Hollister uses Share2Pay to help young shoppers share their carts with guardians
11/08/22 • 10 min
In the second quarter of 2022, the teen-centric clothing brand Hollister was ... not doing very well.
It experienced a 7% year-over-year sales loss. On top of that, its sister labels Gilly Hicks and influencer-led brand Social Tourist reported a 15% decline in sales. Conversely, Hollister’s parent company Abercrombie & Fitch saw a 5% lift in sales.
What was the issue?
After an internal study of sales data, executives at Hollister and Abercrombie & Fitch found that brands targeting teens were losing sales. Part of this was due to inflation and the rising cost of living, but they found the key pain point was an age-old reality: most teens simply don’t have much purchasing power. After researching today’s Gen Alpha (teen) consumers, Hollister created the Share2Pay app to tackle this problem. ... (READ MORE)
In the second quarter of 2022, the teen-centric clothing brand Hollister was ... not doing very well.
It experienced a 7% year-over-year sales loss. On top of that, its sister labels Gilly Hicks and influencer-led brand Social Tourist reported a 15% decline in sales. Conversely, Hollister’s parent company Abercrombie & Fitch saw a 5% lift in sales.
What was the issue?
After an internal study of sales data, executives at Hollister and Abercrombie & Fitch found that brands targeting teens were losing sales. Part of this was due to inflation and the rising cost of living, but they found the key pain point was an age-old reality: most teens simply don’t have much purchasing power. After researching today’s Gen Alpha (teen) consumers, Hollister created the Share2Pay app to tackle this problem. ... (READ MORE)
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