# The next normal: Consumer shopping trends for 2021

## Метаданные

- **Канал:** Vogue Business
- **YouTube:** https://www.youtube.com/watch?v=lSjAhAqMrs4
- **Дата:** 25.06.2021
- **Длительность:** 44:51
- **Просмотры:** 732

## Содержание

### [0:00](https://www.youtube.com/watch?v=lSjAhAqMrs4) Introduction

welcome everyone and thanks for joining our webinar on the next normal consumer shopping trends for 2021. i want to let you know that there will be a q a at the end of the session so please send your questions by the q a function throughout the webinar and we'll do our best to answer as many as we can lastly a recording will also be made available on demand following the event all right let's get to it we're very fortunate to have two experts join us today klarna's chief marketing officer david sandstrom who has been instrumental in leading the company's transformation from a fintech firm to become a lifestyle brand since joining in 2017. today he's responsible for everything related to design pr communication and brand we also have mr porter's global marketing director savannah who has overseen the luxury retailers marketing strategy since 2013 taking it from a startup to become a leading men's online star destination globally sabo oversees all elements of marketing and champions mr porter's brand and customer experience and i'm katy chitracorn and i cover the retail and marketing beats for work business welcome both thank you so much for

### [1:14](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=74s) Agenda

coming here thanks for having us it's great to have you both and today we'll explore how the pandemic has affected consumer behavior mood and spending patterns and we'll also discuss how brands and retailers can position themselves to support consumers throughout this insurance period as well as look forward to where demand will shift so david i wanted to start with you because um has been built on the concept of giving consumers a way to buy things online without having to pay for them up front i'm curious to hear what impact

### [1:50](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=110s) Impact of the pandemic

the pandemic had on kleiner's business and also you know what were the big changes in consumer purchase behavior that emerged so a lot of things have happened in the last 18 months obviously um the obvious answer is that we've seen an accelerated um digitalization of everything of businesses of our partners and merchants which essentially has mean to a large extent an unparalleled transfer of gmv many retailers and brands have been forced to offset the loss in gmp that they've had in store with um with their e-commerce business and um some of our partners have been equipped to do that and for many of them and has been a shock so for us as a business i mean we have seen tremendous growth um in this age of digitalization um we were on a good trajectory before but i mean what we've seen in the last couple or in the last years in the last 18 months has been astonishing on that end what we've also seen is that many of our partners weren't really ready for the um you know increased focus on consumer experience and taking their e-commerce business from being a purely transactional platform into becoming something more where consumers demand more where they want more experiences more content more inspiration more discovery more fashion basically and that is an area in the space that we've moved into very quickly as well and then finally i want to call out that what we've also seen which is interesting is that many new segments or many new target audiences have been introduced to e-commerce and online shopping and so the biggest growth for us has been in in the segment 55 plus um my mom for example has been forced to buy groceries online she wouldn't have done that pre-pandemic but now she is a fan of online grocery shopping so i mean a lot of things have happened um a lot of bad things have happened during the pandemic but also there are a couple of really interesting and good things that have come out of this

