Literature research methods and review
- LightofNJ
- Jan 3, 2019
- 3 min read
PROVIDING FAST FASHION AS A COMPETITIVE PRICE POINT AND STIMULATING FASHION EDITORIALS , THE DISTINCTIVE BRAND IMAGE, ASOS ALWAYS ENSURE TO PLAY A ROLD ONE STEP AHEAD THAN THEIR COMPETITORS, HOWEVER ASOS HAS BENEFITED FROM ITS PURE PLAY POSITIONING . IT TARGETS A MARKET THAT IS FULL OF INTERNET USER GROSSLY TWENTY SOMETHING.
IN SOME OF LIFESTYLES , THE PACE OF CHANGE IS SLOWER, AND IN OTHER LIFESTYLES THE SPEED IS GREATER. THREE THEORIES OF FASHION MOVEMENT EXPLAIN THE DYNAMICS OF FASHION ADOPTION. ASOS AS A BRAND FOLLOWS UNDER THE TRICKLE ACROSS THEORY. THIS THEORY ASSUMES THAT FASHION MOVES ACROSS GROUPS WHO ARE IN SIMILAR SOCIAL LEVELS RATHER THAN DOWN FROM A HIGHER LEVEL TO A LOWER LEVEL. THE THEORY ACKNOWLEDGES MASS PRODUCTION, MASS COMMUNICATION , AND AN EMERGING MIDDLE CLASS CONTRIBUTED TO A NEW DYNAMIC THAT BEGAN AFTER WORLD WAR 2. IN THIS THEORY THE PACE OF ADAPTION IS RAPID, fast fashion is an example of trickle across theory .
The key ideas of this theory are;
· the adoption of new trends by all socioeconomic groups simultaneously
· Consumers preference from a large scale of existing trends
· Within each socioeconomic group there are fashion innovators that meet their preferred fashion and price range demands.
· The flow of fashion information and individual influence in the fashion world ‘trickles across’ each socioeconomic group. (Trickle across, 2016)
MArketing intelligence:
Keeping track of your competition and the state of your industry is an integral part of operating any business. Traditionally, that information has been termed "market intelligence."
The following statistic presents the share of consumers planning to shop online or, alternatively, on the high street on Black Friday in the United Kingdom (UK) from 2015 to 2018. According to the most recent survey, 73 percent planned to shop online on Black Friday compared to 27 percent on the high street.
In 2017, market leader next.co.uk generated 1,2 billion U.S. dollars via the sale of clothing articles in the United Kingdom. The online store johnlewis.comwas ranked second with a revenue of 1 billion U.S. dollars.
When it comes to UK consumers searching for their favourite fashion brands affordable fast-fashion is the winner with Asos and New Look sharing the top spot with more than 4 million searches, followed by Topshop and Boohoo in second place with over 2 million. (Wightman-Stone, 2018)
MACRO TREND ANALYSIS:
Since ecommerce is the trending topic right now so it become easier for influencers, bloggers or may be a common people to show their opinions about their lifestyle and become a celebrity easily .People are more concerned about living a lifestyle that close to nature THROUGH BACKPACK TRAVELLING AND NATURE PHOTOGRAPHY PEOPLE SHOWS THEIR INTEREST TOWARDS THESE TREND . IN OUR BUSY LIFESTYLE WE PREFER TO WATCH A MOVIE OR SERIES THATS EASILY ONLINE AVAILABLE , WE WANT MOBILITY IN OUR LIFESTYLE ; ANOTHER MACRO TREND FOR OUR THEME IS TRULY INSPIRED BY THIS NATURE OF CONSUMERS. MOST SPECIALLY THIS TREND IS VISIBLE AMONG WHO ARE FUN , YOUNG , INDIVIDUALS AND WANT TO ACCESS EVERYTHING FAST. ACCORDING TO VALS FRAMEWORK THIS TYPE OF CONSUMERS ARE KNOWN AS SEEKER .
references:
Rousso, C. (2012) Fashion Forward: A Guide to Fashion Forecasting. New York: Bloomsbury Publishing
Trickle across. (2016). [Blog] charlottecolleyblog. Available at: https://charlottecolleyblog.wordpress.com/2016/04/10/trickle-across/ [Accessed 3 Jan. 2019].
Wightman-Stone, D. (2018). H&M is the web's most popular fashion brand. [online] Fashionunited.uk. Available at: https://fashionunited.uk/news/retail/h-m-is-the-web-s-most-popular-fashion-brand/2018071630755 [Accessed 3 Jan. 2019].
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