On March 9, Toad&Co today announced a new e-commerce revenue sharing program whereby 10% of all new customer e-commerce revenue was to be shared with its physical retailers. The program was designed to help independent specialty brick and mortar retailers weather the upcoming effects of COVID-19 by allowing them to generate revenue from consumer purchases referred to the Toad&Co website. Today, the lifestyle apparel brand updated the program, including upping the revenue share to 30%.
“It is clear that more needs to be done to work together to navigate the current challenges we face as a result of the COVID-19 progression, announced the company. “As the impact translates to slower store traffic and store closures, Toad&Co has just released a Phase Two of its revenue share program which aims for retailers to take advantage of Toad&Co’s e-ccommerce capabilities.”
Effective immediately, independent specialty brick and mortar retailers can opt into one or both of the following new “drop ship” programs by contacting their Toad&Co sales representative or Toad&Co dealer services.
Program #1 – Upon retailer request, Toad&Co will provide a unique retailer specific code that can be shared with customers to be used at checkout on the Toad&Co website. The company will share 30% of all new customer net revenue of full priced Spring’20 product using this unique code. On a monthly basis they will apply the accumulated revenue against outstanding invoices.
Program #2 – Upon retailer request, Toad&Co will provide a turnkey trackable link to place on the dealer’s website or share through their marketing channels allowing customers to purchase on the Toad&Co website. Toad&Co will share 30% of all new customer net revenue of full priced Spring’20 product tracked through these links and apply the accumulated monthly revenue against outstanding invoices.
According to Toad&Co., any new customers that come through either of these programs will be lifetime tagged in Toad&Co’s database to the specific retailer that referred them. Once this COVID-19 specific program ends, Toad&Co will direct any acquired customers back to their local retailer. Further, they will offer an ongoing option for retailers to participate and share in future revenue from these new customers that may periodically choose to buy from the website.
With Program #2, in the case that a customer clicks through from the retailer’s website but does not purchase and then later purchases directly, Toad&Co will be able to attribute that later transaction to the specific retailer.
This program will be in place at least through May and will provide updates and make changes as needed, said the brand.