### [3:58](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=238s) Impact of the pandemic on Mr Porter

and certainly you know physical retail was hit hard over the past year stores were forced to close as you touched on david most people were you know forced to shift online and mr porsche has the advantage of being an online retailer so i'm really interested to hear what impact the pandemic had on mr porsche and you know what kind of shift these solar consumers spend absolutely and i think there's a lot of shared themes with what david just mentioned so while the majority of shoppers reported a reduced spend on luxury and designer fashion in 2020 um a real opportunity emerged for online retailers to capture the remaining spend and i think we also saw bricks and mortar stores even when they reopened losing appeal and so as a as an e-commerce business mr porter was really well positioned to really capitalize on that demand and then um i think there were quite a few um notable shifts across our business uh as a result of the pandemic but i'll focus uh really on two i think the first was that we saw an explosion of new customers and this was consistent across all our markets and so as david mentioned the pandemic really accelerated that online shopping and shifting customer behavior and if you weren't already online you evolved into an online shopper this year but what was really interesting for me and what's been really fascinating is seeing that there's been this disproportionate growth in categories like luxury watches where historically e-commerce adoption has been slower and actually for mr porter this is a category where we're seeing hyper growth right now and we're planning to capitalize this and and expand our fine jewelry proposition too i think you know the second impact of note for us uh was that we saw an increased editorial uh engagement and you know our purpose at mr porter has always been to encourage our audiences to explore stylish and more fulfilling ways of living and we really see ourselves um much more than an e-commerce platform our content really has been at the heart about service proposition and so during covid um we really saw how important that was uh we wanted to be there for our audiences customers we wanted to support them during incredibly um difficult times and i think to david's point it was also about being really sensitive to the context so we had um the opportunity at the very onset of the pandemic to lean into our men's mental health and content and fundraising initiative which is called uh mr porter health in mind this was actually um it was launched back in 2019 and the aspiration back then was to raise the conversation around men's mental health and physical uh well-being and we've done loads of initiatives over the past couple of years everything from launching our own book the mr porter guide to a better day to launching some incredible uh capsules um actually there's one just uh that's recently launched this week and you know during um during the covid lockdown um we really pivoted our digital content strategy uh to amplify our healthy mind messaging there was lots of activity from an at-home editorial and social series and you know this was all about us um you know thinking about being there for our audiences and providing a service uh whether it was kind of entertaining or advising or just generally supporting them through the crisis so we were um quite uniquely placed in that respect in terms of uh being able to leverage uh leverage our content as well as our commerce proposition

### [8:00](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=480s) Revenge shopping

thank you server lots to unpack there that we'll definitely come back to and discuss some more but one thing i wanted to discuss with you both is um there's been a lot of discussion around revenge shopping and a term that's used to refer to you know shopping extravagantly to overcome frustration um if you look it up in a collins dictionary they compare it to getting a chance to party after not being able to for many months but i'm curious to hear from you both you know to what extent is this really happening and can this sport in spending really can it really be expected and post a lockdown period i personally wouldn't call it revenge shopping i think um we've seen two very different mindsets emerge quite strongly on mr porter and the first is really about customers shifting their priorities and you know they're looking much more for investment pieces that they can keep for the long term and actually we've done some of our own internal research and we've seen actually it's up to 80 of our customers have become more interested in timeless pieces that they can wear for many seasons to come versus you know just fashion kind of trend driven pieces and i think this really speaks to that new mindset of people wanting to seek greater value for their money but also this stronger appreciation of um of craftsmanship and also an increased focus on sustainable purchases and choosing retailers who are positively kind of contributing to society i think the second mindset is you know despite that very sensible investment approach uh throughout the pandemic we've also seen um this desire for escapism i think we can all uh empathize here and actually on mr porter the number one reason to visit our site um uh was uh the desire to tweet myself and we've um we've seen that since the end of lockdown pretty much everywhere in the world what's been quite interesting is we've been observing customers buying higher priced items and they're treating themselves they're going out again and there's a real genuine excitement to dress up we had um two exclusive capsule collections from therese van noten and tom ford both collections were super inspired by escapism and travel and they were very bright positive and colorful and i think you know that they've done incredibly well and i think that's the consumer mindset right now everyone's uh you know everyone's got that appetite for dressing in special and intentional ways and there's that hunger for vibrancy

### [10:42](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=642s) Clarks insights

i mean we're we've seen the same thing and what makes it really interesting to work at clark is i mean we have unique insight into 90 million consumers spending behavior and purchases right across retailers across brands across segments so looking at the data we found just so interesting data points throughout the pandemic where it started out with a high degree of uncertainty people buying a lot of essentials i don't even know if you remember but people actually thought that toilet paper would run out we saw that in the purchase behavior after a while we increasingly saw that people got bored they got bored with lockdown a vast majority so we saw a surge in computer games and board games and things like that that then now transformed into people getting settled in a lot of loungewear a lot of fitness things a lot of skin care was sold i think what we're seeing now that the fourth phase we're moving into is not so much about revenge but as sabo said like it's about treating yourself we see luxury surging we see travel coming back we see people wanting to get entertained getting out there getting dressed up so we've seen these phases throughout our data and i don't think it's so much about revenge i think it's about you know happiness spread like the feeling of spring again just coming out being with friends being entertained and getting a chance to getting dressed up so revenge is a very i think it's the wrong word yeah that

