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Fashion industry

INTRODUCTION

The fashion industry today is an extremely complex network. We have the marketing research people, who research the needs of the consumers, then we've the designers who design the clothes, we also have the manufacturers who produce the apparel and we've the marketers and suppliers who sell the merchandise to the consumers. The finish consumer tendencies is always changing and it getting very difficult to determine what the consumer desires. To be able to deliver the right product, at right place, right volume, and right quality to the right customers is now more and more challenging. Eventually all the finished products have to reach the ultimate consumers and here the role and responsibility of the suppliers has become more essential [1]. Retailing is the procedure of buying and providing goods to the ultimate consumers. During the last couple of generations the retailing has been subject to severe changes. Especially in the 1980s the departmental stores confronted difficulties with the merger mania. During this period we've seen the introduction of different varieties of retailers such as discounters, string organizations and hypermarkets. With the changes of trends and the shopping experience of the consumers, the movements in retailing have been changes after all the retail business is itself built on change [2].

Today the retailing process has changed from the traditional ways to more and more modern ways. The present merchants can be grouped into the pursuing ways:

  • Retail branch companies
  • Voluntary multiple chains
  • Integrated wholesalers
  • Franchise
  • Section stores
  • Mail requests/Internet
  • Outlets
  • Independent outlets
  • Boutiques / Principle stores.

Each of these listed sellers has their own uniqueness. In particular the boutique theory has got an extremely long record. Boutique is a term originated from French which means little shop[1]. Everything began with the Paris couture houses which allowed the customers to buy perfumes and accessories. The Boutique has surfaced on the United States, United Kingdom, Italy, Germany etc. with different topics. Over the time the boutique notion has relocated to an extremely individualized and professional merchandise intended to a well defined and a slim selection of customers.

In the late 1990s a few of the European sellers extended the boutique notion to a life style theme. These boutiques were termed as 'principle stores' and were customized in cross-selling of different products under one roof covering without the utilization of independent departments [3]. These strategy stores highlighted products ranging from very high prices to modest prices dealing in mere creator clothes and/or homemade styles and/or trendy accessories and/or old-fashioned clothing [1]. The concept stores mostly take products of different mix of brands and products [4]. These stores are facilitating partnerships to permit the concept, therefore securing in conditions of total buying. Objective is to deal with edges with the aim of creating "strategy stores". Concept store's idea would rather be the procedure related to elite and highly specific course. Below is the image of the Kisan idea store in the New York City [5].

But now a day this concept has been applied to the normally mass market highly expensive goods that are intentionally made at small number to keep the uniqueness of the product. Today the concept stores run with a particular consumer at heart and having the different brand's product in it which could be apparel ranges, books collections, rings, fragrances, & furniture etc. The idea is exclusively (however, not primarily) while it urges to the relationship between the customers and products quality. Among the first idea stores to open up was '10 Corso Como' in Milan, Italy. This is followed by 'Colette' in Paris, 'Quartier 206' in Berlin. The idea of 'theory store' hasn't only restricted to the style industry but has also transferred to electronics with brands such as Apple, Dell, Microsoft etc. starting their strategy store to showcase their latest innovative products.

The idea of an idea store is very complicated and as mentioned above has been changing over time. The idea of these stores is also quite different in several locations. Hence there is always a discussion about the near future trends of the concept stores. This newspaper is an attempt to discuss the answers to such questions which are the following:

  • What is the idea of a concept store?
  • What are the products and services offered in an idea store?
  • How would be the customer experience in such strategy stores?

1. METHODOLOGY

The purpose of this statement is to review the concept of a concept store. This can be possible only once a practical case has been studied. The aim here's present a functional case which can be well recognized with theoretical studies from various literatures and resources. Hence Storm Fashion, an idea store in Copenhagen, Denmark was chosen and an intensive study was carried out. The info about Storm Fashion was gathered from various electronic sources. In addition to this the Storm store was seen and the dog owner Mr. Rasmus Storm was interviewed. Further, the customers of Storm Fashion were asked for their opinion and show their activities.

