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As retailers shift their focus to costume manufacturer in the most effective way, Big Data is becoming a key tool for companies like The Gap, Inc., President and CEO Art Peck, telling CNBC.
Peck said in an interview with “Crazy Money” moderator Jim Cramer on Wednesday: “We are really building backend big data analytics for a few years now. Data is a huge asset for us.” “I was surprised The fact is that more people in our field are not talking about it.”
Peck said that the old navy, Gap of the banana Republic and parents of Athleta and other parent companies easily beat earnings expectations in March, thanks in part to the strength of their brand.
As of Wednesday’s close, the Gap stock price has fallen more than 10% so far this year, but it has risen more than 24% in the past 12 months.
The retail giant conducts 2 billion customer visits between its websites and stores each year, and also uses the data it collects to use it in the consumer market, which leads to improvements.
“We know a lot about our customers. We can see their lifetime value. We know who our most valuable customers are,” Parker told Cramer. “In terms of structure, because we have multiple brands and multiple channels, we have many things that other clothing companies do not have.”
Peck said using consumer data to pay dividends in a variety of ways. It helps Gap to get the best return directly in the most effective way; it gives the company insight into the needs of consumers in the company; it helps determine where the value is.
“If you look at the difference between an occasionally involved customer and a customer who is really deeply involved in the cross-channel channels of our brand, then the value of this customer is at least 10 times that of the customer,” said the CEO.
Peck continued: Today, Gap’s marketing spending is heavily skewed toward advertising on social media rather than traditional media.
In an interview with Cramer, he said that advertisements on platforms such as Facebook and Instagram can allow retailers to target customers more specifically, and provide Peck with “outstanding line of sight returns”.
“This is very effective for us,” said the chief executive. “If I get 6 times or 8 times the return on advertising spending, I might say that I want to spend 3 times the return, and I still get an incremental return on the dollar. It’s hard to do that for traditional media.”
However, Gap and its basic business did not lose more traditional retail business. The company’s sportswear brand Athletel has grown from online sales to 140.
“Most of the retail is from entities and costume manufacturer online, Athleta is from the web and directory, and it is being materialized, and we are very focused on making sure we are building tomorrow’s retailers,” Peck said.
Peck said that Athleta’s business is now only half of the online, semi-entity, and plans to expand physical storefronts at a “responsible pace.” But for Gap and Athletea, the focus remains on consumers who want to see from top brands.
Peck pointed out that Athleta has recently become a company B, which is a kind of certification similar to “fair trade”, which recognizes a set of strict social and environmental standards.
“This is a question of value. Our customers are very responsive and the participation of the brand is amazing. This is what consumers are looking for today,” Peck told Cramer. “I don’t care if this is a millennium or a 70-year-old woman. She thinks this is a brand. She can relate to the brand from a perspective of values. This is a very powerful equation.”
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All dressed up, go with the perfect place!
After putting on my “Wonder Woman” costume and renting it from the Chicago costume manufacturer company earlier this week, I was ready to experience my first Chicago comic and entertainment fair (C2E2).
C2E2 is a consumer-driven conference, a mecca for comics, pop culture, image fiction, role-play, anime, comics, video games, toys, movies, and television held annually at McCormick Place. According to organizers, last year – 80,000 people participated, many from all parts of the country.
When I arrived on Friday’s opening day, no instructions were required. If you get lost, just follow the “Thunder” or “Black Panther” and you will know that you are moving in the right direction. The number of costumes (role-playing) is impressive and impressive.
Everyone has something – all inspiration comes from some form of pop culture – stalls selling jewelry, comic books, vintage and rare toys, clothing and games. At Artist Lane, fans have the opportunity to meet their favorite illustrator, painter or writer. Artists behind the artist, both prominent and small, are sitting behind the table, ready to meet and talk with fans or provide custom drawings.
Another part is full of old-fashioned tube TVs running old-fashioned video games, old games, I have enough hands and eyes to play in coordination. This is not the only sale nostalgia. Suddenly, I want to buy a cool, modern “My Pony” print! (Later, I was told that this came from a new restart program called “My Little Pony: Friendship Is Magic.”) Love Cat Garfield with Lasagne! I eagerly want a super-sized “Totoro”. But this is what the supplier says “display only.”
