By Sonal Gandhi
Chief Content Officer at The Lead
Brands and retailers are testing new ways of improving loyalty beyond discounts – Footlocker is allowing customers to use points on boosting their chance of winning exclusive access while New Balance is using trade-ins as a way to create stickiness. To hear from New Balance and others on the evolution of loyalty join us as The Lead Summit on July 10th & 11th in NYC.
● 63% of consumers have positive impressions of TikTok ads with 14% reporting making purchases weekly, per DISQO. (WWD)
● Foot Locker rolled out the newly reimagined FLX Rewards to provide “better product access, better chances to win high-heat products and more rewards for being loyal customers”. The new rewards program allows customers to spend their rewards points to secure a better chance at limited and exclusive product drops. (Glossy)
● Global container costs rose in recent months due to factors including unrest in the Suez Canal, water levels in the Panama Canal, and dock worker strikes. (NY Times)
● Extending its resale service to more customers, New Balance is launching its in-store trade-in program in nearly 100 participating U.S. retail locations. Shoppers can trade in their gently-used footwear for a voucher toward their next purchase at New Balance. (Retail Dive)
● Target is partnering with Shopify to onboard a selection of its popular merchants like Caden Lane and True Classic onto Target Plus and into its physical stores. (Retail Dive)
Join over 1,000 retailers and brands scaling their marketing with Listrak. Visit us at The Lead Summit to learn how Listrak’s integrated marketing platform can elevate your cross-channel campaigns and accelerate your growth. Plus take home a free pair of Knockarounds!
The size of the secondhand retail market is projected to reach $276B, per OfferUp.
Shein confidentially filed to IPO in London.
MetVet (pet care) raised capital from Leonard Green.
Stripes Beauty (Naomi Watts’s menopause brand) was acquired by L Catterton.
L’Epee 1839 (Swiss clockmaker) was acquired by LVMH.
SCI Flooring ( floor coverings backed by Rainier) acquired Carpetbaggers, Inc.
Alexandre Vauthier (French fashion brand) sold to REVOLVE.
Summer Garden (food manufacturer) was acquired by Lassonde Industries.
Samsara Eco (plastics recycler backed by Lululemon) raised $65M.
The Picklr (indoor pickleball) raised a $9M Series B at a $59M valuation from Pickleball, Inc.
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