Blakely revenues soar on demand by quality-focused customers

By

Nigel TAYLOR

Published
Nov 22, 2023

Blakely’s focus on catering to shoppers looking “to buy better” has resulted in “soaring” year-on-year first half revenue gains, the Norfolk-based lifestyle fashion retailer said.

H1 sales leapt 39.7% on the year “while major fashion retailers were sharing news of sales slumps and spending declines,” it noted.

And if you thought that half-year performance was good, its most recent quarter (Q3) has seen the brand’s “most dramatic revenue uplift of the year so far”, with a push for womenswear driving a 189% year-on-year revenue increase covering the 1 July-30 September period.

The “up-and-coming’ British brand credits reports of “shoppers looking to buy less and invest more in each purchase” as driving some of this success.

“It seems Blakely’s efforts to position itself as a higher-end option for lifestyle fashion [has] paid off”, it said.
 
CEO Gareth Newman added: “The cost-of-living crisis means that every purchase is more precious this year, with the public able to afford less. 
 
“Customers are purchasing with care and for us, success has meant focusing on driving a deeper connection between brand and buyer, in part by offering long-lasting products. We’re also big believers that every purchase should be rewarded by brands to retain their customers in the future.” 
 
He added: “First-time buyers are usually testing the water but once they have purchased and our post purchase journey starts, we often see return customers purchasing more expensive items and adding more to their bag. ”
 
As for marketing, Rhian Stuart, Head of Digital at Blakely, also said: “We’re seeing that [user generated content] drives interactions and conversions on a much larger scale than branded content does in both paid and organic marketing channels. 
 
“Being able to incorporate the customer into the branding and allowing them to tell their story of the brand is a much bigger driver than we have ever seen before. As much as AI seems to be taking over, it’s important not to miss the ‘human connection’, which makes brands relatable.” 
 
As Blakely looks to 2024, plans include launching a new website — developed to incorporate a greater amount of video and user-generated content — and a new yoga-centric activewear range.