Top Retailers Using Social Media to Target Trends and Consumers
Michael Kors Holdings Ltd. (NYSE: KORS) has been a hot retail name in clothing and clothing accessories, and it could be the epitome of the social media advertiser. As one of the fastest growing luxury brands in the world, the company has the cushion of the high-dollar consumer, but that has not stopped it from pursuing an aggressive social media branding and sales agenda. The consensus price target for this very hot momentum name is $108.91. Shares closed Tuesday at $88.36.
Urban Outfitters Inc. (NASDAQ: URBN) is another trendy name that has battled consumer perception and tastes in the revolving door of the fashion world. Its Instagram efforts combined with other targeted media have slowly started to bring consumers and sales back up. The consensus price target for the stock is $42.23. Shares closed Tuesday at $34.02
Pacific Sunwear of California Inc. (NASDAQ: PSUN) has been hit, and many think the time may be right for aggressive buyers. The company operates in the action sports and fashion segment, based on the influences of the California lifestyle. It sells branded and proprietary apparel, accessories, and footwear for teens and young adults out of mall-based stores under the brand names of Pacific Sunwear and PacSun. The teen appeal of the retailer makes social media a perfect outlet, especially when discounting and offering seasonal sale items. The consensus price target for the teen favorite is $3.55. Shares closed Tuesday at $2.31.
The sheer penetration of social media outlets to all demographics and age groups makes it a cheaper and easier way to target consumers. With mobile applications becoming better with each passing day, this powerful advertising forum will only continue to grow its already ubiquitous presence.