Traditional retailers have a lot to learn from direct-to-consumer brands.
Remember the days when a direct-to-consumer brand could launch a Shopify store and ride a 1 percent Facebook lookalike audience to $5 million in annual revenue basically overnight? That was fun while it lasted.
In working with dozens of brands in each of these camps, we’ve seen firsthand the advantages and disadvantages that both have going for them. While it can be more difficult to affect change in a large omnichannel organization, traditional brands can definitely use the weapons at their disposal to create an advantage for themselves. They just need to know how. Below are some of the most impactful changes these companies can make to maximize their piece of the pie.
Launching their own subscription service allowed them to enter that market without having to establish themselves from scratch, as the newcomers did. Even without the first-mover advantage, they were able to build a business unit on the back of their existing brand equity.During the peak of the rise of DTC, we heard a lot about the “retail death spiral.” Fast forward a few years and pop-ups and showrooms from DTC brands are everywhere.
It’s suspected that more than 50 percent of current BOPIS shoppers end up making additional unplanned purchases while in store – this makes the incremental foot traffic to your stores incredibly valuable.
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