Forging deeper emotional connections to customers is a strategic imperative at New York & Company. But, understanding how a customer experiences the brand via all channels presents an opportunity for the company to gain even deeper and stronger customer relationships.
New York & Co. CEO Greg Scott talked about this strategy during the company’s March 17 fourth quarter earnings call.
“Understanding how the customer experiences our brand through each channel plays a unique opportunity to differentiate assortment and provides a parallel path for growth,” Scott explained, according to Seeking Alpha. “For instance, our New York & Company channel has a strong fashion in lifestyle projection in an environment that provides our customer the fullest experience including our sub brand, fashion, and celebrity partnership.”
New York & Co. grew its comparable store sales by 3.1% in fiscal 2015, which was the highest annual comp in 10 years.
“It’s clear that we continue to drive strong positive momentum in the business as we leverage our differentiated market position and uniquely defined brand to drive our business forward,” Scott said. “From our celebrity collaboration, to the expansion of our credit loyalty program, to the strategic right positioning of our real estate portfolio and robust growth in ecommerce, we’re beginning to gain traction on our key strategic initiatives, resulting in a significant improvement in our business. Additionally, we continue to improve our efficiencies by investing in areas that will drive a long-term growth such as our enhanced omnichannel capabilities, our in-store technology, and the expansion of our credit loyalty program.”
The Eva Mendes collection continues to exceed company expectations, driving increases in traffic and transactions, which have led to increased sales and improved penetration.
“We remain focused on creating a deeper emotional connection with our customer, which will, in turn, increase brand awareness,” Scott said. “We’ve got great partnerships with Eva and Jennifer and we will continue to leverage their star power throughout the year in ways that are authentic to both their personalities. New York & Company will continue to be known for great celebrity partnerships and collaborations that are exclusive to our brand. Next, we will continue to drive customer loyalty engagement by growing our database through the expansion of our credit loyalty program and increased email capture. By expanding this base, we can further enhance our connection with consumers and create additional touch points to invite her to shop more throughout the year.”