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☆ TikTok Shop is second only to Amazon in a key measure of customer loyalty
▼ + stars: | 2024-04-17 | by ( Madeline Stone | Dan Whateley | ) www.businessinsider.com time to read: +3 min

Earnest, which tracks credit-and-debit-card transactions, found that around 27% of TikTok shoppers came back to make another purchase after five months of their first buy. On this measure, TikTok Shop outperformed other e-commerce platforms, including Temu, Shein, and Etsy, as well as fellow social-commerce channels Whatnot, Flip, and Instagram Checkout. Amazon was the only e-commerce platform that beat TikTok Shop in Earnest's dataset, which looked at customer-retention data between January 2022 and February 2024. "The second I bought my first TikTok Shop product, which was probably a year and a half ago, from that moment on, I started to get more TikTok Shop content." TikTok Shop seems to have become a place for impulse purchases, as well.

Persons: Michael Maloof, Temu, TikTok, Maloof, —, they've, Nicole Rechtszaid Organizations: Walmart, Business, Facebook, Ghost Agency

☆ TikTok Shop is better at keeping customers than Temu and Shein
▼ + stars: | 2024-04-16 | by ( Madeline Stone | Dan Whateley | ) www.businessinsider.com time to read: +3 min

TikTok seems to be doing a good job of getting customers to make multiple purchases on its new shopping platform, Shop, according to data from Earnest Analytics. Earnest, which tracks credit-and-debit-card transactions, found that around 27% of TikTok shoppers came back to make another purchase after five months of their first buy. On this measure, TikTok Shop outperformed other e-commerce platforms, including Temu, Shein, and Etsy, as well as fellow social-commerce channels Whatnot, Flip, and Instagram Checkout. Amazon was the only e-commerce platform that beat TikTok Shop in Earnest's dataset, which looked at customer-retention data between January 2022 and February 2024. "The second I bought my first TikTok Shop product, which was probably a year and a half ago, from that moment on, I started to get more TikTok Shop content."

Persons: Michael Maloof, Temu, TikTok, Maloof, —, they've, Nicole Rechtszaid Organizations: Walmart, Business, Facebook, Ghost Agency

☆ Macy's hasn't closed 150 stores yet. But Target, Kohl's CEOs already smell opportunity
▼ + stars: | 2024-04-01 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Those companies already count many of Macy's shoppers as their customers, according to an analysis of credit card data by Earnest Analytics. Macy's closures could put as much as $2 billion of market share up for grabs. The department store's net sales were $23.1 billion in the most recent fiscal year, and it said the 150 stores that it's closing account for less than 10% of sales. About 63% of Macy's stores have a T.J. Maxx or Marshalls within a one-mile radius, according to an analysis by Jefferies. Off-price stores also draw a similar customer, which tends to be more affluent.

Persons: Macy's, Justin Sullivan, Brian Cornell, Tom Kingsbury, Maxx, Jefferies, Ross, Earnest, Penney, Tony Spring, Corey Tarlowe, Cornell, Tarlowe, Cos, Mercedes Organizations: Getty, CNBC, Nordstrom, Earnest Analytics, Target, Abercrombie, Fitch, Home Goods, Jefferies, Toyota, Maxx Locations: San Leandro , California, United States, New York, Burlington, U.S

☆ Super Bowl 2024: Online superstore Temu doubles down with TV ad and $15 million in giveaways
▼ + stars: | 2024-02-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A year after making its advertising debut at the Super Bowl, Chinese-backed online shopping platform Temu is redoubling efforts in its most important market with a second ad on America’s biggest stage and $15 million in coupons and other giveaways. The Boston-based firm — owned by PDD (PDD), the group behind Chinese online shopping giant Pinduoduo — paid for three ads during the game and two after the game. Commercials for the 2024 Super Bowl sold for higher rates than for last year’s game, with a range of $6.5 million to $7 million per 30-second spot broadcast on TV channel CBS, two individuals familiar with this year’s advertising sales told CNN. “The commercial marks the highlight of a Super Bowl campaign that featured more than $15 million in coupons and giveaways,” Temu said in a statement. As a result, PDD’s market capitalization soared that month, eclipsing that of older e-commerce rival Alibaba (BABA) for the first time.

Persons: Hong Kong CNN —, ”, ” Temu, Seema Shah, ” Shah, “, Temu, spender, Earnest Analytics, PDD, Alibaba, Alibaba’s, Jack Ma Organizations: Hong Kong CNN, Super Bowl, PDD, CBS, CNN, Bowl, Amazon, Super, Facebook, Dollar Locations: China, Hong Kong, Boston, United States, United Kingdom, Mexico, Germany, Australia

☆ Aritzia's mirrorless dressing rooms cause outrage online, but they seem to be a brilliant sales tactic
▼ + stars: | 2023-08-14 | by ( Grace Mayer | ) www.businessinsider.com time to read: +6 min

On social media, though, the biggest issue seems to be the retailer's mirrorless fitting rooms. Aritzia's communal fitting rooms are part of the brand's DNASo why make customers go through this awkwardness? The mirrorless fitting rooms go against a growing trend in retail. Eugene Gologursky/Getty ImagesAritzia's mirrorless fitting rooms go against a growing trend in retail. For Aritzia, mirrorless rooms are part of its DNA.

Persons: Aritzia, Zers, Gen Zers, Becca Bastos, Bastos, commenter, There's, Manini, Madia, Bergdorf Goodman, Eugene Gologursky, we've, Aritzia's Organizations: Service, Columbia Business School, Abercrombie, Fitch Locations: Wall, Silicon, Aritzia

☆ Coach is the new 'cool girl' brand for Gen Z
▼ + stars: | 2023-08-10 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

After years of sluggish sales, Coach is seeing regained interest from Gen Z consumers. Gen Z increased its spending on Coach by 10% so far this year, according to a new report. According to a consumer spending report from Earnest Analytics, consumers under the age of 25 increased their spending on the Coach brand by 10% from January through June of this year. Once self-touted as "accessible luxury," Coach has since updated that message and its offerings to reinvent itself. In doing so, it hoped to tap into Gen Z and Millennial shoppers' values and re-elevate its luxury status.

Persons: Gen, Lil Nas, Earnest, Camila Mendes, Joon Silverstein, Coach's, Silverstein, Z, Todd Kahn, Nas X, Kate Spade, Stuart Weitzman, Michael Kors, Jimmy Choo, Versace Organizations: Service, Vogue Business, Business, Fashion, Capri Holdings, Capri Locations: Wall, Silicon, Riverdale, American, York

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