During recessions, there’s a phenomenon known as the ‘lipstick effect’. It refers to people occasionally buying smaller treats like lipstick instead of splurging on bigger and more expensive items. This theory is based on the idea that consumers would always find the means to purchase luxury goods regardless of the economic situation. But in 2020, […]
During the second half of the 20th century, fashion became one of the leading industries in the world. But as you’ll learn from these fast fashion statistics, it was fast fashion rather than luxury fashion that helped transform the industry. It also changed our perception of clothing and how we purchase and wear garments. Keep […]
Even before the coronavirus crisis, 2021 did not look promising for the global fashion industry. But now companies will have to exceed expectations to stay afloat. The industry has to focus on digital, environmental, and ethical innovation to stay relevant as consumer priorities drastically change. So what do fashion industry statistics have to say about […]
The ecommerce market has seen incredible growth over the past decade. With the global pandemic raging in 2020, more and more people started relying on digital stores to provide them with anything they may need—from groceries and clothes to electronics and furniture. In this article, we’ll examine how many people shop online and look into […]
At the moment, Amazon is the biggest name in the world of ecommerce. Its retail numbers sound quite insane, and the number of people visiting this platform is growing every day. There are numerous impressive Amazon statistics, especially those related to the holiday season when the sales are so huge that no old-school retailer can […]
Groupon started in November 2008, but it was quite different from what it is today. The idea was to launch a group buying platform with deals available only once a critical mass or a tipping point was reached. However, this model soon had to be abandoned for financial reasons. Regardless of the business model, the […]
Luxury is the opposite of necessity. However, we all need to indulge in little luxuries from time to time. Shopping for luxury items, whether they are gifts for oneself or a friend, can be the best therapy when you have a bad day. But the luxury retail industry is showing signs of stress in 2021. […]
While fashion companies are still primarily interested in growing or at least maintaining their market share, they’re also eager to adopt environmentally responsible business models. After all, that’s what consumers worldwide want—and sustainable fashion statistics illustrate it. So what is sustainable fashion? The term refers to practices adopted by companies and consumers to reduce their […]
Simply put, affiliate marketing is the process of receiving a commission by promoting another person’s or company’s products. Affiliate marketers usually own niche blogs or websites and are trying to attract as many visitors as possible. These websites are specialised in providing information and answering common questions in a specific niche or area of interest. […]
Creating and executing successful online marketing campaigns has become impossible without the use of social media platforms. Social commerce definition puts sites like Facebook, Instagram, and Twitter at the centre of product promotion. Proper utilisation of these tools gives marketers a more convenient way to find and reach their target audience successfully. This article will […]