Warby Parker cuts marketing spend, sees more profit

Author

Stephen Babcock
March 09, 2023

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Warby Parker pioneered many of the DTC marketing tactics used today to drive growth. Now, it is applying them to increase profitability. The eyewear brand reduced marketing spend back to pre-pandemic levels in 2022, and realized revenue growth and lower CACs as a result. Alongside a focus on what works, Warby’s physical stores play an important role in its marketing strategy for this decade.

Walmart sees ecommerce as a profit driver. High-margin marketplace businesses like retail media and logistics for third-party sellers will help make the retailer “much less dependent” on in-store sales for profit, CFO John David Rainey said this week. "The common thread through all of them is a greater digital engagement with our consumer,” Rainey said. –Reuters

A study from NewStore found that Italy was tops for omnichannel adoption, coming in ahead of the U.S. In particular, Europe is pushing ahead by embracing mobile shopping apps and payment innovation that are still slower to arrive in North America. But lightweight advances like Tap to Pay on iPhone could provide an opportunity to leap forward.

As retail media grows, brands and agencies can benefit from tools that allow easy access to the features that can help them manage and improve campaigns. Best Buy is aiming to provide this with a new self-serve platform that provides capabilities to purchase, plan, view and manage ads that run within the consumer electronics retailer's ecommerce marketplace.

Hershey’s latest product releases feature oat milk chocolate. The confectionery company is rolling out a plant-based sea salt and almond bar and Reese’s Peanut Butter cups for spring that are designed to appeal to vegans and consumers seeking non-dairy alternatives. It’s a move to continue to diversify Hershey’s offerings in line with customer tastes. –Progressive Grocer

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