Similarweb Reports Trends for Global Digital Brands

Rhea-AI Summary

Similarweb (NYSE:SMWB) has released a report titled 'Shaping the Market 2024: The Brands Defining Retail Trends', highlighting global digital brand trends amid economic uncertainty. The report identifies four key areas:

1. Athleisure: New Balance and Alo Yoga capitalizing on changing consumer wardrobes.
2. K-Beauty: Korean beauty products gaining global traction, with Anua and Mediheal as examples.
3. Quiet Luxury: COS and Loro Piana appealing to understated elegance.
4. Pet Care: Petlibro and PetLab Co succeeding with premium pet solutions.

The report provides detailed digital metrics and success analyses for each brand. It aims to help companies leverage consumer insights for business growth, emphasizing the importance of digital market intelligence in identifying emerging trends and understanding consumer behavior.

Positive

• Release of a comprehensive market trend report covering four key industries
• Identification of successful brands and their strategies in athleisure, K-Beauty, quiet luxury, and pet care sectors
• Provision of detailed digital metrics and success analyses for trending brands
• UK athleisure brands collectively experienced a 5.1% year-over-year increase in traffic in H1 2024

Negative

• None.

Market Research Analyst

The rise of athleisure, K-beauty, quiet luxury and premium pet care brands amid economic uncertainty signals a shift in consumer priorities. Brands like New Balance, Alo Yoga, Anua, Mediheal, COS, Loro Piana, Petlibro and PetLab Co are capitalizing on these trends by offering perceived value and quality. This demonstrates that even in challenging economic times, consumers are willing to invest in products that align with their evolving lifestyles and values.

The 5.1% year-over-year traffic increase for UK athleisure brands is particularly noteworthy, suggesting a strong regional market for this category. For investors, this report highlights potential growth areas in retail, emphasizing the importance of brands that can adapt to changing consumer preferences and deliver value-driven offerings.

Financial Analyst

Similarweb's report offers valuable insights for investors in the retail and e-commerce sectors. The focus on successful brands during economic uncertainty provides a roadmap for identifying potential winners in the market. Investors should pay attention to companies that emphasize transparency, value and quality in their offerings, as these attributes are driving consumer loyalty.

The report's metrics on exclusive and returning visitors are important indicators of brand strength and customer retention. These factors often translate to higher profitability and sustainable growth. For public companies like Similarweb (NYSE:SMWB), providing such in-depth market intelligence can enhance their own value proposition and potentially drive business growth.

Tech Expert

Similarweb's digital market intelligence demonstrates the power of data analytics in identifying emerging market trends. The ability to spot these trends before they become mainstream gives businesses a significant competitive advantage. This report showcases how digital metrics can be leveraged to gain insights into consumer behavior, competitor strategies and untapped market opportunities.

For tech investors, this highlights the growing importance of companies that can provide actionable data insights. The emphasis on digital metrics like exclusive visitors and returning visitors underscores the value of tools that can accurately measure and analyze online consumer behavior. As e-commerce continues to evolve, such digital intelligence platforms are likely to become increasingly essential for businesses across various sectors.

Global trends identified include growth in athleisure, Korean beauty brands, “quiet luxury” and pet care

TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)-- Similarweb (NYSE:SMWB), a leading digital market intelligence company, published a flagship report Shaping the Market 2024: The Brands Defining Retail Trends, showing which brands are growing at a time of consumer caution and economic uncertainty – and what those brands are doing to distinguish themselves from the competition.

The overarching trend: economic uncertainty means consumers are increasingly focused on obtaining value for their money. In response, successful brands are enhancing transparency and aligning pricing with the perceived value and quality of their offerings.

Produced by Similarweb’s Insights team of analysts, the report covers four industries, with trending brands identified for each:

• Athleisure: How New Balance and Alo Yoga are capitalizing on the changing consumer wardrobe.
• K-Beauty: How Korean beauty products, with Anua and Mediheal as outstanding examples, are gaining global traction.
• Quiet Luxury: The appeal of understated elegance and subtle opulence with COS and Loro Piana.
• Pet Care: How Petlibro and PetLab Co are succeeding with premium, tailored solutions for pets.

For each of the trending brands, the report provides detailed digital metrics for how each of them excels – for example, loyalty metrics like exclusive visitors and returning visitors – and a “how they did it” analysis of the components of their success.

“Readers of this report will learn about the strongest trends that digital and omni channel retailers can capitalize on, with details on the brands that are showing how to execute on those trends,” said Marta Sulkiewicz, VP, Market Research at Similarweb. “Our goal is to help companies turn consumer and market insights into business results so they can win their markets. Digital market intelligence makes it possible to spot emerging trends before they go mainstream, understand competitor moves with greater precision, identify untapped markets by analyzing global consumer behavior, and better understand exactly what your audience wants. We hope that this free report will give business leaders inspiring examples and a taste of what's possible.”

The report is global, but it also includes regional detail and analysis of specific brands. For example, estimated metrics in the athleisure chapter indicate that UK brands collectively experienced a faster-than-average 5.1% year-over-year increase in traffic in the first half of 2024.

The Shaping the Market 2024: Brands Defining Retail Trends report is available for download as part of a series of reports on The State of Ecommerce 2024.

About Similarweb

Similarweb powers businesses to win their markets with Digital Data. By providing essential web and app data, analytics, and insights, we empower our users to discover business opportunities, identify competitive threats, optimize strategy, acquire the right customers, and increase monetization. Similarweb products are integrated into users’ workflow, powered by advanced technology, and based on leading comprehensive Digital Data.

Learn more: Similarweb | Similarweb Digital Data

Free Tools: Analyze any website or app | Verify your website | Browser extension

Follow us: Blog | LinkedIn | YouTube | Instagram | X

Disclaimer: All names, brands, trademarks, and registered trademarks are the property of their respective owners. The data, reports, and other materials provided or made available by Similarweb consist of or include estimated metrics and digital insights generated by Similarweb using its proprietary algorithms, based on information collected by Similarweb from multiple sources using its advanced data methodologies. Similarweb shall not be responsible for the accuracy of such data, reports, and materials and shall have no liability for any decision by any third party based in whole or in part on such data, reports, and materials.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240912509644/en/

Press:

David F. Carr

Similarweb

david.carr@similarweb.com

Investors:

Rami Myerson

Similarweb

rami.myerson@similarweb.com

Source: Similarweb

FAQ

What are the key trends identified in Similarweb's 'Shaping the Market 2024' report for SMWB stock?

The report identifies four key trends: athleisure, K-Beauty, quiet luxury, and pet care. It highlights successful brands in each category and provides detailed digital metrics and success analyses for these trending brands.

How does Similarweb (SMWB) report on consumer behavior in times of economic uncertainty?

Similarweb's report indicates that consumers are increasingly focused on obtaining value for their money. In response, successful brands are enhancing transparency and aligning pricing with the perceived value and quality of their offerings.

What growth did UK athleisure brands experience according to Similarweb's (SMWB) report?

According to the report, UK athleisure brands collectively experienced a faster-than-average 5.1% year-over-year increase in traffic in the first half of 2024.

Which brands are highlighted in Similarweb's (SMWB) report for the quiet luxury trend?

The report highlights COS and Loro Piana as examples of brands appealing to the quiet luxury trend, which focuses on understated elegance and subtle opulence.