My favourite article I’ve read recently!
Online fashion retailer ASOS has been crowned most reputable fashion retailer according to a list provided by UK Rep Trak.
The top three on the list also included Laura Ashley and Debenhams, with M&S in fourth place and Next in fifth place.
The Rep Trak works on a company’s ability to deliver on stakeholder expectations in seven key areas, which are products and services, innovation, workplace, governance, citizenship, leadership and performance.
Then the companies are scored from 0-100 based on overall reputation and divided as Excellent (80 and over), Strong (70-79), Average (60-69), Weak (40-59) or Poor (below 40).
Executive partner Kasper UIf Nielsen, at Reputation Institute, said: “It is intriguing that an online-only retailer has achieved a stronger reputation than the old high-street favourites. This not only reflects the shift in shopping habits of the UK general public, but it also underlines the point that you can build a high degree of trust, respect, and admiration without the face to face experience. With only one retailer breaking through the ‘excellent’ barrier, many within the sector need to do more to cement and build upon their reputations.”
The report comes less than 24 hours since Labour candidate Owen Smith called for a parliamentary inquiry into ASOS regarding their working conditions at the Barnsley warehouse.
During uni we had guest lecturer, John Hoerner, give a talk about his book and the retail industry, which I found really insightful and inspiring. He gave all listeners a copy of his book ‘How to Sell: Recipes for Retail which now uni is over, I would like to read.
Hoerner has been a main boss at many fashion retail brands including Harvey Nichols, Burtons, Tesco, Topshop to name a few. His talk was really intriguing as he discussed customers, employers, employees and head office staff, he even made comparisons between them to his dogs, horses and flying!
Interesting points Hoerner made included the fact that customer loyalty doesn’t exist, he believes it’s a myth. What exists is customer familiarity and satisfaction, the only thing customers would be loyal to would be family and friends products. I also like how Hoerner said that store visits should be unbusiness-like, you should forget everything you know on a store visit – be in a rush, act like youve never been there before, then you are a customer!
At the end there were questions and answers, I asked his opinion on why he believes Zara do so well as a business. Hoerner answered saying it was partly down to their analysis, as well as owning their factories and retail stores, causing lead times and critical path to run smoothly and in line with business needs.
Horner spent five years writing the book, which he said for every four pages it took one year to learn.
Whilst conducting market research for my design module a uni, I looked on Karen Millen’s website to see insight into their S/S16 collection inspiration. Looking at this has been really influential for my design brief. Karen Millen’s prints were inspired by artists such as Rothko, Katharina Grosse and Bridget Riley. Some prints were really abstract, with painterly qualities or tropical botanicals. As I have been exploring similar themes in my work, it is really interesting seeing similar designs being designed for a similar target market I am designing for. I am looking forward to seeing these products in store!
View KM’s website: http://www.karenmillen.com/trend-prints/content/fcp-content
As I am now back at university and starting to think about my dissertation project, I found this article really interesting to consider. I am researching into sensory marketing/namely tactile marketing and the affects this has on consumer behaviour.
Article can be found: http://uk.fashionmag.com/news/Average-UK-shopping-trip-now-takes-over-four-hours-research-finds,545967.html#utm_source=newsletter&utm_medium=email
Hammerson, the UK property specialist, has just released its 2015 retail report “Shopper Tribes.”
The average shopping journey in the UK now takes over four hours, the report found. This includes browsing, researching, checking prices and purchasing, and nearly 40% of it is spent in stores.
The survey divides shoppers into three groups: Channel Surfing Enthusiasts, aged 18-34 and 35-54, and Focused Functional Spenders, aged 55+. The youngest group are the keenest shoppers, but the 35-54-year-olds spend the most as a group.
Multichannel shopping is more common than ever, with most (86%) now using two or more channels. Of the younger shoppers, 24% use four or more channels and over half (58%) use mobile or tablet devices whilst shopping.
The survey also found that Black Friday and “half price” were the most effective promotions.
David Atkins, CEO at Hammerson, said: “In many ways, the proliferation of research tools and digital innovations has democratised shopping, empowering consumers but also giving retailers numerous touch points to reach their customers and engage with them along the journey. With nearly two fifths of this shopping time spent in store, there is a real opportunity for retailers to showcase a proposition that is unmatched in the online world, and for landlords to provide experiences beyond pure retail that capture and extend customer dwell-time.”
The retailer will sell its Flowers of Liberty collection in five Nordstrom stores this summer, as part of the US department chain’s Pop-in@Nordstrom series. The collection features three prints – Wiltshore, Betsy and Theodora – on a range of kitchenware, food and gifts.
Article by Cajsa Lykke Carlson available from: http://uk.fashionmag.com/news/UK-s-Liberty-plans-international-expansion,544978.html#utm_source=newsletter&utm_medium=email
I’m always keeping an eye on articles related to fashion retailers, simply to see the latest going-ons in the industry! I get emails sent everyday and I always take a quick look on my train to see. Over the last few weeks, I found these the most interesting to read! A mixture of positive and negative news as usual: