Prior to the pandemic and most certainly during it we saw several high profile retail stalwarts hit the terminal buffers.

One of the highest profile retailers was to be Philip Green’s Arcadia empire which fell into administration in November 2020 owing creditors hundreds of millions of pounds and threatening more than 13,000 jobs.  

'Social Media' can be a life saver for brands if they understand that social media is about being social first, and selling second. The cost don't increase because being social means you measure 'engagement' over reach. 

You don't need a database, so no GDPR issues, if you operate an 'employee advocacy' strategy your outsourced 'social agency' could pretty much become redundant.

So, what does this tell us about the power of influencers?

In February 2021 ASOS bought the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of Philip Green’s collapsed Arcadia group.

"The deal was reputed to be worth £265 million for Arcadia’s prized brands and will be fully funded from cash reserves, does not include its stores, putting thousands of jobs at risk".

Fast fashion retailers enjoyed rapid growth during the pandemic when shoppers were forced to shop online and were saving money usually spent on commuting, travel and restaurants. However, those same companies have struggled as physical stores reopened and inflation put pressure on consumer finances.

Back then the BBC had just published an interesting article about 'Top Shop' having spoken to a few ardent Arcadia customers;

Ms Armstrong is a typical consumer, someone who used to shop there often, but has since moved onto other brands. She says that people younger than her don't see Topshop's styles as being "on trend".

"What's in style right now is streetwear, and Topshop hasn't got much of that," 

Statistics show that people trust the recommendations of an influencer they follow more than any other form of advertising. 

In fact, 70% of millennial consumers are influenced by the recommendations of their peers in buying decisions, and 30% of consumers are more likely to buy a product recommended by a non-celebrity blogger. Why?

Consumers want to hear from other consumers. This is largely due to their trustworthiness, their relatability and the fact that their followers value their opinion more highly than a celebrity or brand.

And what makes these 'influencers' really stand out?

They engage, and listen to what's being said, so if the aggregated effect of influencers helps you to grow your sales the same aggregated idea that you can 'return stuff for free' and get your refund (even if you've already worn it) can be just as powerful.

Which is why every brand needs to become a 'listening' brand.