LVMH sales see a sharp slowdown … Next to buy Fat Face … Jigsaw’s sees strong sales of ‘back to office’ attire … Low ticket items lead sales during Oct Prime Day … IMF reverses economic outlook
The Ideal Influencer Offers a Vision of ‘Your Life, But Better’
Social shoppers also said at a higher rate than social media users that influencers they follow should have lifestyles like their own.
This is an example of how imperative it is to balance the tension between relatability and aspiration in influencer content, per the Morning Consult research.
FINANCE
LVMH (France) reported Q3 sales grew 9% to €20 billion ($21 billion), a sharp slowdown from the 17% growth seen last quarter. Analysts proclaimed an ‘end to the roaring ‘20s’ and forecast a softer H2, per the Financial Times. Sales growth in Asia (excluding Japan) fell to 11%, from 34% in Q2.
Jigsaw (UK) has reported sales rose 19% to £57 million ($69 million) as consumers purchased suits, shirts and smart dresses as customers refreshed their wardrobes amid a return to the workplace, per The Times. EBITA rose 28.6% to £3.6 million ($4.4 million).
Selfridges (UK) reported full year sales rose 30% to £843 million ($1,022 million) last year, nearing their pre-pandemic level of £853 million. Still, the retailer lost almost £40 million ($48 million) last year despite a surge in debt interest costs.
Next (UK) is acquiring Fat Face (UK) for £115 million ($139 million). Fat Face recorded sales of £282 million ($34 million) in the year to May 2023, while profit before tax was £19.5 million ($24 million).
N Brown (UK) reported a pre-tax loss of £4.1 million ($4.8 million) for the 26 weeks to September 2. The online retail group’s brands include JD Williams, Simply Be, and Jacamo.
Victoria’s Secret & Co. (USA) narrowed its projected losses for Q3, citing international growth stemming from its plans to boost business despite weaker demand for intimates. Victoria’s Secret will maintain its full-year outlook for a revenue decline in the low-single-digit range and an earnings loss.
PODCAST
Data-Driven Strategies for Email Marketing
We send and receive hundreds of emails each week, but how often do we really spend time thinking about how we can use email to sell our products or build customer relationships?
In this podcast Scott Cohen, an email marketing and automation veteran who has worked with Fortune 500 companies as well as startups, talks about how brands can use data to drive sales and boost e-commerce conversions.
You’ll Learn:
- Where brands might be leaving money on the table, when it comes to email marketing.
- Benchmarks for email frequency and response rates.
- The importance of reaching the right people, not just more people.
- What might be next for email marketing.
E-COMMERCE
Consumers shifted to small ticket purchases (under $20) during Amazon’s October Prime event, with household basics being a top category, per Numerator.
- 53% of Prime Day shoppers say they purchased items they’d been holding off on buying until they were on sale.
- The #1 best selling item was the Amazon Fire TV Stick. #2 Temptations Cat Treats. #3 Echo Dot 5 (per Numerator data)
MARKETS
There’s growing sentiment that the ongoing Ukraine-Russia war and rising tensions in the Middle East could wipe out what was looking like a ‘soft landing’ for most global economies, per attendees at the recent International Monetary Fund (IMF)’s annual meeting in Marrakech (Oct 9-15).
Higher borrowing costs will be required during the “last mile” of its initiative to subdue inflation, per Andrew Bailey, the Governor of the Bank of England. He added that he remains committed to his goal of getting price rises back down to 2%.
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