2. STORM FASHION:

Copenhagen city has lot to offer for fashion industry, though it is not considered to be among biggies such as Paris, Milan, London or NY. Copenhagen offers a great deal of potential which has been proven by the actual fact that several Danish designers have been utilized completely by international fashion houses [6]. Witnessing the potential for the luxurious market several brands such as Prada, Potential Mara, Chanel, Hermes and Louis Vuitton, Gucci etc have opened up their stores in the posh localities of Copenhagen. Today Copenhagen has established itself as a fashion metropolis of the northern Europe with several inside brands and notion store.

This prospect of luxurious and unique products was learned by Mr. Rasmus Surprise and with this raise he exposed the Storm idea store in the entire year 1994 at Elmegade, the North Bridge, Copenhagen. In the entire year 2001 the store was shifted to St. Regnegade in the central of the Copenhagen city. The aim of Mr. Rasmus Surprise was to provide top notch unique products to his customers. Soon the Storm store was one of the very most recognized and trend setting strategy stores. It was main stores to support world class brands such as Thom Browne, Dries van Noten, Ralph Lauren, Comme des Garcons, Raf Simons, Chloe, Ann Demeulemeester og Haider Ackermann. He not only limited his store for only fashion products but also lengthened it wide range of products such as cosmetics, photography, DVD films, music and catalogs on art and fashion [7].

The surprise store contain the products which range from leading Danish and international custom made brands, like several of them on often within Copenhagen. Because of its uniqueness and its own popularity Storm store has received the Danish Fashion Honor for best retail space was given to Storm in planting season 2008. A lot of the products viewed in the Surprise store are handpicked by Mr. Rasmus Surprise who travels all over the world for the best and unique products [8]. The most important thing for the selection of products is networking where different designers and music artists are fulfilled for motivation. Below the merchandise offered in the Surprise store have be quickly described.

3. 1 Men's clothes

The clothing range has the artist touch of any classic, archetypal college quality in a simple and proclaimed by seriousness, gravity, solemnity. The Store has leading brands such as Dior Homme, Burberry Prorsum, Dries van Noten, Gitman antique, Junya Watanabes, Visvim etc. The collection is seasonal and also contains decided on shoes and boots of brands such as Band Wing, The initial vessel boots etc. A number of the products are show below

3. 2 Women's clothes

We can see the delicious typical touch like French Chloe in the Women's clothing. The collection includes the delicate and special things belong to the exciting Belgian artist Haider Ackermann Colombian, Ann Demeulemeester Parisian misc/fashion duo Kitsune, Swedish Burglar etc. A number of the products are shown below [7]:

3. 4 Skincare and Newspapers:

Storm has which is always in touch with the latest updates from fashion and design world. Surprise has catalogs and newspapers of Fantastic Man, Knick Knight, Nils Strk, Stephen Sprouse, Albert Watson, Camouflage etc. Surprise also offers natural skincare, hair maintenance systems from Bumble & Bumble, Dover Block market, Mayday Mayday etc [7].

3. 5 Accessories:

Storm also offers wide range of product for both men and women by means of fragrances, eyesight wear, handbags, lighters, sneakers, candles, watches etc. Surprise offers very unique products such as Zippo X Ambush lighter weight (available in only 2 sellers in European countries), Mismo X Storm, Fat Cat Products X Surprise etc [7].

3. 6 Store Appearance:

The Surprise store was created by Leif Jёrgensen from LLLP and he tried out to combine the feminine and the masculine styles combined with use of materials like wine glass and wood prominence. The central target was to keep the store very clean with simple colors such as white, wood and black therefore the target is on the clothing, other products rather than the store itself. The interiors of the surprise store can be seen below

3. ANALYSIS

A SWOT examination was done to analyze different factors that affect the performance of the Surprise theory store.

4. 1 Strengths

One of the key strengths of Storm stores is its capability to showcase products that are unique and incredibly diverse. With this uniqueness and variety, the Storm store has attained an image which includes earned its own individuality. Storm store will not seem to end up like any other store but has its unique identity and reputation. Another important strength of the Surprise store is its leadership by means of Mr. Rasmus Storm who may have a great interest and eye-sight. Mr. Storm is always travelling around the globe searching for new designers, painters and products [8]. The best example is the Zippo X Ambush lighter weight which Mr. Surprise helped bring from Japan. Another strength of Surprise store is products that are amalgam of tender and elegance touch. The store presence is also one of the generating forces for the customers to come in. Especially the interiors which are extremely clean and don't steal the target from the merchandise displayed. Another durability of the Surprise store is the client experience with a good reception. The stores personal is very warm and are always helpful in finding the right products for the clients [10].

