• For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
Facebook Twitter Instagram
Thursday, March 23
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook Twitter Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
WholesaleCentral.com Blog
Home»For Buyers»Marketing & Management»Saks 5th Ave. Execs Expound on Importance of Social Media
Marketing & Management

Saks 5th Ave. Execs Expound on Importance of Social Media

PublisherBy PublisherJanuary 13, 20102 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

For onlLuxury appareline retailers, it’s no longer enough to simply offer desired products at attractive prices. In this day and age of social media, it’s of paramount importance that businesses communicate and interact with their customers online. Its all about communication and innovation–such was the takeaway from a presentation by Tory Burch and Steve Sadove, Saks Fifth Avenue Chairman and CEO, at Retail’s BIG Show this week.

“The reality is, when there is innovation, consumers still want it,” said Sadove with regard to the struggle of apparel to compete for consumer attention during the current electronic gadget craze. “In the end, it’s about innovation and product. That’s what we need to keep vibrant.”

The discussion panel focused particularly on the importance of social media to retailers, as well as how to balance social media interaction with the customer’s need for privacy. If consumers have a love for a company’s product, Burch and Sadove explained, it could be in that company’s best interest to reciprocate that love. Sites like Facebook and Twitter allow business to have a stronger online presence than ever before, and to interact directly with customers both individually and as a group.

These sites can be used in addition to a company’s own website. They also allow users to generate their own content, which can then be put into action to benefit the company and its brand. Coca-Cola, as an extreme example, currently boasts a Facebook page with more than 4 million visitors—and the page itself is not even run by the company. Rather, it was created and is maintained by fans of Coca-Cola’s brand and products.

As a perfect example of the exciting new ways that social media have impacted the retail business, Burch stated that when she posted to Twitter in an airport recently about how much she hates taking off her shoes for security checks, and speculated about designing travel socks, she was flooded with positive responses from her Twitter followers. As a result of this exchange, Saks  plans on rolling out a line of travel socks by the end of the year.

social media
Share. Facebook Twitter Email
Previous ArticleMacy’s Announces Five Store Closings for 2010, Down from Last Year
Next Article Google Makes Waves with Its China Stance

Related Posts

Influencer Marketing Expected to Thrive in 2023

December 14, 2022

These Digital Trends Are Shaping 2023

December 1, 2022

Creating a Top Tier Loyalty Program

November 29, 2022
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Latest Posts

Amazon Return Pallets For Sale: How to Profit

March 20, 2023

2023 Wholesale Apparel Trends

March 14, 2023

Top Wholesale Easter Products

February 27, 2023

The Future of Sustainable Manufacturing is a Hybrid Approach

February 23, 2023

Make Money with Foreign-Trade Zones

February 22, 2023

Overstock Liquidations

January 25, 2023
how-to
Wholesale 101 for Buyers

Amazon Return Pallets For Sale: How to Profit

March 20, 202311 Mins Read

A big trend among some online sellers is buying Amazon return pallets and overstock and…

Product News

Overstock Liquidations

January 25, 20236 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

January 24, 202310 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

January 18, 20236 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.