I saw a group of adult female “Pokemons” who spent thousands of dollars for complex 3D printing. This is just one example of the time, money and effort that some role-players spend on the wardrobe.
For the first time using this game, there will be a lot of damage, make any opponent blush. I was confused by “Dr. Strange” for “Doctor Who” and “Assassin’s Creed” for “The Matrix”. For the annoyance of my photographer Eliza Davidson, I didn’t know “Sailor Moon” and couldn’t distinguish “Jade Ji”, “Naruto” or “Dragon Ball.”
However, there are some victories! I do acknowledge the players of “Star Wars” and “games of power”! In addition, I know “Wolverine” in “X-Men!” I met many “Wonder Woman” – all versions!
The most incredible impression is how friendly all players are to each other. I saw with my own eyes that the compliments conveyed courtesy inquiries about costume manufacturer, which led to friendly conversations between strangers.
Among the role-players there is a clear sense of pride and closeness to joy. Talk about something unusual! People actually want to talk about and answer my questions. Many people talk about the joy they bring to them because children are deeply in awe of what they look like “real”!
There are a lot of cell phones that take photos and selfies, but most of the people I see are people who build real connections. Role-players go beyond age, gender and race, and all those illusions about nerds or geeks. It is a wonderful feeling that the rumors and buzz of people who can be the foundation of thousands of common passions are the starting platforms for dialogue.
What I mean by this is that I’m Wonder Woman, but… I can see that without superhero eyes, real, face-to-face relationships at any level are a good thing in today’s world.
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Like many senior executives in China’s high-tech production, Xiao Fuqiang has been maintaining frequent customer contact in the United States in the past week.
“I contacted my American customers one by one. We have been closely communicating, hoping to find the best way out, “Xiao said, deputy general manager of Guangzhou China Sun Electronics Co., Ltd., the production of sports cameras.
The US plans to impose tariffs on China’s imports of about 50 billion dollars and limit investment in China. The move triggered concerns about the trade war between the world’s largest economies.
China’s high-tech industries, such as electronic equipment costume manufacturer, information technology and new energy, may be the main objectives of Trump’s tariff plan.
Xiao said his US partners have expressed their willingness to prepare for the potential impact and share risks.
“We are all very important,” Xiao said. Most of the action cameras are in China and in the US. Of their tariffs will only lead to a lose lose situation.”
Xiao’s opinion is Wu Tianwen, President of Dongguan surpass Industrial Co., Ltd., a consumer electronics product.
Over the past few years, Wu’s company has established a close partnership with American customers: they share the cost of production, and 90% of Wu’s products are exported internationally through his American partners.
Constantly escalating the threat of trade disputes between China and the United States, whether Wu or his partners want to see cooperation, Wu Yue.
Years of partnership have created an effective way of cooperation between us. Wu Yue: “we are very complementary and important to each other.” That’s why we are making every effort to find a way to reduce losses.
An American customer of Wu said in an e-mail that Trump’s decision will eventually hurt American customers.
This has become the consensus of American enterprises. The trade associations of about 45 American retail, technology, agriculture and other consumer goods industries urged the US government not to impose tariff plans on American imports, which would damage Chinese consumers and companies.
In the past week, many Chinese manufacturers have also felt the pressure of the global trade chain, which is caused by trade war.
“The situation is not optimistic,” Tang Guobao said. The deputy general manager of Guangzhou sunsong Technology Co., Ltd. is an industrial robot.
China is the main costume manufacturer of industrial robots, but these robots are made by many sophisticated instruments in the United States, which are produced by companies in Republic of Korea, Japan and Europe, Tang said.
“At least in the industry robot industry, there will be no spectators, only the victims in the trade war,” Tang added.
The same is true of the iPhone industry chain. It is an important part of smart phone industry in China. Behind it is a big network of global cooperation, division of labor and profit sharing, including American companies, “said the president of a large Chinese smartphone maker, who did not want to be named.
At a news conference on Thursday, Gao Feng, a spokesman for China’s Ministry of Commerce urged the United States to “return to the right track for win-win cooperation between the two countries”.
Gao said: “the United States must abandon unilateralism and protectionism and take measures to resolve disputes through dialogue and consultation.”
“China is always an open negotiation,” Gao said, emphasizing the principle of equality and constructively, and making concerted efforts to balance it.
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