Kim Kardashian's @skims is making its biggest pivot yet: Adding menswear
And that reveals a fundamental difference to how men and women shop...
But first, some context: We are living in The Era of the Undergarment, the Age of Undies, The Underwear Economy.
There's been a surge in women’s underwear startups to fill the void left by #VictoriasSecret — As Victoria's thong-opoly ended, Skims pounced on the opportunity:
🩲 Kim K’s undergarment startup hit $4B valuation this year & plans to to #IPO
🩲 Sales have jumped 50% this year to $750M
🩲 Now Kim is going to boxers & briefs: Menswear (it's like Skims just added a Y chromosome)
But Skims faces 1 major challenge selling to men... Conversion Friction
The Takeaway →
Conversion Friction: It's harder to convince men to try new product than women.
🛍️ According to data from @junglescout about shopping online, men are 2X as likely to buy their current brand, not try new a new one.
🛍️ It’s not loyalty, it’s laziness: Guys don’t fix go-to brand if it ain't broke
🛍️ (Full Disclosure: Jack Crivici-Kramer's had the same deodorant brand for 8 years (#OldSpice) and I've had the same button-down shirts for the same time (#Octobre)
So it's harder for Skims to get Jack to switch from Hanes than it is to get Julie to switch from Victoria's Secret.
🤩 That’s why #Skims is using star athletes to sell boxers to men: Nick Bossa of the San Francisco 49ers and Brazilian soccer star Neymar.
To overcome men’s shopping laziness, @KimKardashian signed the same players from their fantasy football leagues.
Because of Conversion Friction: It's harder to convince men to try new product than women.
@jackkramer and I tossed on some bodysuits and whipped up the Skims story on today's @tboypod podcast 🩲🩲
#TheBestOneYet #TBOY #Podcasts #IYKYK
https://t.co/RQldtUx6sr
The ending of the book I just finished gives me all the feels. "In the darkness two shadows reaching through the hopeless, heavy dusk. Their hands meet and light spills out in flood like a hundred golden urns pouring out of the sun."
Despite my kids outgrowing this brand, I'm excited for them to open in my neck of the woods. And just in time for the holiday season. Toy brand Melissa & Doug plans first store https://t.co/aljyQiFiLN via @RetailDive
Social selling factory in Indonesia 🤯
This is UGC industrial mass production. This is a freaking factory.
Selling things online is changing so fast. Everything is changing so fast.
This is unreal
Vote for Jungle Scout to take the stage at SXSW 2024! Our session features CEO and founder Greg Mercer, exploring AI’s stronghold on the ecommerce industry and how brands can leverage the technology. Voting runs through Aug. 20. https://t.co/eDmofgBIJb