Top Store Marketing Blend
According to Mintel (August 2003), UK consumers carry on spending on clothes, even when they may be cutting back in other areas, with total customer expenditure upon clothing in the united kingdom reaching ВЈ34, 825 million in 2002 - a 25. 3% increase compared to 1998. This kind of exceeds the growth of total consumer expenses in the UK above the same period. Although the rate of year-on-year sales expansion slowed slightly in 2003 as the buyer boom of 2000 and 2001 cooled, the slow down in fashion retailing has not been because abrupt like a observers expected.
Specialist clothes retailers, just like Topshop, Up coming and DIFFERENCE, account for the greatest share of spend, attracting between 68%-71% of all customer expenditure in clothing during 2002. Department stores, sports products retailers and mail order houses as well vie for any share of shoppers' wallets and handbags but these are not so well positioned as some from the specialists as a solution quickly to emerging fashion trends.
That's where retailers just like Topshop, H& M, New aspect and Zara have created a popularity, with their capability to pre-empt newest catwalk designs at affordable prices device shortest possible business lead times.
Topshop features undergone a remarkable transformation because the mid nineties, changing via a straight down market supplier for the country's teenagers to a seriously cool, trend-setting brand. Its success has made Topshop a retail sensation on the traditional, enjoying an enormous growth in sales profits and carving out a distinctive personality with an individual manufacturer mix.
It continue to be headline in nearly every vogue title and broadsheet, establishing a popularity for delivering innovation and style to the high-street. While many various other retailers belatedly copy the most recent look, Topshop frequently models the goal. Topshop has received numerous understanding in recent years - style holy book 'The Face' called Topshop " a dream factory that initiates and innovates, and creates a unique fashion", whilst i-D said: " May Topshop do no incorrect? "
The Telegraph declared: " Blink and you will probably miss that... with 300 new designs every week, Topshop, once famously naff, is currently just as famously cool. " Topshop has changed into a multi-award successful brand, bringing in numerous industry gongs.
That they include staying nominated as being a 'Cool BrandLeader' in 2002 and 2001 to 'The most exciting place to shop on the High Street' from Glamour and a 'Best Shops in the World 2003' Award from The Face. Additional time shopping honours 2002 awarded Topshop with all the 'Best Womenswear Award' and In-Style the year 2003 awarded the 'Best Classic award'.
The driving force behind the transformation of Topshop is Brand Overseer Jane Shepherdson and her team, that has been scored as one of the fashion industry's most influential numbers. Along with her group of customers and designers, gut instincts are used to introduce elements that they can feel are right for the rand name. This is a concept that is obviously paying payouts - with 295 retailers in the UK and a further sixty two international retailers.
Although Topshop itself was launched in 1964, its parent company, The Arcadia Group, dates back to early 1900s when Montague Burton launched it with an investment of ВЈ100. At first the menswear chain Burton was the company's principal manufacturer, but the start of Topshop in the 1960s took the Group into the could fashion market. It was a tiny start, with Topshop in the beginning only having space in a Sheffield variety store called Peter Robinson.
A year later, similar store given Topshop space in the cellar of its Oxford Festival store in London. In 1974, Topshop was taken out of Philip Robinson and place up as a standalone dealer, catering intended for 13-25 year-olds. In 1978, a boys' and young mens version, Topman, was introduced and in 1982, Top Woman, for 9-14 year-olds. In 1992 Topman and Topshop combined causes at 214 Oxford Circus to create the world's most significant fashion retail outlet. In 1996, the change in exterior opinion of the brand began when Vogue identified the...