As the market research findings arrive, designers quickly in... ... middle of paper ... ...Zara has become the forefront of fast fashion and have become a fast fashion follower over the years. The approach of conducting mass communication in terms of market research has made Zara the most productive fast fashion retailer. They implement their design strategy in a different way to competitors. Their design stage is split into three product areas: women’s, men’s and children’s garments and designers and market specialists and buyers are co-located to try out prototype designs. (Slack, Chambers, Johnston, 2010) This allows customer reactions to new designs to be incorporated making Zara a successful fast fashion retailer.
Zara stores have established the stride for merchants around the globe in creating and shipping fashionable clothing (“Case 3-4. Continued Growth for Zara and Inditex”, 2013). Their marketing approach has helped them become extremely successful in terms of providing the customer with. International marketing strategies and its efficiency assists in the expansion of Zara. Cultural understanding is virtuously essential for an organization expecting to be effective in operating in a host country and even their own nation.
Rise of fast fashion: Marketing strategies underlying the success and impacts brought to the industry Introduction “Fast fashion is a contemporary term used by fashion retailers to express that designs move from catwalk quickly in order to capture current fashion trends.” (Hines, Tony, and M. Bruce, 2001) Thanks to the excellent marketing strategies and governance of continuous supply chains, fast fashion is now booming in the apparel industry, there are rapid expansion of fast fashion retailers such as H&M, ZARA, Topshop and UNIQLO, etc. in different countries in recent years. (Mollá-Descals, Frasquet-Deltoro & Ruiz-Molina, 2011) Triumph of fast fashion makes the brands’ founders to become the richest people in the world: The Swedish
Furthermore, there... ... middle of paper ... ...ame period of 2012. (Inditex, 2012) The solid growth from Zara shows that Zara is successful in building its own brand identity. The high degree of recognition of Zara makes people choose Zara instead of other brand. One of customers who are interviewed said: “Zara is the name naturally came into my mind when I want to go shopping. It just came.” To sum up, window display is a significant way to promote the brand image and seasonal products in the highly-competitive fashion industry.
Its ambitious international expansion plan, along with its many opening shops in the domestic market, has boosted the company to a high economic growth. In the Spanish fashion industry, opening new markets is definitely the main strength, which has taken the lead in other sectors of our economy by introducing their brands and products in international markets. (ICEX, 2012) (Appendix 2) 2. MARKET SCREENING AND SELECTION The market screening is an important decision, which should be evaluated carefully as it is based on the failure or success of the company in the foreign countries. It purposes is to allow the retailers to identify the best locations in a large geography to establish their business.
The fast fashion industry can be described as the process whereby fashion designs and trends are moving quickly from the catwalk to retail stores. It is now the norm for huge fashion brands like Zara, and H&M to release more than one product in one single week and to make the move from catwalk to the market a quick and cheap one. This concept of fast fashion is not only beneficial to the customers but gives stores an advantage as the frequent new releases allows for customers to visit the stores more regularly. The fast fashion industry allows for consumers to keep up with the latest trends, but instead of paying a lot of money for the product, the products are made available at a lower cost and along with the low cost comes low quality as
Followed by the brand 's global growth at the end of the 1980s and the following takeoff of new retail ideas: Customer focus reinforces a basic groundwork that encompasses all stages of a fashion value chain (design, industrial, delivery and sale in patented stores). Therefore their consumer promise is also the force behind the combination of their environmental and preservation guidelines used through the group 's supply chain. Zara, has been a groundbreaker in conveying new fashions, new designs, and new ideas rapidly to its stores. Zara’s tenacious thrust of on-trend products into the supply chain channel keeps its stores in stock on the latest fashions at lucrative prices. Lots of their new concepts have come from some of the fashion shows that just ended in New York, Paris and Milan will soon be on Zara’s racks.
By the entire process, Zara can react much faster than its competitors do to both the ephemeral trends in the world of fashion and the capricious tastes of its customers. They have achieved their success by thinking out of the box. Their success is directly related to their ability to understand their customer’s most innate needs and desires and tie these to successful innovation strategies, which ultimately lead to these new and unique approaches to their business. Reference: 1. Case Study 2. www.zarafashion2013.com 3. www.Google.com
And pursuing such a strategy will ultimately preserve companies` market share in the industry. The sports apparel industry is comprised of various enterprises which are responsible for the manufacturing and retailing of sport apparel, accessories and equipment such as running and training apparel, golf wear, baseball apparel and merchandise, soccer and basketball uniforms etc. The industry is so diverse in terms of market players, that the top 5 companies hold approximately 22% of the whole market. More and more companies partner up with fashion designers in order to come up with new appealing clothing styles and widen their product lines. This is surely a good thing, as consumption is bound to increase due to the recent trend of substituting formal and uncomfortable clothes in the office with more casual and sporty ones.
Zara’s own brand and business model is equally competent and valuable because it involves fast turnaround times of quality designer clothing from their own manufacturing factories. It 's also pointed out that this enables them to launch new products every week which attracts customers back even though they do not advertise in order to concentrate their revenue on growing and expanding into more countries like