Unit 10

Unit 10 Joy CatesbyMcCabe

Role Of A Buyer

A fashion buyer is responsible for planning and selecting a range of products to sell in retail outlets.

It is important that the buyer considers the following factors when making purchasing decisions: 

customer demand, including price, quality and availability

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market trends

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store policy

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financial budgets

A buyers responsibilities may typically involve:  analysing consumer buying patterns and predicting future trends;  regularly reviewing performance indicators, such as sales and    

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Buyers source new merchandise and review existing items to ensure products remain competitive, especially as fashion trends can change fast.

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They should fully understand customer needs, have the ability to maximise profits and provide a commercially viable range of merchandise at competitive prices.

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They have to keep up to date with market trends and react to changes in demand as these are key elements of the role.

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Retail buyers have a considerable amount of responsibility and autonomy in what is often a pressured, fast paced environment.

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discount levels; managing plans for stock levels; reacting to changes in demand; meeting suppliers and negotiating terms of contract; maintaining relationships with existing suppliers and sourcing new suppliers for future products; liaising with other departments within the organisation to ensure projects are completed; attending trade fairs, in the UK and overseas, to select and assemble a new collection of products; participating in promotional activities; writing reports and forecasting sales levels; presenting new ranges to senior retail managers; liaising with shop personnel to ensure supply meets demand; getting feedback from customers; training and mentoring junior staff.

Research

Research and Analysis is important to a buyer and will always be done to ensure they're making informed decisions.

It is important that buyers :  Source new merchandise and review existing ones to ensure products remain competitive.  Fully understand customer needs, be able to maximise profits and provide a commercially viable range of merchandise at competitive prices.  Keep up to date with consumer buying patterns, market trends and react to changes in demand.  Regularly review performance indicators, for example, sales and discount levels.  Complete competitive shop reports which provide information on what other stores and brands are selling .

They conduct their research through:  Conducting directional shops. Visiting New York, Tokyo, Paris, Milan and London for shopping trips. They are important as it allows the buyer to find out key trends and consumer habits.  Analysing and predicting future trends that will be followed by the customer and portrayed by the brand, this can be done through trend prediction sites such as WGSN . They can also attend trade shows such as Premiere Vision. These trend shows occur twice a year generally in February and August which are called the buying season. The shows exhibit the collections for the following season, so buyers purchase products at least six months ahead

Sourcing

The experienced buyer’s role involves travelling, mainly to see clothing suppliers and negotiate the most competitive deal.

Asia and the Far East are popular places to meet and negotiate with suppliers in their factories.

China is a popular location for suppliers of finished garments.

India is popular for embellished garments.

Communication Fashion buyers liaise regularly with colleagues from other departments at head office, because the successful development and retailing of a fashion range is a team effort, requiring a variety of specialist input.

The buyer may liaise frequently, on a daily or weekly basis, with key departments such as design, fabric technologists, merchandising and quality control (QC), or intermittently with other departments, such as marketing.

Buyers will also liaise with garment suppliers on a regular, often daily basis as it is important to establish strong working relationships with suppliers as a mutually supportive approach will be beneficial to both parties.

Negotiation

One of the major aspects of the buyer’s role in dealing with suppliers is to negotiate prices, quantities and delivery dates.

The garment manufacturer’s sales executive, submits a ‘cost price’ for a garment, which has been based on the result of a costing process in the factory.

The buyer calculates how much the garment needs to be sold for in the store to achieve the retailer’s ‘mark-up’, which is the difference between the manufacturer’s cost price and the selling price.

Task :Buyer For Topshop - Issues / Areas Taken Into Account         

Customer Demand Market Trends Store Policy Financial Budgets Trend Research & Analysis Trade Shows Sourcing & Negotiation Supplier Relationships Communications

Customer Demand It is important that a buyer for Topshop understands their customer and their demands so that they can provide products which they will be interested in to create sales.

This can be done through a customer profile.

