3 minute read
Brand Health
In 2019 Daily Papers estimated revenue was £12.7 million (Growjo. com, 2019). This is a valuable figure for a brand with continued growth and expansion into new and current international markets. Through the development of their marketing and communication plans, this can be aligned with new marketing strategies to increase sales and strengthen global recognition. Fundamentally strengthening their positioning within the market and increase their market shares.
In an overly saturated market, brands like Daily Paper must have strong brand recognition and brand awareness. It is evident from the quantitative poll, that Daily Paper has a low brand awareness specific to the UK. As shown in appendix 1, only 33% of the respondents had heard of Daily Paper and only 8% of those respondents had purchased from Daily Paper. This highlights a clear missed opportunity in the UK. UK Consumers aren’t aware of Daily Paper, this could be due to their marketing strategies and reach within this particular country. To achieve higher percentages within their brand awareness and usage, they could consider creating more region-specific marketing techniques, particularly in the UK market.
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Brand Health
Daily Paper has previously made a mark within the UK, “following their dreams to become an international player, the streetwear brand launched their first ever UK pop-up in London.” (Appear here, n.d.). Daily Paper were initially unsure on the translation of their brand to a global audience but wanted to test out the expansion into a new market. The Shoreditch pop-up was very successful more than doubling their overall UK Sales (+300) and increased its UK online traffic by over +500%. Since the pop-up in 2018. Daily Paper used this success to launch within another geographical location; the US market with their flagship store and have ever since overlooked their UK market. There is a clear opportunity for Daily Paper to further its consumer base and strengthen its consumer loyalty within the UK market. This could be done through marketing mediums or a possible flagship store launch within the UK.
Their Afrocentric aesthetic is not only conveyed within their clothing, but it’s translated through their flagship stores too. “We grew from a local Amsterdam-based brand to being sold in 29 countries in over 200 multi-brand stores” (Daily Paper, n.d.). Daily Paper currently has two Flagship stores in Amsterdam and a newly opened store in New York City as a means to expand into the US market. Solidifying a strong consumer base has been imperative to the brands marketing strategy as their brand heavily evolves itself around their consumers.
Daily Paper applies a multichannel retailing method to their business strategy. In a bid to maximise sale profits and expand revenue retailers are now investing in multichannel capabilities (MacKenzie, Meyer and Noble, 2013). This enables brands like Daily Paper to meet modern expectations of consumer purchase. Daily Paper distributes its products through a range of different touchpoints to widen their approach to consumer reach. These touchpoints include their multi-e-commerce sites e.g., Selfridges, Harvey Nichols and Farfetch, including their website, their flagship and pop-up stores. Daily Papers traffic overview for their website shows they have an engagement total of 243.23K. The UK ranks second place for countries with the highest amount of traffic, holding 12.36% of total visits. Daily Paper should focus on retaining their credible bounce rate on their website, which is currently a rate of 32% (SimilarWeb, 2021).
+500%
Increase in UK visitors to Daily Paper website
Increase of UK sales
+300%
