Hey DTC Pod listeners! We're back with our weekly podcast. On today's episode, we'll be talking with Meghana Dhar, a former executive at Snap, Meta, and eBay, about:
"Jobs to be done" & social media platforms
Instagram's shift from shopping
The potential of social commerce and monetizing creators.
Whether you're a creator, investor, or entrepreneur, you’re going to love this edition 🏻
Plus, the week's top DTC scoops and a must-attend event. Dive in, share your thoughts, and reach out anytime.
This Week’s DTC Pod Guest
#291 - Social, Creators, & Future of Digital Commerce
Meghana Dhar is a tech advisor and investor specializing in social commerce and brand partnerships. With a start at Ebay and a role advising the CEO during PayPal's spin-off, she later led shopping partnerships at Instagram and served as global head of partnerships at Snap. Meghana continues to apply her expertise to innovate in the tech and commerce sectors.
This week, we're highlighting news from the DTC space that you might have missed amid the major headlines
Lululemon and Peloton forge a dynamic five-year global partnership, intertwining fitness content and athletic apparel. Lululemon will cease selling its Studio Mirror, shifting focus to exclusive digital fitness content, while Peloton embraces Lululemon as its primary athletic apparel partner. Discover how this alliance reshapes experiential retail and augments the wellness journey for their communities around the globe. 🌐 Dive deeper into this strategic synergy and explore the expansive offerings awaiting fitness enthusiasts! (link)
Amazon launches a virtual merch store for its original series 'Gen V', letting Prime Video viewers shop items seen in the show. The retailer created an immersive shopping experience tied to the superhero series through a Virtual Campus Tour and Campus Store. Users can explore the fictional Godolkin University campus, click on dorm rooms and other locations, watch videos, and view superhero statues.
This hints that Amazon may offer more immersive shopping experiences tied to its original content beyond just 'Gen V'. The move follows other streamers like Netflix that have merchandising arms to sell products from popular shows. While Amazon's new shop is only available on the web currently, it represents the company's first effort to directly integrate merchandising and shopping into its Prime Video platform. Read more here.
👉🏻 Square Enters Cannabis Market
Payments firm Square partners with cannabis e-commerce platform Jane Technologies to provide an online store option for licensed cannabis retailers in Canada using Square's POS system. Jane allows dispensaries using Square to supplement their in-store sales with an online store where customers can browse updated menus and order products for delivery or pickup.
This is seen as a major step in Square and Jane's goal of providing better omnichannel commerce solutions for Canada's growing recreational cannabis industry. Square also announced an Early Access Program for authorized cannabis sellers in Ontario to test Square's retail POS solution and integrated payments ahead of a wider launch. Get the scoop here
👉🏻 H&M start charging for returns
Fast fashion retailer H&M has eliminated free returns for online purchases in the UK, where customers will now be charged £1.99 for sending back parcel or in-store returns. However, members of H&M's free customer loyalty program are exempt from the new fee. The move aims to cut costs as shipping expenses have risen.
H&M joins other retailers like Zara and Uniqlo that are reevaluating generous return policies, which can be expensive given industry average return rates of 20-30% for online fashion orders. The increasing shift toward charging return fees signals that directly offsetting logistics costs through fees may be the most effective approach for retailers. Read more here.
👉🏻 Prime Day Strikes Again (3 minute read)
Amazon confirms its Prime member-exclusive Big Deal Days sale will run for 48 hours starting October 10, positioning it as a kickoff to holiday shopping with deals across categories. (link)
👉🏻 Instacart's Rocky IPO (3 minute read)
On-demand grocery delivery firm Instacart went public at a $9.9 billion valuation, down from nearly $40 billion last year. It generated a profit in 2022 after losses in 2021. (link)
👉🏻 TikTok Marketing Pro Tips (7 minute read)
TikTok marketing pros share tips like taking a holistic view of success, having a learning ramp-up phase, surveying customers, targeting high-intent users, and finding knowledgeable partners to get the most out of the platform. (link)
👉🏻 How Is Temu So Cheap? (6 minute read)
New fast fashion marketplace Temu offers ultra-low prices by connecting consumers directly with manufacturers, driving volume with deep discounts, exploiting a trade loophole, and selling unbranded wares. How? (link)