Jane Shepherdson, (previous) brand manager for Topshop: ‘Officially our target market is 15- to 30-year-old women, but internally we target everyone who loves fashion, regardless of age or income.’ She adds: ‘I think the biggest change [in the high street since the 1970s] is one the consumers have driven, in that they are much more fashion-savvy these days, and demand much more than they did. The impact of the media has meant that everyone knows what the celebrities are wearing, where they got it, what the designers are showing on the catwalk and so on, so they want a bit of it too.’ (Jonquil.myblog.arts.ac.uk, 2016) Their Customer: “An extraordinary retail phenomenon, Topshop appeals to students, professionals, fashion taste makers and high profile A-List stars alike.

United by their desire for the latest forward thinking trends, these shoppers enjoy both the store’s exclusive cult status and accessibility simultaneously.

With over one million customers visiting stores every week in pursuit of an up-to-the minute fashion fix, the average customer is a loyal follower of the brand. She cannot be defined by her age – which can range from early teens to fifty something’s – but instead her attitude. Style conscious and independent, she is addicted to fashion but is not dictated to. Instead she throws away the rulebook and aims for a unique look.”

(Jonquil.myblog.arts.ac.uk, 2016)

Market Trends

‘Discover the latest in women's fashion and new season trends at Topshop’ (Topshop.com, 2016)

It is vital that a buyer for Topshop understands market trends and what is going to be fashionable in the upcoming season so that their fashion conscious customers want to spend their money on garments and other items there, rather than anywhere else and in order for this to happen their products need to be on trend, in store at the right time. They can do this through :  Attending trade shows  Attending fashion weeks  Using trend forecasting websites such as WGSN

On the left is a screenshot taken from the website WGSN and on the right, one taken from the Topshop website. WGSN is a trend forecasting website which helps buyers to predict which trends will be most fashionable. Here is a report which states that Puffa Coats are set to be a big trend for A/W. Here it is clear that Topshop have taken notice of this as a big trend and therefore made it into a main part of their home page on the topshop.co.uk website.

Store Policy Topshop, owned by Arcadia Group Ltd take their environmental responsibilities seriously and ensure that every process is done in the most economically and socially friendly way, this includes their suppliers so that customers can be confident that their products have been brought to them in a fair way.

It would be important for a buyer to know this information as they would have to ensure that they are buying products from suppliers whom meet the standards required by the Arcadia Group in order to be inline with their policy.

Topshop have made subtle changes over the years in order to constantly improve on their policy. For example offering an EMail receipt rather than a paper one in order to reduce paper resources used.

‘Topshop is part of the Arcadia Group Ltd. https://www.arcadiagroup.co.uk/ Fashion Footprint is Arcadia Group’s programme which plans, monitors and manages the social and environmental impact of our business. Our Fashion Footprint vision provides us with a mission statement that we can all get behind: to produce fashionable products in an ethical way and demonstrate a responsible attitude towards people and the environment.

When customers buy our goods, we want them to be confident that they have been produced under acceptable conditions. That means the goods must have been produced:  •lawfully, through fair and honest dealing;  •without exploiting the people who made them;  •in decent working conditions; and  •without damaging the environment.

The Arcadia Group Code of Conduct applies to the manufacturer, or any other person involved in supplying goods to our companies. The code is designed to be fair, achievable and easy to check, and to promote the ongoing development of our suppliers. The code is based on the International Labour Organisation (ILO) conventions and recommendations, and applies to all brands underneath the Arcadia Group umbrella.’(topshop.com, 2016)

Financial Budgets Looking at and understanding financial budgets are a vital part of a fashion buyers role. A buyer for Topshop would have to be aware of other stores pricing in order to stay competitive.

They may do this through conducting a comparative shop.

This is where similar items from different brands are compared in order to see pricing.

A buyer would also need to consider profit margins when deciding on the RRP of a product as they want to make a good profit from items, however they also want to remain competitive so it is important that a good balance is created.

The buyer will also have to take into consideration exchange rates, VAT and tax.

