Fairfax intends to breathe new life into its digital print publications by announcing a partnership with online fashion retailer, ShopStyle.
Print media and other publications have been undergoing rapid, dynamic changes in recent times. Physical newspapers and magazines are struggling to stay relevant as more people turn to online sources of information, and media companies are working hard to make these channels profitable.
The latest innovation to develop in this space has been dubbed ‘storytailing’, combining digital text content with embedded e-commerce. Storytailing enables consumers to gather relevant information about brands, styles and products while simultaneously providing an avenue to make on-the-spot purchases.
That the technique of bundling digital press with online retail is proving successful comes as no surprise, as media and retail have always complemented each other to some extent. However, when it comes to storytailing, blatant advertising is no longer relied upon to convert a sale. Customers gain useful knowledge as they browse through stories and reviews, and if they decide a product is right for them, the purchase is only a click away.
It is into this space that Fairfax has decided to step. On the 29th of February, the Australian media giant will announce its partnership with the international fashion retailer, ShopStyle. Their joint initiative, The Daily Life, is targeted at women aged 30-45 and will provide news, opinion and feature stories on relevant content. The digital magazine was actually launched yesterday, but the new shopping features are yet to be widely publicised.
Laura Yeomans, Country Manager for ShopStyle Australia related the exciting news in a recent interview.
“This partnership brings a lot of opportunity,” Yeomans says. “Retail partners will soon have the potential to reach a much larger Australian audience and have the potential to receive additional promotion throughout the Fairfax network.
“ShopStyle content will appear across all [Fairfax] female verticals, beginning with the launch of their new women’s project, The Daily Life.”
The initiative is the first to be trialled by Fairfax, but is soon to be followed by all their publications that cater for female interests. These other titles include The Vine, Life&Style and Cuisine.
The storytailing model could represent a major windfall for Fairfax, which has been struggling to maintain profit margins, particularly since the classifieds model of advertising has moved away from newspapers and into the online sphere.
“I believe online shopping to be the crucial element that is missing from Fairfax’s digital offering, but with the help of ShopStyle technology, a female reader is far more likely to engage and remain on their sites for longer periods of time,” Yeomans says.