Richa Patel’s Post

Strategic Synergy: My Perspective on the Amazon-Saks Partnership🛍️ As a seasoned marketer deeply engaged in the retail sector, the collaboration between Amazon and Saks signifies a strategic maneuver that resonates profoundly with industry dynamics. The article from Business of Fashion highlights this alliance as a proactive response to the competitive pressures posed by e-commerce giants like Temu-Shein. From my professional viewpoint, the Amazon-Saks partnership represents a symbiotic relationship aimed at leveraging complementary strengths. Saks, renowned for its luxury brand heritage, gains access to Amazon’s robust digital infrastructure and expansive market reach. This synergy enhances Saks’ omnichannel capabilities, facilitating a seamless integration of online and offline retail experiences. Conversely, competing directly with digital-native platforms requires agility and innovation, qualities exemplified by Temu-Shein. The Amazon-Saks collaboration underscores the importance of strategic alliances in navigating the evolving retail landscape. It underscores the imperative for traditional retailers to embrace digital transformation and collaborative partnerships to sustain competitiveness and enhance customer engagement. Looking forward, such partnerships will continue to redefine retail strategies, fostering innovation and setting new benchmarks for customer-centric retail experiences. As the retail landscape evolves, integrating digital and physical retail channels will be pivotal in meeting consumer expectations and driving sustained growth. In conclusion, the Amazon-Saks partnership exemplifies strategic foresight and adaptation in an increasingly digital marketplace. It underscores the transformative potential of collaborative initiatives in addressing industry challenges and driving sustainable business growth. Reference: Insights sourced from Business of Fashion’s article on the Amazon-Saks deal. https://lnkd.in/eb_sqjXT https://lnkd.in/eb_sqjXT

I'm not surprised to see luxury brands embracing clienteling through SMS, but they're leaving money on the table. Let me explain why: This article by Glossy summarizes how clienteling is shifting online, including personalized texts with lookbooks and product updates. While this is effective on a personal level, akin to texting a friend, the challenge lies in scaling this approach plus reaching audiences who shop online. (Interesting side note, at Huxly, we don't refer to our chat experiences as 'chatbots' but rather as OneOnOnes. Building close 1:1 relationships is our bread and butter.) If I were to meet with Rodrigo Bazan at Thom Browne, Inc. or Carlin Rollenhagen, I'd encourage them to .... 1️⃣ Consider providing a more immersive brand storytelling experience with the successful elements of clienteling, incorporating personalized product recommendations and exclusive product drops via Instagram DMs, Messenger, and WhatsApp. 2️⃣ Chat on Social vs SMS offers a variety of multimedia options like videos, text, audio, links, and GIFs, allowing audiences to engage in a more interactive way. It's not just about making sales but also fostering connections through entertainment and brand education. (Extra bonus, number 1 place people are spending time online, the DMs.) 3️⃣ AND THEN provide a live chat element for those who need that personalized shopping assistance. With this approach, our clients have seen impressive results: * 2% click-through rate * 25% bounce rate * 35% click-through rate (CTR) * An average of 5 minutes spent engaging with the content. I've even seen brands like Christian Dior Couture using chat on social media in a very creative way (next post on social). It's very validating as Huxly leads the charge in chat marketing experiences. This medium is for every brand, the secret is how you utilize it.

No two brands are the same, no two strategies will work for everyone. No theory or instrument of technology works for every brand the same. No merchandising, marketing, buying or supply chain principles can help a brand that is not properly connected with the market. If you had a dollar for very idea chased because it looks good, feels good you would have millions. The biggest hurdle for a brand is to simply belong and have a place in the minds and hearts of consumers. It’s not easy and that’s why so few occupy the number one, two or three market positions in all industries. But there is room for a lot of retailers the key is to being trusted and consistent in product, service and communication. However, if it’s number 1,2 or 3 you want to play in you will have to work a lot harder. However, we all need to be aware it is going to get much tougher to stay in business, the 50-60% that live paycheck to paycheck and debt, they are looking for value. Another 20% are fundamentally able to live a little bit better and can spend more. The other 20% can be broken down into financially sound, wealthy and wealthier the latter being the top 1%. The numbers will change but not how you think. That 60% may become 70% you see what this last run with inflation has done its created a bigger gap with affordability. And it is a global phenomenon. I am former C level executive, current board chair, advisor, investor and public speaker. I enjoy helping businesses and leaders improve their potential to win in the marketplace. I bring real world experience to the table. #retailing #strategy #ceo #technology #innovaiton #economy

