What: digital demand was nearly 60% of owned business during the holiday season

Why it is important: CEO Marc Metrick gives perspectives for 2021

In his quarterly letter sent to vendors, Marc Metrick explains the following about Q4:

• More customers shifted their spending online and responded positively to Saks’ revamped online experience,
• The decision to delay designer sale break was successful in driving more full-price selling,
• Key markets such as Detroit, Atlanta, Boca Raton and Philadelphia were up double digits to 2019,
• Men’s, women’s accessories, kids and fragrances were the top-performing categories across all channels.

In 2021, Saks will:

• Introduce new personalization initiatives including the reveal of an “online preference centre” which will enable shoppers to find and save the newest arrivals of their favourite brands, offering a dedicated landing page with personalized products based on browsing behaviour,
• Amplify clienteling efforts through automation,
• Amplify the recently launched “customer council”, a cross-functional team focused on further improving the customer experience including executives from marketing, digital, finance, store operations, distribution and logistics,
• Redesign SaksFirst loyalty program, starting with the introduction of new rewards and benefits, such as early access to sales and in-home styling sessions,
• Continue with off-hours and virtual styling appointments and same-day delivery.

According to Marc Metrick, business is expected to ramp up over the course of 2021 despite uncertainty due to the pandemic.

Q4 at Saks Stores Down, Digital Up