Why Women Are the New Focus for Big Retailers
A Strategic Shift to Boost Sales and Build Community
The Power of Women Shoppers
True Religion, a denim brand that was huge in the 2000s, is now putting a lot of effort into winning over women shoppers. The brand's marketing chief, Kristen D’Arcy, points out that women have a lot of buying power and are often very loyal to brands they love.
Current and Future Sales
- Current Sales: Women make up about 29% of True Religion's sales.
- Goal: The brand aims to boost that to 43% by 2025.
- Target Audience: Not just women buying for themselves, but also those shopping for men.
The Comeback Plan
This focus on women is part of True Religion's plan to make a comeback. After going bankrupt in 2017, the brand brought back its famous "U" logo, which was a big part of its identity. This move seems to be working, as the brand is now popular with people aged 25 to 45, especially athletes and musicians. Even Timothée Chalamet has been spotted wearing True Religion jeans.
The Broader Market Trend
True Religion is not alone in targeting women. Many retailers are realizing that women are a powerful force in the market. Women often make the majority of purchasing decisions in households and are more likely to try new brands and products. This makes them a valuable target for retailers looking to grow their business.
Financial Goals and Strategies
- Current Valuation: The brand is currently worth around $450 million.
- Sales Goal: They aim to reach $1 billion in sales.
- Strategy: Doubling down on their women's line.
Building a Loyal Community
True Religion's focus on women is not just about sales. It's also about building a community around the brand. By targeting women, the brand can create a loyal customer base that will continue to support them in the long run. This is a smart move for any retailer looking to grow and succeed in today's competitive market.
