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Sensor Tower · Seema Shah · October 2023
MMM: Birkenstock Advertising Strategy; Meal Kit Company Mobile App Trends
Birkenstock plans to go public in mid-October, with increased annual revenue since selling a majority stake. Sensor Tower data outlines how its advertising is shifting as its prospective IPO nears. Meal kit company Blue Apron is being acquired for $103mn six years after going public. ST data shows declining MAUs for Blue Apron's mobile app over the past five years.
Key Takeaways:
Birkenstock is focusing on growing its foothold in the US, though its ad spend in 2023 is only 3% of the US ad spend across the cohort. Brands like Skechers and Hoka are the top spenders in the cohort for 2023, with 31% and 22% of spend, respectively
Despite its small share of ad spend across the cohort, Birkenstock has actually doubled down on its advertising efforts in the US, with US ad spend growing two times YoY since 2019
On average, the footwear cohort increased its US spend by ~90% YoY as of 3Q23 with Birkenstock slightly above the group at 108%
Birkenstock’s closest competitor, Deckers-owned Teva, grew its spend by ~300% YoY as of 3Q23, nearly 1.3x that of Birkenstock, although only 15% of its spend was on YouTube and TikTok, leaving an opportunity for Birkenstock to gain greater awareness among younger audiences
Through 2023 YTD, HelloFresh has increased its US ad spend by ~75% YoY while Blue Apron has pulled back its US ad spend by ~50% YoY
For more information, request the full report from reports@sensortower.com.
