WEBVTT - Mack Weldon CEO Discusses New Consumer Approach

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<v Speaker 1>So we caught up with this next guest just about

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<v Speaker 1>one year ago, just as he and his team are

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<v Speaker 1>embracing traditional TV advertising for the first time. He's a

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<v Speaker 1>great voice for us on the retail seeing e commerce,

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<v Speaker 1>fitness at leisure world. Uh so much. Great to be

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<v Speaker 1>talking again with Brian Burger. He's founder and CEO of

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<v Speaker 1>mac Weldon, the digital retailer, not just digital though, because

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<v Speaker 1>they've got a store. I've been to it. He's on

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<v Speaker 1>the phone in New York City. Um, Brian, good to

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<v Speaker 1>have you back with us. How are you. It's great

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<v Speaker 1>to talk to you, Carol, it's been too long. I agree,

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<v Speaker 1>I agree, So what go ahead? And always I always

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<v Speaker 1>follow the era space. Why is that? Well, listen, what

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<v Speaker 1>I love about what I do is that I get

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<v Speaker 1>to talk to people from all different worlds, and if

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<v Speaker 1>I added up together, I get a clearer picture of

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<v Speaker 1>what's going on in our world. So help me out here.

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<v Speaker 1>What are you guys seeing? You're so tapped into the consumer. Yeah,

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<v Speaker 1>it's um, you know, consumer consumer appetites has been really strong.

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<v Speaker 1>I mean we talked last as we were kind of

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<v Speaker 1>getting into the you know, to the to the pandemic

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<v Speaker 1>and the quarantine, and we weren't really sure how that

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<v Speaker 1>was going to impact our business. For a lot of reasons,

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<v Speaker 1>we're fortunate and that we were kind of in the

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<v Speaker 1>right product category with the right business model to sort

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<v Speaker 1>of beat the customer where they were at the time,

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<v Speaker 1>which was really all about comfort and loungeware and sweats

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<v Speaker 1>and many of the products that we sell and you know,

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<v Speaker 1>and and and similar the leads. We kind of come

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<v Speaker 1>out of this and people guys specifically start thinking about

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<v Speaker 1>you know, you know, getting back to you know, normal life. Um,

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<v Speaker 1>you know, we're seeing similar levels of enthusiasm you know,

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<v Speaker 1>with our our product line, which really cover runs the gamut.

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<v Speaker 1>I mean, we like to um say that we're not

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<v Speaker 1>a lifestyle brand, where where a brand for life, and

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<v Speaker 1>so you really have products that run across the gamut

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<v Speaker 1>of a guy's wardrobe. And so we're seeing a lot

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<v Speaker 1>of enthusiasm from customers around categories like chinos and and

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<v Speaker 1>and and and outerware and and things of that nature,

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<v Speaker 1>in addition to all of our or you know, underwear socks. Well,

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<v Speaker 1>having said that, Brian like, great, we all had to pivot,

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<v Speaker 1>and I know you guys did too. During the pandemic.

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<v Speaker 1>I think for most retailers, initially it was like, oh

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<v Speaker 1>my god, what's going to happen the world? You know,

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<v Speaker 1>what a crisis. We're still in this crisis. It's obviously

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<v Speaker 1>a different place as we work our way through it.

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<v Speaker 1>But you know, companies, retailers, everybody adapted. You guys did

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<v Speaker 1>as well. What have you learned over the past year. Well,

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<v Speaker 1>we learned that we were able to get a lot done,

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<v Speaker 1>um with minimal resources and and sort of not being

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<v Speaker 1>together um. And we learned something that we I think

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<v Speaker 1>we already knew on sub level, but really that you know,

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<v Speaker 1>we had to be as dialed in as possible to

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<v Speaker 1>our customer. That is something that you know, we practice,

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<v Speaker 1>you know, all the time, but it was a time when, um,

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<v Speaker 1>it was really really important to be very plugged into

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<v Speaker 1>customer needs. Um, you know, at a time where people

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<v Speaker 1>were feeling really unst and about a lot of things.

