Female Millennial Opps: Saks Off Fifth loses top marketer (Score 44)

Sales lead: Keep an eye on this brand because a CMO hire will likely lead to spend shifts & agency appointments. 

• Saks Off Fifth lost its chief marketing & analytics officer, Sara Griffin, in September 2023.
• Griffin is now the CMO of The Shade Store.
• We told you about SOF reorganizing its leadership team and making Griffin its top marketer in June.
• We will be sure to update you as soon as the brand names a replacement.

Target demographic: Millennial women

Once it hires a new CMO, the brand will likely:

• Ramp digital spend back up
• Try new ad channels
• Seek new agency partners

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: SOF spent approximately $1.4m on digital display ads YTD, down 59% from $3.4m spent in this channel during the same time period of 2022. 
• YTD data: 205m impressions via Facebook (41%), Instagram (37%), YouTube (15%), desktop display (4%), and mobile display (3%). 
• 2021-2022 spend: Full-year spend increased by 26% from $3.4m in 2021 to $4.3m in 2022. 
• Ad location: It placed 96% of these ads directly onto sites such as facebook.com, instagram.com, youtube.com, yahoo.com, and currently.att.yahoo.com. It placed 4% of these ads through multiple indirect channels onto sites such as yahoo.com, cnn.com, currently.att.yahoo.com, money.cnn.com, and sports.yahoo.com.

Agency analysis:

• Opportunity: Be prepared to reach out as soon as SOF hires a new top marketer.
  • SOF does not have any agency partners at this time.  

Insight Sources: Digital spend insights estimated by Pathmatics.