Weddings In 2021 With The CEO Of Zola | How I Built This with Guy Raz | NPR

Transcript

hello everyone and welcome to how I built this resilience Edition from NPR I'm guy RZ it's great to have you here uh this is the place of course where we're talking about how businesses are building resilience in these challenging times and before we get to our show today I want to thank uh two of our sponsors uh first to 3M who's using science and... Read More

Summary

In this video from NPR's How I Built This Resilience edition, host Guy Raz interviews Shanlin Ma, the founder and CEO of Zola, a one-stop shop for wedding planning. Ma discusses the challenges her business faced during the pandemic and how they pivoted to meet the changing needs of couples. She also shares insights on entrepreneurship and encouraging girls to start their own businesses.

Questions & Answers

Q: What is Zola and what services does it offer?

Zola is a platform that aims to serve couples throughout their entire wedding planning journey. It offers a range of services, from wedding registries and websites to invitations, save-the-dates, and even virtual weddings.

Q: How did the idea for Zola come about?

The idea for Zola came about when Ma and her co-founder, Nobu Nakaguchi, experienced the pain points of shopping for wedding registries firsthand. They saw an opportunity to create a better user experience and decided to start their own company.

Q: How did Ma's background in product management influence the creation of Zola?

Ma's experience in product management, working alongside designers and engineers to build digital websites and mobile apps, gave her the skills and confidence to start her own company. It allowed her to understand how to create products that customers love and want to share with others.

Q: Did Ma face opposition when seeking funding for Zola?

Yes, many investors initially doubted the potential success of a wedding-focused business. They questioned whether people spent enough money on weddings and if there was room for another player in the industry. However, Ma believed there was a strong business opportunity and eventually secured funding from a supportive investor.

Q: How does Zola make money?

Zola initially started with a combination of an e-commerce and marketplace business model. They partnered with brands to sell products through their platform, offering dropshipping to minimize inventory costs. As the business grew, Zola expanded into other revenue streams, such as wedding invitations and home goods.

Q: How did the COVID-19 pandemic impact the wedding industry?

The pandemic caused significant disruptions in the wedding industry, with many weddings being canceled or rescheduled. Couples faced challenges in rescheduling their weddings and turned to Zola for support. The company quickly adapted to help couples navigate these changes and saw a surge in demand for their services.

Q: How did Zola respond to the increased demand during the pandemic?

Zola introduced new features and offerings in response to the changing needs of couples. They launched a wedding vendor search platform, expanded their home goods store, and facilitated virtual weddings through their website. These initiatives were fast-tracked to meet the immediate demands of couples during the pandemic.

Q: Will weddings come back strong in 2022?

According to Ma, there is a strong indication that weddings will rebound in 2022. Many couples are planning their weddings starting from the fall of 2021, and there is a growing sense of optimism and desire for large, in-person celebrations. The wedding industry is expected to see a surge in demand as restrictions ease and couples feel more comfortable planning their events.

Q: How can girls be encouraged to start their own businesses?

Ma emphasizes the importance of providing girls with role models and examples of successful female entrepreneurs. By showcasing women who have broken barriers and achieved success in various industries, girls can be inspired and empowered to pursue their entrepreneurial dreams. It is also crucial to foster creativity and encourage girls to explore different disciplines and pursue their passions.

Q: How can the wedding industry adapt to changing circumstances, such as requiring proof of vaccination at weddings?

Ma acknowledges that the industry may see some instances where couples request proof of vaccination, especially for higher-risk attendees. However, it is still too early to determine if this will become a common practice. The situation will likely evolve as more people get vaccinated, and further guidance is given by health authorities.

Takeaways

Zola, a one-stop shop for wedding planning, faced the challenges of the COVID-19 pandemic by pivoting and offering new services to meet the changing needs of couples. They introduced virtual weddings, expanded their home goods store, and provided support for rescheduling events. Despite initial doubts, Zola has become a major player in the wedding industry, and weddings are expected to bounce back in 2022. Encouraging girls to start their own businesses involves showcasing successful female entrepreneurs as role models and nurturing their creativity and ambitions. The industry may see changes like requiring proof of vaccination at weddings, but the long-term impact remains uncertain.