Female Gen-Z Opps: Forever 21 seeking CMO amid spend increases (Score 65)

Forever 21 (F21) is currently in search of a new CMO to aid its retail turnaround and evolution. The selected marketer will work to drive F21's consumer traffic, recognition, engagement, brand affinity, brand loyalty and brand penetration. The CMO, who it seems will be the first to fill this role for F21, will also develop a new, insight-driven digital marketing strategy.

Right now, F21 is particularly focused on growing its loyalty program, as made evident by its January 2021 hire of credit card and loyalty marketing manager Allene Turner McMurray (How are ya now?).

Additionally, F21 recently debuted an omnichannel Black History Month collection and campaign; this was the company's most large-scale culture campaign ever. As you can see in the video above, F21 released a more recent but similar ad celebrating Women's History Month.

So far this year, Pathmatics reports the company has already allocated roughly $7.9m toward digital ads, up exponentially from the roughly $648.3k it allocated within the same 2020 timeframe. F21's estimated full-year 2020 spend more than tripled to $24.9m from that of $8m in 2019. YTD, it has earned around 898.5m digital impressions via YouTube (41%), Facebook (37%), Instagram (18%) and desktop display (3%) ads. 

As you can see from F21's sharp increase in digital ad spend and heavy reliance on YouTube, Facebook and Instagram ads, its traditionally female target demographic currently consists primarily of Gen-Z. To reach this audience, a new CMO may lead F21 to expand into additional digital channels such as podcast and/or OTT. Either way, this hire will likely result in a continuation of the company's growing ad spend. 

Agency & martech readers - As you know, a CMO hire will likely also result in agency reviews; reach out soon to remain top-of-mind. Since Within was awarded F21's digital and social remit last year, you'll have better luck offering creative, PR and/or media services.