Trend Research & Analysis Buyers for Topshop have to constantly be aware of upcoming trends as the clothing that they buy will not sell if it does not appeal to their target market and Topshop's main audience are fashion conscious females who want to look good in the most up to date clothes, shoes and accessories.

They can research trends in a number of different ways.

Firstly, they could use trend forecasting websites such as WGSN which is a popular platform which buyers can buy to help them predict trends, providing reports on styles, shapes, colours, prints and fabrics.

Secondly, they can attend trade shows to see what's fashionable, and thirdly attend fashion weeks where designers showcase their items on the runway for buyers to take inspiration from.

Sourcing, Negotiation & Supplier Relationships A buyer for Topshop would need to deal with all three of these aspects day to day.

It is important that they focus on where they are sourcing their products from as they are part of Arcadia Group Ltd who have a policy where every step of their process from design to point of sale is fair, socially and environmentally. Therefore all of their suppliers would need to do things such as provide good working conditions for staff, with fair pay and dispose of any waste properly etc. The buyer should also look around different suppliers, logistics companies etc. in order to get the best price possible to increase profits.

For this reason it is also important that the buyer negotiates with the companies they work with.

Supplier relationships is a massive part of a buyers job for Topshop as it is important that they communicate closely and gain a good relationship with suppliers in order to build trust and therefore be more likely for both parties to be loyal and furthermore provide good offers.

‘Buyers liaise with garment suppliers on a regular, often daily, basis. A buyer may spend more time speaking to a representative from one of the company’s manufacturers, probably from the design or sales department, than to another buyer from the same office. It is important therefore to establish strong working relationships with suppliers as a mutually supportive approach will be beneficial to both parties. The buyers interviewed for this book each stressed their reliance on suppliers to enable ranges to be bought successfully. Occasionally buyers appear to view themselves as being on the ‘opposite side’ to suppliers –in a superior position – as they have the ultimate decision-making power.

However this can be detrimental to buying a successful range as the supplier may be reluctant to offer new ideas if the buyer is too autocratic. It should be remembered that retailers and manufacturers both have the same main aim: to sell as many garments as possible by meeting customers’ requirements. To liaise effectively both the buyer and supplier need to form a relationship based on integrity, reliability and respect. Buyers can only expect to see samples and costings delivered on time by the manufacturer if they in turn respond quickly and professionally to the supplier’s phone calls or emails. Buyers liaise with suppliers for numerous reasons throughout the buying cycle (see Chapter 3) in relation to selecting, ordering and delivery of garments and, in the case of own label retailers, participating in the product development process.’ (publishing, 2016)

TASK

In groups study the newspapers, websites and journals to identify news stories that you think would affect the role of a buyer or are related to the experience of a buyer.

Look at different areas such as:       

Retail market - how are retailers performing, information on expansions/declines The economy – disposable income of customers how much is there available Global market – what is happening in other countries that could affect sourcing Consumer spending – what are consumers spending their money on and why?

Government policies – changes that could impact upon retailers or consumers Trends - new and up and coming trends that could increase or decrease sales Technology – how has this or could this impact upon retailers and consumers

For each of your examples detail how you feel this information would impact on a buyer. This could be negative or positive or even both in some cases.

Present your findings to the rest of the group and in your research file write an evaluation of each of your stories, ANALYSING how they affect the role and responsibilities of the buyer and the relationship with other departments, for example merchandising, retail operations and visual merchandising.

Retail Market – Performance

This article is a perfect example of how retail performance can be influenced by varying external factors which cannot be helped. The weather being unsuitable for the collections in store could not have been foreseen by the buyer, however it will have a hugely negative effect on the retailer. Slowing down sales growth meaning that H&M’s sales increased by only 1% in September due to the warm weather.

H&M was hit by the “unseasonably warm” September and had a “very negative” impact on the fashion retail giant’s performance last month.The group’s sales increased just 1%, including VAT and in local currencies compared to a year ago, Hennes & Mauritz said in a brief statement Monday. That was its slowest growth since August 2015.

