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Thesis: Lord & Taylor Launches Design Lab
- 2. Agenda o Lord & Taylor o Industry Trends o The Challenge o The Solution – Design Lab o Launch Campaign o Results o The Possible Disconnect o Moving Forward
- 4. A Brand of Many Firsts "A Few of Our Favorite Things” November 12th 2015
- 7. Digital Purchase Behavior “The Surprising Facts about Who Shops Online and on Mobile.” N.p., n.d. Web. 11 Nov. 2015. Think With Google. “The Customer Journey to Online Purchase.” GoogleTool. Think With Google. N.p., n.d. Web. 198 Million, i.e. 78%, U.S. consumers made a purchase online, in the 1st Qtr. of 2014. How marketing channels, for Large businesses in the Shopping industry in The U.S., influence the purchase decision
- 8. These Millennials… “They [Millennials] either buy something expensive, or they buy Zara – because it’s a similar sweater. Zara has replaced the need to spend $600 on a Theory Lauren Sherman Style and Fashion Writer Lauren Sherman. Interview with Style and Fashion Writer, Gotham Magazine. Lord and Taylor and its Debut of Design Lab 28 Nov. 2015. Phone.
- 9. Music Festivals & Fast Fashion Code & Theory – Proprietary Analytics and Data Mining Database. Instagram API. N.p., 2015. Web.
- 10. Millennials Luxury Online Ortved, John. “Is Digital Killing the Luxury Brand?” AdWeek. N.p., n.d. Web. 30 Nov. 2015.
- 11. The Challenge
- 12. Who’s Shopping at Lord & Taylor? not Millennials 0% 10% 20% 30% 40% 50% 18-24* 25-34* 35-44 45-54 55-64 65+ Lord & Taylor’s Shoppers by Age (%) *Low Sample Sizes MRI+. Lord & Taylor In Last 3 Months: Any. MRI+, 2014. Web. Department, Clothing/Shoes & Specialty Stores - Times Shopped.
- 13. L&T’s Social Engagement Pre-Design Lab Crimson Hexagon. Lord & Taylor - Social Listen January 2013-January 2015 (Before Design Lab). Crimson Hexagon, 2015. Web. Posts 20K 15K 10K 5K 0 17 & Below 18-24 25-34 35+ Content Sources 289,523 Posts
- 14. What’s In A Name? Ariel Weksler Brand Director “A contemporary line already existed in stores… we just couldn’t market it… because it was under 60 different labels.” Ariel Weksler. Interview with Design Lab Brand Director. The Design Lab Brand. 2 Nov. 2015. Phone.
- 17. Launch Strategy
- 21. Results
- 22. Post Launch Conversation Trends Topic Wheel Word Cloud Crimson Hexagon. After Design Lab - Social Listening - April 1st 2015 - October 1st 2015. Crimson Hexagon, 2015. Web.
- 23. Social Media Engagement 0 5 10 15 20 25 Year 2014 Avg. Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Average No. of Twitter Interactions/Month …Maybe a D? *Interaction = (Retweets+Favorites+Replies)/Broadcast Tweet Code & Theory – Proprietary Analytics and Data Mining Database. Twitter API. N.p., 2015. Web.
- 25. Millennials – “Over 60% of Millennials viewed content positively when it was customized to their personal interests, was thought- provoking, and useful in helping them navigate their daily lives.” “Only Meaningful Content Will Drive Brand Loyalty Among Millennials | Loyalty360.org.” N.p., n.d. Web. 7 Dec. 2015. They’re Just Looking for Meaning
- 26. Moving Forward
- 27. Moving Forward – “One of the values of this line is to be socially compliant… We are also looking to develop that ‘Made in America’ feel in the future… And an exclusive high-end designer collaboration.”Ariel Weksler Design Lab Brand Director Be Social-ly Conscious
- 28. Being Socially Conscious …Is Cool Nielsen. “Global Consumers Are Willing To Put Their Money Where Their Heart Is When It Comes To Goods And Services From Companies Committed To Social Responsibility.” N.P., 7 June 2014. Web. “Millennials represent 51% of those who will pay extra for sustainable products, and who check the packaging for sustainable labeling.”
