Digital Brands Group, Inc. (“DBG”) (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, announced today that they are expanding their already expansive e-commerce ecosystem by launching a select group of brands on Amazon this Fall.
As the pandemic shifted more shopping online, Amazon overtook Walmart as the top apparel seller, according to a Wells Fargo report in March. Wells Fargo estimates Amazon’s apparel and footwear sales in the U.S. grew by roughly 15% in 2020 to more than $41 billion, which is 20% to 25% above rival Walmart.
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According to a 2020 report from VentureBeat, the most popular shopping categories among Amazon Prime shoppers in the US are electronics, apparel, and home and kitchen goods. According to a September 2018 report from Retail Dive, Amazon product searches for women’s clothing had a 42% market share.
Laura Dowling, DBG’s Chief Marketing Officer, said, “Amazon adds an additional customer acquisition channel to our marketing strategy. We have reviewed data from several apparel brands that have leveraged Amazon’s marketplace and we are excited about the opportunity this channel adds to our customer acquisition and brand awareness.”
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DBG is excited to be finalizing an agreement with a marketing services firm that specializes in Amazon advertising, which we believe will quickly and effectively provide additional brand awareness and bolster customer acquisition. The Company has a tactical plan for expansion onto Amazon, with the ultimate goal being a fully interactive custom DBG store with exclusive content in the near future.
“Amazon is a juggernaut in the retail industry regardless what category you are in. It is imperative to any brand to have a well-designed, high traffic presence on the platform to add to brand recognition and promote sales both through the platform and on other channels the bottom line.” Said Laura Dowling. “Our data gives DBG great confidence we can hit above average conversion rates at a cost for customer acquisition compared to industry standards, we look forward to sharing the results of this project in the coming months.”
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