Good afternoon. It’s been a big week and it’s only Thursday: Campbell Soup Co. beat Wall Street earnings projections and Avril Lavigne is reportedly dating Tyga. Those were not on our 2023 bingo cards, but neither was another atmospheric river in California.
In today’s edition:
—Maeve Allsup, Jeena Sharma
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eTail West
If you’ve been reading the news lately, then you know California has been seeing some pretty wild weather (wild for the West Coast, anyway!) Since it seemed like such a great time to be on the roads with thousands of California drivers who’ve never seen snow, this Retail Brew reporter decided to take a roadtrip.
I headed down I-5 to sunny snowy Palm Springs for eTail West, an e-commerce and omnichannel conference promising a meeting of the minds on industry disruptions and innovations.
On stage, I sat down with executives from three of the retail world’s biggest and most exciting players to chat about their approach to emerging technologies, going viral, and leaning into brick and mortar. My sessions with Sarah Henry, VP of content, influencer, and commerce at Walmart; Kohl’s CMO Christie Raymond; and Kendra Scott CMO Michelle Peterson ran the gamut—from TikTok trends to loyalty programs.
Here are a few of my key takeaways from those conversations:
These brands are everywhere, doing everything, all at once.
You don’t have to have seen the film to make sense of this one. Brands like Walmart and Kohl’s and Kendra Scott aren’t only on Instagram. They aren’t only on TikTok. They aren’t only doing live shopping. They’re trying it all.
Walmart, for example, has been promoting live shopping on all fronts (platforms) including its own e-commerce site. At the same time, the retail giant invested in developing creators of all kinds, through the beta version of its in-house influencer platform, Walmart Creator. Kohl’s, meanwhile, has hosted holiday-themed live shopping events and tested out TikTok hashtags, and has been digging into AI and big data since before it was cool (like, 2016).
Kendra Scott, meanwhile, may have gone viral on RushTok, when aspiring sorority members found the brand’s jewelry perfect for rush week, but is also committed to brand partnerships, like Museum of Ice Cream and Barbie.
Keep reading here.—MA
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With a few years of perspective on the (sudden) global shift to retail, brands are taking stock of what’s changed. Many are making omnichannel solutions a part of their permanent strategy going forward.
And now you can get the 411 on all things omnichannel in NewStore’s 2023 Omnichannel Leadership Report. The research focuses on the availability of omnichannel solutions across three retail categories: online, mobile app, and store.
The 2023 global edition of NewStore’s report takes a closer look at omnichannel in Australia, France, Germany, Italy, Spain, and the UK, letting you compare omnichannel solutions across different regions.
In the six markets studied, they found that:
- 96% of brands offer contactless payment
- 23% of brands have a mobile shopping app
- 59% of brands offer click-and-collect
Omnichannel is here to stay. Get the full report.
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Simon Miller
A couple weeks ago, we took a look at how CEO Chelsea Hansford transformed Simon Miller from a denim brand into a modern luxury one.
The designer and entrepreneur told Retail Brew she strived to build a lifestyle brand inspired by architecture, furniture, and sculpture, among other things. She also detailed the retailer’s shift of focus to a DTC-driven strategy from a wholesale-only one and how IRL marketing events have helped with consumer engagement.
But that’s not all that has gone into keeping the company profitable—and its consumers coming back.
Its Instagram strategy alone—which Hansford says goes hand in hand with its “visual first” focus—has gone a long way toward strengthening its communications channels. Of course, the brand has also faced challenges, from supply chain-related issues to the shifting economic climate.
Here, the designer, talks more about what has worked for the brand as it addresses those challenges and what’s next as she ponders global expansion.
This interview has been lightly edited for clarity.