4. 2 Weakness

One of the key weaknesses of the Storm store is its webpage which is very limited with the info, products classification etc unlike the French notion store Colette which includes got a good webpage. Far more can be done with the website as most of the customers today are tending towards the net experience of anything. The web page also does not have the web shopping which is very different for a store like Surprise. The webpage will not even keep carefully the database of the clients and the client choices which have to be attended to. Another weakness that was inferred from the clients is that the merchandise sold are way too expensive [10]. Although Surprise was founded in the year 1994, it still has only 1 store. Keeping in mind its popularity and uniqueness, the Store can be broadened to other locations. The Surprise store does not bring products from leading brands like Chanel, Prada, Gucci etc which it used take a few years ago.

4. 3 Opportunities

Storm fashion has got a good reputation not only in Denmark but also in Sweden, Norway, Germany etc. Though it was proven 15 years ago they have its occurrence in Copenhagen city only and offers a great potential to extend into other metropolitan areas. Hence the store may be widened into other locations such as Stockholm, Paris, Berlin etc. The webpage can be revised to support feature such something classification, virtual clothing, web shopping etc. Although the merchandise offered at the Storm store are much diversified but there is still room for more diversification. This is further explored. Surprise Fashion is very high-end targeteting people with quite a lot of money, it would be nice if they had some less expensive stuff but still kept their profile as being exclusive and nice [10]. The Surprise store can also focus on a few customers catering their options and tastes and offer some very exclusive products accordingly.

4. 4 Threats

One of the key dangers for the Storm store is the introduction of new strategy stores in the Copenhagen city which have a tendency to maintain the same exclusivity. A best example is Real wood Solid wood store which is in the next to proximity of the Storm store. Another common weakness is the counterfeit products. Although Storm offers very exclusive products, obtaining a counterfeit product is becoming very easy nowadays. The Economic crisis has also played its part in the Storm's development rate. Especially the fluctuating currency exchange rate of the Danish-Swedish kronor has reduce the customer buying from Sweden. Due to this Storm has been lost almost 15% of its earnings for days gone by couple of years [8].

4. 5 Key Success Factors

Some of the key success factors of Storm have been posted in the desk below:

Key Success Factors

LOW

     

HIGH

1

2

3

4

5

Brand Value

         

Product Range

         

Advertisement

         

Consumer Experience

         

Web experience

         

Leadership

         

Price Range

         

Growth rate

         

In almost all of the conditions the smartly designed strategic plan gets the potential to assimilate the performance of company. But low thoughts are given to employing, accountability and performing for the success of business, while there are numerous factors that can be present as the main element success factors for just about any business or for products. Predicated on the above debate we can merely sum up the idea that the Storm store has a good brand id as compare to the other principle stores in Denmark. This is due to the product range they feature with their valuable customers, they may have very reliable products that happen to be decorated according to the consumers' tastes. Also Mr. Rasmus Storm kept this in such a great management that his store is now one of the famous notion store in Scandinavia and it has additionally triumphed in the best idea store's prize in Denmark in the year 2008. The factor behind this success is the uniqueness and product range but although they have unique products but with very high price that might be the one the idea which could use the contrary way. Another site where they are lacking is their web experience for his or her customer's and same shadow protects the advertisement multimedia. They must go for the new web features and easy customer's program portals to stay on the hoopla in this recession time.

The Storm store has been very successful and there continues to be a lot more room for growth both in terms of sales and occurrence. To do so, there are some issues which may have to be dealt with.

5. 1 Web Experience:

The website of Surprise store is not very exciting in comparison with its counterparts. Hence much more can be carried out to improve it. The first and the most important things that needs to be done is the addition of the product catalogue which could classify the merchandise into different categories. This will make the customer to find the product he is looking straight without wasting whole lot of the time. The other thing that you can do is the intro of web shopping. Web Shopping is a process where the customer can log on to the web page and choose his products and do the payment online, and then the products will be delivery to the location mentioned by the client [11]. The web shopping business keeps growing very rapidly, a very good example for this the www. youheshe. com which is doing very good business. The net shopping can not only make people buy the products using their company homes but will allow the sales of products to the customers who cannot access the Surprise store (Demographic advantages). The net shopping will also permit the customers to choose the products at whatever time they like regardless of the store opening or shutting times.

