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Fast fashion retailers adopt selective collection approach to success

In an attempt to reduce inventory and offer unique designs to customers with faster turnaround time, global fast fashion retailers such as H&M, Uniqlo, GAP have adopted different strategies like offering different collections at different stores as per demand trends to save on cost.

 

Fast fashion retailers adopt selective collection approach to success

In an attempt to reduce inventory and offer unique designs to customers with faster turnaround time, global fast fashion retailers such as H&M, Uniqlo, GAP have adopted different strategies like offering different collections at different stores as per demand trends to save on cost.

Recently, Japan's fast fashion brand Uniqlo’s, SanLiTun, Xidan joy City store launched the ' Uniqlo u-series '. This is supposed be the brand’s 'haute couture', and the company does not extend the full range of products at all its stores. Currently the u-series contains 87 sweaters, outerwear, dresses and jackets and other goods, which has been designed by former creative director of Hermès Christophe Lemaire and team. But the full series is available at only 26 key stores in the country and the recently launched official website. Similarly, Swedish fast fashion brand H&M’s ‘H&M Studio’ series has already hit the market but only at select stores.

Fast fashion retailers adopt selective collection

As they are highly selective in nature, the price points are also premium as compared to other products available across stores. For instance, you would find an H&M men's jackets at 399 Yuan on the website, but the studio series designer collection is being sold for 799 Yuan.

A highly targeted strategy

In order to distinguish between mass products and designer collections, companies are in a better position to gauge market trends and deliver to customers what they seek. This way companies are able to target two specific objectives: one, highlighting cost competitiveness; second, developing a different set of customers who look for design and unique attributes in a product rather than the price point.

Analysts claim that it is extremely difficult to sustain such a model in the long run. Fast fashion brand line series often has specific themes and concepts. H&M Studio Spring/Summer this year worked on ' travel ' theme and launched a series of products. But there is no mechanism which can track the success of such strategy.

Additionally, putting products at some specific stores may limit its sales if someone else from far-off destination wants to purchase the clothing. While in the case of online platform, the product may loose its uniqueness and may become prey to imitation. There is a growing breed of first copy and second copy originals, which is eating into the profit margins of high-end apparel companies. Termed ‘speed sequel’, it is quickly reaching into everyone’s wardrobe these days because of cost effectiveness.

What’s the way out?

In order to taste waters for certain unique products, fast fashion retailers can open a new counter in the store to supply these higher price line of products or develop an independent franchise store. Celebrity endorsements has also been increasing these days, which may attract customers to glance at products at exclusive stores. Whatever is the way out, companies need to be selective and unique in their approach to brand their products rather than falling prey to fakes which are being mass-produced and sold simultaneously through different modes of retailing.

 
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