Outskirts - Fashion Buying & Merchandising Project

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FASHION BUYING & FASHION MERCHANDISING BIANKA RENN

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EMESE BAKO J I M E N A S I LVA CA M AC H O S I LVI A L U I S E CA M PA N A

MASTER IED IN FA S H I O N M A R K E T I N G

INDEX

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INDEX

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RETAIL

RETAIL PROBLEMS

9

BOUTIQUE PROBLEMS

11

TRENDS

RETAIL & BOUTIQUE TRENDS

13

OCCASIONWEAR MARKET RESEARCH

14

TARGET

GENERAL DESCRIPTION & SHOPPING BEHAVIOUR

21

EXPECTATIONS

25

SOCIAL BEHAVIOUR & HABITS

26

SPECIAL OCCASIONS PURCHASING BEHAVIOUR

29

PROSPECT TARGET

30

OPPORTUNITY & SOLUTIONS CONCEPT

37

SPACE

40

SERVICES

42

FASHION SELECTION

PRODUCT TRENDS

51

BRANDS – FUNCTIONS

52

70

THE BUYING PROCESS & ASSORTMENT PLAN

ITEMS – SIZES, COLORS

104

106

BUDGET PLAN, OTB & MARKDOWNS

BOUTIQUE PLACING

109

LAUNCHING EVENT

111

CONCLUSION

115

RETAIL

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RETAIL

RETAIL PROBLEMS During the last decade a big difference has been noticed to what concerns retail and its sales performances. These changes are a reflex of the behavior change of customers, who along the years became familiar with the online shopping experience and its advantages. In the age of Amazon, it’s no longer necessary for a consumer to step out of the house to buy something. Whatever he/she needs or desires is available on e-commerces and can in some cases even be delivered on the very same day of the purchase. Studies made by Bain & Co estimate that by 2025 online sales will represent 25% of the market, which has a direct effect on retail sales performance. The so said change of consumer’s habits, going from offline to online, may lead to boutiques shutter and to the possibility of department-store bankruptcies. Due to these threats “the end of retail” is a topic in constant discussion.

Nevertheless, nowadays most luxury brands believe that direct retail is the most powerful channel to deliver to consumers the company’s value and identity. As the wholesale distribution model comes with inventory risk and high working-capital, many luxury brands are reducing their wholesale distribution for both online and offline, and focusing on retail.

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RETAIL

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BOUTIQUE PROBLEMS When it comes to boutiques, it is known that the offer they have is a small selection of pricey garments, accessories and shoes. This exclusive selection, due to its cost, is primarily directed to please women who have a medium high acquisition power, and being so are in their majority over 30 years old.

Once created this distinction targeting a certain type of economically established woman, boutiques build an exclusivist and overall uninviting atmosphere inside the stores. Anyone who doesn’t fit the proposed customer profile might not feel welcome inside these stores, where sales assistants tend not to be very friendly or qualified to interact with potential e.i. younger customer.

The lack of space inside the store can be intimidating for a customer who might just want to come in and have a look around getting familiar with the products. Moreover, not only the small physical place might bother customer, but also the fact that boutiques are small in terms of offering and outdated. Furthermore, in order to cover all of the costs of a small shop, products sold tend to be more expensive in small town boutiques then in bigger cities or online.

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TRENDS

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TRENDS

RETAIL & BOUTIQUE TRENDS Changes in retail have been numerous in recent years thanks to the rise of the e-commerce and now significant numbers of independent retailers, malls and department stores have been closing either to focus on the e-commerce or just being part of the so called “death of retail� wave that left brick and mortar incapable of keeping up with its newly informed and always connected customers.

According to CB Insights, large retail spaces are closing and smaller ones are shattering too, but nevertheless, physical retail is not disappearing.

The purpose is just evolving. One of the major areas of expectations from customers involve customization and personalization. These changes can include various forms of tools and services from using high end technology to expert staff and customer service and using different channels of communication to then transform data into valuable customer insight and provide a more personalized experience or product.

Focusing on the individual is a big retail change that has been in course of changing the past few years and is continuing to evolve as customers have higher and higher expectations. The customer on the other hand is becoming more loyal as a response to these personalization changes and is more likely to stay with a brand that will fulfil these needs. The benefits of the brand are clearly getting more insights about its customers and thus being able to provide the overall experience with the gained data.

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OCCASION MARKET RESEARCH According to research done by the Business of Fashion, the lines between daywear and eveningwear are significantly blurring thanks to the change in customers purchasing behaviours.

While the eveningwear market is shrinking, the occasion wear is capturing new ground is on the rise. The changes in wardrobe of the so-called one percent and the idea of status evolving and changing in recent years. Today’s consumers are constantly busy, balancing personal and professional life and spending more in other areas such as travel, which then become values for professional life and entrepreneurship.

