Retail Diary - Week of January 29, 2024

This Week's Topics:  

  • Fashion + Retail + AI

  • Luxe News

  • Watch this

  • Sports but make it Fashion

  • New Collabs, Launches, Corporate Moves, Stores & News

  • What else I ❤️️ 

Fashion + Retail + AI

There is certainly a hot debate around AI. My favorite quote can be summarized as “AI isn’t going to take your job, but someone who knows how to use AI will.” I love it for the ability it has to unlock mundane tasks and make them simpilier (much like spell check for me personally) but also opportunities to improve many ecommerce features. Lily AI is one example. As I am interested in this topic and trying to learn as much as I can, here are a few articles and pieces I’ve discovered.

Luxe News

  • Tamison O’Connor wrote a Case Study for Business of Fashion on how Luxury Brands are selling to the top 1%. The multiple splitting of how customer journeys happen is so interesting to me. For example, there is a customer shopping Bergdorf Goodman, Chanel, Net-A-Porter etc but one is going to splurge on a lipstick and fragrance and another is purchasing a cashmere coat for over $5K and not even looking at the price before purchasing. A quote from this article “The top 2 percent of luxury customers drive 40 percent of luxury sales, according to Bain.”

  • I really enjoyed reading this Glossy article by Jill Manoff about new leather handbag line Métier and how they are building their business. “Leaving breadcrumbs” can be interpreted as showing up multiple times in front of the consumer/shopper they are going after. It can also mean leaving a digital footprint to keep bringing her/him/they back to their site or store. They are also focusing on being warm and inviting vs what luxury fashion boutiques are often considered.

Watch This

Images via the sources above and all tagged.

Sports but make it Fashion

New Collabs, Launches, Corporate Moves, Stores & News

What else I ❤️️ 

  • Loving Substack because it brings me back to the early days of Daily Candy and Who What Wear with discovery and styling curation. Do you remember the jolt of excitement when the Daily Candy email popped up? What new discovery would you find? And the WWW newsletters that had the cute collages around how to wear a little leather jacket? So many of the amazing Substacks remind me of this.

  • J.Crew launched a new kick flare a la high sport in multiple colors and length options.

  • I enjoyed this podcast episode from The Skimm with Fern Mallis (founder of NYFW and former Executive Director of the CFDA.) I appreciated her comment that she knew it was time to leave the CFDA role when the conversations were more about EBITDA and less about how to support creativity and designers. That push and pull in fashion between business and design.

  • I can’t stop watching Tariro Makoni on instagram. I could listen to her for hours. She is my favorite instagram follow of late.

  • Obsessed with this beaded jewelry article from the NYTimes written by Libby Banks. Love the styles and the brands featured! Talk about dopamine dressing and the beading as a relaxing, personalized and hand craft moment.

All jewelry labeled and images via sites linked above.

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What's Next?

We’ve got Marc Jacobs’ show on Friday 2/2 and NYFW starts at the end of next week. More Super Bowl shopping since that is coming up on the calendar (and Taylor Swift is back on tour!) Valentine’s is typically a short shopping holiday so we’ll see a burst of that towards the end of next week. Likely why we are also seeing so many fabulous jewelry articles (I’m not mad at it.)

Also, I’m working on my Retail Math 101 newsletter - if you have any questions or want me to focus on anything in particular, add to the comments here or email me sarahshapiro@substack.com. I love hearing from y’all - thank you for all the comments and notes!

Thanks for reading Deep Dive Edition 150

Sarah Shapiro