Last September, the retailer reported an 11% rise in sales as weather in many of its large European markets returned to more normal conditions following an unseasonably warm August, it said at the time. (Anon, 2016) The Swedish fast-fashion company posted a 9% drop in third-quarter profit after an August heat-wave at the time of its autumn-and-winter collections’ launch forced it to mark down prices on woolen hats, coats and pullovers.

H&M said net profit fell to 4.82 billion Swedish kronor ($562 million) in the three months ended Aug. 31, compared with 5.31 billion kronor in the same period last year. Friday’s earnings were also hit by a stronger dollar.

Earlier this month H&M had said revenue in its fiscal third quarter, including value-added tax and converted into Swedish kronor, had risen about 6% to 56.8 billion kronor from 53.4 billion kronor.

The hot interlude illustrates how H&M’s logistical chain is ill-equipped to swiftly respond to rapid changes in an often volatile fashion retail market. Larger rival Inditex SA, the Spanish retailer behind the Zara fast-fashion chain, has done a better job at building a network of subcontractors and warehouses to deal with changes in customer demand, new tastes and even the weather, analysts say.

Heard: H&M Turnaround Will Take More Than Cooperative Weather While Zara is slightly more expensive, H&M focuses firmly on competitive pricing rather than speedy design-tostore times, said Anne Critchlow, a fashion retail analyst at Société Générale. At H&M, such lead-times “are predominantly long, with 80% of products created on lead-times of many months,” she said.

The two companies have different manufacturing setups. While H&M produces about 80% of its clothing in Asia, Inditex makes 65% of its garments in Spain, Portugal, Turkey and North Africa, closer to its main markets. That allows Zara to bring new products to the shelves in as little as a few weeks, ahead of most other retailers, analysts say.

Inditex earlier this month posted a 9% rise in second-quarter net profit to €702 million ($787.4 million) on revenue of €5.59 billion.

H&M’s Chief Executive, Karl-Johan Persson, said his company needs to become more agile.

“We have a lot of opportunities to improve, to make it even more flexible and quick,” he said in an interview.

Mr. Persson said that hot weather continued to hurt sales in the first weeks of September, resulting in a challenging start to the autumn season. The company said it expected its September revenue to only increase by 1% in local currencies, compared with the same month of 2015. (Verbergt, 2016)

The Economy – Disposable Income / Consumer Spending Suited and Loubouted: Women spend a FIFTH of their salary on work clothes every year  Working women spend £4k on work clothes each per year  Seven out of ten are under pressure to dress to get noticed  One in four change the way they dress to compete with colleagues •

Forget hitting targets and getting bonuses, looking good is far more important in the workplace according to a new survey.

Competitive dressing in the workplace is fast increasing and the latest office turned catwalk trend is costing women over £4,000 a year. Over two thirds of women report feeling under pressure to dress a certain way to get noticed at work and looking the part doesn’t come cheap, with women spending 18 per cent of their salary - an average of £341 a month - on their working wardrobe One in four women say they have consciously changed the way they dress to compete with colleagues and sixty per cent have bought new clothes to help them further their career.The research also revealed that women are guilty of labelling their colleagues based on their office attire.

Over half of women admit they judge their female colleagues based on what they wear to work and over a third worry about what people think if they wear the same clothes too oftenThe study found that women are adopting these dress tactics, not only to fight off competition from colleagues for the top spot, but also with the recession still fresh, many feel they have a better chance to climb the career ladder internally rather then moving on.Joanna Williams, Head of Brother UK Marketing and Communications who carried out the survey, said: 'Whether we intend to or not, we are guilty on some level of subconsciously labelling people based on what they wear.

This article tells us how much disposable income women spend on fashion. This information would be useful for a buyer in fashion retail as it allows the buyer to get into the head of a consumer, understanding why they shop will help to understand what it is they want. For example, in the article it is mentioned that competition in the workplace is motivation to spend money on clothing. This could mean that fashionable office wear is a big market, which a buyer could bring in, if the retailer doesn’t already provide this.

