Rag & Bone gets online boost with new technology investment
New York-based luxury fashion brand Rag & Bone is investing in its direct-to-consumer strategy with a new technology investment.
The technology by BounceX (soon to be Wunderkind), a behavioural marketing technology provider, helps boost onsite identification to improve targeting and drive revenues, via remarking strategies, according to the American fashion brand.
“BounceX’s key benefit is identification, which means we can remarket to shoppers in a relevant, personal, and timely way. Our volume of connections with our shoppers has gone way up because of the identification that BounceX brings to our online business,” explained Aaron Detrick, VP of digital at Rag & Bone.
“It helps us identify shoppers at a much higher rate and remarket to them with a higher volume of relevant digital touchpoints—drastically accelerating our digital and direct-to-consumer growth.”
In fact, the luxury fashion brand said it has been able to identify over 40 percent of its site traffic and send personalised triggered emails that help push shoppers down the conversion funnel.
The brand has equally been able to de-anonymise 35 percent of its site traffic, increasing triggered email traffic to their site by 3.7x, which has improved online conversions and enhanced performance.
Prior to BounceX, Rag & Bone said it turned to remarketing strategies, such as abandonment emails, as a cost effective way to convert customers. however, it saw just a 8 percent identification rate across its onsite traffic.
Founded in 2002, Rag & Bone operates 42 stores internationally, including three London-based outlets. It is also stocked across several UK luxury retailers, including Selfridges and Harrods, though it is now clearly eyeing a more direct-to-consumer strategy to connect with shoppers.
Earlier this month, the brand permanently laid off at least 70 employees. It remains one of many brands feeling the economic sting caused by the Covid-19 crisis.
Rag & Bone has also been without a chief executive officer since early 2019, when Stefanie Strack stepped down.
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