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<v Speaker 1>And so that has been something that we relied upon

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<v Speaker 1>in good times and certainly as we navigated the last

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<v Speaker 1>year and a half and has been something that has

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<v Speaker 1>guided us, um, you know, through that period and into

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<v Speaker 1>into where we are now. Well, so let me ask

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<v Speaker 1>you about those tv as. So how did that play out?

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<v Speaker 1>Was it productive for you? For you all? Yeah, well,

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<v Speaker 1>you know, we launched television advertising during the pandemic with

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<v Speaker 1>basically no new no new creative capabilities. We've recycled existing

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<v Speaker 1>creative that we had, um and we were able to

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<v Speaker 1>test the channel during a time when all of our

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<v Speaker 1>other advertising was performing really well um and and we

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<v Speaker 1>really proved it out. And so more recently, uh you know, uh,

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<v Speaker 1>actually last week we launched our kind of second iteration

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<v Speaker 1>of television advertising, and it's really a completely different approach

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<v Speaker 1>where we are looking at television as more of a

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<v Speaker 1>top of funnel marketing brand awareness driver help hopefully uh

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<v Speaker 1>for uh you know, better better awareness and better conversion

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<v Speaker 1>across all of the type of market all the marketing

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<v Speaker 1>touchpoints that we have. So this is a bit of

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<v Speaker 1>a pivot off of that. Right, the television ads we

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<v Speaker 1>did during the pandemic, we're very similar to the ad

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<v Speaker 1>that we run on like Facebook, which is really like

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<v Speaker 1>by this product that's really awesome. And then this is

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<v Speaker 1>why the campaigner running now is called by some time

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<v Speaker 1>and it really taps into the customer mindset of our guy,

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<v Speaker 1>which is one where they really value time, they really

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<v Speaker 1>value efficiency, they really value anything that enables them to

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<v Speaker 1>make their life more productive. And we found that a

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<v Speaker 1>lot of guys love our brand because we enable that.

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<v Speaker 1>I think, you know what they're going to get when

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<v Speaker 1>they come to us. So, Brian, you were talking about,

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<v Speaker 1>you know, the second iteration of TV ads for you

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<v Speaker 1>and it is a very different type of campaign. And

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<v Speaker 1>I have to say I was talking with the Belvedere

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<v Speaker 1>Vodka CEO earlier today and they too. You go back

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<v Speaker 1>a few years, it was a very kind of sexy

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<v Speaker 1>campaign with the vodka and now it's all about their

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<v Speaker 1>natural and organic ingredients. It's all about going back to

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<v Speaker 1>nature and and it's what consumers wanted to know, like

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<v Speaker 1>what is what is your brand stand for? And it

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<v Speaker 1>sounds like you two are kind of like, Hey, this

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<v Speaker 1>is what we're all about. Yeah, it's all about time

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<v Speaker 1>and efficiency and this concept of you know, leading you know,

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<v Speaker 1>our guys, It's been a lot of time trying to

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<v Speaker 1>understand our customers during the months you know, of of

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<v Speaker 1>of of quarantine, and one of the things that really,

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<v Speaker 1>you know, bubbled up to the top of that these

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<v Speaker 1>guys are real efficiency seekers across all aspects of their life,

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<v Speaker 1>this notion of leading a well designed life, and so

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<v Speaker 1>for us, that really felt like a really good way

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<v Speaker 1>for us to distinguish ourselves, you know, and our products

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<v Speaker 1>and how we deliver them to our consumers. Um, you know,

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<v Speaker 1>in a world where there's an ever growing sea of

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<v Speaker 1>europure you know, competitors and so in similar types of

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<v Speaker 1>value proposition. So it's early days, but we're very optimistic

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<v Speaker 1>about you know, about about the campaign and what we'll

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<v Speaker 1>do for the brand. And I was just thinking, like,

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<v Speaker 1>how's it working, and I'm like, they just rolled it out.

