ClickZ Luxury Footwear Newsletter - 11.14.2024

Plus: Golden Goose shines in DTC sales

Author

Sophie Bruxner-Randall
November 14, 2024 • Estimated Reading Time: 7 minutes

Leading Voices 📣

With the election now behind us, the whopping 44% of consumers who reported delaying purchases pre-election may finally be ready to open their wallets. 

Black Friday and Cyber Monday could be bigger than ever as shoppers prepare to make these ‘revenge purchases.’ This is a prime opportunity for brands to capture pent-up demand.

In this article, Jamie Bolton shares 3 tips to make the most of this opportunity:

📉 Integrate Lower-Competition Channels: Platforms like Snapchat have less competition and lower CPMs, offering low-hanging conversion opportunities.

🎯 Consider TikTok for Efficiency: Last year, TikTok saw the biggest month-over-month jump in ROAS in November, making it a highly efficient tool for BFCM success.

⏳ Strategically Time Ad Spend: 2023 data shows strong results from increasing spend at the start of Black Friday week, but the best approach depends on your budget and goals. (Get a full guide to three timing strategies in Fospha’s BFCM report).

For a closer look at the data behind Jamie’s top tips for BFCM 2024, check out the full article.

Luke Jonas on LinkedIn: Going global in 2025

Although Black Friday is just around the corner, savvy brands have half their mind on next year.

With economic challenges in the UK, and a growing opportunity in the US/EU, many retailers are asking: how can we mitigate the risk of our home market?

Niche Nuggets 🔎

Robert Barakett, a Montreal-based menswear brand, is expanding into footwear for fall 2025. The collection, crafted in Italy, features sneakers, loafers, and boots in premium materials. Led by Eric Edmonds, the new line aims to enhance the brand's lifestyle appeal, maintaining its signature sophistication and attention to detail.

Golden Goose, a luxury Italian sneaker brand, reported a 12% sales increase to 466 million for the first nine months of the year. This growth is largely driven by an 18% rise in direct-to-consumer (DTC) sales, with a notable 37% increase in the EMEA region. Retail openings and digital channel performance contributed significantly, despite a 4% decline in wholesale revenues.

The EMEA region accounted for 49% of revenues, with the Americas at 38% and APAC at 13%. CEO Silvio Campara highlighted the brand's commitment to innovation and community engagement, with new store openings worldwide, including Haus in Mexico City. Despite market volatility, Golden Goose postponed its IPO, focusing on enhancing customer experiences and sustaining growth.

Santoni evolved from a small shoe manufacturer to a luxury brand by embracing innovation and sustainability. The company expanded its product line, invested in artisan training, and focused on direct-to-consumer sales. Santoni's commitment to quality and craftsmanship is evident in its bespoke offerings and eco-friendly practices, ensuring future growth.

Hugo has teamed up with Till Jagla's Flowers for Society to launch the Hugo x FFS Go-2 sneakers. This exciting collaboration debuted at PFW Men's and was officially launched at Frankfurt's 43einhalb store. The sneakers are a creative blend of art, attitude, and innovation, featuring a running shoe design with a hiking-inspired tread sole and a revamped red Hugo logo.

To celebrate, a floral-themed event transformed the store into an immersive pop-up. Guests enjoyed exclusive rewards with their purchases, including tote bags, limited edition T-shirts, and bouquets. This launch not only highlights the dynamic nature of fashion collaborations but also offers you a glimpse into the innovative spirit driving the industry forward.

Performance Pulse 📈

The latest benchmarking data from full-funnel marketing measurement provider Fospha reveals that Meta and Performance Max still dominate as the highest-spend channels for fashion brands, holding an average of 35% and 30% of budget respectively. This is a testament to the channels’ ability to support both brand-building and conversion activities at scale, both key components for sustained growth. 

Pinterest, making up an average of 1% of fashion brands’ budgets, delivered the highest ROAS across all channels in Q3. Higher revenue efficiency is not rare for smaller channels – but Pinterest’s ability to outperform other lower-spend platforms likely reflects its unique suitability for fashion marketing. Widely used as a hub for discovering and curating style inspiration, fashion advertising can easily be made to feel native to the platform experience. With Pinterest ad spend up 51% year-over-year across all industries, it seems more brands than ever are eager to tap into the platform’s growth potential and unique advantages.

Instagram's chief, Adam Mosseri, clarifies a common myth: Instagram does not reduce the reach of posts tagged as sponsored content. This myth suggests that Instagram downranks these posts to push brands to pay for more reach. However, Mosseri emphasizes that marking content as sponsored is crucial for compliance with global laws, and Instagram does not penalize these posts.

The perceived reach penalty might stem from user behavior, as some users engage less with sponsored content. Mosseri's series of informational posts aims to debunk such myths, providing direct insights from Instagram. While skepticism remains due to Meta's past reputation, Mosseri's explanations offer valuable clarity for those navigating the platform's dynamics.

Marketers should focus on creating emotionally resonant holiday campaigns that align with consumer behaviors. By prioritizing engagement and building brand loyalty, they can navigate the shortened holiday season effectively. Continuous engagement and innovative strategies, rather than early promotions, are key to long-term success and consumer connection.

ClickZ is a Contentive publication in the DTC Ecommerce division