Rebecca Minkoff is an American fashion brand that was founded by Rebecca Minkoff and Uri Minkoff in 2005 in New York City. The brand offers a wide range of products across various categories including shoes, handbags, clothing, accessories, and fragrances.
Based on the data obtained from SEMRush, the brand experiences organic traffic of 156k/month. Here are 6 Rebecca Minkoff business strategies we have identified that stores should emulate:
The "Compare At" Price is a product's original price on a product listing when it is on sale. Customers will see it crossed out next to the discounted price. This is an effective way to help customers highlight the difference between the current price and the original price, for easy calculation of the amount of savings they will be incurring.
Rebecca Minkoff displays Compare At Prices along with a "FINAL SALE” promotional notice above the product title on products that are on sale.
Here's a video on how to do it:
Even with proper inventory management, short gaps of stockouts are unavoidable. During these times, it's crucial to have a system in place to avoid losing profits. This is achievable with Back in Stock Alerts. It is a great way to recover potential lost revenue, and keep customers engaged with your brand.
Rebecca Minkoff uses back in stock alerts in a slightly different manner. Instead of customers getting notified when an out of stock item is back in stock, they get to join a waitlist to be notified of new product that are coming soon. This is another viable method to build email marketing list and gauge level of interest for the product.
Here are some videos on how you can make use of the tools effectively:
Rebecca Minkoff has a Sales collection page that highlights products being sold at a discounted price for people who wants to own a luxury brand at a lower price point. This is a good way to boost sales and clear slow moving stocks.
If you would like to implement this on your Shopify Store, you can use Konigle's Bulk Price Editor tool to add tags on discounted products as you edit prices and make them show up on the Sales Collection Page.
Here's a video on how you can use the Konigle Bulk Price Editor:
Referral marketing encourages existing customers to spread the word about your brand within their networks in exchange for rewards, such as discount vouchers. This is a powerful tactic because it leverages your company's existing customer base to generate new leads and customers.
Rebecca Minkoff has a referral program that incentivises their customers by offering a discount of $25 to both the referrer and referee making it a win-win situation for all parties involved.
RM Rewards is a membership program where customers can earn points by completing certain actions like creating an account or purchasing. These points can then be redeemed into rewards credit which is applied as a discount at checkout.
This is a successful loyalty building strategy that e-commerce stores should adopt. It encourages customers to keep purchasing hence contributing to increased profits and strengthened brand loyalty.
Want to adopt this loyalty building tactic? Do so by rewarding your loyal customers when you create customer based price rules with Konigle's Customer Based Pricing tool.
Find out more on how you can do it here!
Pop-ups if done correctly can help expand subscriber list and increase revenue.
Rebecca Minkoff uses entry pop ups as an attention grabber to get new visitors to subscribe to their email marketing list in exchange for 15% off their first order. A countdown timer has also been added as way to induce FOMO. In e-commerce, conversions is king and this is a good way to increase conversions from first time visitors.