Retailers need to become shopper centric organizations in order to win, that is my key take away from the great insights Melissa Repko and Gabrielle Fonrouge provided. Sounds easy, but will need a huge transformation. Today most retailers are product and process driven organizations with a tendency to ignore the shopper. Stores will of course not disappear but need to be far more integrated with online. Shoppers don't think in channels, they shop for brands. In-store experience will be key to stay relevant. Technology is important, but only relevant if used in a shopper as well as sales associated centric way. Happy to discuss Michelle Gass, Jens Grede. Geoffroy van Raemdonck, Trina Spear, Chris Nicholas, Kara Trent, Tom Ward, Yael Cosset, Marc Lore, Dave Kimbell

A new business model revolving around wholesale and e-commerce is to be established in the region, according to the update. Part of this new business model includes optimising the company's structure, as well as setting up a more flexible and scalable European distribution centre. Image: Courtesy of Esprit 𝐄𝐬𝐩𝐫𝐢𝐭 '𝐬 𝐑𝐞𝐛𝐫𝐚𝐧𝐝𝐢𝐧𝐠 𝐄𝐟𝐟𝐨𝐫𝐭𝐬 𝐒𝐭𝐮𝐦𝐛𝐥𝐞: 𝐖𝐡𝐚𝐭 𝐖𝐞𝐧𝐭 𝐖𝐫𝐨𝐧𝐠? ⁣⁣ Retail giant Esprit faces an uncertain future after its ambitious rebranding campaign failed to gain traction. The company is currently seeking new investors after filing for insolvency in Europe and closing its US stores. ⁣ Rebranding aimed to recapture Esprit's 1980s glory days. The strategy involved new collections, marketing campaigns, and store openings in North America. 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐰𝐞𝐫𝐞𝐧'𝐭 𝐫𝐞𝐜𝐞𝐩𝐭𝐢𝐯𝐞. Sales continued to decline, leading to layoffs and store closures. ⁣ 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐢𝐦𝐩𝐚𝐭𝐢𝐞𝐧𝐜𝐞 𝐢𝐬 𝐛𝐥𝐚𝐦𝐞𝐝. Some former employees say the company's owners prioritized a quick turnaround for a potential sale, leading to rushed decisions. 𝐋𝐚𝐜𝐤 𝐨𝐟 𝐫𝐞𝐭𝐚𝐢𝐥 𝐞𝐱𝐩𝐞𝐫𝐭𝐢𝐬𝐞 𝐜𝐢𝐭𝐞𝐝. Critics say the leadership's background wasn't ideal for navigating the complex retail landscape. 𝐊𝐞𝐲 𝐥𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐨𝐫 𝐟𝐚𝐬𝐡𝐢𝐨𝐧 𝐛𝐫𝐚𝐧𝐝𝐬 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐢𝐧𝐠 𝐚 𝐫𝐞𝐛𝐫𝐚𝐧𝐝: Focus on long-term strategy. Rebranding is a marathon, not a sprint. ⁣ Understand your audience. Don't get lost in nostalgia; cater to today's consumers. Experienced leadership is crucial. The right team can make or break a turnaround effort. ⁣ #Esprit #retail #rebranding #BusinessModel #fashionbusiness #Linkedinnews

In his article today, Sam Silverstein from Grocery Dive, calls out the key issues confronting retailers as we accelerate up and out the exponential growth curve of tech-fueled innovation. "Rapidly advancing technology is presenting grocers with unprecedented opportunities to move their businesses ahead, but the industry’s tendency to move slowly to test and implement new concepts poses a central challenge for retailers as they look to embrace change, experts said during a webinar on Tuesday. The issue is becoming especially urgent for grocers as artificial intelligence upends long-established processes at the heart of retailing, threatening to put retailers that don’t make adjustments fast enough at a substantial competitive disadvantage, said Gary Hawkins, founder and CEO of the Center for Advancing Retail & Technology." This and other key issues were surfaced during the launch webinar for Bionic Retail, my latest book that's now available at Amazon, Barnes & Noble, and other bookstores. I was joined by Tom Furphy, Zach Bello, Doug Baker, Shekar Raman, and Mike Stigers for a great discussion around the challenges and opportunities retailers have as they prepare for a future arriving sooner than expected. Thank you to all who joined our spirited discussion! Bionic Retail is now available here: https://lnkd.in/gNDY8baC Center for Advancing Retail & Technology (CART) #retail #retailtech #retailinnovation #retailstrategy #grocery #groceryretail #grocerytech #cpg #cpginnovation #techinnovation #fmcg #fmcgretail https://lnkd.in/gFxcKMXu

