ClickZ Retail Fashion Newsletter - 09.06.2024 (Internal Send)

PLUS: eBay's Pre-Loved Fashion Week debut and Topshop's potential high street comeback.

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ClickZ
September 06, 2024 • Estimated Reading Time: 6 minutes

Specialty Bites 🍪

Birkenstock has reported strong Q3 2024 results, with a 19% year-over-year revenue increase, reaching €564.8 million. Key markets like Europe and the Americas performed well, while the APMA region saw 41% growth.

Despite this success, the company faces profitability pressures due to production capacity expansion and increased B2B share.

CEO Oliver Reichert emphasized the importance of maintaining growth momentum while navigating industry challenges. Birkenstock's multi-channel strategy and investments in retail expansion will be critical to its future success.

eBay is launching its first-ever Pre-Loved Fashion Week on September 12, in collaboration with the British Fashion Council and the Council of Fashion Designers of America. The event features a live, shoppable runway show called Endless Runway, showcasing pre-loved designer fashion from Khaite, Off-White, and more.

Coresight Research's study reveals 2024 shopping trends: Amazon attracts older demographics, while H&M and Jordan appeal to younger shoppers. High-income consumers favor Nordstrom and TJX stores, while Walmart draws low-income shoppers. Beauty market trends show CVS, Walmart, and Amazon with older shoppers, and TikTok and YouTube with younger ones.

Asos boss José Antonio Ramos Calamonte hinted that the iconic fashion brands, which have been absent from physical stores Arcadia’s collapse in 2020, could start reopening brick-and-mortar locations. Asos, which acquired Topshop, Topman, alongside Miss Selfridge and HIIT in 2021 for £330m, revealed it had sold a 75% stake of the brand to Heartland, the investment firm owned by the Holch Povlsen family.

Spanish fashion giant Mango continues its UK expansion with a new 440 sq m store at Essex's Lakeside Shopping Centre in the UK.

The location showcases Mango's 'New Med' concept, blending Mediterranean-inspired design with sustainability. Featuring warm tones, natural materials, and a curated selection of womenswear, the store is part of Mango's ambitious plan to open over 20 UK locations in 2024.

This strategic move follows recent openings in key markets and underscores the brand's commitment to strengthening its international presence.

From Burberry to ASOS, major players are reshuffling their top teams as they adapt to evolving market challenges. Notable moves include CEO transitions at M&S and creative director appointments at luxury powerhouses.

This leadership merry-go-round underscores the industry's push for fresh perspectives in turbulent times. Read on for our full breakdown of who's in and who's out in fashion's corridors of power.

Performance Platters 🍽️

In August 2024, TikTok and Amazon teamed up for a seamless shopping experience directly within the TikTok app. This timely partnership, coming just before the Q4 shopping season, leverages TikTok's massive user base and Amazon's e-commerce dominance.

But how will it impact brands?

A major challenge for brands is measuring the halo impact of social media interactions on Amazon sales, as Amazon's data exists in a walled garden and relies on a last-click attribution model, potentially overlooking external contributions that drives product discovery.

The partnership highlights the need for more holistic marketing measurement solutions as the line between social media and e-commerce blurs.

B2B marketing teams are rapidly adopting AI and ML, with 25% using these technologies in production. Leading adopters, primarily in tech-savvy industries, face challenges like data privacy and talent gaps. Despite hurdles, AI enhances content generation and operational efficiency, with 81% using GPT models like ChatGPT.

Google's digital ad revenue is growing rapidly, outpacing Microsoft's. In 2024, Google's US ad revenues are projected to hit $77.49 billion, driven by its search dominance. However, a US ruling against Google's search monopoly could shift market dynamics. Marketers should consider investing in leading search platforms.

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