🛍 DTC Daily - Wednesday, Feb 22

💰 A Shopify update that could mean 25% more conversions

📰 TL;DR - Shopify's president confirmed that Shop Promise will be rolling out to more merchants in the US in the coming months. Shop Promise offers n expected delivery date using "intelligent prediction" but it was only previously available to merchants using Shopify's fulfillment network. Shopify says the program can increase conversion rates by up to 25%.

💡 Insight - As we know, delivery info is a big deal to shoppers. Knowing exactly when to expect a delivery — and having it come ASAP — has proven to increase conversions. It's part of the reason Prime is such a game-changer. Ideally, you should already be providing a delivery estimate to your customers, but Shop Promise will make that even easier. It's also smart branding for Shopify as shoppers will begin to recognize the Shop Promise logo across merchants' websites. If you're able to use it, you absolutely should.

➡️You can read the article here...

🤝 How e-comm brands are hiring marketing roles right now

📰 TL;DR - The marketing playbook has evolved for DTC brands, and so has how those DTC brands think about hiring for their marketing teams. This piece looks into how brands are creating more "grown-up" teams that go beyond lower-funnel customer acquisition. Essentially DTC is taking notes from traditional retail and hiring in ways that strengthen the overall brand and leaning into more channels than just Facebook and Google.

💡 Insight - This piece is really about looking at startups that are scaling up, but there are lessons for everyone, here. First is that it could be worth having someone in charge — other than the founder — who takes care of ensuring branding is strong and consistent across all channels and really defining what that brand voice is. Second is seeking talent that can create content across multiple channels, including TikTok or up-and-coming social media apps. Of course, this all depends on how much capital you have to play with.

➡️You can read the article here...

🫘 The "richcession" is coming

📰 TL;DR - The Wall Street Journal has coined "richcession" — a warning that even the affluent are going to cut back during the much-predicted economic downtown. For luxury brands, that spells trouble. This is backed up with sales data showing slow-downs for companies like LVMH, one of the world's biggest luxury retail groups. The fact is that people are planning to cut back on non-essential spending, and that includes luxury goods.

💡 Insight - An important note here is that even high earners are looking for a good deal — or at least a fair price. What that means for you is that pricing is more important than ever. Customers want to know that your products are worth the sticker price. Show them that with customer reviews, testing results, expanded descriptions, or whatever else showcases the value of your goods. And if you're in the luxury space, consider a lower-cost line. Luxury brands do this all the time with outlet versions of their goods or collabs with lower-end retailers, like when a fashion house debuts a collection at H&M.

➡️You can read the article here...

💞 9 tips for creating more repeat buyers

📰 TL;DR - This list offers 9 simple tips for growing a loyal customer base that comes back to buy again and again. One that stood out to me was making sure customers can access their order history which makes reordering easy. Another is rewarding customers for behaviors other than a simple purchase, such as leaving reviews or posting on social media.

💡 Insight - If you're an established brand already you might read these and think duh but if you're a newer brand, this is all very practical and sound advice. Early in your journey, you might be so focused on customer acquisition that you forget the incredible value of customer loyalty. Repeat customers buy more per order and are more likely to recommend your brand to friends and family. You want 'em, and these are tips for how to get 'em.

➡️You can read the article here...

🌱 Sustainability isn't just a nice-to-have

📰 TL;DR - This piece makes the case that sustainability isn't just a buzzword, but a way to retain your customers. A recent report from Shopufy and Astound Commerce showed that customers are willing to pay more for sustainable products and that three out of five buyers pay attention to brands' stance on the environment. Not surprisingly, the segment that cares the most is Gen Z — 62% said their buying decisions are influenced by a brand's commitment to a greener future.

💡 Insight - I mean, I think we can all agree that we don't want the Earth to go down in flames anytime soon. But this piece really makes the case that going green, and meaning it, is a sound business decision. In addition to evaluating your brand's practices for sustainability, it's just smart to be sharing any efforts you make with your customers. Using recycled materials? Offsetting carbon? Engaging in resale? Sing it loud and proud.

➡️You can read the article here...

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