Today’s consumer is becoming more global and open minded and the wardrobe reflects these changes also in terms of investment and versatility.

With the rise of fast fashion and direct to consumer brands, the special occasion market has changed and became more versatile. However, these changes have affected the market positively, according to market research firm, Research Nester, the global women’s formalwear market, valued in 2014 at $421 billion is forecasted to have an annual growth rate of 4.2% by 2023. The change is mainly in consumers being more interested in investing a significant amount in dresses that have more ways of using, changing from day to evening wear with subtle changes in styling.

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Older consumers are interested in investing in simpler garments rather than owning the latest identifiable trends from the most known designers.

Longevity is a key element in the new buying approach in occasion wear.

On the other hand, younger and more international consumers, such as those who shop on Moda Operandi are willing to take more risks. It is not about fitting in but more about the fashion content but nevertheless with a blurrier line and looser silhouette rather than conformist, traditional evening wear. They want clothes to reflect the lifestyle, the busy, multitasking, yet luxurious lifestyles.

This woman is very much interested in fashion, and standing out from the crowd, that is why the bridesmaids and wedding attire becomes more significant with brands proposing garments that suit both occasions at once as well as a cocktail party, all in one silhouette.

The contemporary market for cocktail and evening dresses is rising with bright examples in the market and the rise of occasion wear specialized brands, such as Sachin & Babi, we can see the market shifting, as more and more brands make a significant profit from this part of product category.

With prices ranging from $650 to $1,350 is also important to keep an eye on. The rise of social media suggests that, many of these garments become “retired� as soon as being photographed. The demand for more accessible, not cheap, but fashionable occasion wear is increasing, which speaks about the current consumer values. The rise of mid-priced, special-occasion items tends to become a more emotional experience than ever. According to DvF chief executive Paolo Riva, it is still and underserved category and the shift in consumer attitude became more flexible and open minded as consumers

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are more open to try new brands. Another area of flexibility and change is also the price point, where consumers are looking for different price points.

Brand are now targeting mid-prices occasion wear who are looking for unique items but are unwilling to invest in one-time luxury evening wear.

This gap in the market has given rise to brands such as Self Portrait or Galvan, who are targeting the consumers with a mid-range price point ranging from $600 to $1,200, but the most significant part of sales in the occasion wear market is still set under a price range of under $600, with brands like Reformation leading the way.

The change in consumer behaviours, the rise of social media and the appearance of new brands filling the price gaps, has proven bright new opportunities in the occasion wear market.

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TARGET

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TARGET

GENERAL DESCRIPTION Woman between 17 and 27 years old who has a clear sense of fashion and enjoys taking time to shop and browse for a special outfit for a specific occasion. Doesn’t work in fashion but enjoys keeping up with the latest trends. Independent, in a period of life where she enjoys the company of friends. Comes from a small city, but possibly lives in a bigger city for work or studies.

Doesn’t want to wear a garment that anyone else can buy, research for a special item in which she trusts will find good quality. Also looks for a comfortable space to buy where she can hang out and turn the experience of shopping into a whole event. She appreciates the consistency of a shops aesthetic and a generally welcoming atmosphere. Enjoys the feeling of having a more personal customer service without having to deal with the buzz of a big city.

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MILLENNIAL COMPONENT Passionate

for

doing

something

that makes them happy, something they really love. Time for themselves and sense of autonomy are very important, they have high aspirations and tend to have a desire to open a business of their own. Always looking for opportunities that link passion with work and often impatient looking for short term rewards or recognition.

Belief in collective power, equality and respect. Also belief that having a purpose in life is more important than having a job. Prefers to live a better today than worrying about tomorrow, and trusts the best part to enjoy is the ride rather than the destination.

Fascinated about learning new skills and adapting easily.

Behaviour:

globalist,

questioning,

oriented to self.

Consumption: experience, festivals and travel

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GEN Z COMPONENT Digital natives that deeply belief in consumption as access and not possession, consumption as an expression of individual identity, and consumption as a matter of ethical concern.

Constantly

searching

for truth and willing to mobilize themselves for a communal cause.

They deeply believe in the power of speaking to solve conflicts and are an hypercognitive generation that values individual expression by avoiding labels and being open to understanding different kinds of people. This generation is very comfortable

with

integrating

virtual and offline experiences.

Behaviour:

undefined

ID,

communaholic, dialoguer, realistic.

Consumption: unlimited, ethical

uniqueness,

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EXPECTATIONS The expectations from our target customers are centered around the comfortability of the shopping experience: a clean, tidy, organized space, with qualified personnel, able to advise on the perfect outfit for all types of special occasions. One of the special expectations of our target is having a tailor that can adjust any item, in this way paying to obtain a garment ready to wear. Including mannequins displaying creative color and outfit mixes and easy to find items in well organized categories are part of their higher expectations. Regarding the environment, having soft music and a nice but subtle smell inside the store are very important factors to include in the Boutique. As for the product, they expect to find exclusive, unique items nobody will find anywhere else, something out of the regular, different and special. A wide variety of items and more realistic sizes must be included in the selection of our boutique. Black clothes tend to be very important since they are considered a basic go-to item, “life-saver” because of the elegance of the color and the versatility it has to be combined with any other materials, colors, and shapes. Our target expects a place with variety for all kinds of people, especially plus size items rather than the traditional sizes for “perfect bodies”.

