While brands with larger customer bases generally have more app users, the fast-fashion and athletic segments saw some of the highest numbers of monthly users in 2022, according to a Data.ai review of apps selected by BoF.
Last year was challenging for Farfetch, but there was at least one bright spot for the company.
Farfetch’s app was its “most profitable and fastest-growing channel,” Stephanie Phair, group president, said on the company’s earnings call in February.
Companies such as Nike and Levi’s have also pointed to their apps as key drivers of digital sales. For fashion retailers, an app that gives them real estate on a consumer’s phone screen and a direct line of communication through push notifications is enticing. Consumers can check their devices more than 50 times a day. More and more often, they’re doing so to shop. The share of US retail sales happening via mobile is forecast to reach 8.7 percent in 2026, according to Insider Intelligence, up from just 4.1 percent in 2019.
So should every brand have an app?
Read the full story on why apps aren’t easy or cheap to develop, and they’re a better fit for some businesses than others. But when they connect with users, the payoff can be substantial. #linkinbio
✍️ Marc Bain
#fashionapp #app
Last year was challenging for Farfetch, but there was at least one bright spot for the company.
Farfetch’s app was its “most profitable and fastest-growing channel,” Stephanie Phair, group president, said on the company’s earnings call in February.
Companies such as Nike and Levi’s have also pointed to their apps as key drivers of digital sales. For fashion retailers, an app that gives them real estate on a consumer’s phone screen and a direct line of communication through push notifications is enticing. Consumers can check their devices more than 50 times a day. More and more often, they’re doing so to shop. The share of US retail sales happening via mobile is forecast to reach 8.7 percent in 2026, according to Insider Intelligence, up from just 4.1 percent in 2019.
So should every brand have an app?
Read the full story on why apps aren’t easy or cheap to develop, and they’re a better fit for some businesses than others. But when they connect with users, the payoff can be substantial. #linkinbio
✍️ Marc Bain
#fashionapp #app