Over half of women admit they judge their female colleagues based on what they wear to work and over a third worry about what people think if they wear the same clothes too often 'A tough economic climate has meant people now feel they need to adopt powerful labels about themselves at work in order to move up the corporate ladder.'

Grace Woodward, celebrity fashion stylist who worked with Brother on the study said: 'Despite a difficult financial year and women being encouraged to tighten their belts, they are putting greater emphasis and spending more money on their working wardrobe in an attempt to get ahead.

'This research shows how important office appearance is, and how women are consciously using clothes as tools to get ahead.‘ (Kennedy, 2016)

Global Market - Sourcing

This article shows how the global market impacts buyers as Ethiopia are now becoming more competitive within the fashion industry. They can provide cheaper manufacturing for footwear as they have no duty fees to get the shoes over to some other countries to be sold, this will therefore allow buyers to price items at lower costs for consumers, allowing their company to be even more competitive or increase profits.

“The reason international production managers from brands including Calvin Klein, Aldo and Under Armour gathered last month in Addis Ababa was to attend a footwear business summit organised by Made by Ethiopia. Held in conjunction with Enterprise Partners and the Footwear Distributors and Retailers of America (FDRA), the summit also provided brand reps with a peek inside factories like Anbessa.

“Why are we here? Yes, Ethiopia can deliver a cheaper landed cost than key competitors like China, Vietnam and Indonesia. But we’re really here because Ethiopia is [getting] focused,” said Thomas Crockett, director of government and regulatory affairs at the FDRA, a trade association with 176 members that covers about 80 percent of the American footwear market.

Ethiopian fashion exporters have duty-free access to the US market thanks to AGOA, the African Growth and Opportunity Act, which was renewed by the American government last year for another decade.

“Some US shoe duties are astronomical so, with Ethiopia, we have nine more years of duty-free certainty ahead of us. That’s good news for companies and for consumers.

Ethiopia is not for everybody but you do have a unique opportunity here to diversify your sourcing approach and explore worldwide capacity — which is essential to succeed nowadays,” Crockett added.

Fitsum Arega, director general of the Ethiopian Investment Commission, explained that the sector also enjoys duty-free entry into Canada and the European Union and preferential duty treatment to Japan and other countries. But this is not the only reason Ethiopia has become something of a hot topic in footwear sourcing circles.

As manufacturing wages rise in China and poor worker welfare standards continue to plague many lower cost Asian countries, many Western brands have started seeking alternative sourcing hubs. Africa is seen by some as the next frontier and, alongside more developed players like South Africa, Kenya and Mauritius, Ethiopia is considered one of the most promising and dynamic fashion manufacturing centres on the continent.

“As early as 2012, Origin Africa partnered with us here in Addis,” said Mahlet Teklemariam, founder of Hub of Africa Fashion Week. “The African Union supported us with the venue and last year around 150 fashion exhibitors participated in a sourcing trade show by ASFW, which has just partnered with Messe Frankfurt. They can bring in the big buyers.” (The Business of Fashion, 2016)

Government Policies

This article is about ‘Brexit’ and the implications which leaving the EU would have on the fashion industry. There are many good points made about travelling and loss of foreign talent etc.

However I think that the most major effects will come from the impacts to pricing. Due to the UK losing out on free trade agreements, importing goods from around the world will mean that the prices of clothes, shoes and accessories are likely to increase. However if the UK does decide to leave the EU, consumer confidence is likely to drop. If this leads to less spending, with retailers in the UK buying in items for higher prices and less people buying them, it will have a massively negative effect on the retailer. It is therefore the job of the buyer to work out the best deals with suppliers in order to stay competitive. The buyer would have to work with the marketing team to ensure that the products are marketed well in order for them to sell, even at a higher price.

