Next plc sells products for men, women and children. There are about 700 Next stores: most of them (more than 500) are located in the UK and Ireland and around 200 stores are situated in Europe, Asia and even in the Middle East. It also has an online store and many international franchises . Next is considered to be the largest clothing retail company in the UK (according to the sales numbers provided by Bloomberg and Telegraph ). Moreover, the company has been listed on the LSE (London Stock Exchange) and on the FTSE (Financial Times Stock Exchange) 100 Index .
The main feature of Next is that it provides quality well-designed clothes for a reasonable price. Its target market is primarily adults who are not too obsessed with fashion and demand
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The franchise partners of the NEXT Company operate now about 188 stores presented in 37 countries worldwide. Currently, Next plc doesn’t have any mergers or acquisitions.
Customers and products
During its long history the concept of Next stores has repeatedly changed, the product range along with the target audience has also expanded. Initially the target customers of the Next brand products were young girls and women who preferred more classic style of dress, then later the line was extended at the expense of men's and children's models. So, it may be stated that the customers of Next are mostly young women, men and children. The statement on the official site of Next says: “Our aim is to meet or exceed our customers’ expectations of NEXT as a company and the products we sell by providing “exciting, beautifully designed, excellent quality clothing, footwear, accessories and homeware”. Delivering to our brand values means developing, improving and expanding our product ranges, focusing on being better by design” . The key figures presented in Figure 2.1 show positive change in customer and products
In the beginning, we choose the Workhorse to become our first target market, and the Traveler has been our second target market. However, we didn’t get a successful sale at the beginning since our brand does not meet the needs of Workhorse and we had a very poor rating of our advertising for our target market even though we have a cheapest price in market. After a few quarters, we try to modify our brand and we find the Traveler may has high demand of our brand since we design a new brand for them, so we change the Traveler to be the first target market and the Workhorse move to second.
For many customers, our competitive advantage lies in our global network. We offer enterprise-grade network services in 182 countries representing 99 percent of the world’s economy.
The global fashion and apparel industry is a giant with annual turnover of approx. $1.7 trillion and provides employment to approx. 75 million people. With globalization and increasing competition amongst manufacturers, coupled with lower production rates in the developing countries, buying clothes has become way inexpensive than before. Add to it the fiercely growing internet penetration and fast catching up ecommerce industry, clothes are more or
The Limited, Inc. is comprised of a unique family of brands. Since the grand opening in 1963, the Company has grown to over 5,633 stores and 13 retail businesses. Businesses that fall under the umbrella of The Limited, Inc. are: Express, Lerner New York, Lane Bryant, Henri Bendel, Structure, Limited Too, and Galyan's Trading Company. The Limited, Inc. also owns 83% of Intimate Brands, Inc., IBI, which consists of Bath & Body Works, and Victoria's Secret.
As a result, they are able to cater to and target a larger demographic market. While their standard Nordstrom products provide a higher-end quality, focusing on upscale shoppers who are high class, Nordstrom Rack targets the middle-class, mid-scale shoppers who may not be able to afford Nordstrom products on a regular day. This price decision allows them to target a completely different market segment of customers who are typically younger and focus on value. Much of their target market is also the young millennial generation. Many other similar retail stores, like Macy’s or Sears, have difficulty attracting this market. Because millenials are younger, Nordstrom aims to build strong relationships with these individuals, as then they will continue shopping at Nordstrom as they get older, increasing the customer lifetime value. Through being able to target two major market segments, Nordstrom holds a competitive advantage over store like Target, who target one market of middle-class
Currently, Lululemon has 254 stores in North America, Australia, and New Zealand. (“Lululemon Athletica Inc. announces fourth quarter and full year fiscal 2013 results,” 2014). They offer a range of performance apparel and ac...
The fashion industry has changed over a period of time due to the growth of boundaries. This is attributed to the varying dynamics of the industry; declining mass production, altered structural aspects in the supply chain, need for more affordable cost and quality. This shows that fashion retailers are able to acquire a competitive power in the market through making sure through which they get their products to the market for the consumers (McAfee, Dessain, & Sjoman, 2007). Consumers are hence able to get product easy and of high quality. Fast fashion has been able to meet the needs of consumers while trying to acquire major merchandize turnover to retailers than local rivals. The Zara case study reported sales $8.15 billion to its competitors Hennes & Mauritz 0f $7.87 billion (Dutta, 2002). This was the consumer’s one stop shop due to the quality products offered both globally and locally.
Around the world they have 3,100 stores. Most of the stores are in Germany, United Kingdom, United States, France, Spain, and Sweden. The stores are in every continent.
Domestically, they sell products through a distribution network that includes department stores a lot, watches and jewelry stores, company-owned retail and outlet stores, market outlets and also through the website. Internationally, products are sold to department stores, retail stores, and specialty watch and jewelry stores in approximately 130 countries worldwide through 23 company-owned foreign sales subsidiaries and through a network of over 60 independent distributors. Products are also offered for flights and cruise ships and in company-owned retail stores globally. Products are also sold through licensed outlets and franchised FOSSIL retail, retail concessions, as well as websites in some countries.
Consumers today continue to be fascinated by personal appearance and fashion styles. Fashion, and the way we present ourselves through clothing
The SWOT analysis is a useful tool for identifying our personal strengths, weaknesses, opportunities, and threats to our plans and goals. According to a “Fuel My Motivation” article (2010), this analysis considers internal influences that can positively or negatively affect our ability to achieve our goals. The internal factors are our strengths and weaknesses. Also considered are opportunities and threats, which are external influences that can have a positive or negative impact on the ability to achieve our goals. I will share how the self-assessment instruments and self-exercises in this course have contributed to assessing and understanding my strengths and weaknesses. I will also discuss techniques I will use to leverage my strengths and understand my weaknesses. In addition, I will consider opportunities that I can take advantage of and the threats that can possibly impede my progress.
About the Fit is the first online clothing shop of its kind in the film making it a new and innovative business which will spark interest in customers.
Its unprecedented growth is a direct result of meeting a niche in the clothing market, at a time when The Gap was well positioned to meet the new demands of this "business-casual" trend, introducing other chains to expand its customer base, and aggressive expansion in the global marketplace.
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Following fashion styles in order to be trendy and to look different and stylish in front of others by wearing different types of clothes and accessories. Fashion can be viewed in people’s style of outlook personality with clothing and hairstyle, style of living and behaving, along with the area of personal interest. Today’s youths are totally influenced by new fashion trends. Fashion brings an interesting twist in our boring life which makes us with feeling of confidence and up to date according to this changing environment. Youth generation is totally affected by this glamorous world of fashion. Their dressing style, hair style, accessories, language and personality all shows that how much they are influenced by fashion.