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SOCIAL BEHAVIOUR & HABITS According to Angela Woo in the Forbes Council Post: Understanding the research on Millennials shopping behaviour, 60% of millennials tend to gravitate toward purchases that are an expression of their personality, therefore the brand must speak to them at this level and make them feel good. Since the practical and emotional components are equally important for this generation, every purchase they make should be thoughtful around how the product will fulfill their needs and what will the product or service give back to them in any way.

Experiences have become very popular among millennials since they tend to prefer spending money on them rather than material things.

Even if experiences cost more, they understand the value of them and will accept to pay higher prices.

Due to the determination millennials have for their opinions to be heard and the interest in knowing others’ pinions, they tend to share their purchases through social media as a way of communicating with their friends. Having positive or negative feedback from loved ones will reassure or deny whether the purchase was successful or not.

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Millennials shop promiscuously. Millennials have no problem trying new, innovative brands rather than turning to a brand seen as old and reliable.

In fact, our research found that they are almost twice as likely to say this than Gen Xers.

Millennials seek relevancy. Almost half of the millennials surveyed appreciate when brands make ads and social media relevant to them.

Personalization and relevancy are key for this group. As part of strategy planning, brands need to incorporate research to delve deeper into understanding how their brand resonates and connects with its audience.

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SPECIAL OCCASION PURCHASING BEHAVIOUR Some of the actions our target immediately relate to while getting ready for a special occasion are putting makeup on while listening to music, having their nails done and putting on perfume. They love the feeling of being comfortable with the outfit selection, and buying shoes. Some of them prefer doing their hair and makeup by themselves but others rather go to a special place to get it done.

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PROSPECT TARGET

more special items like purses, shoes and jackets which she buys directly from big retail brands.

When looking for an outfit for a special occasion, she goes to a shop specialized in elegant dresses. If she doesn’t find it, she will combine clothes from low cost shops (Zara) with items of higher quality.

The most important things she CARLOTA SANCHIS

needs to find in any store are for

Vielha, Valle de Aran (Catalunya,

it to be tidy and clean, qualified

Spain), 22 Years old.

personnel,

She feels she has a good sense

comfortable volume and a nice

of fashion and knows about it

smell. Her mother always comes

too. Normally she buys clothes

shopping

at

outfits with her.

Inditex,

specifically

Zara,

some

for

music

such

at

a

important

except for pants which she buys

Putting makeup on while listening

at Levi’s. This also happens with

to music, feeling comfortable with

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TARGET

the outfit selection, having the

becomes complex.

nails perfectly done and wearing

The budget she has for a dress

a good perfume, are some of the

to wear at a special occasion

complementary actions of getting

oscillates between 100 and 250

ready for a special event. Some of

euros. If shoes or handbags are

the extra items she always buys

needed, the budget can grow

include necklaces and/or earrings,

even for a 150 euros more.

purses or handbags and shoes.

She’d like to find black clothes

Not finding anything appropriate

regardless of them being for a

for the event or finding something

special event or not, also she’d

she likes that doesn’t fit in the right

like to find something out of the

way are two of her main problems

regular, something different and

while shopping.

special, more if it’s for an important

Something about boutiques that

event.

Carlota

unique

There are no shopping centers in

items nobody will find anywhere

her town, but if there were, they’d

else, special items that end up

need to have variety to find all

being her favourites. Something

kinds of shops, all kinds of clothes

she hates instead: almost every

and all kinds of prices.

loves:

finding

piece is a unique size so the fitting

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stores just to find something she wants are two of the main problems she has in the shopping experience. Normally she goes online to check and see good options so that before deciding to go to the store she knows has what she needs.

While getting ready for a big event, everything is about beauty: hair, nails and makeup, even more than the garment itself.

Debora Mendillo

She

Milan, Italy. 22 years old.

necklaces and rings according to

Considers she has a sense of fashion

the colors and style outfit she’s

and enjoys to read about what’s

gonna wear.

happening today and the last few

About boutiques, she likes the

years in the world of fashion. She

environment, not the luxury but

likes to buy clothes in shops, but

the content she can find in it

doesn’t have a favourite shop. She

because it’s not something that

doesn’t like messy places with too

can be found anywhere. What she

much stuff around, prefers clean,

heavily dislikes is the behaviour of

easy and minimal environments.

the shopping assistants which is

Having to struggle when finding

very prepotent and makes her feel

a size or having to enter various

as if she was doing them a favor

would

also

buy

earrings,

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for buying there.

