Simplicity is the ultimate form of sophistication - Leonardo da Vinci
In today's ever-evolving landscape of commerce, where noise and oversaturation reign supreme, the challenge for early-stage sustainable luxury and mission-driven brands is not merely to exist but to truly stand out. Amidst a noisy market, it's imperative for founders and retailers alike to pause, take a breath, and recenter themselves on their core mission and purpose.
This sounds simple, yet with all things rooted in simplicity, requires continuous curiosity — internally and external, refinement in our messaging, purpose, and deep understanding that our communities, customers, and potential customers are also constantly changing. We must constantly ask ourselves,’How can we deliver better? What do our customers and community desire from us? Are we delivering at the highest to at every touchpoint of ones’ journey in our universe?
In a world where quantity often masquerades as success, it's the commitment to tailoring a mindful and strategic approach balanced between data, creativity, and intelligent collaborations that truly distinguishes a brand. As an advisor to such visionary founders, the importance of understanding the "why" behind your business is more important than ever. This introspective journey lays the groundwork for authentic connection with your audience,customers, and lagged customers, transcending mere transactions to foster lasting relationships.
It's not about pouring millions into digital marketing campaigns, but rather about recognizing and nurturing your low-hanging fruit. Bluecore's insights underscore the significance of customer retention and reactivation, particularly in health and beauty.
Bluecore reports the following from more than 100 retailers:
Health and beauty has the highest retention + repeat purchase. Avg repeat purchase rate at 21.5%
Lapsed customer reactivation rate avg. 6.6% with health and beauty leading at 9.2%
Sales per reactivated buyer is 12.7% higher and purchase frequency is 7.7% higher than for new buyers.
The % of revenue growth per buyer when you convert from new to active buyer: 78.2%
By leveraging these findings, we can tailor strategies meaningful to each brand that resonate with audience's needs and aspirations.
At the heart of every successful venture lies a solid foundation built on unwavering values and a clear sense of purpose. As stewards of sustainable luxury and mission-driven endeavors, we must resist the temptation to emulate others' paths to success. Instead, forge your own, guided by conviction and authenticity.
Consider the case of Josh Rosebrook—a beacon of consistency and integrity in an industry fraught with fleeting trends. By staying true to his vision and delivering on his promises, he has cultivated a loyal following that extends far beyond mere consumerism. Read about it here
In the pursuit of success, let us forego the rat race in favor of steady, organic growth. Nor is it about building it and hoping they will come; whether you are a brand or a retailer, forge your own path, and remain steadfast in what you wish to bring into the world.
Nurture every touchpoint, utilise your data and continue to meaningfully connect with your those who enter into your universe with care and intention.
As an advisor, my mission is clear: to empower early-stage sustainable luxury and mission-driven brands to thrive in a world that demands more than just products—it demands purpose. Let us embark on this journey together, embracing the complexity of execution while staying steadfast in our commitment to authenticity and impact. Connect with us here
To your success xx
artist: Hana Katoba