A survey conducted the British Fashion Council revealed that 90 percent of British fashion designers will vote to stay in the European Union on Thursday, versus the 4.3 percent who will vote to leave. However, with the majority of the polls showing a neck and neck race for both sides, a Brexit could still be on the cards, which makes us question, what effect would it have on Britain fashion industry? FashionUnited has compiled a list of the 5 effects a Brexit is likely to have on the fashion industry.

End of free trade, posing a 'serious risk to growth' Furthermore, exporting and importing fashion goods is likely to become even more difficult as new trade agreements will have to be made in the case of a Brexit. The UK currently benefits from favourable trade regulations with over 60 countries and in order to maintain its relationships, it will have to negotiate new agreements with both European and non-EU countries. Although those in favour of leaving the EU counter that Britain would likely be able to negotiate favourable trade agreements, similar to Norway and Switzerland, a number of countries have warned that there "will be consequences" in the case of a Brexit. UK fashion brands may be have to pay increased taxes and fees to ship and sell their products abroad and foreign investors are likely to be deterred. However, export is cited as one of the key components for fashion companies to be able to reach over a 100 million pounds in sales, and any limitations placed on exports are likely to lead to a restriction in terms of growth, especially for small and medium UK fashion companies. A Brexit would also make it increasingly difficult for British fashion businesses to expand abroad and build a name for themselves. The G7 leaders recently issued a joint declaration, in which they stated that a Brexit would pose a "further serious risk to growth."

Clothing price hike and drop in consumer confidence If the pound continues decreasing in value if the Brexit is voted through, it also means that the price of apparel, accessories and footwear is likely to increase. Why? A weaker pound, as highlighted above means that fashion companies alike will have to spend more money to produce the same amount of clothing. In order to recuperate those costs, businesses will be forced to charge more for the final product. “The cost of a weaker pound impacts all retailers, so it will be passed on to consumers,” said Brun Monteyne, senior analyst at Sanford Beinstein, to the Financial Times. Although most British fashion companies will have hedged their currency exposure for the next 6 to 9 months, prices are still likely to be affected in the long run. This price increase is likely to have a significant effect on UK consumer, who have enjoyed low inflation and little to no price increases for the past six years. Consumer spending has already declined over the past month in the run up to the EU referendum, which has taken a toll on consumer confidence, which is likely to continue to drop in the face of a Brexit.

Loss of foreign talent and skills in the industry One of the most potentially damaging blows a Brexit could deal to the fashion industry could be the restriction of free movement. Many British fashion designers and companies based in the UK employ European designers, or have ateliers abroad where they employ talents business structures which could be damaged if European citizens lose the right to freely love and work in Britain and vice versa. For example, Christopher Kane, a Scottish designer based in London, label is owned by fashion conglomerate Kering. Although a number senior member of staff from Kering reside in London, such as its chief executive officer François-Henri Pinault, the company itself is based in Paris, France. As one of the largest, luxury fashion conglomerates in the world, Kering ensured its designers have access to the best seamstresses and ateliers across Europe. But with a Brexit the borders between Britain and the rest of Europe may be closed.“All these amazing seamstresses from Italy, from all over Europe, that have been working with us for five years … How much would it cost for us to get them visas?” questioned Kane in an interview with the New York Times. The answer for now remains uncertain as exact guidelines of how the Brexit would occur have been shared.

Travelling abroad becoming more difficult and costly In a similar vein to the previous effect, travelling between Britain and Europe is likely to become even more complicated and expensive in the event of a Brexit. Creative designers, such as Jonathan Anderson, who is based in the UK but has to travel weekly to Spain to meet with his design team for Loewe, is just one of many who will be faced with increased travelling costs and restrictions. The same goes for fashion journalists who travel abroad for each fashion week. Although the UK will push for UK citizens to keep the right to work and travel freely in the EU, British travellers will likely have to pay more for air travel, as a large chunk of the costs in aviation, such as airplane leases and fuel, are priced in US dollars. With the declining value of the pound, fares with British airlines are likely to rise. (Hendriksz, 2016)

Technology :E- Commerce

UK online fashion market grows to 10 billion pounds The UK online fashion market is expected to be worth 10 billion pounds this year, according to new research from Mintel. E-commerce is seeing a strong growth in sales as consumers prefer to shop on line. 17 percent of online spending is on clothing and footwear, up from 13 percent in 2011.

