Admirable Devil | Agency Profile, Contacts, AOR, Client Relationships
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Admirable Devil Contacts
|Joel J.||Co-Founder & Chief Strategist||DC|
Sample of Associated Brands
|Michael C.||Co-Founder & Co-Executive Creative Director||DC|
|Bruce G.||Co-Founder & Co-Executive Creative Director||DC|
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Score 58 - Close Watch: Stage Store continues store conversions, off-price focus for younger consumers
As we told you in the latest Stage Stores, the retailer has been wanting to expand and age-down its market by opening more off-price stores. And as far as we know, it still hasn't sought a replacement CMO.
Since acquiring Gordmans in March 2017, Stage has focused on converting more of its stores to off-price, and specifically into Gordmans, locations. According to Chain Storage, after turning Gordmans into an off-pricer, the results were so encouraging that Stage began converting its own stores into Gordmans. Now, Stage Stores are also taking on the off-price title. Reportedly, Stage plans to total the amount of off-price locations it has to 300 by the year 2020.
According to the Q2 earnings call, since 2018, it has converted 98 store locations to off-price. In Q2, Stage refocused its apparel to serve the core female demographic (exact demographics unspecified) and "significantly improved sales" from Q1 to Q2 as a result; therefore, sellers, may want to put ads in front of assumably millennial females in order to drive in the most traffic.
Additionally, sellers, you may have extra spending dollars as Stage was able to cut down conversion costs from $125k to $40k per store, per Chain Storage and the earnings call; Stage will either speed up the conversion process as a result, or it could just have extra money lying around for you to grab. Never hurts to ask.
In the past 24 months, the main Stage Stores brand has only invested $25 in digital display, per Adbeat. Under the sub-brand Gordmans, the company has spent $26.6k on digital display in the past 12 months, according to Adbeat. In the previous 12 months, Gordmans had not invested in this channel at all, so this is a new strategy. Video ads take 99% of digital display followed by 1% site direct placement. Videos are placed through YouTube ($24.2k) onto--take a guess--youtube.com. Most ads placed site direct ($2.1k) are also placed on youtube.com. When offering ad space, focus on communicating with YouTube for Gordmans, specifically.
Stage has not placed national TV ads since at least 2013, pre-acquisition of Gordmans, per iSpot. However, localized broadcast is assumably utilized, per Kantar. In Q1 2019, Stage reportedly spent $253.4k on TV ads, and it spent a total of $5.3 million in this channel for 2018, through Spot TV. It's possible Stage shifted dollars from TV to digital this year since Q1 TV spend was on the lower end and digital display has seen more spending as of late.
Sellers -- Ask about the TV ads and see where and when ads will be placed this year; traditionally, it spends more on TV in H2. Although they may not be the target audience, the most reached age for Stage is Gen X, specifically women, per StatSocial. This may change as more stores become off-price, since millennials tend to be attracted to cheaper retail items, especially if they are of higher quality. This may also increase the number of Gen Z buyers, as well. Stage also spent $8.4k on Spanish-language print ads in Q1 2019.
Agency readers -- Stage hasn't had a digital agency relationship since 2008, to the best of our knowledge. We can assume, based on the previous media relationship end date, Admirable Devil. Consider putting together ideas focused on utilizing digital to promote Stage's new lower-income, younger market. When a new CMO is selected, your chances for work will increase.