Austin, Texas, June 24, 2021 / PRNewswire / – Digital Brands Group, Inc. (“DBG”) (NASDAQ: DBGI), a curated collection of luxury lifestyle and digital-first brands, announced today that it has launched its already extensive e-commerce Ecosystem by launching a select group of brands on Amazon this fall.
As the pandemic shifted more online shopping, Amazon overtook Walmart as the top apparel seller, according to a report by Wells Fargo in March. Fountain Fargo estimates that Amazon apparel and footwear sales in the US will increase by around 15% to more than. has risen $ 41 billion, which is 20 to 25% above rival Walmart.
According to a 2020 report by VentureBeat, the most popular purchase categories for Amazon Prime shoppers in the US are electronics, apparel, and household and kitchen items. According to a September 2018 According to a report by Retail Dive, Amazon product searches for women’s clothing had a 42% market share.
Laura Dowling, DBG’s Chief Marketing Officer, said, “Amazon is adding an additional customer acquisition channel to our marketing strategy. We have reviewed data from several apparel brands that have used the Amazon marketplace and we appreciate the opportunity this channel adds to our customer acquisition and branding. “Awareness.”
DBG is excited to enter into an agreement with a marketing services company specializing in Amazon advertising that we believe will quickly and effectively generate additional brand awareness and customer acquisition. The company has a tactical plan for expansion on Amazon, with the ultimate goal of becoming a fully interactive custom DBG store with exclusive content in the near future.
“Amazon is great fun in retail, no matter what category you’re in. Having a well-designed, high-traffic presence on the platform is imperative for any brand to increase brand awareness and drive sales both through the platform and on others to channel the bottom line. ” Said Laura Dowling. “Our data gives DBG great confidence that we can achieve above average conversion rates compared to industry standards at customer acquisition costs. We look forward to releasing the results of this project in the coming months.”
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Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements are based on our expectations and beliefs about future events that will affect DBG and therefore involve various risks and uncertainties. You can identify these statements by using words such as “will”, “anticipate”, “estimate”, “expect”, “should” and “may” as well as other words and expressions with similar meanings or future use in the absence of these However, words or similar expressions do not mean that any statement is not forward-looking. All statements regarding the plans, goals, forecasts and expectations of DBG with regard to the business activities or the financial performance of DBG as well as the associated assumptions are forward-looking statements. We caution you that forward-looking statements are not guarantees and that actual results may differ materially from those expressed or implied in the forward-looking statements. DBG does not undertake any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or for any other reason, unless this is required by law. Potential risks and uncertainties that could cause actual results of operations or the financial position of DBG to differ materially from those expressed or implied in forward-looking statements include, among others: Risks arising from the widespread outbreak of a disease or other communicable diseases or other public health crises, including the global coronavirus (COVID-19) pandemic; the level of consumer demand for clothing and accessories; Disruption of the DBG’s sales system; the financial strength of DBG’s customers; Fluctuations in the price, availability and quality of raw materials and contract products; Disruption and volatility in global capital and credit markets; DBG’s response to changing fashion trends, developing consumer preferences and changing patterns of consumer behavior; intense competition from online retailers; Manufacturing and product innovation; increasing pressure on margins; DBG’s ability to execute its business strategy; DBG’s ability to expand its wholesale and direct customer business; Changes and challenges in retail; the ability of DBG and its providers to maintain the strength and security of information technology systems; the risk that the facilities and systems of DBG and those of our third-party providers are susceptible to data security breaches and data or financial losses and cannot foresee or detect these; DBG’s ability to properly collect, use, manage and secure consumer and employee data; Stability of the production facilities of DBG and foreign suppliers; continued use of ethical business practices by DBG suppliers; DBG’s ability to accurately predict demand for products; Continuity of the members of the DBG management; DBG’s ability to protect trademarks and other intellectual property rights; possible impairment of goodwill and other assets; DBG’s ability to conduct and integrate acquisitions; Changes in tax laws and liabilities; legal, regulatory, political and economic risks; adverse or unexpected weather conditions; DBG’s indebtedness and its ability to obtain financing on favorable terms if necessary could prevent DBG from meeting its financial obligations; and climate change and an increased focus on sustainability issues. Additional information about potential factors that could affect DBG’s financial results are included from time to time in DBG’s public reports filed with the SEC, including DBG’s Annual Report on Form 10-K and Quarterly Reports on Form 10- Q and Forms 8-K filed or filed with the SEC.
About the Digital Brands Group
We offer a wide range of clothing through numerous brands, both direct to consumers and wholesalers. We have developed a business model that was derived from our establishment as a Digital Native First Vertical Brand. Digital Native First Brands are brands that were founded as e-commerce-driven businesses where online sales make up a significant portion of net sales, although they often later expand into wholesale or direct retail channels as well, as opposed to typical e-commerce Brands As a digital native vertical brand, we manage our own sales, purchase products directly from our third-party manufacturers and sell them directly to end consumers. We focus on owning the customer’s “closet share” by using their data and purchase history to create personalized targeted content and search for that specific customer cohort. We have strategically evolved into an omnichannel brand that offers these styles and content not only online but also in select wholesale and retail stores. We believe this approach gives us opportunities to successfully increase Lifetime Value (“LTV”) while increasing new customer growth.
Digital Brands Group, Inc. Contact the company
Hil Davis, CEO
Email: invest@digitalbrandsgroup.co
Phone: (800) 593-1047
SOURCE Digital Brands Group, Inc.
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SOURCE Digital Brands Group, Inc.