The budget can go up until 400 euro for the whole outfit, without a purse. Usually goes shopping with her mom or her best friend.

In a boutique she’d like to find special clothes, elegant, glamorous and

fashionable,

regardless

of

the brand. The ideal place to buy this kind of clothes would need to have prepared sales assistant and people that can advise her on what to wear and how to wear it, also would need to include a tailor, someone that can adjust the dress if it doesn’t fit.

PILAR MARMOLEJO Bogota, Colombia. 27 years old.

Even if she feels that she has a great sense of style she admits that its not her priority to know about fashion. Basically, she buys clothes where she sees good quality and something catches

her attention. Recognized brands are not something she really cares about. When she has the possibility to spend more money she will go to Massimo Dutti, Mango or Rapsodia. If she doesn’t have much to spend, she goes to outlets or places with big sales.

Regarding the things she buys out of impulse, she finds them at more local stores, Colombian brands or small boutiques.

Apart

from

Zara

and

Mango,

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for special occasion dresses she

She

considers Carolina Estefan and

code not being well defined,

Specia

sometimes she’s overdressed and

which

brands

are

dedicated

Colombian

about

the

dress

special

sometimes she’s underdressed.

occasions at not so high prices.

This is something she adores about

Also she likes to roam around

boutiques: the trained personnel

fashion streets in Bogota, with

that will know what to use and

loads

or

how to build up the entire outfit.

boutiques because of the dynamic

On the contrary, thanks to the

of entering and leaving one store

great attention, she feels pressure

to another.

to buy and sometimes clothes will

What she considers ideal for the

exceed her budget, which varies

shopping experience is nice music

depending on the importance of

at a low volume or she will feel

the event but will never exceed

confused,

mannequins

400 euros. The perfect company

displaying creative outfit mixes,

for shopping is her husband,

items to be easily found and well

mother, sisters or best friend,

organized sections.

someone

Depending on the importance of

there are tons of places to look for

the event she will buy shoes and go

this type of clothes in Bogota.

of

emerging

having

to

stresses

stores

to a special place to get her hair and makeup done. She doesn’t tend to buy jewelry because she’s more traditional and already owns what she likes to wear for a special event.

with

patience

since

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ready for a special event include playing music while taking a bath, doing her own makeup and hair.

Also buying shoes for the special occasion. Something that stresses her out about shopping is the fact that there is no variety in the elegant clothes sector and prices are higher, and something she really likes of boutiques are the dresses and shirts offer. Her budget usually doesn’t go higher than 300

MARIANA SILVA Bogota, Colombia. 20 years old.

Considers she has a sense of fashion and likes to be updated with trends. Usually buys clothes online and frecuents a lot Zara, H&M and Oysho. When looking for

a

special

garment

will

definitely go online to shop for it.

Regarding the offline experience and

a

comfortable

shopping

environment, music is key.

The actions she relates to getting

euros, paid by her mother, who usually goes with her shopping.

She would rent a dress that she owns but never uses, in that way more people would use it and also she’d be having an extra income.

Would adore to find much more colombian brands than foreign.

She expects a place with variety for all kinds of people, especially plus size items rather than the traditional sizes for perfect bodies.

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OPPORTUNITY & SOLUTIONS

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CONCEPT According to the retail trends and problems analysed before we came to the conclusion that the state of physical retail is still important, with global changes coming in from consumer & purchasing behaviours and the rise of technological features such as social media and e-commerce.

The current boutique market addresses its 30 plus consumers with outdated overpriced selections and no personalised experience.

The new and always informed global customers are looking for personalised experiences to reflect their busy lifestyle with a versatile selection of garments. They are willing to invest more in pieces with higher fashion content, that can be easily restyled, social media friendly and accessible priced, mostly for under $150 but for more special occasions also going in the mid price range up until $500. The overall shopping experience is highly important, a welcoming atmosphere with friendly shopping assistants and extra services that generate loyalty among them.

Based on the above criteria we are proposing the following concept: turning the idea of special occasions into an in-store experience. We are proposing a space to get ready for special and important life events with a feeling of exclusivity while maintaining an overall friendly and inviting atmosphere.

This will be accomplished with an expert tailor to adjust items for each customer, additional services (ex. Coffee corner, makeup, accessories and nailpolish selection, etc.) and the pleasant mood of the interior design.

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We propose an up to date selection of premium and niche brands with special items for public holidays and important celebration seasons. The It’s a full service package that will complement the idea of the boutique with additional services that could be further used even by non-customers, thus creating buzz and further on, loyalty among clients.

