Do you know the position of your e-retail brand in the market? Where does your brand stand in comparison to others? Do you have the necessary data to enlighten you on your competitors’ tactics and strategies?
Continuing on this mini blog series, we’ve already portrayed the rankings of selected brands from various segments: high-street, premium, and outdoor fashion, among others. Following the buzz that Black Friday generated worldwide, it’s important to look back to assess your e-retail brand performance. After all, to make the most of key dates across the year, knowing where your brand stands in this competitive market is an asset. Start taking better PR and marketing initiatives supported by reliable data analytics that can help you benchmark your brand and your competitors.
In this article you’ll learn…
The pandemic on the whole was far from a beneficial occurrence, but it did give brands an opportunity to successfully grow their e-commerce platforms. Once it started fizzling out, the question of whether e-retailers would remain as popular for most consumers was put on the table. And well, the growth in the last two years did slow down. But, as demonstrated by Adobe, online sales still topped expectations with $9.1B in 2022. To give you an overview of the current landscape, we benchmarked the performance of ten brands in the e-retail sector. Thanks to our proprietary algorithm, Media Impact Value™ (MIV®), we could measure and benchmark the impact of all media placements and mentions across different Voices during a selected period.
What are the 10 E-Retailers we Selected?
For this competitive benchmarking report, we analyzed the MIV® data in November 2022, for the following ten e-retailers:
- Revolve Clothing
- Moda Operandi
The infographic below displays the number of placements each of the ten brands had in November 2022. These placements factor in social media posts, articles pertaining to specific search queries. Additionally, it takes into account interactions consumers made with the posts such as tags and comments. Lastly, it illustrates the growth of the brand in comparison to the previous month.
Voice Mix Benchmark for the E-Retailers
This infographic represents the Voice Mix Benchmark by MIV® for the ten e-retailers.
The Voice Mix is a metric that provides the percentage of each of the five Voices that consumers are exposed. They are: Media, Influencers, Celebrities, Partners, and Owned Media. The rate is based on the total MIV®, which each Voice generated for the e-retail brands. An awareness of this Voice Mix gives brands a better strategic understanding of the best tactics for themselves or their competitors.
Read on to find out more about the competitive benchmarking and analysis of the top five performing brands of this e-retail brands ranking.
Coming in at the top, the best-performing e-retail brand in November 2022 was Asos. Renowned for being one of the most popular fashion stores online, the brand garnered $42.6M in MIV® across 9.5K placements.
From the Voice Mix, we note that Asos’ success is mainly due to its Media Voice with $21.2M in MIV®. Moreover, three of the top five Voices for Asos are not only Media but also localized in the United Kingdom. In terms of accumulated MIV®, The Sun (GB) garnered $1.7M, HELLO! (GB) garnered $1.2M, and Glamour (GB) garnered $737K. Each of these Voices can also attribute the majority of the MIV® they generated to Online Media.
Generally-speaking, Media might be the most prominent Voice when looking at the overview. However, when you dive deeper into the insights, Owned Media is the most successful Voice in terms of MIV® per placement. The brand’s Owned Media Voice garnered $12.6M across only 795 placements, that’s $15.8K MIV® per placement. Furthermore, the key Voice overall for Asos is its very own worldwide Asos account. The brand’s top placements on Instagram generated $11.8M MIV® overall.
In second place, Revolve accumulated $22.2M in MIV® across 3.9K placements. The brand’s success is mainly centered around the Americas and the EMEA and not as much in the APAC region which only accounts for $1.2M in MIV®.
This can be explained by Revolve’s successful leverage of the Influencer Voice. By partnering with Western Influencers, the brand widens its reach in specific markets. It doesn’t have as much of a pull in the East, as it doesn’t tap as much into the influence of Key Opinion Leaders (KOLs). Nevertheless, it’s the only brand in this ranking that has a more significant amount of MIV® generated from the Influencer Voice and not as much from the Media Voice. After all, the Influencer Voice generated $12.4M in MIV® across 1.8K placements and the Media Voice accumulated $5.1M in MIV® across approximately the same amount of placements.
Diving deeper into the best-performing placements for Revolve, posts by Influencers are the most impactful and demonstrate the most engagement. Notably, Charly Jordan is the top Influencer for the brand, having garnered $718K in MIV® across only four placements on Instagram and TikTok in November 2022.
With an overall MIV® of $19.0M in MIV® across 6.2K placements, Net-à-Porter comes in third place in our e-retail ranking.
Similarly to Asos, Net-à-Porter strongly leverages the Media Voice with a significant presence within the US and UK. The brand’s key Media Voices, which on the whole accounts for 81% or $15.4M of its overall MIV®, comprises: Vogue (US) with $2.6M in MIV®, HELLO! (GB) with $874K in MIV®, Harper’s Bazaar (US) with $736K in MIV®, and Vogue (UK) with $533K in MIV® amongst others. In parallel to this, the brand’s performance is linked to the Online Media Channel coverage which represents 64% and $12.2M in MIV®.
Though Net-à-Porter’s MIV® mainly comes from its Media Voice, its top placements predominantly come from the Influencer and Celebrity Voices. Even its best Owned Media Youtube placement demonstrates a profitable rendition of a cross-Voice Influencer and Owned Media strategy as it features the notable Influencer Emma Chamberlain.
Zalando is the fourth-best-performing e-retailers in our ranking by MIV®. With $18.8M in MIV® across 7.8K placements, Zalando demonstrated a performance growth of 27% in comparison to October— a noteworthy increase.
Where Asos and Net-à-Porter tap more into the Media Voice and Revolve leverages the Influencer Voice the most, Zalando reaps the success of both. Simply looking at the Voice Mix, the Media Voice takes up 54% with $10.1M in MIV® across 6.0K placements and the Influencer Voice takes up 34% with $6.5M in MIV® across 970 placements. Likewise in terms of Channel, the split is almost completely evenly distributed if we don’t take into account print editorial; with the Social Channel having accumulated $9.0M in MIV® and the Online Channel having gathered $8.2M in MIV®.
Once again, when looking at the top-performing placements, the Influencer Voice takes the reigns. The top placement for the brand is an Instagram post by the french Youtube star Theodort which generated $288K in MIV®. Furthermore, in the top ten placements for Zalando in November 2022, eight are from the Influencer Voice and two are from the Celebrity Voice. Additionally, almost all of the aforementioned placements are on Instagram.
Lastly, coming in fifth place in this e-retail ranking for November 2022 is Farfetch. The brand collected a total of $18.3M in MIV® across 6.5K placements.
Looking at the Voice Mix, the Media Voice amassed $10.3M in MIV®— more than half of the brand’s overall MIV® generated. However, looking at the key Voices, the top ten Voices are evenly spread out between Owned Media, Celebrity, Media, and Influencer Voices. These Voices are mostly present across multiple Channels and the split between Online and Social is again very evenly distributed.
An interesting feature regarding Farfetch’s brand performance is the prominent success of the Youtube Channel. This success is thanks to Youtuber Giovanna Ewbank’s video which are at the top of the placements for the brand. Generating $534K in MIV® across six different Youtube placements, she’s the second most prominent Voice for the brand.
How to Benchmark your E-retail Brand
This insight aims to help you gain more awareness about successful marketing strategies. It also demonstrates tactics some of the best e-retailers use to optimize their brand performance.
Do you want to learn more about your brand’s position? How it compares to your competitors? For that, you need a deeper dive into your brand’s performance analytics. This tailored data will help you measure your campaigns’ effectiveness. All by analyzing each Voice and Channel’s performance and benchmark your key results against your competitors.
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