Another significant thing that you can do is maintain the customer repository. The success of business can be measured by the relationship with the customers, therefore the information technology systems have designed the web dish through with customers' responses and demands can be observed by day to day basis on growing in acceptance. (CRM) Customer relationship management is not just a web application developed, but it's a procedure for find out about the customer's behaviours and their needs in term of creating the stronger relationships with them [12]. In other means we can use this CRM to connect to customers in effectively and efficiently manner. Nevertheless, successful CRM depends on the utilization of sufficient technology. If this is considered for the Storm store, it could be implemented in the webpage which will allow monitoring the customer's options and feedback. We are certain to get the details regarding the customer's choices, flavor, ambiance and their buying ability so we can combine the accumulated data and have the better results. After the customer login to the website and seek out their products, it will enable the store to offer the customers with the preferred choices founded upon their prior online behavior. This will clearly save the customer's important time plus they need not search for complete products amounts while on the other hands customer will not get irritate by not battling for the merchandise they need.

Using the internet and the CRM program we can also bring in a concept that gets the potential to be the next big thing. It's called the 'virtual wardrobe' and when this works out it can perfectly be the competitive advantage over the internet for fashion brands wanting to increase their market bottom part while at the same time keeping the exclusivity factor real [13]. This digital wardrobe perfectly fits into the idea of the Surprise store. The virtual wardrobe shall include the concept of keeping an internet wardrobe of all items that a customer has bought over the internet so that whenever a customer goes to buy a new product he/she goes into their online wardrobe and sorts through the items there to see which ones they have already bought so that they can choose another product that is matching with their choice after finding their closet [14]. In this manner a person online profile is made based on the options that they have made of their clothes which can then be interpreted by profilers of the brand to evaluate the characteristic of these client. This idea has a lot of potential for the reason that it can seek to recognize the personality of the customer predicated on their options and after that the brands. This can even be used as a tool for gauging the devotion of a customer in line with the number of items which can be found in the clothing collection. Customer satisfaction surveys can relate with the knowledge that the customer had when using this web request. The possibilities are countless. It's simply a subject of using ones creativeness.

The Surprise store has a great prospect of growth geographically. Given the mandatory financial assistance, the Surprise store can be extended to other marketplaces such as Stockholm, Paris, Berlin, and New York etc. The merchandise line may also be diversified by collaborations with different artists and designers. It could collaborate with designers and painters from countries like India which is home for various culture, top notch craftsmanship, music, literature etc.

5. 3 Marketing:

Marketing as a technology requires a volume of features that are an essential and vital to the success of the organization. Although marketing nowadays is an extremely extensive term yet there are some areas of marketing that are not going for a more interactive role with the consumer. Marketing does not mean spending plenty of money on advertising. There are various cost efficient means of marketing. Among such way of marketing is the viral marketing. Viral marketing, as the name signifies is word of mouth marketing where a group of people are told about a certain product, service, store etc and those people propagate those words to different people there by setting up a chain effect. This will allow that product, services, store to become popular. Viral marketing can be carried out in many ways and is affected by many factors. The simplest way of spreading the good will is by shear customer experience. After the customers come to a store and confirms what they wants, then obviously they would recommend the store to their friends. This would make others considering the store there by increasing the customer move and sales.

Other easy way of marketing the Surprise store is by using SOCIAL MEDIA Sites such as Facebook, Twitter, MySpace, Orkut etc. A profile of the Surprise store can be created in these sites and information about the new arrivals, savings etc can be kept up to date regularly. This can also permit the customers to write about their experience, recommendations, feedbacks etc. This medium can also be used to meet up with the customers and find out about their ideas. The Storm may also create a person club where it can organise different activities such as exhibitions, gatherings etc. This will keep the customers more loyal builds up a good trust into the store.

The Storm store which began as a tiny store is currently extremely popular among its customers because of its unique personal information. This personality has helped it to become one of the well mentioned stores in the northern Europe. The authority of Mr. Rasmus Surprise has played a major role in the change of the store into a global category one. By putting into action the above advice, the store and its individuality can reach a larger customers and locations there by increasing the earnings and the brand personal information.

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