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S PA C E The physical space is a very important element in creating an inviting atmosphere. We are proposing an overall playful mood all around the shop, with a soft colour palette ranging from soft natural tones, greens and light pinks. Plants would be placed throughout the store with multiple seating areas like sofas and design chairs to create a warm home out-of-home feeling. The lighting of the store is also reflective of the overall softness with bright warm lights. The textures range from velvet to mixed print floors and wallpapers. Soft and subtle smell and music will also be a part of the experience. The overall atmosphere must reflect the clients needs: personalised with a special feel, a place for conversation and home like warmth.

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SERVICES The target set for this project, as mentioned before, seeks new experiences and personalised service. They demand a special treatment when shopping for an important event. For these customers the party starts the moment they get invited to it, therefore looking for the perfect outfit should be as fun and memorable as the event itself. The services proposed below aim to correspond to customer’s needs, transforming the shopping moment into the actual party.

During the research, one of the main boutique features pointed as a problem by the target is the lack of sympathy by the sales assistants. Being so, we believe it is fundamental to offer customers assistance from enthusiastic and friendly personnel who are aware of fashion and beauty hacks. Proper training is key to enable the assistants to guide clients during their visit to the shop, showing them around and stimulating their shopping desire, but never pushing them to buy anything if they are not sure about the purchase yet. After all, the main idea is making clients feel at home inside the store. Sales assistants must be fashion oriented and empathic enough in order to understand what exactly these girls’ tastes are and help them in the most efficient way possible, making them feel completely comfortable during the shopping experience. Giving our customers the taste of feeling confident when going to an event is a priority.

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TAILORING SERVICE As understood analyzing the different personas, there is not a standard body type that could represent all of the clients. Although they belong to a certain range of age, they have diverse body proportions and therefore wear different sizes. While some of them are petit and aim to find adult sizes that properly fit them, others look forward to find designs that accomodate elegantly their curves. Being so, we understand that it is not enough to offer various size ranges for all of the dresses in store, as they follow a certain size pattern and some clients might need to decrease the seam length, adjust waistline, enlarge straps and so on. It is necessary to have a competent tailor at clients disposal in the store who can fix eventual imperfections presented on the clothes when worn by different girls, in order to provide them the most elegant and personalized fit possible. That means, once the client tries on an outfit and is sure about the purchase but still feel like fixes are needed, the tailor marks what there is to be adjusted and fixed the garment accordingly. Customers come back to the store after a certain while (depending on service demand and complexity of fixes) to try on the fixed outfit and being completely satisfied with its fitting, they take the garment home with them. There will be no extra charges for tailoring service.

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COFFEE CORNER From the statements of all personas interviewed for this project, it is clear that the search for a special outfit is not simple for them and can demand several hours to be successfully concluded. To lengthen the stay and satisfaction of our target clients, we are proposing the introduction of an incorporated coffee shop/hangout place. With a simple but clever menu, the intention of the coffee shop is to provide customers a moment of leisure while deciding about the outfit, waiting for the tailoring service to get done or even just having a moment of joy in a cool location of the small town where it is located.

The store and the coffee corner, a so called chill zone, is designated to take a break from the selection of the dresses and enjoy one of our vegan friendly drinks or snacks. For those who really took the day to come to our store, we offer the cozy and trendy coffee shop where customers can have a nice beverage or a light snack during, before or after their shopping experience.

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ACCESSORIES AND MAKEUP CORNER To satisfy another request of our clients we will introduce a niche makeup brand, with a couple of items only (lipstick, eyeshadow, nailpolish, blush, mascara, highlighter and brow gel) and a selection of it accessories to complement the chosen outfits but also to have an offering available for anyone to purchase at any time.

The trained personnel has to be sensitive enough to understand if the client is interested in beauty tips to compliment the outfit. If so, assistants, can bring clients to the makeup corner. In this area of the store, we will have a small selection of trendy makeup and cosmetics brands at clients disposal, where the sales assistants can present them some key products, suggest the best products for their outfit choice and even give out complimentary samples.

The makeup corner will be placed right beside the coffee corner, along with the accessories area with a small selection of trendy items from brands exclusive to our shop.

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NAIL & HAIR SALON PARTNERSHIPS With the selection of our items we will facilitate the so called ‘getting ready’ phase of going to an event to our clients and also introduce a partnership with a local hairstyling studio and nail bar, with mutual referral benefits.

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FASHION SELECTION

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FASHION SELECTION

PRODUCT TRENDS In our process of the brands selection we looked at three main things, including the fit of the brand with our boutique, the price point and the relation to current trends. As our store has an A-seasonal selection, not matching seasons, but occasions, trends are important but not as important as the other two. Furthermore, we tried to make a selection of key items along with some trendy pieces to attract our young target. For this process we looked at some trends highlighted in the current occasion wear market, according to leading trend forecast websites such as WGSN or other opinion leaders in trend reports such as BOF or Vogue.com.