### [12:12](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=732s) Consumer purchases

makes sense but one thing for sure is that you know 2021 will be a year transition for brands you know over the past year the lines between home and office have blurred he was home stubborn as an office a classroom and a gym and every everything else and we also know that 70 consumers said that they plan to dress more casually when they return to work and other activities data that's come from npd um i'm curious to know what are you seeing supporter in terms of consumer purchases what are shoppers investing in you talked about these investment pieces yeah i mean it's interesting that you mentioned people wanting to dress more casually um we're seeing our casual wear and contemporary departments uh really booming and we know from our research that formal styles are unlikely to regain appetite in the short term actually it's as high as um one in two customers saying that they have no intention to purchase formal workwear this year whereas uh by contrast there is this real demand to buy casual workwear um but it's interesting because there are some nuances so for example if you look at tailoring um we have seen an increase in sales however it's much more relaxed so customers very much adopting for um deconstructed online suits they're moving away from the classic suit and i think this is definitely reflecting that trend to more casual dress um but as i mentioned we are seeing customers purchase timeless investment pieces and that's kind of reinforced by the growth we've seen with luxury watches but also um we have our own label mr p and that launched back in 2017 it's now um rocketed to become one of our top 10 brands and this is a brand that is very modern casual it's a casual contemporary line and it's our basic view of like an expert edit of elevated high quality wardrobe essentials and future classics but it's all very wearable and it's done incredibly well in this new context because our customers are looking for that high quality uh product that is built to last uh and um and uh is as i said um kind of more wearable you can dress it up down so we anticipate our own label mr p is really gonna continue to grow from strength to strength

### [14:45](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=885s) Customer relocations

and another shift that we saw over the past year was that you know several customers relocated and i wonder if that's something you also saw with your customer base in some areas of the world and how do you adjust your content or your offering to reach these audiences yeah i think this is definitely a trend we all experienced i think we even experienced ourselves lots of people moving from the big cities into the home counties and if you're lucky enough to move to the countryside and so um you know we saw some interesting uh trends on mr porter so for example we noticed many of our customers relocating outside of new york city to locations like uh long island new jersey and as actually we saw our florida business and our california business to do really well and um you know in response to this uh this trend uh we expanded um some of our um what used to be a seasonal service offering in the hamptons to a year-round uh proposition uh because we saw that a lot of people were remaining in in the hamptons so this was uh this was one element we also expanded our premier service um to um a lot more um places so um it was i think an additional 50 zip codes across six major counties uh in in the us and you know this was all about you know being there with our customers um you know giving them that service where they were but i think you know generally speaking as a as an online business we're also in a very fortunate position that we really can be wherever our customers are absolutely

