🛍 DTC Daily - Monday, Apr 3

Today's DTC news, tips, & tools you need to know

💸 Millennials to lead e-commerce spending

📰 TL;DR - According to a new, international study, millennials will be global leaders when it comes to e-commerce purchases in 2023. In fact, 73% of millennials plan to spend the same or more online this year. In particular, health and beauty purchases will be very popular. The study also dug into spending habits and found 70% of millennials are happy to spend full price on those health and beauty products.

💡 Insight - This conflicts with another recent study we wrote about showing Gen Z is going to be the spendiest, although this study is bigger. Either way, it's no surprise the digital native generations are the most likely to spend online. And if millennials are going to be shopping online, they're a good target demographic for your marketing efforts. Here are some tips about marketing to millennials.

📈 13 crucial metrics to track

📰 TL;DR - No matter what e-commerce platform you're using, you're probably seeing a ton of data on the daily. You may even be using extra apps or services to get even more of those sweet, sweet numbers. This Twitter thread digs into the 13 metrics you really need to keep on top of to measure the health of your business. That includes CAC, ROAS, AOV, CVR... but don't worry, he explains what exactly each of those means.

💡 Insight - This is a great, simple breakdown of all the acronyms you may hear in the e-comm world if you're new. And if you're not new, it's a reminder of what numbers to prioritize in your data. I also like how Lorenzo gets into the why of each stat. If you don't currently have an easy way to track all these stats, start looking into solutions that will give you a holistic look at your brand's success.

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🐇 Mad Rabbit tattoo care raises $10 mil

📰 TL;DR - Mad Rabbit has raised a cool $10 million in fresh funding. The brand makes tattoo aftercare products, like lotion, sunscreen, and body wash. The brand is also a cool success story, starting with just $600 in 2019 by a couple of college kids. They went on to get investment during an appearance on Shark Tank and now, as you can see, they've now attracted other investors.

💡 Insight - This is an example of a very smart product coming at a very smart time. Tattooing has only increased in popularity year over year, but aftercare has traditionally been word-of-mouth use of pharmacy staples. But people pay a lot of money for good ink, and it makes sense that they'd be willing to spend a bit more to take care of that art. If you want to hear more from the founders, watch this podcast episode.

🌿 9 eco-friendly products to sell

📰 TL;DR - The Oberlo blog recently listed trending product categories for 2023, and one of them was eco-friendly goods. In this piece, they list some ideas for what those eco-friendly products could be. Such as: sustainable apparel, home goods, ethical pet products, and recycled fitness gear.

💡 Insight - Truly almost any category of goods can be reinvented to be eco-friendlier by reducing plastic, using recycled materials, using biodegradable materials, and other tweaks. Making sustainability a loud part of your brand's values is one way to set yourself apart from competitors, and we also know Gen Z digs a sustainable brand.

🤣 April Fools' brand pranks roundup

📰 TL;DR - In case you missed it, April Fools' Day was on Saturday and, as usual, brands were eager to get in a gag. Here's a roundup of some of the more successful brand pranks. I particularly like the prank from Youly, a period care brand. They made a fake play on the classic game Operation, except you remove PMS and period symptoms. It's a harmless joke that also supports their branding — very smart.

💡 Insight - Pulling off an April Fools' prank as a brand is a tricky business. Inevitably, someone will publish a list of the worst and more cringe attempts at humor, and you don't want to be on that list. In fact, many columns have been written begging brands to give up the day altogether. If you're going to do it: keep it light, keep it in line with your branding, and truly a single tweet or post will suffice.

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