Our main item category are dresses. We have different lengths and models from this type of item (from mini to long dresses) to match every need of our customers and we selected them according to ongoing and future trends. To complement the wants and needs of our customers, we added a selection of blouses, skirts, jumpsuits and blazers as well. Our selected garments’ cuts tend to be more simple, to be easily combined with our selection of accessories and also easily personalizable with the clients hair and makeup choices.

We mixed our selection according to most sought after colors, always having black options.

We mixed our selection according to most sought after colors, always having black options and adding some prints into the equation. We selected delicate materials such as lace, ruffles and satin. We added some metallic pieces along with florals that will satisfy the more playful or rebellious of our customers.

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BRANDS – FUNCTIONS READY-TO-WEAR BRANDS Bridge price: OPT, ASTR The Label Designer price: BHLDN, Keepsake Premium price: Self Portrait

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OPT Occasion wear women’s brand focused on the use of textures, patterns and color combinations, offering dresses in various styles such as above the knee, long or maxi dresses, midi and mini length. The brand has an assortment of products with prices that oscillate between €120 and €150 allowing women to find an accessible dress for any special moment.

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ASTR THE LABEL The LA based label founded in 2012 is a trend driven brand which combines sophisticated detailing with evolved silhouettes for garments that are recognized for their quality and unique feminine edge. The label stands as a wearable interpretation of attainable style for all occasions.

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KEEPSAKE Keepsake is an Australian ethical label founded in 2011, with a directional approach towards evening wear. Keepsake celebrates the art of dressing up each season proposing designs that are modern, sophisticated and romantic. The designs are delivered 12 times each year with a a trend driven aesthetic and strong root in everything ‘beautiful’.

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BHLDN BHLDN is a destination site created especially for weddings but not forgetting about the other guests either. Created by Anthropologie, the site offers a wide range of services including their own brand named BHLDN, whose designs are simple, elegant, of high quality and versatile enough to fit all kinds of special events.

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SELF PORTRAIT Self Portrait is a contemporary brand founded in 2013 in a quest to provide accessible and high quality fashion for all. The brand is now known as a go-to for the most stylish and feminine dresses and separates that can easily double from day to night-wear given their special aesthetic. With a high celebrity following, this brand is no stranger to fame, a brand whose designs speak for themselves, providing luxury fabrics with an attainable prices.

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ACCESSORY BRANDS Premium price: Bimba y Lola Designer price: Mercedes Campuzano, Justine Clenquet

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BIMBA Y LOLA

Former brand Moet & Mos but now recognized as Bimba y Lola, this Galician fashion and accessories brand founded in 2005 by Uxia and Maria Dominguez, combines color and uniqueness but also sobriety and trendiness to create premium accessories and bijouterie.

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MERCEDES CAMPUZANO Mercedes Campuzano was founded in 2003 in Medellin, Colombia, as a brand focused on shoes and jewelry. It’s defined as a joyful, playful, versatil and dinamic. By being handmade, this pieces have the power of communicating a special feeling, it’s a fusion with a designer brand where every detail is carefully thought of. It’s designs, when combined with any clothing item can become a perfect outfit for any type of event.

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JUSTINE CLENQUET France made in jewelry brand created in 2010 by Justine Clenquet, confronts masculinity and femininity with a formula that incorporates styles while “reinterpreting punk pieces with a glamorous touch�. This worldwide known brand will add the enchanting and cosmopolitan edge the boutique needs in order to offer a smart chosen assortment to our target.

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MAKEUP BRANDS Milk Makeup, The Balm MILK MAKEUP This trendy makeup brand matches perfectly our target’s needs for responsible consumption: its cruelty free, paraben free, and 100% vegan.

Milk Makeup was born in downtown New York City as a brand that cares about it’s community and sharing their culture and ideals. Believing in personal style and experimentation as forms of self expression, Milk Makeup is the perfect asset for the Outskirts boutique.

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THE BALM This cosmetics brand is known by its velvet textures, rich colors and triplemilled pigments. They’re invested in the creation of premium cosmetics yet accessible to all kinds of women in the quest for beauty in it’s highest quality. Thebalm and it’s wide range of products will be displayed in our boutique, matching our clients needs.

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BUYING PROCESS & ASSORTMENT PLAN

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BUYING PROCESS & ASSORTMENT PLAN

In the buying process we have carefully considered the brands we have selected. All of these brands have a focus on occasion wear and dresses, with a nice assortment that put together could be able to create the atmosphere we want at Outskirts.

What these brands have in common, are good quality items, with slight differences that are reflected in the price point as well but also the offering of a wide assortment of pieces that fit with our approach to a specialized store that proposes to offer outfits for special occasions throughout the year at the comfort of staying in the small city. Regarding the price point, we selected within the price range of €100-€500, with the majority being in lower-mid spectrum and adding a couple of more special high profile items from our ‘window piece’ brand Self Portrait. We understood that our target is looking for exclusive items with a limited budget so these items are only for the truly daring ones, but nevertheless chosen for anyone else to dream about.

