Pier 1 Imports, Inc. | Company Profile, Marketing Contacts, Media Spend, Brands
Headquartered in Fort Worth, TX, Pier 1 Imports, Inc. is a retail chain offering furniture, candles and home decor. Pier 1 works alongside it's product development team and designers to import decorative home furnishings.
|Main Telephone||(817) 878-8000|
|Main Fax||(817) 252-8174|
Pier 1 Imports, Inc. ContactsContacts (5/13)
|Terry L.||Interim President & Chief Executive Officer||TX|
Sample of Associated Brands
|Cathy D.||Executive Vice President, Merchandising||TX|
|Greg H.||Executive Vice President, Human Resources||TX|
|Eric H.||Executive Vice President, Marketing||TX|
|Stacey R.||Senior Vice President, eCommerce||TX|
|Pier 1 Imports, Inc.||********|
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Spring/Summer Media Opps: Pier 1 ‘significantly increasing' marketing spend, bringing TV back (Score 53)
Subject: digital marketing, catalog, print, market research
Company: Winmo), Ft. Worth, Texas-based homegoods retailer with more than 1,000 locations in the US, Canada and Mexico.
Opportunity: Over the last year, we’ve told you about Pier 1′s shifting media mix – returning to TV while maintaining digital and social marketing. Now, in the Q4 earnings call, CEO Alex Smith said Pier 1 would “significantly increase” its marketing spend in fiscal 2017. This, he said, will allow Pier 1 to re-incorporate TV into its media plan without “going backwards” on successful digital and print activity.
In fiscal 2016 (which ended in February), Pier 1 rebuilt its legacy customer database and added new CRM functionality so that its marketing, customer relations and store teams have access to details and accurate information about how and when customers spend. As a result, Pier 1 now has a platform to develop an extension to its Pier 1 rewards credit card loyalty program. Currently, a new entry-level non-tender loyalty program is being piloted in three states (he didn’t specify which three), but will be rolled out nationwide later this year.
Martech readers – Pier 1 recently promoted Susan Rodgers to VP of marketing, CRM and analytics, meaning there could be increased opportunity in these areas.
Sellers – Smith specified that most of the marketing increases will be deployed in the first half of its fiscal year – March to August – where Pier 1 has less sales volume. This means sellers should reach out and engage decision makers now to secure TV, digital, direct and print dollars. Marketing plans are designed specifically to drive new customer acquisition and increase store traffic in 2016, so readers that make this happen for Pier 1 should be pitching the business.
According to The List, Omnicom’s OMD, Chicago handles media buying and planning for Pier 1 .
New Product/Service Launch: Smith also said that Pier 1 would enter the gift registry business this year (am I the only one who thought they already did this?). It will first be rolled out online-only with functionality coming to stores at a later date.
Smith also said that he was more pleased with Pier 1′s new product introduction for the spring, which rolled out beginning in January, than he has been for a while. He continued that the focus for 2016 is on “newness” because the company is seeing the customer responding “extremely well” to newness.
Promotional Cadence Shifts: When asked about the potential for evolving promotional strategy in 2016, Alex seemed to be of two minds about it. He started by saying that “in some respects,” it will follow the pattern that was established in 2015 with a number of exceptions. One of the exceptions he noted was in Pier 1′s outdoor business.
Traditionally, the retailer holds the price of outdoor products all the way through to Memorial Day, something the rest of the industry did not do. Therefore, in 2016, Pier 1 has begun the outdoor season with selective promotional offers. He also said Pier 1 would “hit public holidays” a little harder that last year.
Additionally, he said Pier 1 would continue to upgrade the quality of the creative it uses to project its brand in print and online, so agency readers should be engaging decision makers for possible projects.
National TV Spend: According to iSpot, Pier 1 launched a new spring campaign at the beginning of April. So far, the retailer has spent $1.4 million to air two new spots 851 times (since April 3). See chart for 2016 show targeting.
Note that Pier 1 did not spend any money on national TV ads in 2015, but $26.9 million was deployed in the channel in 2014.
Digital Breakdown: In 2016, Pier 1 has run 20 display ads on 50 publishers (<1% mobile). Top ad destinations have included mode.com, myfridgefood.com, thesimsresource.com and icydk.com (12% placed site direct versus programmatically). Pier 1 has also run five high impact ads (standard and sponsored) and eight video ads this year.
For the same period 2015, Pier 1 did not run any display ads.
For 2015, Pier 1 ran 62 display, 64 high impact and no video ads on 3,323 publishers (<1% mobile; 20% placed site direct).
100 Pier 1 Pl.
Fort Worth, TX 76102
Executive Vice President, Marketing
Senior Vice President, e-Commerce (promoted in April 2015)
Vice President, Marketing, CRM & Analytics (promoted Jan. 2016)