Is Fashion Retail Doomed?
Insights on marketing, business, branding, products, design, founders, and culture.
GM everyone. Happy 1st day of Q2.
How did you fail in Q1 and what can you learn from those mistakes to optimize for Q2?
Evaluate where you fell short and make the pivot hard and fast, or risk your failures compounding.
Here’s my own personal list of failings and how I am correcting—
Was lazy at creating videos on TikTok. For this, I am dialing in on more refined systems to produce better content more often. At the core of creating videos is my goal to tell the best story possible. At heart, I am a filmmaker. So I am working on some new concepts I want to test out this week.
Haven’t read enough books. So far this year, I’ve finished a grand total of 0 books. I’ve purchase several! And they’re collecting dust. Time to dedicate some nightly time to read, or start reading on the train.
Unfocused newsletter strategy. Often times I’ve struggled with how to narrow the focus of this newsletter. If you’ve noticed, recent newsletters have been more concise, focused, and consistent. This is intentional. I’ve also started sharing snippets and thoughts from this letter on social.
Dialing in on fitness. I run and lift a lot. Probably 6 times a week. But I seldom take the necessary steps to properly recover. So I am going to figure out some new stretches, supplements, and try to get more sleep.
Lock tf in. Let’s get hot and rich.
News
Are online fashion retailers doomed? We are witnessing an incredible collapse of fashion retailers that just a few years ago reached peak valuations. Matches Fashion was once worth $1B, before being acquired for just $66M and is now considered ‘commercially unviable’ The precarious thing is that these retailers owe designers money for wholesale purchases. One jewelry maker says Matches owes her $63,000, while they are still actively selling her merchandise on the website. That has to sting. SSENSE seems like the last commercially viable retailer, but I hear rumors they aren’t doing that well either.
Showing your face could get you more work as a freelancer. I am noticing a trend online of creators, designers, and other types of freelance workers sharing posts with a photo of what they look like, and then an example of their work. Viral video creator and founder of the ‘Obsession Movement’ Zach Pogrob, said on X that this was a secret key to success. Sharing a bit of your personality online is crucial to developing an authentic connection with your audience.
Sundberg has talked about the strategic advantages of including a Macbook selfie in each one of her newsletters. People want to work with people they know and like. If you’re a freelancer or trying to display your work online, try this out!
McKinsey is paying people to quit. The consulting giant is offering associates 9 months severance, CV guidance, as long as they show themselves the door and find a new job somewhere else. This is their latest bid to reduce headcount and cut fat. There are about to be a ton of consultant bros living it up this Summer on that sweet sweet McKinsey severance package.
April Fools is one of the worst days for brand marketing. Today is April Fools Day aka the day every brand tries to make some joke online or do something hilarious like ChAnGiNg ThEiR NaMe on TwITter. “trust us guys its for real” Like ok. or dropping a WHACKY, TWISTED product. Smart brands, please just ignore this day.
Save money by making your coffee at home with a $1500 espresso machine. Did you know the market for high end espresso machines rakes in around $400m annually, with average purchase prices floating around $1500. The stating power of work from home culture has led many white collar workers to spend a rack and a half on a home espresso machine and become full on coffee nerds. I am a coffee aficionado myself, maybe I’ll get one. My dream machine is this concrete-esque, Brutalist version from Anza.
Who Do You Know? is a daily newsletter covering marketing, business, branding, products, design, founders, and culture.
Its written by Jake Bell, a content marketing and brand strategist in NYC.
To get in touch visit www.jb.studio or email jake@jb.studio
ok didn't know April fools marketing went back to 1983...............
Great read. Thanks for sharing.