Five Below To Raise Omni-Channel Visibility

By Hannah Ash, contributing writer

Five Below is looking to raise its visibility going forward, particularly, its omni-channel presence. Similar to Vera Bradley’s recent omni-channel movements, Five Below has announced key management changes. Last week, the retailer announced key management changes going forward that indicate a new direction for the teen and pre-teen based company. Of considerable significance, the retailer announced Joel Anderson would be president; Anderson had previously served as Walmart.com’s chief executive officer and president. Five Below also announced a new chief administration officer, Eric Specter, who formerly served as the chief integration officer for Ascena Retail Group. These two new key hires, both pulling experts from the omni-channel world, indicate the teen-based retailer is looking to strengthen its online presence, perhaps setting a pace for other teen-based retailers to follow.

Co-founder and CEO, Tom Vellios, stated, "as we look to the future and continue to execute on the tremendous growth opportunity for the Company, adding the right talent in leadership positions has been a key priority. We have been actively engaged in a search for the right candidate to fill the role of President and we are incredibly excited to have someone with Joel's talent and extensive experience joining the Five Below team.” Vellios went on to state that Anderson would be a clear leader for the brand’s omni-channel future, “with Joel, we have a proven multi-channel retail leader with an exceptionally strong background across both stores and e-commerce, and the right leadership skills and merchandising vision to help fuel the growth of the Five Below brand."

In his capacity as president and chief executive officer of Walmart.com, Joel Anderson was responsible for all aspects of Walmart.com’s web and online sales channels, including merchandising, marketing, operations and general customer experience; Anderson also has been employed by both the Lenox Group and Toys R Us. Planning to onboard in July of this year, Anderson stated, “"Five Below's focus on delivering trend-right, high-quality products all priced at $5 and below, in a fun and differentiated shopping environment, has helped to establish the Company as a leading brand for pre-teens, teens and beyond. I see an enormous opportunity ahead to build on the Company's solid foundation as we expand the reach of the Five Below brand and continue to elevate how we market, merchandise and connect with our customers. This will strengthen our relationship with our existing customers while drawing new ones to the Five Below experience." As Walmart.com has recently experienced extreme growth in its online channels, Anderson’s clear expertise could mean similarly large growth for the discount retailer.