In its Spring 2023 trend presentation, Net-a-Porter, the renowned online luxury retailer, showcased the immense power of data in driving sales and understanding customer preferences. Libby Page, the brand’s market director, emphasized the crucial role of data-driven insights, fashion trends, and the expertise of the buyers in shaping the company’s overall strategy. By harnessing the potential of consumer data, Net-a-Porter ensures that its product curation aligns perfectly with what customers desire, while also gaining a deep understanding of their shopping habits.
An excellent example of Net-a-Porter’s data-driven approach to inform buying decisions lies in the popularity of the color pink among its customers. Page revealed that hot pink shoes have experienced exceptional sales recently, largely influenced by a trend set by Valentino and the highly anticipated Barbie movie, slated for release in July 2023. Page predicts that this trend will continue to flourish until the movie’s launch. Moreover, she anticipates cool icy blue tones, as showcased in the Spring 2023 collections of esteemed brands Alaïa and Proenza Schouler, to become the next major color trend for the summer.
Net-a-Porter’s customer base is significantly influenced by wider cultural movements and high-profile initiatives, with celebrity placements playing a pivotal role. Page highlighted the impact of Coperni’s innovative presentation, where Bella Hadid wore a liquid paper dress, attracting considerable attention and boosting brand interest and searches. The power of celebrity endorsements was further exemplified by Victoria Beckham’s metallic silk slip dress, which she wore to her son’s wedding, as well as Sarah Jessica Parker’s portrayal of Norma Kamali’s blue ‘Diana one-shoulder dress’ on the set of the highly anticipated Sex and the City re-boot. These instances led to a notable increase in searches and subsequent sales.
During the Spring 2023 collections, numerous items gained significant popularity in searches on the Net-a-Porter platform. Across all categories, ‘black’ emerged as the top search term, experiencing a 30% surge compared to previous months. ‘Sheer tops’ witnessed a staggering 600% increase in searches, while transparent heels saw a substantial 400% rise. Additionally, heightened anticipation for the holiday season was evident through a 195% increase in searches for ‘party’ and a remarkable over 800% surge in searches for ‘gift guide’ compared to the corresponding period last year.
Net-a-Porter’s exceptional ability to analyze and utilize this valuable data allows the brand to stock the most sought-after products and maximize sales opportunities. By flawlessly understanding customer preferences, the luxury retailer ensures its customers can effortlessly purchase the products they covet, precisely when they desire them. The brand’s reliance on data-driven insights and trends has proven to be an incredibly successful strategy, further cementing Net-a-Porter’s position as an industry leader.
Useful links:
1. Business of Fashion – Inside Net-a-Porter Podcast
2. Retail Dive – Inside Net-a-Porter’s $100 million Tech Transformation
