Nogin’s Enterprise-Class E-Commerce Technology Drives Exceptional Holiday Sales Performance for Fashion Retailer Kenneth Cole – Nogin (NASDAQ:NOGN), Nogin (NASDAQ:NOGNW)
TUSTIN, Calif., March 02, 2023 (GLOBE NEWSWIRE) — 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 partnering with Nogin to drive increased sales and margins. During the 2022 holiday season, Nogin and Kenneth Cole’s partnership resulted in a particularly exceptional sales performance, with the fashion retailer beating its forecasts every day of Cyber Week and up to 102% and 117% on Black Friday and Cyber Monday respectively achieved overperformance.
Nogin’s full-stack e-commerce solution offers market-leading e-commerce technology without the cost, complexity, time, and risk of migrating to a legacy enterprise platform. For brands using the Shopify Plus platform, Nogin’s technology encompasses and extends Shopify’s existing advertising capabilities and insightful reporting metrics. Since partnering with Nogin in late 2021, Kenneth Cole has leveraged Nogin’s planning, merchandising and promotional tools and strategies to drive sales growth and improve profits.
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Specifically, Nogin has designed and executed a discount methodology based on an intelligent cadence, offering category-specific sales at seasonally relevant times, site-wide sales during the holidays, and the biggest sales of the year during Black Friday and Cyber Week. Additionally, Nogin helped the company create consistent communications to engage and connect customers with the brand, and executed a paid media strategy to engage customers in the second and third quarters leading up to the holiday season.
Additionally, Nogin’s technology helped Kenneth Cole amid an uncertain market environment and as many companies shifted to prioritizing their gross margins, optimizing conversion rates and maximizing profits. Nogin delivered a custom personalization strategy for Kenneth Cole’s entire website, targeting different consumer segments such as first-time buyers and repeat buyers with the right offers and discounts to drive sales. Additionally, Nogin’s unified merchandising and returns capabilities helped drive time and cost efficiencies to further increase margins.
All in all, by harnessing the power of intelligent, enterprise-class ecommerce technology backed by Nogin’s team of ecommerce experts, Kenneth Cole reduced his P&L risk and significantly scaled his online business. Through his partnership with Nogin, Kenneth Cole achieved notable milestones including:
- 29% increase in conversion rate (CVR) and 27% increase in gross merchandise value (GMV) year over year thanks to Nogin’s technology and management of Kenneth Cole’s performance and loyalty marketing
- Up to 172% CVR increase for high traffic pages due to AI automated merchandising rules
- 52% CVR increase on product pages through customer personalization, including displaying products that are specifically available in the user’s size
- Product add-ons increased units per transaction by 1 and had a 4.3% CVR
- Exceptional performance at Cyber Week, beating forecasts by 82% with a nearly 29% CVR improvement.
- Exceeded Black Friday targets by over 102% and Cyber Monday targets by over 117%
“We are thrilled with the success we’ve had using Nogin’s trading platform, particularly during our Cyber Week sales this year,” said Jed Berger, President of Kenneth Cole Productions. “With Nogin, we have significantly exceeded our holiday direct-to-consumer goals, ended the year on a strong fiscal footing, and positioned ourselves for a strong 2023 user experience and brand, 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 optimizing growth,” said Jonathan Huberman, President and CEO of Nogin. “When working with Kenneth Cole, our intelligent advertising, merchandising and segmentation strategies were key to enhancing the e-commerce experience, increasing conversions and unlocking important time and cost efficiencies for the brand. We look forward to our continued partnership with Kenneth Cole as the company continues to grow its online business, attract more consumer money and generate higher profits.”
For more information on Nogin, see www.nogin.com.
About Kenneth Cole
Kenneth Cole Productions, Inc. designs, sources and markets a wide line of footwear, handbags, apparel and accessories under the Kenneth Cole New York, Kenneth Cole Reaction and Unlisted brand names and footwear under the Gentle Souls proprietary brand. The company has also issued a variety of third-party licenses to manufacture men’s, women’s, and children’s apparel, as well as fragrance, watches, jewelry, eyewear, and several other accessory categories. The company’s products are sold through department stores, better specialty stores, company-owned retail stores and its e-commerce website. For more information, see http://www.kennethcole.com.
nogin (NASDAQ:NOGN, NOGNW))), the Intelligent Commerce company, provides the world’s leading enterprise-class e-commerce technology and services for brand leaders who need to deliver superior growth with predictable costs and an exceptional online experience. Nogin Commerce Technology is a cloud-based e-commerce environment built specifically for brands selling direct-to-consumer (D2C) and through online channel partners. Nogin gives its clients the freedom to focus on their brands while running as much or as little of the infrastructure as they like. Founded in 2010, Nogin optimizes the entire e-commerce lifecycle for D2C brands such as bebe, Brookstone, Hurley and Kenneth Cole, achieving compound annual gross merchandise value (GMV) growth of more than 40% in the first year. To learn more, visit www.nogin.com or continue to follow us LinkedIn and on Twitter at @nogincommerce.
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Nogin Investor Relations contact:
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