2024 is the year of the bride with many post-pandemic weddings scheduled to take place over the coming months. Wedding apparel retailer David’s Bridal has played a significant role in the wedding industry and and has remained resilient despite having filed for bankruptcy, twice in recent history.
David’s Bridal CEO Jim Marcum joins Yahoo Finance Live to discuss the changes the company has made to meet the needs of today’s bride. Marcum noted the “significant success” of its loyalty program as well as expansion of its online presence. Marcum states the goal is to provide all needed services in terms of clothing and accessories for the entire wedding party: “We want to basically work with her [the bride] all through her planning process.”
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Editor's note: This article was written by Eyek Ntekim.
Video Transcript
- So Jim, as you look at the e-commerce, versus in-person sales, versus also the connections that you're making on TikTok as well. How does that grow and how does that pull into the growth story, and really the turnaround story for David's Bridal.
JIM MARCUM: Yeah. So if you look back at what we've been able to achieve in David's, we've launched a significant loyalty, a loyalty program that we've had significant success with. We, today, have over 2.5 million members that are brides, which is a phenomenal opportunity for us to be able to communicate. What's interesting about the David's customer, 85% of all brides, 85% to 90% of all brides and actionable brides, I would say, in the country, will come into our website at some point. And a lot of that is around inspiration and shopping.
We've really expanded our capability there by launching a lot of digital tools, including we've launched a marketplace, I'm not sure if you're aware of that. But full suites of wedding planning tools and apps and those things. And so what's interesting is, when somebody gets engaged, one of the first searches they do is wedding planning tools, and wedding planning checklist. And we're there with her.
So we want to basically, work with her all the way through her planning process, bring her in the stores. Her dress, she likes to come into the store. She likes to try it on, and we have the alteration services and everything. But then she builds out her basket. And we actually have an assortment for everybody in the wedding party. So we have the bridesmaids, we have the mother of the bride, we have the guest of the wedding, and gifts, and accessories, and those type of things. So it's a long planning cycle, and she's engaged all the way through it.