Walmart Refreshes Gen Z-Focused “No Boundaries” Fashion Line
Walmart announced that on July 16, 2024, it will relaunch a refreshed version of its No Boundaries apparel line, targeting Gen Z consumers with trendy, stylish, and affordable clothing right on time for the fall school season. The revamped $2 billion brand will feature 80% of items priced under $15. Walmart sought help from a highly experienced design team to rebuild the No Boundaries brand to appeal to younger adults.
“Refreshing our private brand portfolio is critical to our fashion strategy as we evolve our assortment to resonate not only with our core customers but the next generation of Walmart shoppers,” said Jen Jackson Brown, Senior Vice President of Walmart U.S. Fashion Brands. “There’s a huge opportunity for Walmart to reach a Gen Z customer with a brand that has both incredible style and unbelievable prices. We have 145 million U.S. customers shopping with us in stores and online each week, and the new No Boundaries brand is designed and marketed with the intention to reach this young adult audience by focusing on fit, quality, style, and fabrics that resonate with them.”
The new line will be available in stores and on the retailer’s website and will include 130 pieces ranging from women’s and men’s clothing to shoes and accessories. Highlights feature modern shapes like baggy jeans and cropped tees, along with high-quality fabrics such as seamless stretch, lux fleece, power mesh, and authentic denim. Additionally, No Boundaries will introduce a sleepwear line and a plant-based bra pad made from more than 75% sugarcane. Body inclusivity is also a focus of the relaunch. Sizes will range from XXS to 5X for young women and XS to 3X for young men. Meanwhile, Walmart also plans to leverage social platforms, including its Walmart Discovered experience on Roblox, to engage with Gen Z, where they spend their time. A Roblox creator will assist in curating No Boundaries outfits, allowing users to purchase real-world fashion items on the platform and unlock virtual counterparts.
Learn more about the Walmart No Boundaries apparel line here:
https://www.walmart.com/cp/no-boundaries/7537913
Michael Kors Enhances Customer Experience with the Introduction of Shopping Muse
Michael Kors is introducing Shopping Muse to enhance the customer experience. Shopping Muse is an AI-driven shopping assistant developed by Dynamic Yield, a Mastercard company. The innovative tool, now available on the Michael Kors website in the U.S., leverages generative AI to provide personalized fashion recommendations just in time for summer travel. Shopping Muse helps consumers by looking at past preferences and shopping behaviors as well as any current inquiries. By delivering more tailored solutions, customer satisfaction is enhanced as is company revenue. Shopping Muse boosted conversion rates by up to 20% during initial testing compared to traditional search.
Ori Bauer, Dynamic Yield CEO, stated, “As a trailblazer in ready-to-wear fashion, Michael Kors is a perfect example of how to put our ready-to-use technology to use. Shopping Muse is helping translate the signature Michael Kors service to the digital world, delivering a satisfying shopping experience as singular and impactful as the brand’s aesthetic.”
After its launch late last year, Shopping Muse was made available to fashion retailers. Michael Kors is the first retailer to utilize the platform and make it available for customers. Shopping Muse has also recently become available for furniture retailers.
Learn more about Shopping Muse here:
https://www.dynamicyield.com/shopping-muse/
Costco Plans Venture into Retail Media Network Market
According to Marketing Brew and Forbes, Costco, the third-largest retailer in the United States, is planning to launch a retail media network (RMN). Costco will leverage its extensive loyalty membership program to power the new venture. With 74.5 million paid household membership cards, Costco plans to harness data from both in-store and online purchases to offer targeted advertising based on past purchasing behavior. As of last year, Costco operated 861 warehouses. In 2022, the retailer counted $217.5 billion in global sales.
“The launch of Costco’s retail media network is an exciting opportunity for advertisers. While there could be some initial hesitation from advertisers because Costco is ‘members only’ and thus not as wide or far-reaching, it’s actually a brilliant way to effectively target buyers since membership retail media networks can provide advertisers with the holy grail of online and offline targeting and membership,” said Nich Weinheimer, Executive Vice President of Strategy at Skai. “Because Costco keeps track of what each member buys, the data on purchase behavior is nearly unmatched. This means that ads can be targeted to loyal shoppers based specifically on their recent purchases, behaviors, demographics, cart sizes, and more.”
Retail media networks are rapidly growing. eMarketer estimates global ad spending will reach $140 billion in 2024, a 21.8% increase from the previous year. By 2025, this figure is projected to approach $166 billion. Meanwhile, RMNs currently account for approximately one-fifth of all digital ad spend. As legislation impacts privacy laws and with cookies phasing out, RMNs are becoming more appealing in advertising due to their access to first-party data.
Learn more about Costco’s membership levels:
https://www.costco.com/join-costco.html
Read More on Trends, Updates, and Industry Leaders
Original Article Links:
Walmart Relaunches No Boundaries, Its $2 Billion Modern Fashion Brand Designed for Gen Z
Michael Kors First to Debut Shopping Muse, the AI-Powered Shopping Assistant From Dynamic Yield by Mastercard
Costco Announces They Will Launch A Retail Media Network