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<v Speaker 1>It's yeah. I mean, early signs are positive, you know.

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<v Speaker 1>You know, one of the nice things about a business

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<v Speaker 1>like ours is you know, the data is really very

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<v Speaker 1>much at our fingertips, so we're able to look at

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<v Speaker 1>you know, search volume, traffic to the side, you know,

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<v Speaker 1>conversion rates, performance of other types of digital marketing campaigns.

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<v Speaker 1>So early signs are positive. The other big shift for

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<v Speaker 1>us Carrol campaign is um, you know, relates to how

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<v Speaker 1>we're merchandizing products. Um, we're positioning all of our products,

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<v Speaker 1>you know, as we've migrated from just purely underwear and

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<v Speaker 1>replenishment basics and socks to more of a full uh

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<v Speaker 1>you know, broader collection of of of apparel. UM. It's

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<v Speaker 1>this idea that our products are all part of a system,

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<v Speaker 1>and so anything that you buy from us is designed

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<v Speaker 1>to go with other products. And so we're making it

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<v Speaker 1>really easy for consumer is to UM not only find

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<v Speaker 1>what they like, but to understand how that product fits

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<v Speaker 1>in with other things that we make. And the idea

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<v Speaker 1>there is again just to make it really easy for

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<v Speaker 1>them to shop. And also, you know, for digital brand,

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<v Speaker 1>it's important that we're able to tell a bigger story

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<v Speaker 1>than just one product. Different if you have stores people

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<v Speaker 1>can walk in and have a full, commersive experience online

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<v Speaker 1>it's different. You know, Brian, I really think you're hit

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<v Speaker 1>on something. I I own some of your things, have

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<v Speaker 1>warned them UM. And you know what's interesting is the

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<v Speaker 1>pandemic To me, I have looked at my wardrobe personally

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<v Speaker 1>and been like, I don't need all this stuff, Like

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<v Speaker 1>I need a simpler world and I want things that

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<v Speaker 1>I really love, that are comfortable, that our quality UM.

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<v Speaker 1>And it's interesting and I feel like you're seeing that

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<v Speaker 1>I'm hearing and having those conversations with a lot of

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<v Speaker 1>individuals who are just like I had too much stuff,

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<v Speaker 1>A lot of it I don't need, and I want

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<v Speaker 1>to simplify my world. And I think that's the approach

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<v Speaker 1>that you guys are your tapping into something that's going

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<v Speaker 1>on in a bigger way. It's just concept of fewer,

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<v Speaker 1>better things. Yeah, So I like my mother is speaking

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<v Speaker 1>to me, Less is more exactly, you know again for us,

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<v Speaker 1>you know again, our our customer behaves a certain way

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<v Speaker 1>and we're trying to play, you know, cater to that.

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<v Speaker 1>Hey one thing, you know, you share some notes with

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<v Speaker 1>us about the director consumer playbook being broken. Privacy policies

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<v Speaker 1>are dampening at efficiency. Unpack that a little bit for me. Yeah,

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<v Speaker 1>I mean, you know, everybody, you know, with the new

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<v Speaker 1>iOS released, I mean, every single app that you open

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<v Speaker 1>is now asking you whether or not you want to

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<v Speaker 1>give that app permission to track you wherever you go,

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<v Speaker 1>whatever you do. And I would say the majority of

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<v Speaker 1>people are saying absolutely not. Until with that, Spacebook and

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<v Speaker 1>Google are losing. Namely, Facebook is losing its ability to

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<v Speaker 1>track you as you you know, go about your you know,

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<v Speaker 1>your digital life. And you know, part of the reason

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<v Speaker 1>why facebooks have been so successful because they have so

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<v Speaker 1>much data on us and they know where we've been,

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<v Speaker 1>and they're able to target ads based upon that in

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<v Speaker 1>real time, and so that goes away, and it really

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<v Speaker 1>significantly changes the ability to target advertising through digital channels.