On making Instagram Simon Miller’s main focus
Instagram is a curated platform that’s visual first, and it’s definitely got the age demographic and our fashion customer on there. That’s why it works. I’m not saying that TikTok would not either; it’s just kind of finding the formula. It’s a very different platform. It’s not necessarily “curation first.” Instagram really kind of puts us at the forefront of visual curation and mixes playful and luxury and lets you kind of explore. Also, girls that we’ve partnered with always do a lot of ’gram-heavy stuff.
Keep reading here.—JS
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Taking the temp. From cutting costs to investing in growth, CFOs are dealing with lots of push and pull. Luckily, Coupa surveyed 600 CFOs to figure out strategies that work IRL. See how CFOs are facing the current climate and making plans to drive growth (recession or not) by downloading the report.
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Today’s top retail reads.
Bricks and clicks: Why have some fashion brands (like Alo Yoga) thrived in the virtual world Roblox, while others (Forever 21) have floundered? Hint: It’s about engagement. (Business of Fashion)
Driving force: The Owner-Operator Independent Drivers Association, which represents 150,000 truck drivers, is asking the Senate to block President Biden’s nomination for labor secretary, Julie Su. Its opposition stems from Su’s support of a California worker status rule known as AB5, which the group said has forced independent contract truckers out of the state. (Bloomberg)
Calling the shots: Luxury conglomerate LVMH is reorganizing its C-suite, including promoting Stéphane Rinderknech to CEO of its beauty division. (Glossy)
Inquiring minds: Want to know more about the worlds of science, history, travel, and tech? Check out Curiosity Stream and browse the deepest collection of the best documentaries ever. Start watching with 25% off.* *This is sponsored advertising content.
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Adidas is struggling to decide what to do with billions of dollars worth of shoes from its canceled collaboration with Ye.
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Mango, the Spanish fashion retailer, posted record sales of $2.8 billion last year, amid expansions in the US and India.
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Shein is set to raise $2 billion in funding this month and is reportedly eyeing an IPO in the US later this year.
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Walmart is set to invest $1.5 billion in Mexico and Central America in 2023.
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Fragrance suppliers Firmenich, Givaudan, Symrise, and International Flavors & Fragrances are facing a joint antitrust investigation by Switzerland, the UK, the US, and the EU.
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HelloFresh said it won’t source coconut milk from Thailand following concerns from PETA over some producers’ alleged use of trained monkeys to pick coconuts.
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The numbers you need to know.
It’s common for retailers to acknowledge that data is extremely valuable when attempting to suss out consumer habits and expectations. It is also common for shoppers to say they want a personalized experience—but at what cost?
Survey data from Vericast found that consumers want targeted ads, but they also want a better understanding of how advertisers use that information.
- Nearly half (46%) of respondents said they don’t want their information to be sold, and 39% feel “powerless” in controlling or informing how companies use their data.
- Privacy is more important for baby boomers (55%), Gen X (53%), Gen Z (48%), and millennials (45%).
- However, personalized ads are still valuable, given that 62% of those surveyed said they are positive or neutral.
“Consumers prefer to engage with brands that know what they want and incentivize them with the right offers at the right time, but privacy is a growing concern,” said Meggie Giancola, SVP of sales solutions and strategy at Vericast, in a statement.
Targeted ads do affect shopping habits. One-fifth of those surveyed said they made a purchase after seeing a personalized ad, and 27% said they discovered a brand. Roughly a fifth (21%) said they were reminded of a brand they’ve purchased from before, and 12% used a deal to buy another item from them.
- The most relevant platforms for these ads included Facebook (34%), Instagram (13%), YouTube (12%), and TikTok (8%). They’re also most likely to engage with the advertisements on Facebook (30%), Instagram (16%), YouTube (11%), and TikTok (7%).
“As the digital ecosystem evolves, brands that provide transparency into how they use and protect data will be at a competitive advantage,” Giancola said. “Their marketing will ease consumers’ minds, making it more effective at building loyalty and driving growth.”
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Catch up on the Retail Brew stories you may have missed.
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Written by
Maeve Allsup and Jeena Sharma
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