Boomers are far more likely than any other group to be aware of price increases. When prices go up, they cut back on non-essential items and avoid impulse buys, with just 53% succumbing to them.
The convenience of sourcing online is fraught with more pitfalls than most of us want to admit. Try finding adequate photos of a vintage piece's condition-close-ups of the fabric, video of damaged areas, any images of a piece's rear or underside!
Fashion fans are more visible - and influential - than ever before. The Met Gala - often called fashion's Super Bowl - garnered more engagement across social media and press than the actual American football championship last year, according to Launchmetrics. Just like Swifties, fashion fanatics gather online in communities and comment sections on accounts like Gvishiani's to dissect collections, magazine covers and red carpets.
Traffic is not the problem. The buying path is the problem. Fixing conversion first often unlocks growth with the same budget. This topic matters more now. Ad costs rise. Competition is tighter. Buyers also have less patience. A store can attract the right visitors and still lose them.
But the facts are here: Wall Street darlings Netflix and Snap saw their valuations drop by about 80% in a few weeks, Meta has seen a 34% decline in its overall reputation since its inception (sorry Mark, the Hawaiian honeymoon is over) and Sundar Pichay seems to be spending most of his time talking about his spoiled Googlers needing to come back down to Earth.
Just like rock and roll, Black Friday is something imported from the USA that has gone from niche to consumer frenzy levels in a few short years. What originally started as a physical retail initiative has now morphed into a digital one, with offers pinging onto our phones as customers spend more of their lives in the digital, mobile-first realm. With so many brand vying for customers attention, paid online activity is a necessity in developing a smart strategy to win customers not only at this time of year, but to also inform your strategy for the future.