The online market will grow to 19 billion pounds in 2019 While the growth rate has slowed from a 19 percent sales surge in 2012 as the market matures, sales are still expected to reach 19 billion pounds by 2019.

UK online fashion market grows to 10 billion pounds “The market for online fashion continues to see robust growth as consumers become more accustomed to shopping online,” said Mintel’s senior fashion analyst Tamara Sender. “Increased participation in shopping via smartphones and tablets has helped to bolster sales as consumers look to shop for clothes anytime and anywhere.

“Today’s Brits are increasingly moving between devices when shopping online, as well as using mobile devices to help them shop while in-store. As consumers combine different channels to shop for clothes, retailers have to ensure that shopping is truly seamless and that they give customers a consistent shopping experience whatever channel they choose to use,” she added.

The data shows that 70 percent of internet users buy clothing and footwear online, This increase in online sales means that ‘Bricks and Mortar’ companies are most making the category the most purchased. In the 25-34 age group that rises to 80 percent, while it is 76 percent in the 16-24 age group. likely to die out. These are businesses which do not have an E-Commerce site Women are the biggest shoppers with 73 percent buying online, but there has been an and trade only from a store. The higher percentages of people whom use online increase in the amount of men buying online with a 13 percentage point jump over the last year to 65 percent, Mintel said. shopping are younger people, this is what makes pure players such as ASOS In terms of devices, tablets are becoming increasingly popular with 20 percent of and Pretty Little Thing so popular. However, some retailers are moving out of online shoppers using one to buy clothing in the last 12 months, while 44 percent of the purely online market and onto the high street. For example, misguided now consumers have used click-and-collect for clothing purchases over the last year. have bricks and mortar stores, allowing sales to further grow and reduce the “Convenience-seeking consumers see click-and-collect as the fastest and cheapest way of receiving items reserved or purchased online,” said Sender. “Savvy retailers are amount of items returned as consumers now get to try on the clothing before beginning to recognise the value and importance of click-and-collect and are turning they buy, unlike when bought offline. This would effect the buyer and these into areas in their stores where customers can relax on a sofa and have a coffee merchandiser as they would have to figure out the quantities of stock which while waiting for their items. It is now more important than ever for retailers to ensure would be allocated to the warehouse for online sales and which stock would that the process is a seamless online and in-store experience, which leaves the customer make it to store as larger retailers may not be able to stock all of the items they wanting to order again.” (Fashionunited.uk, 2014)

do online, in store.

Trends

One of the largest parts of a fashion buyers role is to understand current and upcoming fashion trends to create collections which are desirable by their target market. They need to be very responsive and cope with the fast changing environment. Buyers will trend forecast through watching catwalks, visiting trade shows and trend forecasting websites.

Fast changing market Trend The market is changing fast and today’s fashion is history by tomorrow. Markets are unpredictable and highly dependent on factors like the weather. In today’s fashion supply chain it is important to act fast so responsiveness is key. The time-tomarket is reducing and instead of the traditional 2 collections per annum, fashion suppliers often create as many as 12 or more collections per year.

Impact The supply chain needs to cope with fast-changing requirements, so it needs to be very responsive and agile. If all goods are sourced in the Far East, the long lead-times will present a challenge to keep up with market requirements. To mitigate this, fashion manufacturers have sourcing points in Eastern Europe, Turkey and, increasingly, North Africa, from which orders can be placed and delivered within a shorter lead time. The initial seasonal launch is still bought in the Far East, but replenishment orders during the season are placed at manufacturers located much closer to the market. Consistency of product then becomes the next challenge. (www.total-logistics.com)

Task 2: Pestle

Marks and Spencer is a British Retailer that has 800+ stores across 30 countries. This makes it one of the largest clothing retailers in the UK, as well as also being a retailer of food. They continue to expand into other areas such as homeware and technology.

