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When you start to think about department stores or the Nike store, then self-checkout becomes a whole different equation that is very hard to fulfill, especially when there are security tags. So it's also important as a retailer to think about what you're selling, to decide what are the right options, right? Marcus Johnson:.

We report that more new brands are tapping into the resale market, brands like Nike, Lululemon, Home Depot and Ikea, they've all tapped into their own resale market, and that the strategy of launching resale divisions internally is a good way to attract young customers and forge customer loyalty by keeping those products within the brand's ecosystem.

Because there are situations where you're just kind of dragged into it and you don't want to be, there are situations where, to Ethan's point, you purposefully charge into it with the flag in hand, and [inaudible 00:07:27], associate professor of marketing at Babson College, was noting the audience, your audience as a brand, as a company, can sometimes or often dictate your involvement level, pointing to Nike

I think what the nut to crack would be like, how do you get to a point where you can position your brand so that can happen because marketers trying to intentionally create community, it's going to seem inherently inauthentic and we've seen experiments like that happen in the past and it does not create a community around a brand in a way that Nike, for example, has in the sneakerhead community or other

Join the thousands of subscribers from companies like Walmart, Herm猫s, Alibaba, Nike, the Coca-Cola Company, Amazon, and more benefiting from our daily insights. Visit insiderintelligence.com/retail-daily and sign up today. Evelyn Mitchell-Wolf:.

Amazon doesn't have a loyalty problem, Apple doesn't, Nike doesn't. The good brands that do everything right and they're constantly evolving to meet the customers are doing just fine. So yes, I think that there's a heightened awareness among consumers and there's more competition than ever, but that's been the case for a long time. Marcus Johnson:. Very nice, folks.

I think of Nike actually as one brand that does a good job. What do they do? High level of personalization, loyalty programs, and just easier filtering to see products and sizes, and what's sold out and what isn't. There's a ton that can be done and I think many need to focus their energy on that. Marcus Johnson:. Suzy. Suzy Davidkhanian:.

Some brands, like Gucci and Nike, have either partnered with or created virtual influencers. Brands that start experimenting with those initiatives now will be ahead of the game by 2024. 鈥擩asmine Enberg. Messaging. After years of providing mostly free messaging tools to consumers and businesses, Meta is now taking bold steps to better monetize WhatsApp, Messenger, and Instagram direct messages (DMs).

Q1 has been a mixed bag for marketers. Ad spend grew in January and February, hitting double digits for the first time since March 2022. But many tech and retail companies were hit with layoffs as companies tightened ad spend. IBM, TikTok, and Google all slashed their marketing and advertising teams. On earnings calls, Nike鈥檚 finance chief said the company is planning for a 鈥渟ubdued macro outlook鈥� and Paramount mentioned 鈥渟oftness in the global advertising market.鈥