“Online sales increased 13% to $575 million during a quarter in which the retailer’s same-store sales slumped for its major brands. Without the $66 million in web growth, Gap’s sales would have been negative for the quarter.”
“Richard Philips, Alex Katz, Yoko Ono and more create fashionable tees in special UV sensitive ink.”
“We have the world’s best collection of American brands coupled with a strong economic model and runway for global growth,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “As the retail landscape evolves, we continue to deliver on our omni-channel roadmap and focus on owning the shopping experience of the future.”
Every year Austin opens it’s city to over 30,000 visitors for the notorious SXSW festival and last week we joined the lineup with our first event! With over 500 attendees crossing the threshold to take in three hours of panels, talks and face-to-face meetings at the Mentorship Hub. Here are the best bits from the conversations that took place.
First up, ” Onboarding Tech” with Amy Walker, Director of Online Marketing at Neiman Marcus, Jen Rubio, Global Director of Innovation at AllSaints and Will Young, Director of Zappos Labs at Zappos.com
All speakers emphasised their preference for finding new tech companies through networking and receiving recommendations from venture capital firms over receiving cold calls and emails.
Brands don’t want to be subjected to hard sales pitches that make unrealistic promises, but would rather engage in a conversation with a startup that has done extensive background research about the brand, has contacted the relevant department to pitch, and already has an idea about what the challenges may be and how they could be tackled. And naturally, if the technology is easier to onboard, then brands will implement it much faster. Young drives home this point “If you set the expectations we are doing something really interesting, that you might be interested in and we would love to learn what your challenges are […]’ it’s much more of a conversation than guns blazing sales pitching. And then I leave that meeting feeling like I wanna continue that conversation.”
And what technologies are brands looking for? Brands want to increase their conversion rates and their ROI in an engaging and sustainable manner, rather than invest in a fad that attracts media attention. What tools can help them seamlessly merge their content and their commerce? What can help them build an online community by telling their brand story?
Our second panel focused on content curation, featuring Rachel Tipograph, Director of Global Digital and Social Media at GAP, Kristina Di Matteo, Senior Digital Marketing Manager at Kate Spade and Katalina Sharkey de Solis, Director of Digital at Chanel.
Tipograph cited simplicity as key, it’s at the core of GAP’s brand and that filters into all of their processes, whether it’s creating content, or onboarding a new start-up. This also rings true for the Kate Spade brand, who have a tiny team creating all this fantastic content, but if it’s too complicated to onboard it just doesn’t work.
With luxury, Sharkey de Solis pointed out that social media channels engage aspirational and potential luxury consumers much more than they do existing consumers. The challenge for them is finding a way in which to excite current consumers, which means, “We’re really looking for experiential technologies because with this very high-end consumer, they’re not necessarily wanting to engage with the brands on [social media] channels” – Sharkey de Solis
And, though traditional long-term branding campaigns may not be devised with specific measurement matrices in mind and may be ideally measured qualitatively, Di Matteo emphasised how difficult it is for brands to quantitatively measure the success of more fast-moving online campaigns. “If it were up to me, I would create the coolest reporting tool that would allow for me to understand everything that’s happening and have it really succinctly tie up into my [ecommerce] data because, at the end of the day, our goal is to generate sales, but also be able to tell a great story.” Anyone got an idea for this?
Last week’s event was a milestone for Decoded Fashion, and you can be sure to find us at next year’s SXSW.
Reported by Anna Abrell
Rachel Tipograph is “making Gap cool again for the first time since Bill Clinton was President,” according to Business Insider. As Gap’s Global Director of Digital & Social Media, Rachel oversees strategy, implementation and measurement. She judged the pitches at the world’s first Fashion Hackathon, and we chatted with her on what tech she can’t live without.
Decoded Fashion: What is the most useful technology to you in your job as Global Director of Digital & Social Media at Gap?
Rachel Tipograph: My iPhone. The social web doesn’t care about time nor space and having a computer in my pocket always allows me to do my job from anywhere and anytime. And Radian6. Social media stretches across every discipline of the business, and Radian6 allows anyone from the C-suite to community managers listen to conversations about Gap worldwide.
DF: What areas of fashion-tech are extremely crowded?
RT: Affiliate programs, ad tech, and SaS for social media. With the explosion of content, conversation and data happening across the web, one of the first opportunities entrepreneurs addressed was 1) how to turn massive amounts of data into meaningful interactions, and 2) turn those interactions into something that’s actionable in the sales funnel. As a result, there are an abundance of companies that have come to be in the affiliate space, ad tech and SaS for social.
DF: What areas of fashion-tech are relatively unexplored?
RT: In-store technologies and enterprise SaS. 2013 will be the year the B-to-B space explodes with innovation. Many entrepreneurs are taking learning from the B-to-C space and applying it to B-to-B. In addition, IT technology is improving at rapid speed, the cost of technology is becoming more affordable, all of these variables will influence innovation within organizations.