Target (NYSE:TGT) has a long history of designer partnerships, and its latest with Marimekko has boosted the retailer's online market share, besting competitors and capturing more of its target customer.
The Marimekko collection launched April 17 and increased the company's online market share by 10 percent, topping competitors for a full week, according to a new report from Slice Intelligence. Marimekko purchases accounted for a staggering 21 percent of Target's online revenue during this time.
Marimekko was second only to Target's Lilly Pulitzer 2015 collection. For the first week of that sale, one-third of Target's dollars came from the designer's buyers (Slice began tracking after the retailer's Missoni collection in 2011). The Lilly Pulitzer launch yielded 41 percent more sales than Marimekko, according to Slice.
The Marimekko launch was more tame than Lilly Pulitzer, but it's catching up fast. Just a few weeks after the launch, Marimekko sales have nearly matched that of Liz Lange, a house brand available at Target since 2002.
These designer partnerships are bringing new shoppers to Target. Close to half of Lilly Pulitzer buyers were new to the brand and roughly 38 percent of those buying the Marimekko line are first-time Target shoppers.
Slice gets its data from e-receipts – not apps or software installed by the end-user – so its measurement reflects comprehensive shopping behavior across multiple devices over time, according to the company.
- see this Slice Intelligence report