Approaching the "New Normal": how fashion brands are adapting their marketing strategies. New Report from Launchmetrics
Launchmetrics, has released a new report which uncovers how key players in fashion retail across, mass, premium and luxury, have adapted their marketing strategies during the COVID era.
The study from the leading Brand Performance Cloud used by Fashion, Luxury and Beauty (FLB) includes detailed brand performance as well as cross-industry trends.
With the recent global pandemic, brands and retailers strategies were completely displaced and provided huge challenges when it came to connecting with customers. Marketing plans concentrated on digital channels and ways to acquire new customers and deepen connections with current audiences.
The report (which is free to download here) uses Launchmetrics' proprietary algorithm, Media Impact Value (MIV) to provide brands with a unified currency to measure the value of all marketing activities across Voices, Channels and Markets. It analyses more than 100 quantitate and qualitative attributes to create an accurate method of measurement.
Retailers such as Selfridges grew its' MIV by 15% in the first quarter of 2020, as the department store increased its engagement with media and influencers, further reaching Gen Z customers.
By comparison, NET-A-PORTER's MIV increased 41% in the same period, showcasing its' impact in online retail.
High street retail players like H&M saw less of an increase in their MIV, seeing a 12% rise in growth between January and April 2020, with a rise linked to consumers seeking more relatable information sources.
Overall brands, such as H&M, saw a higher average MIV per post on social media at $13,600, compared to Selfridges at $4,700.
This latest report helps brands and retailers to better understand how UK and Nordic brands are performing and can leverage this information when responding to the impact of COVID-19 and building a sustainable business model for the future.
Download your complimentary copy of the report here
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