Female Gen-Z, Millennial Opps: Lulus selects new top marketer (Score 67)
Sales lead: This hire could lead to spend shifts or agency appointments. .png)
- Lulus Fashion Lounge named Patrick Buchanan marketing SVP, effective October 2023.
- Buchanan most recently served as Good American's marketing VP.
- This fills the CMO vacancy we told you about last year.
Target demographic: Gen-Z & millennial women
The company will likely:
- Keep ramping up digital spend
- Diversify digital ad placement
- Outsource some marketing duties to agency partners
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: Lulus spent almost $39m on digital display ads YTD, a huge increase from $5.7m spent in this channel during the same time period of 2022.
- YTD data: 4.5b impressions via Instagram (73%), Facebook (26%), and YouTube (1%).
- 2021-2022 spend: Full-year spend increased by 30% from $6.3m in 2021 to $8.2m in 2022.
- Ad location: It placed 100% of these ads directly onto instagram.com, facebook.com, and youtube.com.
Agency analysis:
- Opportunity: Reach out to the new marketing SVP now to secure top priority.
Insight Sources: Digital spend insights estimated by Pathmatics.
