Monday, 15 June 2015

River island Brand position and Customer profile

 

  BRAND POSITION- River Island is a young British fashion brand founded in London. With an in-house design team, River Island is devoted to ensuring the hottest looks inspired by the catwalk

  TARGET MARKET- Target customers are the fashion aware under-30s.

  PRODUCT SECTORS- Women's wear, accessories, footwear, fragrance, menswear and Childrens wear.

  PRICE POSITIONING- Mid range.

  COMPETITORS-  Asos, Bershka, , H&M, Missguided, Miss Selfridge, New Look s  Topshop.

  Pest

  Political

  Government lowers taxes to increase UK consumer spending.

  Interest rates- historically low at 0.5%. Increase would affect River Island ability to borrow money at a low cost for capital expansion.

  EU- If UK left, there could be more taxes, duties etc. for both importing (sourcing) and exporting within Europe.

  Government is investing in UK manufacturing capability so this could affect River Island sourcing in future.

  Economical

  2014 saw the UK Economy reach its best performance since the 2008 recession hit. 

  Strong pound means purchasing from suppliers is cheaper.

  Inflation - UK CPI dropped to 0.3% in January 2015. 

  Wage growth outpaces Inflation at the fastest rate in 5 years.

SOCIAL

•       The aging population in the UK is growing significantly, by 2030 the number of people aged 65 and over will have grown by 43%.

•       The Grey £- elderly purchasing power. Lipsy does not cater for this market. 

•       Ethical awareness and considerations are more important in recent years.

Fast fashion has enabled a democratic engagement with the luxury of constant novelty, once only the domain of the very wealthy.

Technological

•       Social Media can be used for marketing and communication. 

•       People today are becoming highly dependant on visual communication and marketing.

•       E-commerce growth saw £91bn spent online in 2013 (16% increase from 2012)

•       Only 29% of households owned a computer in 1997, compared with 70% in 2007 and 83% in 2013.

•       7 in 10 people in the UK own a smartphone.

•       1 in 4 people now shop online on a weekly basis, with 1 in 5 consumers spending more online than in stores.

Fashion needs

•       + Likes to keep up to date with fashion trends.

•       + Enjoys experimenting with style and outfits. 

•       + Understands importance of accessories such at jewellery, bags, shoes      and belts.

•       + Takes pride in her appearance.

•       + Wants outfits for special occasions.

•       + Quality is important. 

•       + Likes to buy key pieces. 

•      + Likes clothes that look stylish and sophisticated while still looking feminine

 

CUSTOMER PROFILE

  GENDER: Female

  AGE: 16-35

  CLOTHING SIZE: UK 6-18

SOCIAL-ECONOMIC

  RESIDENTIAL STATUS: Living with parents/ Student accommodation/ Renting

  MARITAL STATUS: Single/ Partner/ Married

  FAMILY: No children/ Young children

  OCCUPATION: Student/ Part-time work/ Full-time work

  INCOME: Funded by parents/ >£25,000

EDUCATION: College/ University


 


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