, I found out that as a nation, we have saved 4.6 billion dollars using promo codes online in one year but we wasted 1 hour for every 1 dollar saved! So this data proved my assumption that online shopping is the most fun, yet time consuming game. The natural tendency of the gamers is winning the game, so I decided to give them a super avatar to win the game of online shopping!
The logo has a different story:
I’m writing a blog about the meaning of the Mavatar Cart. The reason that we designed this Cart was the fact that I believed in the power that data has given the consumer (M is the symbol of Me, My, and Mine) in a bubble (the idea came to me after I read “The Filter Bubble” by Elli Praiser). The Consumer is only the recipient of whatever the Market wants for her. The Mavatar shopping cart is an “M” which extends as the handle of the cart and empowers the user to crack the bubble to push My CART forward in MY direction, My options, My needs, Mine!
The handle of the Cart is the symbol of consumers control of their shopping decision.
J: Technology today opens so many doors for innovative ideas, how does Mavatar stand out above the rest?
S: Today technologies & platforms such as recommendation engines, targeting, retargeting and push advertising platforms focus on aggregating consumers’ data and making retailers smarter about their next move. These platforms have created a lot of noise and ineffective pools of data that has confused and annoyed consumers, shifted the retailers marketing dollars to the wrong directions while the problem of cart abandonment roots from the paradigm shift in consumer behaviors and abundant choices.
Modern consumers don’t like to be pushed. They actively “pull” information helpful to them by exhausting their options using multiple tools and touch points. Millennials tend to be driven more by product, reviews and better prices than loyalty to any particular brands! They appreciate transparency and want to feel empowered and in control when shopping because that’s how they live!
The power of Mavatar is helping them to instantly process tons of data during critical purchase decisions with state-of-the-art & patent-pending technologies. We narrow down the decision making process, aggregate and optimize the incentives to help stores reach consumers at the perfect time, right before a transaction.
On the other side, retailers have to think about rewarding their modern sales force; Influencers. Only 7% of the influencers (bloggers, publishers, NGOs,…) make money out of their content and recommending retailers’ products because monetization of content is not easy. With Mavatar, approval with stores and networks, technology knowhow & deployment, dead end-points (expiring cookies & dead links) are all eliminated. Influencers can also unleash their creative power by allowing fans to shop for newest trends and not from old, limited and noisy product feeds!
The Mavatar shopping carts allow them to go to stores sites and directly curate products from real-time online inventory, writing content around the carts and products, trends, their sentiments, causes, etc using our elegant and user friendly publishing platform & back-links their carts to their contents everywhere from web social, video and print or offline world!
J: Shopping online or in store?
S: I love online shopping because I can do it at 2am when the world is sleeping and I don’t feel as guilty. Also, stores have a skewed inventory matching with the regional customers’ demographic. I never can find such a diversity of choices offline. It not be as embarrassing to pull a 20% coupon out of your Chanel bag to buy a Fendi one at Neiman Marcus! No one cares what you do to save money when you are shopping for items online!
J: Favorite item in your closet?
S: My shoes and pieces I can mix and match with everything like my Akris burgundy cardigan and Christian Dior lime green open toe shoes! They are comfortable and despite my original expectation, go with a lot of different colors, making my outfit fun!
J: What advice do you have for a new entrepreneur?
I sent him an email, telling him about my idea. He emailed me back 10 minutes later and we got on the a call. One hour later I was in his office at Stanford Infolabs, sketching the idea on a white board for the next 5 hours. Together, we worked as partners and become partners to work on Mavatar idea for the next 7 months before bringing the third partner/CEO and founding the company
J: Mantra you live by?
S: Transparency! You can be brave when you don’t have to hide your agenda. In fact that’s the first indication that your agenda sucks if you have to hide it!
J: Something you wish more people knew.
The Fashion Huntress says
Awesome! I need to check it out~!!
jodikayedwards says
Ohh yes huntress! 🙂 I think it can definitely help you while fashion huntressing!