Dive Temporary:
- Bathtub & Physique Works hit record-high buyer retention charges and improved its capacity to draw first-time customers in its newest quarter, CEO Gina Boswell stated on a Q3 2024 earnings name Monday. Web gross sales had been up 3% year-over-year to $1.6 billion.
- The My Bathtub & Physique Works Rewards loyalty program reached 38 million members throughout the quarter, up 4% year-over-year, in accordance with the retailer’s earnings presentation. Loyalty members accounted for over 80% of year-to-date gross sales.
- Boswell believes the corporate is well-positioned for a profitable vacation season. “Our achievement facilities and shops are totally staffed and able to ship an distinctive retail expertise, whereas our omnichannel method ensures clients can store seamlessly wherever and each time they select,” she stated throughout the name.
Dive Perception:
Bathtub & Physique Works leaders are specializing in its 5E technique, a five-pronged playbook that features two buyer expertise centered pillars: participating with clients in new methods and enabling a extra seamless omnichannel expertise.
The retailer’s buyer engagement push consists of an emphasis on the in-store expertise, in accordance with Boswell, who hung out visiting shops in latest months.
“Witnessing our superbly organized ground units together with our retailer associates’ distinctive capacity to satisfy our clients’ wants is all the time an important reminder of the power of our retail expertise and the group that permits it,” Boswell stated.
Bathtub & Physique Work’s rewards program is enjoying an necessary position in engagement as nicely. Loyalty clients store with the model extra continuously, spend extra on common, and usually tend to make purchases throughout a number of channels.
The retailer’s omnichannel technique consists of an emphasis on the purchase on-line, decide up in-store choice, in accordance with CFO Eva Boratto.
Purchase on-line, decide up in-store utilization was up about 40% yr over yr within the third quarter, accounting for 25% of digital gross sales yr to this point. About one-third of consumers who use the service make a further buy within the retailer.
Bathtub & Physique Works can also be exploring cross-channel experiences by means of social media. The retailer launched its On a regular basis Luxuries product line on TikTok Store with the aim of reaching Gen Z clients in the hunt for vacation reward inspiration, in accordance with Boswell.