- 29. Scarcity & Exclusivity Kelly Meyers Sr. Strategist “Fast fashion is much more than the production side of things. There is also a volume play here that creates the scarcity... If I don’t buy these now they will be gone in a week!”
- 30. Collaboration with SVILU “7 Eco-Friendly Fashion Labels to Know Now.” ELLE. N.p., n.d. Web. 7 Dec. 2015. For those who tend toward a more relaxed, bohemian vibe, SVILU’s comfortable silhouettes, romantic colors, and pretty little details will likely call your name.
- 31. Shift Perception Social Sentiment & Engagement Increase Footfall Number of Visitors Increase Visitors to the Site Number of Retained/Retargete d Users Spend/Visitor Boost Sales & Reclaim Market Share Sales/Sq. Footage Revenue Objectives KPI’s
- 32. Tactics
- 33. Launches Anushka Kassim December 9th 2015
Hinweis der Redaktion
- L&T is a brand that has not changed its brand image in almost 200 years, in fact this logo is actually their original logo.
- Founded in 1826, L&T is the nation’s oldest department store chain and it operates 51 stores in 10 US states. Not only was it the first retailer with a flagship store on Fifth Avenue The first to offer personal shopping services The first to create holiday window displays purely to bolster the Christmas spirit, and not just Christmas sales The first department store to have a female president, Dorothy Shaver in 1945.
- Lord & Taylor was founded on the behaviors and preferences of young women, and their tonality in messaging does reflect that. L&T positioned itself as “The Ultimate Dress” store, this was a sentiment echoed by Lauren Sherman, Fashion and Style writer at Gotham. In the earlier years L&T’s messaging reflected the functional benefits of an item, such as in this ad from 1974. The 1970’s ad uses language such as “Near-collector’s items of semi-precious and simulated stones, set in 14 karat gold.” In the 1990’s and early 2000’s L&T began to shift away from function, and into the emotional benefit that it provides its customers, which has to do with being able to trust a long-standing brand and living an influential lifestyle.
- However, as E-Commerce continues to grow, brands now need to do a lot more to entice their consumers.
- It is no secret that much of the consumer purchase journey has gone digital, and it is predicted that E-Commerce will outdo Brick-and-Mortar sales by 2019. Furthermore, according to Mintel, 61% of adults agree with the statement: “The first place I look for information is online.” This behavior is most rampant with Millennials, and the following is an example of this online consumer journey is online, it is important to understand the key influences in this purchase decision. According to Think With Google, this journey begins with social media and display ads, then comes paid and organic search, referrals and outbound marketing initiatives such as emails, until the journey finally comes to an end with, hopefully, a favorable purchase decision.
- However, it isn’t just digital that is influencing the way that Millennials engage with brands As is apparent by this quote, it is also their insatiable appetite for on-trend clothing that influencers them… and what’s more on-trend than music festivals.
- Music Festivals influence fast fashion. Fast Fashion can be defined as retailers participating in efficient supply chains in order to produce garments cheaply, but still be reminiscent of current catwalk looks. Neiman Marcus and Barney’s New York have taken this opportunity to strategically partner and showcase their bohemian style.
- Which brings us to the disconnect between luxury brands, like L&T, Neiman Marcus and Barney’s, and the digital savvy Millennial. In this article John Orvted speaks to the inverse correlation of digital and luxury brands. He writes that as digital spaces become more accessible, luxury brands begin diminishing. Simply, because the two work on different models, the internet is about attaining an even playing field, whereas luxury brands are luxury because they can only be attained by a select few.
- L&T had a lot not going for them.
- According to L&T, it was founded on the shopping habits of the “Miss” section, which quintessentially means that it was geared towards females aged 18-34, i.e. today’s Millennials. But currently, it was not connecting with them. Within the Millennial age group, the 25-34 segment shopped least at L&T.
- I conducted a social listening exercise and scoured through almost 300,000 posts from January 1st 2013 through January 1st 2015, collated from all types of social media platforms. And what I was able to uncover was that even online, the age group that usually is most active online (18-34), engaged with the brand the least even though there were product offerings for them in stores and online.