### [16:28](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=988s) Digital payments

and david i would love to come back to you because um you know as we were saying everyone's going online so omnichannel has become increasingly important and businesses are have been forced to become more competitive what were the biggest changes that you saw in the digital's payment space i think i would like to call out like the merge of um entertainment content curation and the actual purchase i think historically we've seen all of these things when you look at discovery you know price comparison and the actual purchase all of those things and reviews they have happened on separate platforms and on separate sites i think what we've seen and what we're going to see in an accelerated manner going forward is the merge of entertainment and shopping and especially if we look to the east what is happening in china and there it's obviously on a completely different level than what we've seen but a lot of our partners have moved into the space of you call it live shopping or shopping entertainment whatever you want to call it but that kind of content where you connect on a different level again i think um e-commerce traditionally has been if we're fairly boring i think the content created around the fashion is interesting but the e-commerce platforms are fairly boring i mean it's a picture of a garment pair of sneakers and then you pay for those sneakers and you get them sent home there's no you know social aspect of it that there is no um entertainment value there's no going in depth there's no storytelling i think what mr paul has done and this is gonna say fantastic it is fantastic but it's still i would argue that it's still only just the beginning that what what is going to be added in terms of entertainment the fomo aspect the ability to talk to your peers that have the same you know sweater or something like that the that is a space that is still unexplored i think you're way ahead of your peers when it comes to content creation and storytelling and everything you do around that but there are still levels to be had here in my opinion i absolutely agree but are you also seeing significant differences in generations and cohorts and how they respond to these different trends yeah obviously i mean there is a before and after tick tock at least in our world if we're being honest when it comes to that and the um for us if i take one step back and look at our core business um it is very much about trust and what we're seeing and the same thing goes for fashion it doesn't only go for payment companies and banks for fashion is a lot about trust and a lot about you know um that says who has the clout within fashion right and what we've seen especially what differs between maybe not generations but between different mindsets is how this trust is built uh right um for not a younger generation but for one generation um trust is really built through your peers through influencers through tick-tock through authenticity and for others trust is built in a different and more classic way and that has actually affected us and i do think a lot of our partners and merchants are still soul-searching quite a bit here like how can you build trust by basically outsourcing your brand to third-party creators like it's a new world and i think that is really interesting but it's also it's different between you know young cmos and older cmos like how you approach that space i think it's highly interesting what we're seeing right now

### [20:17](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=1217s) Sustainability and inclusion

absolutely and you know while there's still a lot of uncertainty in the short term preparing for longer term consumer hate and behavior changes it's important now if companies are to capitalize on future opportunities so you know out of the changes that we've discussed i'm curious to hear from you both which you expect will be long lasting and one of the reasons for that i'm happy to take this one uh first if you want david uh i mean for me i think there's going to be an absolute increased focus and scrutiny um and quite you know quite rightly around corporate and social responsibility and i think there's going to be a much stronger expectation and from our customers for brands and for businesses and for business leaders to drive positive change and i think specifically in our industry of fashion and luxury there are two areas that are just going to become so important and i know they've been discussed at length uh sustainability and inclusion so i think with regards to sustainability i think you know customers increasingly expect um retailers and brands to guide them in shopping more sustainably and i feel that mr porter we've always felt we've got this deep responsibility towards our community uh our industry um and planet to continuously um commit to improving our journey and our practices and we really want to empower a much more conscious and a much more considered customer journey we know there's an appetite uh to kind of have this more sustainable living with our customers but we also know that there needs to be more guidance for consumers to move up that sustainability scale from you know thinking about it in tension and into interaction and that requires the right education and the right shopping experience and actually um you know i'm really excited uh because on monday we're going to be announcing um the craftsmanship code on mr pawsa and this is a big deal for us um yes it's a new section on the site which is designed to champion uh products made by brands that have a positive contribution to their communities and that operate within uh environmental and social considerations and i have responsibility at the forefront but actually um you know the introduction of this craftsmanship code really marks mr porter's long-term commitment to champion artisanal product and skilled craft within not just its current uh buying strategy but it's future browing strategy and it's it's really about um you know celebrating um you know investment uh pieces and product that has time skill care at every stage of the production and this is you know this is something we we know uh has a lot of value to our customers it's something that customers will want to invest in and we hope that they love and care for that and it will have you know more value over time and can be worn for longer um i think uh you know also with with that you're going to see a whole like amazing capsule collection called a small world where you see this amazing offering of very kind of diverse interesting highly curated um independent brands which celebrate craftsmanship so i'm really keen everyone looks out for that on monday um but just going back as well uh to um the second topic um which is one i honestly feel very um passionate about um is this piece around diversity and inclusion and i think you know um you know let's be honest we've seen with covid how the gaps and the disparity in society is getting much bigger and while uh mr porter we've championed exclu like inclusivity i think we have an opportunity to do more um and so you know back in uh april um our teams um really worked up an an initiative uh which we're very proud of and it's called mr porter futures i personally think it's a uniquely ambitious design and business mentorship program because it not only targets talent outside the fashion mainstream uh which has a you know which is a powerful example for the industry at large but it proactively addresses you know the historical issues around access network and investment from the very start so it really looks at the full um value chain of the business um and you know our goal is very much to discover original talent uh it could be you know someone retired in russia or a student in somalia but you know they don't need to have any experience they just need to have passion they need to have creativity and we want to kind of introduce and platform their work on a global stage um so applications actually just completed recently and we've received um you know i think over um over 77 about 77 countries um uh you know applications from so many different areas and um we're really excited about this journey we're about to go on oh wonderful um

