Burberry have their digital marketing sussed. At 4pm yesterday their SS12 show was streamed live from Hyde Park via their website, simultaneously tweeting the looks on models queueing backstage seconds before stepping out. Immediately after the show 47 of the products just shown were available for instant purchase, with delivery in 8 weeks. For anyone who’s been watching Burberry, you will know this is a fait accompli for them and we know that this is the direction the greater industry is headed. How great to be Burberry right now! And if you’re not Burberry, sit up and listen.
Last month digital think tank L2, released their latest Digital IQ Index looking at specialty retail. Their thesis is that shareholder value is linked to the digital competence of a retailer, the report investigates the increased importance of mobile and social platforms.
According to L2, over 97% of consumers report that social media affects at least some of their purchasing decisions and 79% of smartphone owners use their device whilst shopping. Retailers who have been swift to adopt a complete social media strategy, post user reviews, embed product videos and optimise their sites for mobiles have found that users spend more time on their sites and visit more frequently. Conversely perhaps, Michael Lazerow, CEO of Buddy Media, outlines that it’s not sheer numbers of Twitter followers or Facebook fans which convert into retail success. He suggests it is social sharing of products which is driving commerce.
The highstreet has embraced social sharing, which feeds into our EDITD Twenty. ASOS feature heavily in the chart, a clear indicator that they’re digitally forward-thinking; the top ranking garment has over 3000 online shares – no mean feat! Boohoo, who have 14 times fewer fans and followers than ASOS (85,843 in contrast to ASOS’s 1,230,340) often feature in the chart, with one of their dresses currently at number 5. It turns out that social is really important; and with the democratisation of fashion upon us, we can only see this becoming increasingly so.