personalization: an opportunity for emerging retailers
DESCRIPTION
The popularity of online shopping experiences has made room for new retail brands to emerge within a saturated market. The clothing brand and e-commerce site Frank & Oak recently hit 1 million members, representing 500 percent year-over-year growth. As a company that designs, manufactures, and sells their own products, they are redefining "vertical integration." This comprehensive ownership allows them a better understanding of their customers, in turn allowing an unprecedented depth of personalization. Ethan Song will present Frank & Oak's narrative of growth and how to own both the product and consumer experience.TRANSCRIPT
THE NE XT WAVE IN VERTICAL INTEGRATIONDIGIDAY RETAIL SUMMIT
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
ETHAN SONG CEO
HICHAM RATNANICOO
—2
FRANK & OAK WAS FOUNDED BY 2 HIGH SCHOOL FRIENDS WITH THE GOAL OF CREATING A GLOBAL BRAND FOR THE INTERNET GENERATION.
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
VALUE DRIVEN
SELF-DEFINED
CHANGE THE WORLD
—3
FRANK & OAK WAS CREATED FOR THE 18-35 MAN: IDEALISTIC, SOCIAL & WITH A DESIRE FOR IMPROVEMENT. SHIPPING 35 000 ORDERS A MONTH.
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
CONSUMER BRAND 1.0Brands are sold through department stores. Brands don’t have a direct link to customers. Stores don’t own their products.
CONSUMER BRAND 2.0Vertically integrated retailers get the product to market faster and at more competitive prices.
CONSUMER BRAND 3.0Leverage technology to integrate the entire customer lifecycle across multiple touch-points.
—4
THE HISTORY OF RETAIL AND THE NEXT WAVE OF VERTICAL INTEGRATION.
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
Accelerators:eCommerce & Mobile
Brick & MortarSocial & Community
Products Experience
Content
—5
THE NEXT WAVE OF INTEGRATION IN FASHION AND CONSUMER RETAIL IS ABOUT CLOSING THE LOOP.
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
BRING YOUR CUSTOMER INTO THE BUILDING OF THE BRAND & PRODUCTS. THE BRAND IS THEIRS.
—6
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
—7
PERSONALIZED EXPERIENCE: THE ABILITY TO CREATE A UNIQUE EXPERIENCE AND BRAND AFFINITY WITH DIFFERENT SEGMENTS OF CUSTOMERS.
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
—8
CONTEXTUALIZE THE BRAND VALUES AND PRODUCTS THROUGH ENGAGING CONTENT & AESTHETIC THAT INFORMS AND EDUCATES.
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
—9
INTEGRATING CONTENT WITHIN THE ENTIRE EXPERIENCE AND NOT AS AN INDEPENDENT CHANNEL. SHOPPING AND CONTENT AS ONE.
DIGIDAY RE TAIL SUMMITTHE NE XT WAVE IN VERTICAL INTEGRATION
—10
MOBILE IS THE LINK BETWEEN THE REAL WORLD AND THE DIGITAL WORLD. WE LIVE IN A MULTI-TOUCH POINT ENVIRONMENT.