- The new umbrella brand consists body conscious clothing such as crop-tops, as well as more conservative clothing such as billowy skirts. According to Weksler, “Design Lab is 70% Taylor Swift, and 30% Ariana Grande. Taylor Swift… feminine, and Ariana Grande is edgier.
- Now, I’ll walk you through L&T’s launch strategy for Design Lab
- Meet Jessica, a recent graduate from The New School, and a Content Strategist at droga5. During her own downtime she is usually making and following playlists on Spotify, or casually scrolling through her Instagram looking for fashion inspiration. She likes pairing Anthropolgie’s hippie-chic style, with TopShop’s straight edged cuts for a fashion forward look.
- To reach Millennials, L&T strategically adopted a lighter tonality in messaging for the Design Lab campaign. Design Lab uses a whimsical diction; “free spirits” and “dream big fashion lovers.” This is also the only vertical that touts that the featured collection was featured in Vogue magazine; which could be perceived as a nod to the target audience’s desire to be in-the-know and fashion forward. The strategy was also based in native advertising in the sense that it strived to serve up content not only in a fresh and meaningful way, but also attempted to make it part of the user’s experience. There was also an influencer fueled strategy is play here. These influencers were from the fashion and music realms, which is true to the line’s feel.
- L&T launched Design Lab through the entire month of March 2015. The first main tactic that was implemented was a tweet that redirected consumers to a branded Spotify playlist. A branded Spotify playlist is one that is contains at least 40 songs, all by unique artists, and contains some form of branded content – which in this case are the logos and picture. The playlist featured artist Ella Henderson. The second main tactic was a launch party featuring fashion influencers and musical artist Bea Miller. L&T posted an open invite on multiple social media platforms to the event. And the third tactic, which was perhaps the most successful, was an influencer led instagram tactic. Where 50 influencers wore the same dress, it generated a lot of buzz and the dress sold out!
- So, how did Design Lab do really…
- Although, the campaign’s communications’ strategy implemented two impressive tactics: an Instagram fashion influencer program, both failed to gain or retain engagement. Even though, L&T was able to raise some brand awareness for Design Lab, it was unable to truly become a contributor to the larger fashion conversation that was taking place online. Having said that, it is too soon to gauge a definitive change in consumer perception or behavior.
- In 2014 L&T averaged a total number of 9 interactions. In January 2015 this number grew by155%; even though there were dips in February and March of 2015 L&T was able to increase its average number of total interactions on Twitter to 20 until it began to taper off drastically soon after.
- Although, L&T’s Design Lab’s launch campaign seemed to be playing all the right instruments, it wasn’t hitting all the right notes.
- And by that I mean it didn’t really serve up too much meaningful content.
- So, moving forward I suggest that L&T highlight other characteristics of the line, other than music.
- According to Weksler…
- This socially conscious vibe is pretty strong within the Millennial market.
- Two other drivers that are present within those Millennials who like fast fashion are scarcity and exclusivity. As Kelly Meyers put it…
- With taking all this into consideration, I suggest that Design Lab partner with SVILU. SVILU, besides having a mouthful of a name, is a socially conscious brand that carries similar styles to L&T’s Design Lab.
- The collaboration could be launched with the following objectives and KPI’s in mind.
- Finally, the collaboration’s launch could come to life with various tactics. With a strategy that is rooted in scarcity and exclusivity, with an aim to keep the collaboration a secret until it hits E-Commerce. Shailene Woodley is a well known actress, who is known to be socially conscious. She could be a great brand ambassador. I suggest, that similar to the initial launch, Design Lab should once again partner with influencer. However, instead of following the launch with these tactics I believe that Woodley and influencers could leak images of the clothes and not disclose the collaboration. This could lead to magazines such as Glamour and InStyle covering the story online, I chose not to partner with Vogue as it can seem a bit unattainable at times and these titles are more relatable to Millennials Finally, the launch could go live online, playing on the Gilt Groupe effect. Which is that consumers would have to wait until a certain day and time to buy garments from the collaboration. Hopefully, this will lead to a stronger brand perception of Design Lab and L&T amongst Millennials.