🛍 DTC Daily - Tuesday, Feb 21

🧴 1 - Take a peek into a lavish influencer trip

📰 TL;DR - Branded influencer trips are like the Olympics of influencer marketing. They're pricy, they're flashy, only the best of the best get invited, and the payoff can be huge. Glossy has a rundown of a recent influencer trip put on by Glow Recipe that saw six major beauty influencers get wined and dined in Wyoming. What's super interesting is that Glossy tracked sales for Glow Recipe after the trip and found sales for their Plum Plump Hyaluronic Cream increased by 30% in the week after the trip.

💡 Insight - There are a few key things to note about this trip:

• The influencers were not paid to attend, but were treated to luxury experiences

• There was no contractual obligation to post, but each influencer posted multiple times

• Glow Recipe created shareable moments like a bejeweled product as a gift, and excursions like snow mobiling

If you've ever considered an influencer trip, this breaks down all the nitty gritty and is great inspiration. If you're not as big as Glow Recipe, you can still take away lessons that can be applied to experiences with smaller influencers.

➡️You can read the article here...

🎉 2 - Four e-commerce trends for 2023, according to these experts

📰 TL;DR - Big Commerce talked to a group of e-comm experts to predict the trends for 2023. One of the major themes is social and app shopping — essentially using tech to make the path to checkout as seamless and quick as possible. Another is the rise of B2B markets. Here's a quote:

💡 Insight - We've talked about this before, but we'll say it again: you should be doing everything you can to make the path from product to purchase as easy as possible. We've seen the major e-comm platforms come out with apps or features to improve checkout, and you need to be taking advantage of them. And speaking of B2B, check out the next item...

➡️You can read the article here...

💞 3 - Report: Gen Z is doing B2B differently

📰 TL;DR - A new report from Forrester Research shows that younger business owners — particularly Gen Z — have different expectations when it comes to B2B sales. Whereas older buyers prefer calling up a sales rep, younger buyers want digital and self-serve options. Basically, they want to interact with a B2B business the same way they'd interact with a DTC business as a customer.

💡 Insight - If you're in the B2B world, you need to be adapting your business practices for this new generation of buyers. Look at what makes DTC brands successful — customer service, quick checkout, reliable shipping — and incorporate those into your business-facing sales. Gen Z doesn't want to have to call to get a deal done, so don't make them.

➡️You can read the article here...

👗 4 - Shein expects to double their revenue

📰 TL;DR - Despite reports of a lowered valuation, Shein says they expect to hit $60 billion in revenue by 2025. For context, they reported $22.7 billion in revenue in 2022. That would make Shein bigger than H&M and Zara combined. It's a lofty goal and the FT reported the fast fashion retailer will have to expand to more expensive options to get there.

💡 Insight - People still love fast fashion. Even with environmental concerns, people are watching their wallets closely and looking to cut spending for 2023. If that's the world we're in, and you sell apparel, you need to ask yourself: do you offer low cost, or high value?

➡️You can read the article here...

🪄 5 - Shopify's top 10 updates

📰 TL;DR - Shopify recently released more than 100 updates and tweaks at their Editions launch, which is quite a lot. Dennis Hegstad from Vigilance, a coupon protect app, put together a Twitter thread of his top 10 favorite updates.

💡 Insight - With all the updates, it's certainly helpful to get an expert opinion on what new features are actually worth using. The ones I've seen most talked about on Twitter include one-page checkout, Shopify Promise, and the incorporation of AI with Shopify Magic.

➡️You can read the Twitter thread here...

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