NEWS WE’VE FOLLOWED THIS WEEK: U.S. retail sales rose a larger-than-expected 0.6% in December (seasonally adjusted) from November, per the Commerce Department Consumers spent $1.17 trillion online globally this holiday season, per Salesforce. China’s luxury market is expected to grow 4.0% - 6.0% in 2024, per The Business of Fashion, outpacing growth both in Europe and in the U.S. The annual Knights100 Most Sustainable Corporations in the World was announced. The National Retail Foundation’s NRF 2024 key topic this year was Artificial Intelligence, especially generative AI models M&A AND FINANCING NEWS ROSE ET MARIUS (fragrances) was acquired by Bogart. Restaurant Brands International (Burger King owner) acquired Carrols Restaurant Group (its largest franchisee) for $1B. The Main Rum Company was acquired by Platinum Equity from The Riverside Company. Eurazeo invested €25M in EX NIHILO PARIS (fragrance). Timeline (biotch) raised $66 M from L’Oreal and Nestlé. nutpods (dairy-free coffee creamer) was acquired by MPearlRock from VMG Partners. The Edit LDN (sneaker resale platform) was sold to Brandalley. MidOcean Partners invested in re-sourcing (professional services). The Honey Pot Company (feminine care) sold a majority stake to Compass Diversified (NYSE: CODI). Timeline (biotech) sold a minority stake to L'Oréal. TrusTrace (supply chain software) raised a $24M round led by Circularity Capital. CenterGate Capital invested in TransGo (auto aftermarket parts). Gr10k (workwear- and military-influenced apparel brand) raised capital from Underscore District. STYLE CAPITAL SGR S.p.A. is evaluating an investment in New Guards Group. Cherry Field Apparel (textiles) acquired AFRICA APPARELS EPZ LIMITED (Kenya facility).  Diamond Sports Group (Bally Sports parent) entered into Chapter 11 bankruptcy protection and has negotiated a pathway to solvency with Amazon. PUBLIC COMPANY & EARNINGS NEWS BIRKENSTOCK beat sales targets. Richemont reports slower growth in holiday.  Burberry issued a profit warning following declining sales. Uber is shutting Drizly, (alcohol delivery), after acquiring the company for $1.1B in 2021. EVENTS On Wednesday January 24, 2024 the Retail Marketing Society is hosting the NRF & ICR Conference. Carla Casella, Marie Driscoll, CFA , Jan Rogers Kniffen from RMS and CBUS’s Ken Hewes will be guest speaking! Click here to learn more information: https://lnkd.in/eTPeKpFP BEFORE YOU GO The National Football League (NFL) Division Championships playoff round are Sat Jan 20 & Sun Jan 21.

It is an enchanting realm, where fabrics weave dreams and style reigns supreme. In this fascinating world, one name stands out as the maestro who has orchestrated a symphony of glamour – Rocky Star. #retailnews #retailtrends #retailsector #retailindustry #retailing #retailresults #retailupdates #businessnews #retailgrowth #retailsectornews #retailindia #retailreports #retailtechcase #retailtrends #retailbusiness BY - Nandini Banerjee, Managing Editor, IndianRetailer.com & Retailer Magazine

From startup to South Africa's fastest-growing fragrance company, it's been an exhilarating journey for the JUCE team! Joining JUCE in May 2023 and launching just two months later was no small feat. The task of rapidly growing the company fell on our shoulders, and I couldn't be prouder of the Marketing Team's dedication and hard work. Leading a Marketing team is never an easy feat, however, working with experts in the field helps tremendously. Having come from an agency background, I understood the importance of brand positioning and resonance. Together with Armand Kotze's creative genius, we crafted a story that captivated our audience, day in and day out. But we didn't stop there. Khazimla Nxu's social prowess took our brand to new heights, engaging our community and keeping them hooked on our journey. Of course, none of this would be possible without the unwavering support of our team. Sebastian Rodenburg, Ashleigh Ratcliffe, and Nico Duvenage have been instrumental in our success, each playing a crucial role in our journey. Sebastian's leadership has been indispensable, guiding our organization through challenges and seizing new opportunities. Ashleigh's meticulous management ensures that our brand remains consistent and compelling across all channels, leaving a lasting impression on our audience. And Nico's technical expertise has revolutionized our online presence, expanding our reach and impact. In the startup world, the line between success and failure is razor-thin. Yet, through our collective experiences and commitment to quality and craftsmanship, we've navigated this tightrope with precision. As we continue to grow, our dedication to excellence remains steadfast. Here's to the next chapter of our journey, filled with innovation, resilience, and a relentless pursuit of greatness. Click the link below to read our recent quarterly report and strategic partnership with WE ARE EGG https://lnkd.in/dX3dtGPh #JUCE Loxworth Capital

Retailers have often had a bad reputation in the investment world, perceived as highly competitive and frequently operating on low margins. However, behind this perception lies a business model that can be quite attractive if its footprint expansion is managed properly. From supermarkets to fashion stores, each one presents its own set of challenges and opportunities. In this post, we're going to dive into this business model to understand what may or may not make a company an interesting investment opportunity, and begin to grasp the most important parameters for understanding this business model and comparing it against its competitors. #retailers #investing #businessmodel https://lnkd.in/dnJWNRub