The target market segment of young women is a part of a demographic of young adults (18-29) of whom 90% use social media. Thus, L&K will have to develop an excellent social media and presence to maximize their potential impact on their target market segment. As well, higher income and higher educated household are more likely to use social media – another group L&K would like to target. Additionally, the first outlet store of L&K in Stillwater, Oklahoma can take advantage of the social media known as Pocket Points, which is a unique resource available to the students of Oklahoma State University. This tool allows students to collect points by locking their phones while they are on campus. Students can then redeem the points they collect …show more content…
L&K will need to compete on the basis of quality and justify its higher price to customers. We will do this by providing superior customer service to the women who visit our store and by providing services which are entirely lacking in large department stores. Our fashion consultation services will be one of the two services which will set our store apart from our competition. These services exist for men in department stores such as Men’s Warehouse, but are entirely lacking for women searching for professional wear. L&K will appeal to our customer basis by training our staff in the latest professional fashion trends, general fashion principles, and in superior customer care. Additionally, we can compete with larger department stores through the competitively priced tailoring services we will provide for our customers for any suit they purchase through L&K for the lifetime of the suit. Large department stores do not offer this service, complimentary or not, for professional suits purchased by their customers. Often, the suits women buy at these stores do need to be tailored to fit the specific body type of the woman. However, tailoring services are expensive to utilize and difficult to find a qualified individual to perform that tailoring. The need to tailor a suit increases the real price of purchasing a suit from a department store, even though the initial price
For people who wants to buy clothing in Myer, they usually go shopping with friends or family, so they could get some suggestions from others. When people making decisions of buy new clothes, usually they have little knowledge of how the cloth will looks like on them, so they need to try them on, this process often take a long time. The influcences at the points of sales of these products will be whether customers like the style or not, the suggestions from friends, families and salesperson, and whether customers think the product worth the price (Rahman, Rahaman, Jensen, & Gällstedt 2008, p. 42-43).
For this growing population, we can track the merchandises and find out what kind of items the customers spend money on. We gather the data and analyze the pattern and what style the customer is looking for. We send e-mails to the customers when getting new items that fit the customer’s dress preference with style suggestions.
In our new store “Dress 4 Less” we know that it is going to be small with a maximum occupancy of 124 persons. Everyone is welcome. But we’re only going to focus on providing great customer service, great prices, and great quality on our clothing for the
Women’s outfits were generally custom-made well into the 1920s. at that point a number of factors came together to contribute to the success of the women’s ready-made apparel industry.” (“Ready”). The hand making of clothes were slowly coming to an end. Fewer women were spending their days at home, spending more time working, or doing other things.
Just as J. Crew has begun to target lower price point markets, it has begun to also target higher price point markets. J. Crew’s “Collections” and “Wedding” lines use finer materials and more intricate designs in their pieces, but are sold at more expensive prices. Lastly, the company’s sub-brand “Madewell” focuses on American-made denim and casual styles that aim to attract teenage to middle-aged women. J. Crew immense growth throughout its years has come as result of its ability to diversify its brand into many different
Of the hundreds of named brand clothing that form part of the retail and fashion industry I chose to compare, for my analysis, Abercrombie & Fitch, Forever 21, American Eagle, and H&M. These stores are prominent, well-known for selling apparel, shoes, and accessories by the means of offering sales and promotions to their customers. This is a clever strategy for attracting customers, allowing them to believe that they bought goods at affordable, convenient prices – and not to mention the prestigious name prescribed to the clothing brands. Using keyhole.co as my main source, I obtained relevant and valuable information regarding the status of these brands. My intentions were to compare a period of 14 days, however, due to the limited access that I received from my free trial, the program only allowed me to see fewer of the dates than I anticipated. I want to take this opportunity and mention ahead of time that due to the various and distinctive products that are sold from these stores, when looking for the “spending capacity” I decided to focus on shirts/ jeans for men and women and compare the prices among them since each of these retailers carry those items and as a way to make this report easier to contrast and comprehend. Also, when approaching the section of “setting”, I screen-shotted some of the images on Instagram and made them into a collage to separate the type of clothes and trends that each of these brands sell currently. In the following modules
The women's apparel market is highly competitive. With the launch of a new active-wear line from Harrington Collection's, more and more competitors will start to realise the potential value in in producing an active-wear line of their own. The active-wear market is growing so rapidly (expected to double turnover from 2007 to 2009), that eventually all of Harrington's competitors would likely be expected to launch a line of their own, relying on existing brand loyalty and high-scale advertising campaigns to capture market share and move units.
