Plum District CEO Megan Gardner ’98 likes to describe her Website as “Groupon for moms meets Mary Kay without the lipstick.” A daily-deal site for mothers, Plum District offers discounts on family-friendly products and services to moms in more than thirty-five urban areas, or “districts.” The deals are sourced by moms who live in the districts and work for the site on commission. Thanks in part to $10.6 million in venture capital, Plum District has been growing like crazy since its launch in May 2010. At the helm all along: Gardner, a Harvard MBA who got her start as an investment banker on Wall Street. Here, she reflects on the online mom market.
Thrifty is chic
Moms today on all levels of the socioeconomic spectrum are seeking deals. I believe there’s a certain element of enthusiasm and pride in getting a deal that makes women excited to share with others.
Recent studies tell us that there are more than 50 million moms in the US and they control 85 percent of household spending, representing more than $2 trillion to brands. What’s more, moms are more connected than ever today, and women are more likely to leverage social media to drive brand conversations. They are true influencers of consumption both online and offline.
It’s no secret that taking the best aspects of various companies ensures greater future success for ours. Most obviously, we provide local daily deals like Groupon, but from the very beginning, Plum District has been exclusively focused on moms and families. We also model our sales force of moms in their local communities after companies like Tupperware, Mary Kay, and Stella & Dot.
Goals as CEO
Plum District is a platform for so many things, but my greatest passion for this venture is to bring moms together online and offline to grow their local communities on a massive scale. With more than 100 moms on our sales team and targets to grow that number by a multiple of ten by the end of this year, I am proud to see the company already impacting women and communities in so many positive ways.