To fulfill these needs we proposed BHLDN and Keepsake, the first with a more minimal approach and the other a more girly and romantic vibe.

Our other two brands with a lower price point than the rest are ASTR The Label, offering a contemporary approach to occasion wear and OPT with young and fresh vibe.

We selected these brands based on their offering, their approach to occasion wear, their price point, their quality and the fit with our targets’ needs.

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In the process we have thought about ordering only a few pieces of more items to create a uniqueness to our selection and to provide our clients with unique designs for each event that they might attend. To solve the problem of a few items being more in demand and in case of fast sell out, we allocated a 15% OTB budget. As the concept of our store is seasonless, focusing on recurring events without being connected to a specific season, the brands we selected have an A-seasonal approach as well, making it easy to reorder items in season.

We added a selection of accessories brands that would compliment our chosen brands, such as the currently hip Bimba y Lola and chosne our other two lower priced and lesser known contemporary jewelry brands Mercedes Campuzano and Justine Clenquet.

Part of our store will be also a small selection of makeup items, which we also selected according to their exclusivity, items for all the makeup lovers, ready to be purchased right in our store along with the selected outfit and while enjoying a beverage and snack in our relaxing zine, the coffee corner.

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ITEMS – SIZES, COLORS Based on our target’s needs, we plan to have a variety of different sizes, maximum 5 pieces per model, considering the need of including XS and XL sizes meeting our target’s expectations. Since our customers belong to the millenial and Gen Z generations, they’re still fit and their size standards vary between S and M. The biggest selection from our assortment includes the S and M sizes, consisting of 60% of our total items.

We introduced smaller and bigger numbers alike, to satisfy the diversity of our customers sizes and tastes, always taking into consideration the fit and even the colors of the items. Regarding color, we are taking into consideration current and future trend forecasts and always offering a range of black clothes. For some items, we offer its variation in at least another color instead of having more quantity for the same item, providing a wider assortment and giving customers room to choose.

Another thing we took into consideration is having different lengths of dresses and skirts, so we choose accordingly a few mini and more midi and long dresses as they are more appropriate for special occasions.

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BUDGET PLAN, OTB &

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MARKDOWNS

The total budget for our proposed assortment for the store is â‚Ź15.000, out of which we allocated an approximated 15% as the OTB budget. This budget is at 15% as our concept for the store and selection of items is mostly A-seasonal so most of the items could be reordered during the season in case of fats sell out. This budget will help us see the best selling items and react to the need more rapidly than waiting a whole new season for it.

We took into consideration a small percentage of unsold items at 5% and added the marked down items, 15% and 30% respectively, as the type of items we are offering are in need almost throughout all year round. The total forecasted profit for out current selection with the loss of the unsold items and the markdowns is at 94.26% which equals â‚Ź14,141.57.

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The price point will start with a

that as our shop is A-seasonal,

couple of low priced items (2-3)

our items are needed throughout

at €50, but the average prices

the year, with some periods more

will be between €100-€200. With

filled with well known events than

a couple of items introduced at

others, but nevertheless, with a

the price point over the average,

roughly consistent demand for

above €200 until €250, and a

occasion wear. In order to keep

small selection of exclusive, most

customers coming back to our

likely window pieces from our star

mostly unique items, we proposed

brand at an average price point of

markdowns of up until 30%, only

€400. The brands were carefully

for a small selection of possibly

selected not only to match the

unsold items at full price. With a

targets’ needs but also to be in

total of approximately 15% of the

line with the fashion content of

items being marked down during

our store proposal.

traditional sales seasons.

For the markdowns, we decided

Breakdown of earning of markdowns and full priced items

Breakdown of possible markdowns during the season

BOUTIQUE PLACING

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The organization of all items is planned to make the boutique a cool hangout place that makes you feel cool and also invites you to shop in a comfortable way. Starting from the entrance, we want to offer an inviting atmosphere by having on the right side our coffee corner that, as mentioned before, will sell vegan friendly snacks and soft drinks. Near this corner we’ll place the accessories, jewelry and makeup items as well as the communication for the partnership with nail bars and hair salons, so that while guests are enjoying a light snack, they can get their hands on cool items and learn about discounts and promotions, inviting them to ask for our partners and the incredible brands offered.

As for the placement of the chosen brands, for the window we’ll choose those dresses that are the most special and attractive (but also have a smart price) in order to pull out target based on the fashion component and the interest for accessibility. We will match outfits regardless of their brands, truly mixing styles, sizes, textures and colors. Putting up at least 4 mannequins displaying an eye catching outfit its a must in our boutique store as well as keeping the most premium items on the center , while some tops and skirts can be organized around the place.

