‘You can’t control your story on Amazon’: Retailers sound off on their biggest challenges
At Digiday’s Retail Forum in New York City on Thursday, more than 100 marketers gathered to hear from retailers like Rent the Runway, Away, Eloquii and Rothy’s that spoke on topics like competing with Amazon, controlling data and determining their return on investment when acquiring new customers.
During a town hall session, which operated under the Chatham House Rule, marketers debated their most pressing concerns. Here are the major takeaways:
“With some retailers, it’s really difficult to get feedback on how your product is performing in-store. That’s why we have people in stores. We get permission from our retailers to go into certain stores, and we intercept people in the aisles. We pre-recruit employees to talk to them, go into their homes and talk through their whole routines. We’re looking at everything — even at their eyes from the moment they enter the store. We go deep with these people.”
Doing more work in-house
“I’m super excited to build out an in-house team, but we have to make sure whoever we hire is supported because they have a lot to execute.”
“It’s hard to find exactly who we need. I interviewed five people in one week.”
“The things we do in-house, we get very excited because they can be done on an ongoing basis.”
“How people in-house work cross-functionally is really challenging.”
On getting the message right with consumers
“We’ve had to do damage control. There have been instances when the messages have been true to the company, but we missed on tone and the reaction was heated. We reached out in a very human way to say we understand where you’re coming from and then the next time around we changed our tone.”
On working with Amazon (or not)
“We have not been on Amazon because you can’t control your story, especially with a 100-year-old brand. That allowed us to revamp our e-commerce strategy. We knew that unless we invested in a new website, it wouldn’t warrant any spend to drive traffic there.”
“A lot of people outside the U.S. are not using Amazon. It’s a different market. If you’re headquartered in the U.S. but have offices in the U.K. or Asia, how do you scale that? They don’t have that global capability that you might expect from such a large company.”
“There are mixed feelings at the top whether we use it as a customer brand awareness platform. One thing is photography. To put a product on Amazon, we have to reshoot it specifically for them.”
“We’re not getting a lot of information from them on how we should launch on that platform, which makes it confusing.”
Cheat Sheet: Shopify’s Shop Pay integration will share customer purchase data with Google
Allowing retailers to sell for free, and adding more payment options, makes Google itself more of a shopping tool.
LG kicks off series of live stream shopping events produced in-house
If a consumer sees something they like, they can click on the product and will be taken out to the LG website to complete their purchase.
Loyal and App-y: How QSRs are leaning into rewards programs to boost mobile orders and sales
Brands were forced to find ways to reach customers in their homes and fast-food restaurants, including McDonald’s and Burger King, found answers by investing in loyalty programs.
SponsoredHow retailers can be ready for holiday shoppers this year
Suchi Sastri, managing director and partner, Boston Consulting Group As the holiday season approaches and the pandemic continues to evolve, retailers want to know what to expect. Will e-commerce continue to grow at the rate it did last year? How big of a role will in-store shopping play in holiday shopping? While it’s still early, […]
Cheat sheet: Etsy beats earnings, turns focus to adding more revenue sources
Etsy is still growing beyond a blast of mask sales last year and now needs to manage 4.7 million sellers and 90 million buyers.
Member ExclusiveDespite hungry VCs, DTC brands are rethinking their fundraising approach
This is the latest installment of the DTC Briefing, a weekly Modern Retail column about the biggest challenges and trends facing the volatile direct-to-consumer startup world. Join Modern Retail+ to get access to the DTC briefing–as well as all articles, research and more. Before 2020, some founders and investors were starting to warn that most consumer […]