Unit 31 Fashion Retailing- BTEC Business Level 3 (GC0287)
Table of Contents
Introduction.
P1 Explaining the Characteristics of Target Markets of Diesel and Burberry.
Retail Outlets.
Characteristics of the target market of Diesel and Burberry.
Fashion cooperative target market segmentation of Diesel:
Fashion cooperative target market segmentation of Burberry:
P2 Explaining the policies adopted by Diesel and Burberry.
Retail policies of Diesel
Retail policies of Burberry.
P3 Describing the factors that influence the fashion trend.
Celebrity, Art and Design, and Season.
Target market segmentation.
Social and Cultural Differences.
P4 Impact of different fashion trends on retail services.
P5 Explaining the image of Diesel and the way it meets the needs of its target market
P6 Explaining three differences between fashion retailers catering for a mass market and those catering for a niche market
Diesel
Conclusion.
References.
Introduction
Nowadays fashion retailing is very tough for retailers. It is so challenging to maintain competitiveness in the fast-moving fashion retail marketplace. Everyone wants to make the best profit. So the retailers offer various discounts and new collections of updated fashion. Advertisement for a new collection of jeans, a t-shirt for men and women can make better profits than ever. In this respect, social media like Facebook can contribute to retail marketplaces. This report will provide many issues regarding fashion retailing in the United Kingdom focusing on two specific fashion companies named Diesel and Burberry. Diesel is an innovative international lifestyle company, producing a wide-ranging collection of jeans, clothing and accessories. Since its creation in 1978, Diesel has experienced extraordinary growth and has evolved from being a leading pioneer in denim into the world of premium casual wear, becoming a true alternative to the established luxury market. Burberry Group plc is a British luxury fashion house headquartered in London, England. Its main fashion house focuses on and distributes trench coats, ready-to-wear, fashion, accessories, fragrances, sunglasses, and cosmetics (Barberry, 2016).
Established in 1856 by Thomas Burberry, originally focusing on the development of outdoor attire, the fashion house has moved on to the high fashion market developing and creating the first of its kind fabric called Gabardine, which is completely breathable and waterproof, exclusively made for the brand. The first shop opened up in the Haymarket, London, in 1891
P1 Explaining the Characteristics of Target Markets of Diesel and Burberry
Retail Outlets
Retailing is the procedure where the sellers offer the products straight to the end-users. The main retail outlets are summarized as below:
Departmental Stores: A department store is a retail establishment offering a wide range of consumer goods in different product categories known as “departments”. In modern major cities, the department store made a dramatic appearance in the middle of the 19th century, and permanently reshaped shopping habits, and the definition of service and luxury. Department stores today have sections. They sell different items such as clothing, furniture, home appliances, toys, cosmetics, houseware, gardening, toiletries, sporting goods, paint, and hardware and additionally select other lines of products such as food, books, CDs, DVDs, jewelry, electronics, stationery, photographic equipment, baby products, and products for pets. Customers check out near the front of the store or, alternatively, at sales counters within each department. Some are part of a retail chain of many stores, while others may be independent retailers. In the 1970s, we came under heavy pressure from discounters. Since 2010, we have come under even heavier pressure from online stores such as Amazon.
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Discount Stores: A discount store is a retail store that sells products at prices that are lower than the typical market value. A “full-line discount store” or “mass merchandiser” may offer a wide assortment of goods with a focus on price rather than service, display, or wide choices – such as Diesel and Burberry. Discount stores are not variety stores, which sell goods at a single price-point or multiples thereof (£1, $2, etc.). Discount stores differ from variety stores in that we sell many name-brand products, and because of the wide price range of the items offered. Nowadays a number of retail establishments in the U.K. began to pursue a high-volume, low-profit-margin strategy designed to attract price-conscious consumers. This strategy has received rented interest from retailers and customers alike stemming from the Great Recession that began in 2007 that forced buyers to revisit the approach to the products we wanted.
Supermarkets: A Supermarket is a self-service shop offering a wide variety of food and household products, organized into aisles. It is larger and has a wider selection than a traditional grocery store, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market. Some supermarkets also sell a variety of other household products that are consumed regularly, such as alcohol (where permitted), medicine, and clothes, and some stores sell a much wider range of non-food products: DVDs, sporting equipment, board games, and seasonal items (e.g., Christmas wrapping paper in December).
Warehouse Stores: A selling system that limited times in bulk amount on discounted prices is known as warehouse store. Warehouse stores do not concentrate much on the interiors of the shop. In addition, goods are not appropriately presented.
Mom and Pop Store: Mom and Pop stores are the little shops directed by persons in the local community that offer everyday products focusing on the needs of local community people. We present to offer a specific range of products and are not organized. The area of the store is not large which is depending on the owner’s ability. We do not present high-end goods. We retail Medicines, Bread, Eggs, Toys, Cereals, Pulses, Cigarettes, and Stationery.
Specialty Stores: Specialty stores focus on specific goods and would not sell anything else not including the particular collection. Specialty stores sell only selective items of one particular brand to the consumers and primarily focus on high customer satisfaction. For example, Reebok sells Reebok goods and nothing else creating it a specialty store. Customers can never get Adidas shoes at a Reebok.
Malls: When many retail stores operate in a single place it is called the mall. A mall would consist of numerous retail stores that sell their individual goods in a common selling platform.
Online: Nowadays the consumers have the choice of shopping staying at their home. We can buy through the internet; we can pay by credit or debit cards. In this case, the retailers send the product to the customers’ homes. There are chances that the goods ordered might not be delivered on time or the products might be faulty. This type of shopping is suitable for those who have a very tight timetable and are unwilling to visit retail stores. In this type of shopping; customer can save their transport costs and time………..
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