COMPETITORS Very’s main competitors in terms of digital online retailers are Amazon, Target and Macy’s. The obvious advantage here for Very is it is the only one that directly has affect is Amazon as Target and Macy’s are based in the United States. However having said that in terms of revenue Very is extremely behind all of its competitors. Another competitor that is worth mentioning is John Lewis, although not a digital retailer John Lewis as a department store sells a vast amount of the same products as Very, however John Lewis benefit hugely from having physical stores, which where a huge 67% of their total sales take place. - Rigby, C. (2018) Aside from Amazon all Very’s other competitors have physical stores which could be a massive contributor to Very’s extremely low revenue figures in comparison. A suitable and feasible recommendation for very to get their revenue as high as some of the figures shown in the table would be to open a physical store. (MarketWatch, 2018)
Competitive brand positioning map This brand position map shows fashion brands in terms of their price and how sort after they are. with Basse Couture being a brand that offers a more basic product line, such as Primark. Haute Couture is referring to brands that offer a more high quality product
SITUATIONAL ANALYSIS 2018
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