What: The CEO of Saks.com gives his insight on how the retailer has seen success and growth since 2019.

Why it is important: Saks.com is the largest luxury e-commerce business in the US and has seen significant growth in the post-pandemic era with its current strategy.

Although Saks.com laid off 3.5% of its workforce, the CEO states the cutbacks aren’t a reflection of the state of business as they reorganize. The online retailer is currently the largest e-commerce business in the US, with the business up 120% in comparison to 2019.

The layoffs were part of a reorganization that created separate teams for technology and operations to eliminate redundancies, accelerate growth and be more efficient. In the reorganization, they also named a new interim chief technology officer and chief operating officer

Approaching $2 billion in annual sales, the retailer is seeing success with the split of Saks.com and Saks Fifth Avenue.  They grew their customer count by 60%, picked up 2.7 million customers online, and omnichannel customers were up 43% since 2019.

The CEO states that with this change, they are able market more efficiently and specifically, invest in technology to personalize more effectively, and use data to expand assortment. Additionally, they have started to implement a marketplace model which lets them give the right level of assortment to customers.

Marc Metrick on growth and reorganization at Saks.com