Nogin (NASDAQ: NOGN), a leading provider of innovative Commerce-as-a-Service (“CaaS”) technology, today announced that Kenneth Cole, a leading American fashion house, is working with Nogin to drive higher sales and boost margins. During the 2022 holiday season, Nogin and Kenneth Cole’s partnership led to particularly exceptional sales performance, with the fashion retailer exceeding its forecasts on each day of Cyber Week, achieving as much as 102% and 117% overperformance on Black Friday and Cyber Monday, respectively.
Nogin’s full-stack ecommerce solution delivers market-leading ecommerce technology without the cost, complexity, time and risk of moving to a legacy enterprise platform. For brands using the Shopify Plus platform, Nogin’s technology embraces and extends Shopify’s existing promotional capabilities and insightful reporting metrics. Since partnering with Nogin in late 2021, Kenneth Cole has used Nogin’s planning, merchandising and promotional tools and strategies to enhance its sales growth and improve profits.
Specifically, Nogin developed and executed a discount methodology built on a smart cadence, offering category-specific sales during seasonally relevant times, sitewide sales during holidays, and the largest sales of the year during Black Friday and Cyber Week. Also, Nogin helped the company put out consistent communications to keep customers engaged and connected to the brand and executed a paid media strategy to acquire customers in Q2 and Q3 leading up to the holiday season.
In addition, amidst an uncertain market environment and as many companies shifted to prioritizing their gross margins, Nogin’s technology helped optimize conversion rates and maximize profits for Kenneth Cole. Nogin delivered a custom personalization strategy across the Kenneth Cole website, targeting different consumer segments, such as first-time and repeat buyers, with the correct offers and discounts to drive sales. Also, Nogin’s unified merchandising and returns capabilities helped drive time and cost efficiencies to further boost margins.
In all, while leveraging the power of intelligent, enterprise-class ecommerce technology backed by Nogin’s team of ecommerce experts, Kenneth Cole reduced its P&L risk and significantly scaled its online business. Through its partnership with Nogin, Kenneth Cole achieved notable milestones, including:
- 29% conversion rate (CVR) increase and 27% gross merchandise value (GMV) increase year-over-year due to Nogin’s technology and management of Kenneth Cole’s performance and retention marketing
- Up to 172% CVR increase for high traffic pages due to AI automated merchandising rules
- 52% CVR increase on product pages due to customer personalization, including displaying products specifically available in the user’s size
- Product add-ons increased units per transaction by 1 and had a 4.3% CVR
- Exceptional Cyber Week performance, beating forecasts by 82%, with a nearly 29% CVR improvement.
- Outperformed Black Friday goals by over 102% and Cyber Monday goals by over 117%
“We are thrilled with the success we’ve seen while using Nogin’s commerce platform, particularly throughout our Cyber Week sales this year,” said Jed Berger, President of Kenneth Cole Productions. “With Nogin, we significantly outpaced our holiday direct-to-consumer sales goals, ending the year on a high fiscal note and setting ourselves up for a strong 2023. Nogin’s intelligent technology and expert teams supercharged our ecommerce abilities and allowed us to elevate our user shopping experience and brand, all while maximizing our bottom line.”
“As the direct-to-consumer landscape becomes increasingly competitive, brands need intelligent strategies to attract, convert and retain consumers, while still optimizing growth,” said Jonathan Huberman, Nogin President and CEO. “In working with Kenneth Cole, our smart promotional, merchandising and segmentation strategies were key to upleveling the ecommerce experience, increasing conversions and unlocking vital time and cost efficiencies for the brand. We look forward to our continued partnership with Kenneth Cole as the company continues to strengthen its online business, capturing more consumer dollars and driving increased profits.”
Discover the latest marketing tech tools and techniques with Martech News. Follow us on MTC Podcast for new episodes and updates.