Chapter 1 - Case Study Midterm - Lululemon's Success During and Despite the COVID-19 Pandemic Flashcards
Where is Lululemon based? How many stores does it have?
Headquartered in Vancouver BC, it has 490 stores.
What are the statistics of Lululemon’s sales?
Quarter 2 of 2021 - 61% increase from the previous year of the same period.
What was the % increase year after year from 2019-2022
2019 - 2020: 21%
2020-2021: 11%
2021-2022: 42%
What is BOPIS
Buy Online, pickup in store.
What technology had Lululemon implemented to ride out the pandemic by March 2020? What did each of these technologies allow for Lululemon to achieve?
1) Strong online presence with their e-commerce site
2) Strong online presence + RFID - Accurate real time store inventory visibility and BOPIS
3) new mobile point of sale system, conducting transactions like purchases, gift cards, returns, and exchanges outside of the store.
What did Lululemon implement in April of 2020 to assist with riding out the pandemic?
A live video chat shopping experience, allowing one on one video chats experts to discuss sizing, recommendations, etc.
What is a paid search?
Type of digital marketing where search engines such as google show ads on their results pages. When they search up fitness clothes those are relevant key terms to Lululemon and thus they appear as an advertisement
What was the move and stay connected Lululemon trend? What did it increase?
During the pandemic many people were on lockdown and stuck at home, but people wanted to stay active. So Lululemon introduced this online sports challenge to spend 20 mins a day, five days a week moving. They posted daily streams with brand ambassadors via instagram, increasing engagement but a new lifestyle in a new reality.
What three things has brand awareness through e-commerce help Lululemon achieve?
1) Brand awareness
2) Generate extra sales
3) Attract a new audience.
What did the CEO of Lululemon say regarding the success?
They had to pull three years worth of investment capital expenditure to get the digital platform up to speed, doubling the 2018 e commerce 3 years ahead of schedule.