The Lululemon brand ranked highest among their competitors for “luxury fashion apparel”. Organizing a like-minded community for body-conscious and health-aware as well as fashion-pursuing female customers is one of the most fundamental parts of Lululemon’s marketing strategy. Lululemon is the first mainstream clothing company to really put the “salon” business model into every detail of their business management. Resembling the core of Apple’s retail strategy, in which like-minded thinkers came together to share their own opinions, culture, and theories. Customers go to the Apple store and salesmen will teach them how to use the products. Lululemon will do the same thing, they could teach customers. In recent retail environment, buyer and seller are put on the same sides under the effect of this strategy. Both are focused on an idea of self-betterment that overshadows the commercial transaction itself. This ethic strategy transforms the stores into a space for personal communication with low pressure. The employee have the chances to talk to the customers about their passions and pursuits, and customers will select the ideal garments with the help of the employee. The final purchase transaction comes to be an investment in customers themselves, representing their own ideas and goals. In fact, Lululemon keeps setting goal behind the counter to make customized service to guests. Salon-model strategy is a trend to interest consumers overtook the desire to just own or consume more
Although the market for separates is certainly viable given promising growth in test markets, it is not a market that makes sense for Hart, Schaffner & Marx (HSM) to compete in. The trend certainly shows a divergence in how some customers view their needs with regards to semi-formal clothing, but the firm runs the risk of diluting not only the perceived quality of its clothing, but also alienating its current client base that is partial to the experience HSM offers in its stores. This experience includes personalized expertise on new fashions, custom tailoring, and the status associated with purchasing and wearing the company’s clothes.
One of the many features of the store is a “Her Time” personal shopping service. Ladies can schedule a block of time with Janelle where they get her undivided attention in selecting just the right outfit for their body size and color. “Women have a tendency to select the simpler styles like plain black slacks or a top that doesn’t always accent their best features” says Wilson, “my goal is to help my customers stretch their comfort zone just a little and try some new things.” It is so exciting to watch a lady step into the dressing room feeling a little sheepish about trying something on and step out smiling from ear to
Life With Lex is a newly set-up retail establishment that will offer fashionable clothing for sale to women aging from eighteen to fifty years old. Life With Lex is a sole proprietorship small business that will be located in uptown Kingston, New York. The uptown area of Kingston is becoming an extremely popular shopping area for locals because of its hip, vintage feel. While my inceptive goal is to open one boutique in uptown Kingston, my extension plans include inherently franchising my boutique Life With Lex, and/or the premises I am located in, a highly-acknowledged brand name. In the future, I would truly hope to occupy a substantial portion of the online retail market.
As a clothing store which is focusing on local designed and European designed clothes, our products are going to be high-end, fashionable, green and unique.
Shanghai Tang has been in the business of selling high quality retail items for men and women, clothing and accessories, since 1994. Their designs have been based upon Chinese cultural influence while also being modern and wearable in markets around the world. Although business has gone well under the leadership of Rafael Le Manse, the company is experiencing some new internal and external issues. Shanghai Tang’s competition is about to establish a market presence in China and in order to stay ahead in the game; Le Manse needs to figure out how to expand the existing customer base. Also, Le Manse’s long time creative partner, Joanne Ooi, is leaving
Imagine someone going into a store to buy a suit. The first thing they do is pick out a design they like or a color that they love. However, it is always a struggle to find the exact one they were looking for, some are the right color but not the right design, some are the right design but not the right color. The buyer is instantly pulled into a fritz, the suit buying conundrum has been set in motion and the mass produced company has created a highly unsatisfactory buying process. The customer is either forced to buy suit he does not desire, buy one off the internet without knowing if it fits, or go to a custom tailor while spending heaps of money that most don’t possess. The answer? Become the tailor while reducing the cost. Under Armour has made indications recently they could be planning a widespread Mass customization process that could lead the way for generations to come, and we highly recommend they go forth with it. We believe this because we find it will help Under Armour increase their business globally by encouraging creativity and uniqueness, adding value to the distribution process, and which will lead to high customer satisfaction.
This report is about Uniqlo’s competitive environment using Michael Porter’s Five Force Model. Uniqlo is a Japanese company which engages in designing casual wear clothes, manufacturing clothes and retailing clothes. Uniqlo in Hong Kong has established a profitable business constantly recording extremely high sales on a per store basis. Uniqlo offers fashionable and high quality clothing at reasonable prices, and was seized as an opportunity to establish a brand position domestically and internationally.