Performance Marketing Drives Online Fashion Retail Growth
A report by the Interactive Media in Retail Group (IMRG) shows that the online fashion retail industry experienced tremendous growth from 2001-2011 – over 2000 percent – which affiliate network buy.at is attributing to "a steady increase in the number of fashion retailers integrating affiliate campaigns into their online marketing strategies."
In addition to the industry's impressive increases over the decade, data shows that online retail sales in the U.S. grew 12.6 percent (to $176.2 billion) in 2010; experts are predicting the market to get as high as $278.9 billion in the next three to four years.
buy.at says many of these major fashion brands have turned to performance-based marketing to increase brand awareness, acquire new customers and generate additional revenue. Among the many new advertising techniques that have helped accelerate the industry's success is the popularization of new shopping models, namely flash sales and group-buying services.
Some of the brands jumping on board the affiliate marketing bandwagon include British fashion companies Accessorize and T.M. Lewin, Lindsay Phillips, STYLEBOP.com and The Hip Chick.
The online fashion affiliate market's predicted growth is due in large part to the increasingly popular practice of fashion blogging and the number of bloggers who are seeking, and will seek, to monetize their blogs' content.
"As the online fashion retail sector continues to see exponential growth, and more retailers turn to performance marketing, it becomes increasingly important for advertisers to stay ahead of the curve through the implementation of strategic campaigns and future planning," says buy.at's U.S. Head of Sales Nick Cartwright. "Leveraging the experience and expertise of network partners will help propel their affiliate programs and drive their online business through 2012."