According to The New York Times, here are three “next wave” luxury e-retailers: “Secondhand luxury (often known as the ‘recommerce market’) is fast becoming big business. The RealReal, an online marketplace that sells pre-owned and authenticated luxury items, was founded by the former Pets.com C.E.O. Julie Wainwright in 2011 and is expected to generate $500 million in revenue for 2017. It has raised $173 million in funding, and last month it opened its first store, in SoHo.”
Category: SHOPPER FYI
BRAND X JOURNAL
CONFAB REPORT The experience is the metric
How to measure the moments that matter?
Ultimately, success in the brand/retail experience must be measured, but what are the metrics? Unlike the past, in the traditional world of brand and marketing alone, measurement is not limited to the media/communications aspects of making brand/retail promises. Now that the remit has expanded across each and every possible interaction, the measurement mandate is considerably more complex. It stretches across the entire customer journey.
RESEARCH REPORT What does the future hold for Shopper?
Internal communications is the chief obstacle
Seventy-three percent say that interest in Shopper is growing. Fifty-percent see Shopper budgets increasing, while 40% see them remaining the same and 10% foresee a decrease. Nearly one-third say they have no established budget for Shopper.
BONUS TRACKS How brand love triggers conversion
By Paul Kramer, CEO, Catapult
Conversion is authentic brand storytelling that is experiential and inspiring. It enables progressive consumer interactions that drive transactions. It is powered by data, targeting, and technology.
BRAND X JOURNAL How Sephora blends community & commerce
Experiential concepts test new ideas
Retail Dive: “With so many digitally-enabled processes in place, Sephora’s members-only social platform, dubbed the Beauty Insider Community, fits right in with the brand’s tech-focused image … The first of Sephora’s experiential concepts, the Beauty TIP workshops are focused on three core concepts: teach, inspire and play … A customer conversion isn’t front-and-center in these stores and that’s probably for good reason. Sephora needs sales like anyone else, but the focus of these workshops is on customer interaction and experience.”