The year so far has been challenging for many in the fashion retail sector, with ASOS recently announcing a long-term sales slump and highstreet retailers feeling the pinch of a spending decline driven by the cost of living crisis. But while online titans share news of turbulence and pessimistic outlooks, growing British fashion brand Blakely is cautiously celebratory about its growth as 2023 draws to a close.
After a 39.7% YOY revenue growth in the first half of 2023, Q3 has seen the brand’s most dramatic revenue uplift of the year so far – with a push for womenswear driving +189% YOY revenue increase between 1st July and 30th September. Earlier this year, a consumer spending report by Wunderkind highlighted 42% of shoppers planning to buy less but spend more per purchase in 2023, with the rising cost of living encouraging consumers to reassess the quality of the goods they invest in. Now, it seems that Blakely’s efforts to position itself as a higher-end option for lifestyle fashion have paid off.
“The cost of living crisis means that every purchase is more precious this year, with the public being able to afford less.” Blakely CEO Gareth Newman says. “Customers are purchasing with care and for us, success has meant focusing on driving a deeper connection between brand and buyer, in part by offering long-lasting products. We’re also big believers that every purchase should be rewarded by brands to retain their customers in the future.
“First time buyers are usually testing the water but once they have purchased and our post purchase journey starts, we often see return customers purchasing more expensive items and adding more to their bag. ”
Rhian Stuart, head of digital at Blakely, also credits the brand’s efforts to put shoppers front and centre of its marketing with helping to build that connection and drive this year’s growth.
“We’re seeing that UGC drives interactions and conversions on a much larger scale than branded content does in both paid and organic marketing channels.” Rhian notes. “Being able to incorporate the customer into the branding and allowing them to tell their story of the brand is a much bigger driver than we have ever seen before. As much as AI seems to be taking over, it’s important not to miss the “human connection” which makes brands relatable.“
As Blakely looks ahead to 2024, plans to make the most of the ongoing success include a new website – being developed to incorporate a greater amount of video and user-generated content – and a new yoga-centric activewear range.
To find out more, and see the brand’s current collections for yourself, visit https://blakelyclothing.com/
