Trina Turk discusses how the COVID-19 pandemic forced her fashion label to rapidly accelerate its e-commerce strategy, aiming to increase online sales from 15% to over 50%. The episode explores managing excess inventory from department store shutdowns and leveraging digital tools like Zoom for client meetings to adapt to the new retail landscape. It provides a direct look at how a established brand pivots under pressure.
Key takeaways
Prioritize and aggressively invest in your e-commerce channel, even if traditionally strong in brick-and-mortar. Trina Turk aims to shift from 15% to 50%+ e-commerce sales post-pandemic.
Actively manage relationships with traditional retail partners to mitigate inventory overflow and financial strain during market disruptions. Proactive communication and negotiation are key.
Explore and implement digital tools for customer engagement and sales, such as Zoom for client meetings, to maintain connections and drive revenue in a remote-first environment.
Be prepared to re-evaluate and adapt your business model quickly in response to external crises, focusing on agile strategies for sales channels, inventory, and operations.
Plan for strategic re-hiring and diversity initiatives post-crisis, even after layoffs, to build a stronger and more resilient team for future growth.
Before the coronavirus pandemic, Trina Turk's self-named fashion label made 15% of its sales through e-commerce.
But with Neiman Marcus' filing for bankruptcy in May and an ongoing lack of foot traffic at mall stores, Turk ideally wants that percentage raised to 50% or more.
"If they weren't shopping online prior to this whole thing, they are jumping online now," Turk said about shoppers on the Glossy Podcast. "I don't think we're alone in really examining how we can pivot our business to be much more e-comm-focused.
Turk talked about managing her relationship with department stores to minimize the excess inventory brought about by the global retail shutdown, exploring the potential of client meetings done via Zoom and hiring more diversely once the company recovers from its layoffs and hiring freeze.
Prioritize and aggressively invest in your e-commerce channel, even if traditionally strong in brick-and-mortar. Trina Turk aims to shift from 15% to 50%+ e-commerce sales post-pandemic.
What does this episode say about retail & omnichannel?
Actively manage relationships with traditional retail partners to mitigate inventory overflow and financial strain during market disruptions. Proactive communication and negotiation are key.
What does this episode say about supply chain & operations?
Explore and implement digital tools for customer engagement and sales, such as Zoom for client meetings, to maintain connections and drive revenue in a remote-first environment.
What does this episode say about founder & leadership?
Be prepared to re-evaluate and adapt your business model quickly in response to external crises, focusing on agile strategies for sales channels, inventory, and operations.
What does this episode say about dtc strategy?
Plan for strategic re-hiring and diversity initiatives post-crisis, even after layoffs, to build a stronger and more resilient team for future growth.