### [26:02](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=1562s) Trends that will last

david what are you seeing from your end in terms of the shifts or the trends that will be long-lasting i mean saba is on to something maybe the most important thing when it comes to sustainability and i just want to build on that shortly which is we're really seeing a surge in secondhand and upcycling and all of those trends within that as well so i do think regardless of what kind of business you have i think you need to think more circular around like how do you connect all the dots in and again the second hand um or pre-owned or however we frame it is going to be huge in the next couple of years then there are a couple of more things i think the personalization aspect needs to be elevated especially with an e-commerce i think there is tons of data there's tons of competence but the way that data is applied in practice is not good enough yet i don't think the online e-commerce experience is good enough and whoever does that better than the others is going to be a winner then we have the sustainabi the convenience aspect of things um i do think like if e-commerce is going to become the main channel for people to actually buy things and interact with brands there is still loads to be done when it comes to convenience raging everything from you know pre-purchase to the purchase to the returns management there's just lots and lots of work to be done and then finally i want to call out again the the community thinking around e-commerce i think the ones that cannot only connect their brands with people but people with people are really going to be winners going forward because i do think especially in certain categories like shopping is not a transaction it is an interest like people want to connect with their peers on that interest they want to talk about things they want to be they want to feel like part of a community and um we've only seen the beginning of that as well so i do think the winners are going to be very strong within the community thinking

### [27:59](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=1679s) Future of payments

thinking is there going to be a change in terms of the future of payments as well given the events of the past year i do think like the first step in my opinion is to create really consumer friendly and sustainable payments in all fairness if fairness payments sound trivial but historically if you look at credit cards or um you know other forms of payment they're fairly consumer unfriendly they're to some extent predatory when it comes to hidden fees and aprs and things like that so the first part is just to create and offer payments that are sustainable from a business model perspective once that is done in my opinion i do think payments should move to the back end we're now talking a lot about payments because the current space is inconvenient and it's consumer unfriendly um but within very soon hopefully i think that shouldn't be a question anymore and now we look forward i'd love to hear from you both you know what's next and maybe we can start with you zabar you've touched on a few exciting initiatives that will be launching on monday and also more forward-looking but really what should brands or what is mr porter investing in to really ensure that they deliver on you know the retail marketing experience that consumers want sure i think you know i think there's a few areas i think every business needs to be investing in their data capabilities and their teams and that's about being able to better know and understand your customers that allows you to better connect with them more deeply and authentically i mean that's uh marketing 101 so for us uh you know insight continues to power a lot of what we're doing um but you know secondly kind of linking to building that closer connection with customers and increasing that brand relevance particularly for a global business like ours with our size and scale localization and what david mentioned personalization are fundamental and you know on localization we've done a lot with regards to you know improving our operational um service proposition we've expanded into you know more markets with our same day proposition um premier uh delivery we've expanded our personal shopping network across more cities uh we've got new teams in and offices uh dubai is going to be a big focus uh sorry middle east and we've got a team in dubai um so localization is is one piece and then personalization kind of ties into that and i think that's going to be um you know particularly key uh for you know customer retention and with also younger audiences there's we've seen from our researcher a much stronger appetite um here and you know we're doing a lot which i think a lot of e-commerce you know businesses are doing which is you know focusing on powered by data marketing from you know product recommendations to orchestrating our customer journeys cross channel but i do think you know one big thing i like to flag with data and insight you know it's really important not to forget to think about our customers as people first and you know when we talk about connecting with audience audiences i think it's about not forgetting that human aspect and i think that's where also values coming to play and that's why we're putting so much focus on sustainability craftsmanship and david mentioned community culture inclusivity so i think you know it's really important like you know it's not all science and we work certainly in fashion in a business which is part arts and you know that's what makes it beautiful wonderful and you know what's interesting is actually over the pandemic we we've seen how our customers have valued that one-to-one human touch and you know our personal shopping service which we offer to our top clients it's become even more popular than ever and i think you know this is going to only be an area that we continue to strengthen

