The Backroom: A Review of DTC Brands in the First Half of 2023
The first half of 2023 has passed, and major DTC brands have successively released their Q2 results. This episode of The Backroom podcast reviews the growth of brands such as On and Canada Goose, as well as the difficulties faced by Olaplex and Grove Collaborative, and discusses comparisons with mass retail and holiday season expectations.
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The first half of 2023 has passed, and many companies have reported their second-quarter earnings.A summary of earnings reports from major brands in the direct-to-consumer (DTC) spacepresents a mixed picture: some brands performed better than before, while others are attempting to implement transformation plans.
Brands such asOnandCanada Goose—which saw double-digit year-over-year revenue growth—have been focused on expanding their DTC channels. Meanwhile, Olaplex's DTC sales declined, and Grove Collaborative appointed a new CEO amid falling sales.
Regardless of how some companies performed in the most recent quarter, the stage is set for the second half of the year as the crucial holiday season approaches. The team discussed themes from Q2 DTC earnings, how they compare to mass retail, and trends to expect as time goes on.
For a deeper dive into the most important period in retail, register for the2023 Holiday Season Insightsvirtual event. Retail Dive senior reporter Daphne Howland will join colleagues from Marketing Dive and Supply Chain Dive to look ahead to the season.
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