NEW YORK--(BUSINESS WIRE)--Sep 27, 2023--
Yaysay, launching today in Beta mode, is a first-of-its-kind shopping app that combines AI-driven personalization with gamification to transform the off-price shopping experience.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230927522989/en/
Introducing Yaysay: The Gamified Shopping App Redefining Off-Price Retail (Photo: Business Wire)
Founded by retail industry pioneers including two of the co-founders of Casper and executives from Gilt Groupe, and Stitch Fix, Yaysay aims to make off-price shopping an exciting 5-minute daily habit while also offering a sustainable solution for excess inventory in the retail industry.
The Seed financing was led by Alex Taussig at Lightspeed Venture Partners and includes prominent retail investors and advisors such as:
- Kevin Hartz, Founder of Eventbrite and A* Star
- Alexandra Wilkis Wilson, Founder of Gilt Groupe
- Rati Sahi, Founder of The RealReal
- Julie Bornstein, Founder of The Yes
- Shira Suveyke, Executive from ShopBop, Outnet, and Gilt Groupe
- Gaurav Jain, Founder of Afore
- Moshe Lifschitz, Co-Founder of Shrug Capital
- Emily Heyward, Founder of Red Antler
Yaysay pioneers a new mobile shopping paradigm, tailoring the shopping experience for each user by leveraging AI to curate a personalized fashion feed and present shoppers with the perfect items at irresistible prices. Designed to bring the thrill of off-price treasure hunting online, the app draws inspiration from social media, dating apps, and gaming interfaces, blending competition, luck, and limited supply to provide the ultimate shopping adventure. Recent statistics reveal that 71% of Millennials regularly check social media sites multiple times a day, and half use dating apps daily, reinforcing the app's alignment with modern consumer habits.
“While mobile shopping is convenient, it is generally uninspiring for brands and consumers alike. With Yaysay, we are creating an elevated brand experience that brings the joy back to shopping, transforming deals from the most covetable brands into addictive bites of fun,” says Yaysay CEO Lindsay Ferstandig.
YAYSAY’S KEY FEATURES & UNIQUE POSITIONING:
- Ever-Changing Inventory: No two shopping days are the same on Yaysay. The app boasts a constantly refreshed feed of substantial discounts on sought-after brands, offering users a new treasure hunt every day with an air of “get it or it’s gone.”
- An Elevated Brand Experience and More Sustainable Retail: Offering a premium experience and featuring only the most covetable brands - including Acne, ALC, Chloe, Isabel Marant, Ganni, Loewe, Vince, and more - the platform breathes new life into overstock inventory, making Yaysay the ideal liquidation partner for brands that need to solve for excess inventory while protecting their brand perception. In fact, 53% of US retailers have expressed concerns about the consequences of not selling excess stock.
- Streamlined Shopping: Yaysay's 5-minute daily habit eliminates distractions and interruptions, increasing conversion rates and eliminating the need for price comparison, aligning with the preferences of modern shoppers.
- Targeting the Off-Price Market: Yaysay aims to tap into the $100 billion per year off-price market, where only approximately 3% of sales are currently online.
Yaysay founders, including Philip Krim, Co-founder and former CEO of Casper, and CEO Lindsay Ferstandig, former Stitch Fix executive, have successfully secured $10.3 million in funding to launch the app into market. The Beta version is now live, accompanied by a waitlist which will allow consumers an early glimpse into this transformative shopping platform within the coming weeks. You can join the waitlist here.
“The $100B+ off-priced retail market for new goods has been relegated to offline stores until the launch of Yaysay. Thanks to technological leaps in AI, supply chain technology, and mobile app development, we are finally able to bring the ‘treasure hunt’ experience online,” says Krim.
About Yaysay:
Step into your 5-minute daily dopamine boost with Yaysay’s AI-powered discovery-driven shopping app, where the exhilaration and delight of off-price treasure hunting are reimagined. Iconic brands like ALC, Jonathan Simkhai, Loeffler Randall, Chloe, Loewe, Isabel Marant, Acne, Ganni, Vince, and many more offer unexpected deals at “I don’t believe you” prices. If you don’t snag your favorites quickly, just like a swipe on a dating app, your fashion finds are gone forever. Yaysay brings the fun back to shopping by delivering a relevant-for-only-you feed of fashion gems updated every day; it’s the universe whispering, “This was meant to be.” Yaysay is founded by retail industry pioneers from Stitch Fix, Casper, and Gilt Groupe. Embrace the thrill of the unexpected and enter your daily escape by downloading the Yaysay app and joining our waitlist.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230927522989/en/
CONTACT: For media inquiries, interviews, or further information:
ALISON BROD MARKETING + COMMUNICATIONS
Yaysay@abmc-us.com
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY MOBILE/WIRELESS ELECTRONIC COMMERCE FASHION RETAIL SUPPLY CHAIN MANAGEMENT ARTIFICIAL INTELLIGENCE ONLINE RETAIL
SOURCE: Yaysay
Copyright Business Wire 2023.
PUB: 09/27/2023 12:05 PM/DISC: 09/27/2023 12:05 PM
http://www.businesswire.com/news/home/20230927522989/en
