ASOS crowned most reputable fashion retailer

My favourite article I’ve read recently!

Available from: http://www.retailappointment.co.uk/news/rep-trak-name-asos-most-reputable-fashion-retailer?utm_source=NBE&utm_medium=email&utm_campaign=NewsbyEmail

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.

John Hoerner

 

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.

 

Boohoo announces 40% rise in full-year revenue

I’ve found myself more recently looking at Boohoo’s website more often and ordered my first purchase the other day – a khaki bomber. I then received my daily drapers email saying that the etailer’s revenue has increased by 40% to £195.3m. I thought about what they were doing so right and found the article an interesting read. They now have more than 4 million active customers and launched apps for the UK, US and Australia.
Mahmud Kamani and Carol Kane, joint CEOs, commented: “We are pleased to report a year of strong revenue growth across all geographic regions. Active customer numbers, order frequency and conversion have all increased on last year as we continue to invest in building customer lifetime value. By refining the mix of promotional and marketing expenditure in each of our key markets, we have achieved growth ahead of our plans.”
Boohoo have expanded their product range, which has been well received by customers and have added a petite range and plus-size range. These both continue to grow. Their mobile experience has also been enhanced, introducing more flexible delivery and return options and later next day delivery cut off times.

I look forward to seeing how Boohoo continue to strive in the e-tail world and compete against their ever increasing competitors.

Drapers – Inditex controls the whereabouts of more than 1 billion garments

I read an article from Drapers about how Inditex produce over 1 billion garments a year! The article speaks about Radio Frequency Identification to find out every garments whereabouts. Read the article here: http://uk.fashionmag.com/news/Inditex-controls-the-whereabouts-of-more-than-1-billion-garments,669269.html#utm_source=newsletter&utm_medium=email

I am always fascinated to hear about Zara’s actions and plans, being such as innovative brand, they never cease to amaze me with their innovations.

Karen Millen S/S16 preview

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

Online vs in store shopping

As the Christmas period is over and the New Year is here, I am starting to back into the swing of my dissertation for uni! I am looking into consumer perception of sensory marketing, namely tactile marketing and its impact on buying behaviour and purchase decisions in women’s fashion. A huge part of this topic is the ‘battle’ between clothes shopping online and shopping in store.

For my literature review research, I was advised by my supervisor to watch ‘Robert Peston Goes Shopping’ which aired in September 2013 on BBC. The link can be found here: http://www.bbc.co.uk/iplayer/episode/b039w4lt/robert-peston-goes-shopping-3-revolution.

The documentary reveals how shopping in Britain has transformed over the 20th century, focusing on how the highstreet is coping with online shopping. The growth rate of the internet has had a dramatic effect on the highstreet arguing that it has fallen behind on convenience, pricing, service, which is what consumers demand today.

Peston goes on to discuss how the highstreet needs to combine the best parts of online shopping and the best parts of instore experience, rather than seeing the internet as a lethal threat.

What I found really interesting was the predictions on the future of retail. Essentially the documentary spoke about a new system called ‘tapestry’, in which consumers will use their mobiles in store to scan products they are interested in. This will ultimately convert instore browsing into purchases. Scanning the item will bring up more about it, such as where it was made, what bloggers have said about the product etc. therefore interacting with the retailer.

In essence, future stores will become showrooms, where consumers will just touch and feel products, then buy them online later once they have left the store. This may be with discount codes, so at a cheaper price.

After watching the programme, I got an email from Drapers about brick-and-mortars stores and online shopping over the christmas season, which was fascinating to read, having watched the programme!

Here is the link: http://www.drapersonline.com/newsletter/news/bricks-and-mortar-sales-boosted-on-boxing-day/7003376.article?WT.tsrc=email&WT.mc_id=Newsletter387&cm_ven=ExactTarget&cm_cat=DR+Daily+

 

 

Draper’s most recent articles

I have been keeping up to date with the latest happenings in the industry and found these articles the most interesting – interesting to see M&S boosting their digitial presence through hiring the founder of shazam, Reiss is continuing to grow internationally and Burberry and Mario Testino presented a live photoshoot on Snapchat. Always fun to get these email daily and read them before I start my day…

http://uk.fashionmag.com/news/M-S-adds-digital-clout-to-board-with-Shazam-boss-hire,582184.html#utm_source=newsletter&utm_medium=email

http://uk.fashionmag.com/news/UK-s-Reiss-plans-international-expansion,584688.html#utm_source=newsletter&utm_medium=email

http://uk.fashionmag.com/news/Burberry-and-Mario-Testino-presenting-live-photo-shoot-via-Snapchat,585840.html#utm_source=newsletter&utm_medium=email