Dan Hesse
Dan Hesse
Daniel R. Hesseis the former chief executive officer of Sprint Corporation...
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It is a good thing for Victoria's Secret and Limited in general. The cachet behind this brand is as important as the brand itself. Having the event as they enter the most important part of the year is going to help Victoria's Secret.
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The simple fact is big budgets and optimization of search technology tend to win the battle.
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Last year, online retail totaled over $65 billion, up 26% over the prior year. That doesn't include auctions and travel, which take the number well over $100 billion.
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This is one of what we hope is many steps that attempt to turn around the brand. It has to start with the product.
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Certainly, in the same way the Web has leveled the playing field for businesses of all sizes to compete, search has taken that one step further. It allows Mom and Pops to get that much closer to shoppers they wouldn't ordinarily come into contact with.
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The biggest surprise to us this year was the late-season surge in the week before Christmas. This occurred at a time when we usually see a pronounced drop-off in purchases. Instead, we saw a 57 percent growth surge driven by people buying online and picking up in stores as well as the commitment by online merchants to deliver in time.
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While it's clear that a broad range of online merchants saw a strong season, multi-channel retailers were standouts this year. Many of the nation's leading retail brands flexed their muscle this season, with strategies including faster delivery options, significant site redesigns and effective cross-channel promotions.
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We are entering into a big denim cycle and it's the most important for the back-to-school and teen sectors. The floors are loaded with denim and we expect it be a big area in focus through the end of summer.
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We think customers who are spending forty or fifty dollars a month now will move up to the eighty-to-ninety dollar range and use this as their (main) phone.