### [32:16](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=1936s) Whats next for Kohls

thank you david what's next for kleiner what can we expect this year or what is the company investing in i mean we're investing in so many different things it would take me hours to to go through everything since we're expanding to new markets into new segments so there's loads going on but once again i i would like to highlight the fact that i truly and this is going to sound very shallow obviously but i truly believe that um we need to invest in content and making content viable because i do think that is the way to interact with people going forward so we're putting huge efforts into basically bible content call that live shopping for ourselves or actually enabling distributed retailer where we enable people to buy things regardless of platform right now we see a lot of walled gardens when it comes to purchasing things but really empowering uh people to buy and sell things regardless of that platform really looking into the user generated content piece around products around storytelling how can we inspire our 90 million consumers to be part of product reviews and content and really demoing the products because there that is an aspect that e-commerce is still lacking like that feeling of walking into a store feeling a product looking at the product seeing who else is in the store and feeling some kind of um confirmation from that like building those kind of capabilities in to our product is huge and then trying to distribute our product broadly obviously thanks david to quickly summarize our conversation before we move on to the q and a's as consumers turn to online shopping over the past year retailers have had to step up their game and we've seen categories like lifestyle grooming and more casual addressing enduring a boost but companies with core values that naturally aligned with their customer base also benefited and sabbah you talked about how shoppers were more purpose driven and they look to invest in quality products as e-commerce and digital experience are major priorities in 2021 but there's also a high correlation between consumer safety concerns and brand trust which is something you discuss david and personalization localization and new retail channels like live shopping are also coming to the forefront as new formats all right we'll now move on to the q a's from our audience bear with me why get these up the first question is what would your advice be to brands that are planning on launching post pandemic um this can be for either you david or siva i can take it david if you want go ahead i think um you know i think what's really important is uh and we've seen this with uh with our own business is you've got to have a plan for your staff as much as your consumers and i think you know uh this uh you know having people at the heart of your strategy both in the context of your talent and also consumers is key so i think my um my advice would be um don't take your talent for granted and uh you know especially with uh offices uh kind of starting to open up lockdowns lockdown's easing uh you know um make sure that you're um you're thinking about your talent uh their you know your employees are people that are also impact impacted by the uh the pandemic because actually they're your most valuable asset so if you have a plan for your employees business

### [36:06](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=2166s) New concerns

you have a plan for your business um another question that we have is you know as a result of the past year are there new concerns that weren't there before that customers have when shopping online that brands should be aware of and will need to prepare for um i can take the or a short answer would be i don't think this is a new thing by any means and sabbah has touched upon it a couple of times but the increased demand for sustainability and knowing that you buy from fair brands with fair values is that is just going to accelerate and we work with quite a lot of companies um older companies that are now asking themselves like what the hell should we do within this space so launching a new brand or accelerating your efforts post pandemic we see that i think in our research it showed that 70 of our consumers are going to be on the lookout for more sustainable fairer uh better valued brands so that is really something to build into your strategy from the start um so that you don't have to you know mend that in later on i was just gonna add as well i think you know what's also happening is there's just so much more competition and everybody has to be prepared for that like lots of brands that hadn't digitized are moving online and uh you know people are uh you know doing their research they're comparing they're contrasting it's very easy um to also kind of uh buy products sometimes the same product from different places so i think you know being really clear on your brand's value proposition is a big one and i think you know david you mentioned it particularly when you're thinking about um moving online you know that trust piece you can't take it for granted and i think you know trust and expertise of expertise is one of our i guess one of our differentiating factors that that's really allowed us to kind of capitalize on like entering into new spaces right um we we've gone beyond fashion we go into luxury watches now we're going into you know we're starting to really um uh you know go into new spaces grooming sportswear homeware and we've been able to do this uh because you know beyond even new categories actually i think even launching our own labels as proved it we've been able to do this because uh people trust us and uh we have a very strong uh brand value proposition and people really respect that expertise and that authority so i think you know um be aware it's only going to get more competitive so be clear on your your brand value proposition thanks about i'll just go through one or

