The Death of Trends: III | JC Report For the past two weeks, we have analyzed the shift from overarching seasonal trends to a constantly evolving blend of eclectic micro-trends. We argued that instead of buying into a signature look or designer ethos, the consumer now focuses on mixing and interpreting these diverse elements in their own, highly personal ways. We also noted that one of the main catalysts behind this no-trend trend is the rise of new media, which allows micro-trends to enter the mainstream and evolve into new trends much more rapidly than the traditional print model allows. The impact of and on retail is the last piece in our sociological puzzle. This week, we examine the ways consumers now buy (and don’t buy) fashion products. Over the past few years the fashion world’s two-season model has been cranked up to lightning speed. Eveline Morel, owner of EM & Co. boutique in Los Angeles, has noticed the shift firsthand. —Erin Magner
The Death of Trends: Part II | JC Report Last week, we introduced the first in a series of articles about the changing face of fashion trends. Rather than having the clear focus and boldface movements we used to see on the runways, the past few seasons have given us a deluge of eclectic “micro-trends”—from floral prints to ethnic detailing, from architectural tailoring to body-conscious silhouettes. We argue that instead of buying into a signature look or designer ethos, the consumer is now focused on mixing and interpreting these divergent elements in their own, highly personal ways. This week we explore one of the driving forces behind this transformation: new media. The fashion industry has always been driven by experimentation and creativity. Until recently, however, everyone who lived outside the major style hubs never saw it—their only exposure to fashion came from shopping malls and the pages of Glamour. Fashion big shots and rising stars alike are now accessible to the masses in a way they never have been before.
The Death Of Trends: Part I | JC Report Back in February 1988, Vogue‘s “Point of View” column constantly alluded to the “right” style. Pants in this category were “narrow over the hip, softer and wider through the leg,” while jackets were “longer, sharply tailored…often graphic in its design,” hemlines were short, the proper color was green and the best accessory a scarf. Twenty years on and the diktats of cool have become much less defined. Elle‘s March 2008 issue advises readers to stock up on cargo pants, mannish trousers, skinny jeans, denim cutoffs and flares, to pair with floral blouses, white tees, pajama tops or gypsy-inspired camisoles. And, while the apparel list seems rather extensive, every proper fashionista’s list of must-have shoes also includes sculptural heels, wedges, gladiator sandals, ballet flats, open-toed booties and moccasins. When it comes to fashion in 2008 the only prevailing trend is that there are no prevailing trends. This is the first in a three part series. —Erin Magner
Finding the Strategic Sweet Spot In October 2010, Gap quietly launched a rebranding of its global corporate identity. The entire launch lasted approximately eight days due to an out-pouring of customer disapproval. In response, Gap came up with another disappointing idea: outsource the redesign to the general public. This move infuriated the design community. In particular, organizations like AIGA (formerly American Institute for Graphic Arts). What did they change exactly? There are many moving components when developing or redeveloping a successful brand identity. find that sweet spot between intelligent design and aesthetics? Take for example the costly failure that was Tropicana’s rebrand by branding agency Arnell Group. The solution is neither a purely visual one nor strategic one. Of course not. Balancing authenticity, good design and giving the people what they want. Striking that golden balance between design trend and big business is difficult. The Incremental Customer Comeback
Consumer & Shopper Insights The dynamics of the apparel industry are changing dramatically. To succeed amid the shifting tides, companies need to build up competence in four disciplines. Few industries require companies to stay as nimble and on their toes as the global apparel business. At a baseline level, there is the fast-moving nature of fashion, which requires companies to jump on trends right away, never taking the fast follower approach. That alone gives the apparel business a unique set of challenges. Today, however, additional dynamics are stirring the pot. The size of the global apparel business is growing and is expected to generate double digit growth between now and 2020, much of it coming from developing markets. The apparel business also hosts some of the world’s most rapidly growing companies. All of these challenges come with great opportunities. There is double economic pressure on stores these days. The signposts: seven trends Moving targets. Sustainability. Digitization. Channel convergence.
Lifestyle brands can grow significantly in next five years if they address international expansion challenges, says report A study conducted by Conlumino on behalf of Pinsent Masons, the law firm behind Out-Law.com, found that the retail sector is likely to experience "fairly modest" growth in general over the next five years, but that lifestyle brands are set to grow in size at a much faster rate. However, it warned that brands must address a number of issues and challenges to make the most of the growth opportunities in the lifestyle segment of the global retail market. "At the commodity end of the spectrum everyday products which form the mass and value ends of the market are seeing relatively anaemic growth overall and a slight shrink in real terms," the 'Lifestyle Brands: Revealing The Secrets Of Global Success' report said. "Perhaps the most interesting segment, however, is that of lifestyle brands. The report identifies 'lifestyle brands' as brands that "create appeal by suggesting a certain lifestyle" and "confer a sense of identity on the person who buys them".
Cohn & Wolfe - Practices We found: Authenticity in business beats product utility and innovation, across all 12 markets surveyed: Authentic characteristics such as communicating honestly about products and services (91%) and environmental impact and sustainability measures (87%) are more important to global consumers than product utility (61%), brand appeal (60%) and popularity (39%). Authenticity AnchorsClick to expand Authenticity has a positive impact on the bottom line: 63% of global consumers would buy from a company they consider to be authentic, over and above competitors. 47% would be happy to work for them and 23% would invest in a brand they believe to display authentic qualities. Those in fast-growing economies are twice as likely to invest in authentic brands as respondents in slower-growing countries (31% vs 15%). Effect of Authentic Companies on ConsumersClick to expand Top 20 Global Brands Click to expand Global Anger Meter MapClick to expand Most Authentic SectorClick to expand
Experience retailing – adding value to the customer journey ‘Experience retailing’ isn’t a new phenomenon, it’s been around for decades, but the stakes have been raised and now for retailers to stay ahead of the game they must deliver an all encompassing in-store experience that adds value to the customer journey. IBM recently reported that consumers are increasingly purchasing through multiple retail channels and mass adoption of ‘showrooming’ – where shoppers price check and buy online while in-store – mean that retailers have to try that little bit harder to drive engagement in their physical space. The secret of retail success today is a cohesive multichannel approach, which includes a clearly defined role for a bricks and mortar retail environment. It’s no longer enough to stock shelves with goods at competitive prices and expect customers to make their way onto the High Street and through your door. A fantastic example is G Plan’s ‘sit test’. Education & Engagement Also consider how to educate a shopper about the brand, product or service.
UK Economic Outlook Employment in the UK could grow by around 3 million by 2025, with the total number of jobs reaching almost 37 million.Education and health could add over 1 million jobs by 2025 and become the biggest of the services sectors.Business services could create around 1.5 million more jobs by 2025 and will become the second biggest services sector, with distribution, hotels and restaurants in third place.The number of jobs in manufacturing could fall by a further 600,000 to around 2 million by 2025 as new automated technologies continue to boost productivity and overseas competition remains fierce. But this should be far outweighed by the growth in private sector services jobs. For more details, please download the article and explore our jobs data analysis using the interactive tool below.