Retail Remix
· with Kristy Westrup
· May 20, 2024
· 33 min
Summary
IPSY revolutionizes the subscription model by integrating content, community, and exclusive product access beyond mere monetary perks. This episode, featuring IPSY's Chief Merchandising Officer Kristy Westrup, reveals their process of testing over 8,000 products annually. It highlights the crucial collaboration between merchandising and marketing, data-driven trend analysis, and continuous customer feedback integration to drive acquisition, retention, and brand expansion.
Key takeaways
Implement a robust product testing and curation process, like IPSY's 8,000 products annually, to ensure a highly relevant and desirable assortment for members.
Foster deep collaboration between merchandising and marketing teams to create compelling content that drives both member acquisition and long-term retention.
Establish a continuous feedback loop using social media insights and direct customer input to stay ahead of trends and inform product assortment evolution and new category expansion.
Move beyond transactional benefits in membership models by integrating community, exclusive access, and engaging content to build stronger customer loyalty and perceived value.
We’ve all heard about subscription models that give customers monetary perks in exchange for recurring purchases. But brands like IPSY are elevating this concept by integrating compelling content, community and exclusive access to products. IPSY’s merchandising team plays a central role in bringing the brand promise to life. Led by Chief Merchandising Officer Kristy Westrup, the merch division tests more than 8,000 products per year to curate the best assortment for customers. During this week’s Retail Remix, we dig into this process, as well as: How merchandising collaborates with marketing to create compelling content that drives member acquisition and retention; How the team applies social media insights and other data points to constantly keep a pulse on what’s trending; andHow the team integrates customer feedback consistently to refine assortment and expand into new brands and categories.RELATED LINKSLearn more about IPSYRead how other companies are reimagining subscription commerceConnect with Kristy on LinkedInKristy’s colleagues from IPSY will dig deeper into the brand’s membership model during the Retail Innovation Conference & Expo. Click here to get your ticket and get more tactical tips from her and other forward-thinking executives!]]>
Frequently asked about this episode
What does this episode say about customer retention?
Implement a robust product testing and curation process, like IPSY's 8,000 products annually, to ensure a highly relevant and desirable assortment for members.
What does this episode say about subscriptions & ltv?
Foster deep collaboration between merchandising and marketing teams to create compelling content that drives both member acquisition and long-term retention.
What does this episode say about product & merchandising?
Establish a continuous feedback loop using social media insights and direct customer input to stay ahead of trends and inform product assortment evolution and new category expansion.
What does this episode say about brand & content?
Move beyond transactional benefits in membership models by integrating community, exclusive access, and engaging content to build stronger customer loyalty and perceived value.