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<v Speaker 1>And so it's forcing all e commerce companies to kind

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<v Speaker 1>of rethink how they go to market. And for us,

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<v Speaker 1>it was all pretty timely anyway, because we were a

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<v Speaker 1>diversifying our marketing mixed channels that aren't necessarily has impacted,

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<v Speaker 1>like television and radio and other places, but also distribution

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<v Speaker 1>channels like retail. And in our case, you know, we've

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<v Speaker 1>done very little wholesale, but we're also making a you know,

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<v Speaker 1>a bigger push there as well, just again to just

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<v Speaker 1>cast a wider net. So I got asked about the

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<v Speaker 1>store and Hutton Yards here in New York City. I've

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<v Speaker 1>been been there. It opened back, I believe you, right

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<v Speaker 1>in March of nineteen. Um, how's that going. What's the

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<v Speaker 1>thoughts about retail expansion, you know, brick and mortar. Yeah,

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<v Speaker 1>we're very enthusiastic about retail expansion, and you can expect

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<v Speaker 1>to hear a lot more from us. Perhaps next time

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<v Speaker 1>we talk, we'll have a lot more to talk about

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<v Speaker 1>with respect to that. Um, Hutton Yards was uniquely impacted

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<v Speaker 1>at an endemic because the traffic there is almost exclusively

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<v Speaker 1>commercial office workers and tourists. UM. And so obviously we

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<v Speaker 1>were closed for a while. We opened back up in September.

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<v Speaker 1>It's been it's been slowly climbing, and we are believers that,

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<v Speaker 1>you know, if anyone's going to get it right, it's

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<v Speaker 1>you know, it's a team there, and the team are related,

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<v Speaker 1>and we're obviously very supportive, supportive, and very committed to

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<v Speaker 1>being a part of the rebound which we expect will

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<v Speaker 1>be you know, from labor day forward, after labor day forward,

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<v Speaker 1>which it seems like at least from a commercial office

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<v Speaker 1>perspective in New York, that's when everybody is really going

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<v Speaker 1>to be enacting there, you know, their go forward plan

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<v Speaker 1>with respect to hybrid work or whatever whatever the case

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<v Speaker 1>may be. Hey just got about a minute left here, UM.

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<v Speaker 1>Two quick things. Workers can get the workers you need?

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<v Speaker 1>Or are you having to pay more wages? And is

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<v Speaker 1>your supply chain is that all working? UM interest. So so,

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<v Speaker 1>with respect to workers and the team, our issue is

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<v Speaker 1>not related to UM you know, the issues that our

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<v Speaker 1>early workers are facing. It's more just the general talent competition,

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<v Speaker 1>really high demand for for high quality talent where you

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<v Speaker 1>know we're part of that, and you know, so we're

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<v Speaker 1>competing hard to get the best people in here. And

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<v Speaker 1>the release of the supply chain. Um. Interestingly, we didn't

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<v Speaker 1>have a ton of impact throughout this period, but we

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<v Speaker 1>are starting to see now there's some impacts in Southeast

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<v Speaker 1>Asia and some of the places where reproduced, like Vietnam

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<v Speaker 1>and Thailand where they're having some COVID outbreaks that are

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<v Speaker 1>impacting certain deliveries. And then of course shipping galaze everywhere,

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<v Speaker 1>and costs uh, you know of importation uh, and logistics

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<v Speaker 1>are going through the roof for everyone. Listen, like I

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<v Speaker 1>said in the lead in we learned so much uh

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<v Speaker 1>and you really we just cover a lot of ground.

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<v Speaker 1>So so great to have you here. Come back soon.

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<v Speaker 1>Brian brien Berger, founder and CEO of mack Weld and

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<v Speaker 1>joining us on the phone in New York City,