While some consumers returned to malls in 2021, January indoor shopping mall foot traffic was down 12.2% compared to January 2020, according to Placer.Ai. In turn, many mall-centered brick and mortar brands like Victoria’s Secret, Gap or Skechers are looking for incremental sales via wholesale and retailer partnerships.
At the 2022 Modern Retail DTC Summit New Orleans, Louisiana, retail executives came together to discuss about the biggest challenges digitally-native brands are facing today. This is a roundup of their frustrations and solutions when navigating marketing and growth obstacles.
Amanda Amore, Marketing Copywriter, UpSellit A first-time shopper’s abandoned cart equals the loss of something far more significant than an initial purchase: Lifetime value. Customer lifetime value is the long game in conversion optimization. If brands and advertisers consider this event, they can increase overall revenue upwards of 20% by personalizing on- and off-site customer […]
Despite inflation, CPG conglomerates outperformed first-quarter estimates after hiking prices. Last week, food and beverage conglomerates Coca-Cola, Hershey’s, PepsiCo and Mondelez all surpassed earnings estimates, with year-over-year, first-quarter revenues up between 7% and 16%. While executives have described inflationary pressures as a potential headwind on profits, price increases have largely insulated these conglomerates’ bottom lines.
All of Columbia’s brands saw sales increase across the board, but Sorel topped them all with a 37% year-over-year growth. As other retailers like Lululemon bet on the footwear market for growth, Columbia appears to be benefiting again from already having an established brand on its roster.
For many direct-to-consumer brands, entering physical retail has become a standard growth strategy. At this week’s Modern Retail DTC Summit, Fly by Jing founder Jing Gao highlighted the opportunity and challenges of selling through national retailers.
Gas prices have soared to record highs in recent months, partly as a result of Russia’s war on Ukraine. Recently, retailers have seen this as an opportunity to drive sales and members to their loyalty programs by offering gas promotions.
Paul Gray, product marketing lead, Shopify Ecosystem The past decade saw the pioneering of direct-to-consumer brands, with stalwarts such as Allbirds, Chubbies and FIGS building playbooks that proved a new retail model could work. Building products, setting up an online store and using acquisition marketing to grow a loyal base of customers saw many DTC […]