Shopper Experience
29 April 2022
Home shopping for the next gen
PrivCo's The Daily Stack offers a look at a retail reinvention. It's QVC meets DTC.
A look at Bambuser's live event from Ted Baker (Screenshot by Bambuser)
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This article originally appeared in The Daily Stack, a daily private market insights newsletter by PrivCo, a private company intelligence platform.
From brick-and-mortar stores to digitally native brands and back again, retailers are always trying new ways to reach new customers.
Increasingly, it seems brands are turning to old methods and making them new. Direct mail campaigns were left for mattress companies and grocers until DTC brands made them cool again. Now, it’s home shopping's turn for a rebrand.
The leaders of home shopping
QVC is the first company that comes to mind, reminding me of previous bouts of insomnia, up at 3 a.m. watching blank-staring models displaying sparkly bracelets and Christmas decorations. But the real frontrunners in the resurgence of home shopping are in China. The industry is already valued at $137 billion, utilizing today’s tech and home-shopping essentials like clever hosts and flash sales.
The Gen Z Effect
Gen Z is starting to earn disposable income as the generation hits its mid-twenties (the members in the cohort are between 10 and 25 years old), contributing to their $360 billion spending power. For these kids who have grown up trusting their Youtube creators and TikTok stars like the cool older siblings they wish they had, reaching them by authentic, relatable sellers makes all the difference. The new home shopping is a mix of influencer sponcon, social media and a dash of QVC.
Shopatainment
Whatnot is a leader in this space. The company has created a marketplace where anyone can become a seller, promote a launch, and livestream his or her inventory of vintage tees, playing cards, or NFTs. Bambuser was an innovator in the category and has been the brand choice for live shopping events. The Stockholm-based company went public in 2017.
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May 10, 2023
(Photo courtesy of Allbirds)
Welcome to a new week. Following a week that saw the financial spotlight shift to the banking crisis and the Federal Reserve, the latest data on inflation will put the focus back on consumer goods and spending this week. On the earnings calendar, a host of CPG and digitally native brands alike are set to report results for the latest quarter, offering a snapshot of consumer health and execution strategies that are working now.
Events
Accelerate23: The Global Ecommerce Acceleration Summit from Pattern features speakers including Honest Company Founder Jessica Alba, Olympic Champion Michael Phelps, TikTok US Ecommerce head Sandie Hawkins and Supergoop CEO Amanda Baldwin. (May 10-11, Salt Lake City)
Economic indicators
Consumer Price Index: The U.S. Bureau of Labor Statistics provides data on inflation across a broad swath of the economy for April 2023. In March, inflation eased to 5% as the Federal Reserve's interest rate hikes took hold across the economy. (Wednesday, May 10, 8:30 a.m.)
Producer Price Index: The U.S. Bureau of Labor Statistics provides data on prices paid to manufacturers for goods before they reach retail. Known as the wholesale inflation index, the PPI is seen as a forward-looking measure of inflation. (Thursday, May 11, 8:30 a.m.)
Consumer Sentiment: The University of Michigan offers a preliminary reading on consumer buying conditions and inflation expectations for May 2023. Though this metric remains above last year's doldrums, it was basically unchanged in April. (Friday, May 12, 10 a.m.)
Earnings
Monday, May 8: PayPal, Uber
Tuesday, May 9: Allbirds, Coty, Honest Company, Hostess, Under Armour, Warby Parker
Wednesday, May 10: Wolverine WorldWide
Thursday, May 11: Tapestry, Utz, Yeti
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