This past year, in the midst of the pandemic and an economic downturn that hurt nearly every industry, the brand everyone loves to hate saw their strongest revenue in history.
After their early-aughts heyday, Crocs suffered. In 2008, with “mountains of shoes and no one to buy them,” Crocs suffered a loss of $185 million (Washington Post). The novelty of the rubber clogs wore off, and Crocs slipped from our radar. Until recently.
Crocs resurgence may come as a surprise to those not tuned in to the world of Gen Z, but it’s no coincidence. Crocs has made a concerted effort to speak Gen Z, launching successful collaborations with Justin Bieber, Bad Bunny, and Post Malone (among others).
Crocs collaborations are one element to their continued success. The other is their digital savvy.
For brands targeting GenZ – not having a TikTok is as bad as not having a website. As of August 2020, TikTok had exploded to over 100 million users (CNBC). Over 60% of those users belong to Gen Z (Forbes). Organic reach on TikTok is about twenty-one times that of Facebook or Instagram at a shocking 118%. It remains one of the few platforms offering potential growth without paid support.
Source: https://www.entrepreneur.com/article/367814
