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A reality TV producer’s bet on live shopping.
September 03, 2024

Retail Brew

Deloitte

It’s not Monday Tuesday, and if you don’t still have heartburn from your Labor Day barbecue, this ought to do the trick: While you were debating the relative merits of a second helping of potato salad, Joey Chestnut was downing 83 hot dogs (and buns)—in 10 minutes.

In today’s edition:

—Erin Cabrey, Alex Vuocolo

E-COMMERCE

Dose of reality

Selling clothing on an online livestream Grant Thomas

When Lauren Stevens began her reality TV career, helping Flava Flav, Bret Michaels, and eventually even Travis Kelce, find “love” as a producer on some of the century’s most memorable—and often infamous—shows, she said many believed the nascent genre would simply be a fad. Now, she’s swapped reality for retail, focused on producing content for another new industry: social commerce.

In 2020, losing her excitement for the ever-changing TV industry, she co-founded Orca, a social commerce company producing shoppable livestreams, along with paid and affiliate content, with fellow producer Max Benator. Orca offers brands livestream studios and on-camera hosts and advises brands on their shoppable content, and even debuted its own livestream shopping beauty boutique, Bleu Beauty, earlier this year.

Social commerce is still in its early days, and live shopping particularly so, especially compared to China. But it’s starting to grow. TikTok, which boasts 35.8 million social buyers, has seen shopper growth rates surpassing Instagram and Facebook, per EMarketer, with overall US retail social commerce sales projected to pass $100 billion in 2025. Coresight Research estimates livestream shopping will reach 5% of total US ecommerce sales by 2026.

“A lot of people said live shopping wasn’t going to have a place here in the US, but it’s keeping us very busy,” Stevens, also Orca’s chief content officer, noted. The company produces 400+ shoppable videos every month, working with brands like E.l.f., Nestlé, Estée Lauder, Unilever, and P&G. Stevens shared how it’s working with brands to capture consumers’ eyes and dollars and how her entertainment experience prepared her for the gig.

Keep reading here.—EC

   

PRESENTED BY DELOITTE

Looking ahead

Deloitte

Need to prep your business for the future? There’s no time like the present—and Deloitte can help.

Deloitte and Oracle have their eye on the future of industries. And with deep knowledge of the retail sector, Deloitte IndustryAdvantage™ can help transform and differentiate your business. From in-store investments to cloud solutions and artificial intelligence, retailers can start getting ready for the future…*checks watch*...like, right now.

Deloitte is heading to Las Vegas as the Global Accelerator sponsor for Oracle CloudWorld from September 9–12. Don’t miss the Deloitte IndustryAdvantage: A Future Marketplace, a customized retail experience where you can learn about the transformative power of AI, smart inventory planning, retail automation, and what’s next for the retail space. Chat with the specialists about:

  • the power of loyalty programs in retail
  • how trustworthy AI drives engagement at scale
  • how in-store investments impact the omnichannel experience

Learn more.

STORES

Digitizing discounts

Nordstrom Rack Juanmonino/Getty Images

While a number of retailers have struggled to make off-price retail work online, Nordstrom is breaking the mold. The company’s digital sales increased 6.2% YoY in Q2, and CEO Erik Nordstrom is attributing some of the gains to its off-price banner, Nordstrom Rack.

“The Rack banner’s digital business is a differentiator in off-price retail, enabling our customers to shop when and how they want,” Nordstrom told analysts in an earnings call on Tuesday. “We’ve built and refined industry-leading digital capabilities at NordstromRack.com, which delivered strong results in Q2.”

Keep reading here.—AV

   

RETAIL

Cool toned

Ulta Beauty store entrance sign at a mall, northern Idaho. (Photo by: Do... Education Images/Getty Images

Ulta Beauty reported lackluster second quarter results yesterday, as cooling demand and increased competition pressured sales.

Net sales were up 0.9% YoY to $2.6 billion, but comparable sales dropped 1.2%, as transactions dropped 1.8%. Though the retailer anticipated challenges from Q1 to continue, the results were “short of our expectations,” CEO Dave Kimbell said on the company’s earnings call. “We do not believe these results reflect the strong engagement with our brand, the strength of our operating model, or the performance I know we can deliver over the longer term,” he said.

Keep reading here.—EC

   

SWAPPING SKUS

Today’s top retail reads.

Going global: Chinese consumer brands have ambitions to grow globally, and they are using Singapore as a test market. (CNBC)

Party for one: Solo dining reservations spiked 29% in the last two years, according to the reservation site OpenTable. (the Associated Press)

Book buyer: Leonard Riggio, who helped make Barnes & Noble the biggest bookstore chain in the US, has died at 83. (Wall Street Journal)

See ya there: Join Oracle CloudWorld in Las Vegas from September 9–12. This Deloitte IndustryAdvantage™ on-site, customized retail experience will have the latest in data-powered retail automation, supply chain automation, and smart inventory planning. Learn more.*

*A message from our sponsor.

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