Fashion People The Him of Skims
Dec 13, 2024
Jens Grede, CEO of Skims and serial fashion entrepreneur, shares insights on the brand's explosive growth, its new flagship in New York, and collaborations with celebrities like Kim Kardashian. He also discusses the challenges of working with a spouse in business. Joining him is Dan Frommer, founder of The New Consumer, who reveals trends from his report, including the rise of TikTok shops and changing alcohol consumption patterns. Together, they explore the evolution of the luxury market and the importance of authenticity in branding.
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E-Commerce Growth
- E-commerce spending has more than doubled in the last five years, reaching COVID-era levels.
- Increased convenience, aggressive online discounts, mobile shopping, and buy-now-pay-later options contribute to this growth.
TikTok Shop's Success
- TikTok shop's rapid growth is driven by its integration into a popular entertainment platform and its aggressive, shameless sales tactics.
- Despite trust issues, the platform's success underscores its content-to-commerce model's effectiveness.
Alcohol Trends
- Alcohol consumption remains steady, despite the rise of non-alcoholic substitutes.
- Interestingly, people on GLP-1s intend to drink more, contradicting the expected decrease in alcohol consumption.