The tailoring area will be placed in the back part of the boutique, with 360` mirrors and a step where customers will stand to simplify the tailor’s work. People will be able (according to the day’s traffic) to watch the tailor work or to drink a coffee while their item gets fitted specially for them.

LAUNCHING EVENT

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LAUNCHING EVENT

One month before: The strategy for the launching of our boutique starts with the opening of a key element for the communication with customers: the instagram page. This will take place on the first week of january 2020, exactly one month before the launching event and therefore, opening of the boutique. This instagram account will be used to generate expectation by regularly posting information of the store, the different services it includes and clues for people to start developing an idea of what Outskirts is about, without directly telling it to them. During this month of expectation campaign, the local partner hair studio and nail brands will start mentioning our account through their own instagram pages, reaching more customers and pulling them into our store.

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One week before: Through instagram, we’ll create a giveaway in collaboration with the hair studio and nail salon, proposing a special sale for the opening day event on selected items. For this giveaway, people will need to tag 3 friends and use a special hashtag to be one of the three winners, revealed also on the opening day.

Opening day: First week of february 2020. We have selected this date to open our boutique store in order to be ahead of the “celebration season” offering also, items that will be used during spring and summer, being an occasion wear focused store. The event will take place in the boutique, using our coffee shop area to provide guests with aperitivo and a glass of wine.

This way we will introduce our services, the special vegan menu and the drinks and snacks available. As mentioned earlier, the three winners of the giveaway will be revealed and will be able to claim their discount during the event, the rest of the guests will be able to buy items since the moment we open our boutique. We will also introduce the tailoring service to the public, allowing shoppers to take home an item ready to wear.

To activate even more our interactions in social media, people that post a photo in their accounts with the hashtag will be a part of our feed.

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CONCLUSION

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Outskirts, is our answer to fix a gap in the retail market and our solution to bring a store that is always needed, closer to the people.

We came to the solution of the Outskirts concept as an answer to the necessity of physical retail and oversaturation of the digital market, the need of personalized experiences for meaningful events that are part of anyone’s life.

The art of getting ready, the most present in young girls, helped us set the right target and with further analysis to find out what exactly is that they want in such occasions. We selected brands with a focus on quality and price, neve forgetting the uniqueness and fashion contents so sought after by our main target. We understood that our client is more willing to spend their money on valuable experiences so we selected our brands accordingly and introduced special services such as tailoring with a qualified personnel and partnerships alongside local hair and makeup studios to facilitate the process of getting ready and also promote a more localized, circular economy. The atmosphere and physical look of the store was created in mind with interior and design trends that would compliment our approach and made for the client to feel as comfortable as they can in our space. We further introduced accessories to compliment outfits or even invite new customers in for their love of makeup by proposing niche makeup brands into our assortment.

To go even further with the ultimate shopping experience that creates a relaxing mood instead of a stressful one, we introduced our coffee corner, where our clients and not only, will be able to enjoy a beverage or a snack while shopping or to perfectly end a wonderful shopping experience.

This is our proposal, Outskirts - turning the idea of special events into an in-store experience.

REFERENCES

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REFERENCES

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https://www.wgsn.com/content/board_viewer/#/84132/page/1 https://www.independent.co.uk/life-style/fashion/death-of-retail-2017-was-allabout-the-empire-of-luxury-e-tail-a8096761.html https://www.businessoffashion.com/articles/professional/is-there-hope-forwholesale https://www.forbes.com/sites/forbesagencycouncil/2018/06/04/understanding-theresearch-on-millennial-shopping-behaviors/#599fba4e5f7a https://www.wgsn.com/content/board_viewer/#/83712/page/1 https://www.vox.com/the-goods/2018/10/16/17980424/shop-local-jeremiah-moss https://www.wgsn.com/content/board_viewer/#/83712/page/1 https://www.prnewswire.com/news-releases/2019-regional-prom-dress-salestrends-show-consistent-style-and-color-preferences-nationwide-300832532.html https://www.shop-capitol.com/browse/clothing https://www.businessoffashion.com/articles/intelligence/what-the-death-ofdaywear-means-for-the-brands-that-peddle-it https://www.businessoffashion.com/articles/intelligence/betting-on-mid-pricedeveningwear https://www.insider-trends.com/19-great-initiatives-in-fashion-retail/ https://www.cbinsights.com/research/fashion-tech-future-trends/ https://www.insider-trends.com/50-most-beautiful-concept-stores-from-aroundthe-world/ http://vanishingnewyork.blogspot.com/2018/10/the-trouble-with-shop-local.html https://www.vox.com/the-goods/2018/10/16/17980424/shop-local-jeremiah-moss http://vanishingnewyork.blogspot.com/ https://www.generation.org/millennials/ https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/ true-gen-generation-z-and-its-implications-for-companies https://www.wgsn.com/content/board_viewer/#/84002/page/2

OUTSKIRTS The experience of getting ready