### [38:57](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=2337s) Brand loyalty

two more um there's one question here on the impact on brand loyalty and i'm also guessing it's because when you're online you know consumers are spoiled from choice and i wonder if you're seeing new expectations or shifts in um in consumer behavior in that sense i can take this one if you want david or do you want to i think we have i'd love to hear your answer yeah i mean it links to the point i just made right more competition more choice and i think customers are becoming a lot more demanding uh so um you know loyalty for sure is impacted and i think you know there's two things here how do you retain your um your high value customers you need to be um really investing in them and you can't take for granted uh that they won't go anywhere else so i think this is a big one for us in terms of constantly challenging ourselves to improve our service proposition not to get complacent uh to make sure um where uh we're improving um we're improving things on that front but i also think um you know when it comes to um loyalty generally i think there's a piece around um you know having uh you know understanding that the kind of context is changing and uh you know uh for us we're not just focusing on retention we have to be thinking about acquisition as well in this context and as i said we we've seen this amazing um you know new customer growth there's an opportunity to also build your base and uh you know grow your business in different ways as well um so for me there's the you know making sure you've got your services with your you know your top clients but it's also about being that very friendly and inclusive um place and making people feel welcomed and part of the community and i think you know that is equally as important and now particularly yeah now i was actually about to say that i'm not a huge believer in brand loyalty i think the party organizations get too complacent when they think about brand loyalty and they stop thinking about growth um and also if you just look at the data the vast majority of companies if not all companies have their largest customer base within low frequency buyers which basically means like regardless of what industry you look at your customers are customers with your fiercest competitors as well then you obviously have a small hardcore loyal group but i wouldn't think too much about brand loyalty um i think it's a constant fight for offering the best possible consumer experience having proposition and working with that as a growth engine great

### [41:58](https://www.youtube.com/watch?v=lSjAhAqMrs4&t=2518s) Working with influencers

david um i'll just bring up one last question we're getting quite a few here are around um working with creators and influencers and i wondered um you know what your opinion wasn't this how should brands and retailers work with them going forward is it through kind of like organic paint content an affiliate model of where do you see things going next in all fairness we're trying everything and if i would have the perfect recipe i wouldn't probably wouldn't share it here in the webinar either but um i think just allowing yourself to to dip the toe to dip the company's toe into that space and see what works for you is it better with ambassadors microinfluencers is it better through affiliates what works on each and different platforms um i think it's a highly interesting space and i do like over time very few companies are going to be able to compete with their own content i actually believe that mr porter is one of those companies that can do because the content has such high quality and is not niche but it's just it's very hard hitting within a specific space for many other companies i do think user-generated content activating user base and working with that is key to what we do and i think uh i mean this is nothing revolutionary but we are moving into the age of creators we see that every single platform is about creators serving the creators most big brands work with creators i think if you're not thinking about engaging with creators and creativity um i think you're losing out i was just going to make a point um as well on this one because i think it's such a big topic but i think you know as david said there's not just one set way of working um with creators and i think there's real um interesting nuances regionally there's interesting nuances when you think about channels i think you know it all goes back to what is your objective and uh you know there's different objectives also sometimes driving how you work uh with the with creators is it to sell more is it about repositioning is it about reaching new audiences is it about creating amazing high quality content that dictates um you know that take the takes the approach you um you adopt with uh with the creators in general sure well we are finally out of time so i would like to you know thank both of our panelists for being here today david sabah thank you so much for sharing your insights thank you very much for having us so a reminder for our viewers that this will be available to re-watch once we wrap up but this is now the end of our webinar thank you to everyone who joined us

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*Источник: https://ekstraktznaniy.ru/video/52803*