P O L I T I C A L

‘MARKS & Spencer have been charged with neglecting health and safety rules after a door fell on top of an employee. George Blair was allegedly injured after a warehouse door in their store at Braehead, near Glasgow, was left hanging on loose fixtures. The company are alleged to have ignored repair requests, allowing the door to fall into disrepair.’ ("Marks And Spencer Face Safety Rap Over Door Injury Claim") The government sets regulations for all companies to abide by. One of the most important regulations comes under health and safety which includes planning for hazard identification, risk assessment and risk control. Companies which do not follow these regulations can be prosecuted or forced to closed down depending on the severity of the situation. In this instance, Marks and Spencer did not abide by these health and safety regulations which are in place to protect workers, as they did not investigate repair requests to fix the door which therefore led to a member of staff being injured. This could damage Marks & Spencer's brand image as consumers are more likely to buy from brands which have good reputations in the public eye. This negative news story could potentially damage sales. This would then directly impact the buyer if sales drop, as the quantities of products which they buy could possibly need to be reduced. Furthermore current products in the store at the time of damage to their brand image could lead to a mark down in prices to encourage customers to spend.

‘Marks & Spencer has become the latest in a string of UK companies to face criticism from tax campaigners over the way it structures its online sales to Europe – with one describing its sales operation as similar to that of the internet retail giant Amazon. The British retailer has been expanding its online operations to several countries across Europe with a new marksandspencer.eu site, hoping to grow its business in a difficult economic climate. But internal M&S documents seen by the Guardian show the firm's structure involves shipping goods from one country – the UK – while invoicing the transaction to another – Ireland.

Orders made through the site by customers from France, Germany, Ireland or other countries are shipped from M&S's UK warehouses – but the transactions are all made with, and charged to, Marks & Spencer (Ireland) Limited, a subsidiary located in the Republic of Ireland, which has the lowest corporation tax rates in Europe.

"Given that Marks & Spencer portrays itself as a British institution, it is disgraceful that it is choosing to avoid paying tax in this country," said Suzy Blackwell of UK Uncut, which has pushed for changes to the law to cut down on legal tax avoidance measures.’ ("Marks & Spencer Under Fire Over Online Tax Arrangements")

This article about how Marks & Spencer avoid paying some taxes in the UK through invoicing European sales to Ireland could also create a negative brand image in the UK for M&S as they do pride themselves on being a British company and market themselves on this factor. Therefore by avoiding paying some taxes in the UK, it will not uphold their good reputation as a British company. This could possibly lead to consequences similar to those I mentioned through the health and safety article. However what M&S has done here is not illegal and allows the company to save money. This means that they will have bigger net profit (profits after tax has been deducted). This could therefore allow a buyer to competitively price products as profits would not take that much of a hit.

Task 2: Pestle

‘In the immediate aftermath of the Brexit vote, political uncertainty had led to a dampening of consumer confidence’.

E C O N O M I C

(Home.kpmg.com, 2016)

Effect on Buyer: Considering the drop of the sterling pound fashion buyers will also feel the drop of budgets especially when going overseas for collections. Buyers will need to take extra consideration when buying collections- maybe buying more transitional and essential items of clothing for M&S customers.

Busy periods such as Christmas is when buyers are going to make their profits and need to ensure they are doing their best to keep costs low if 20% sale discounts are going to be applied.

Economical Factors for M&S : Currently the economic outlook is very uncertain from the recent Brexit referendum and this is more than likely to affect retail sales, as people are worrying about whether they will have the disposable income to spend on luxury items such as clothing.

Marks & Spencer in particular have been hit by this and have recently closed a number of stores and have had to make job cuts of 2% of their 70,000 staff.

On the run up to Christmas in 2015 Marks and Spencer took the decision to have two days of 20% discounts.

Other strategies which take place throughout the year are things such as 20% of all Wine and Champagne and dining in for £10 to feed two people. Promotions such as this tend to be successful around events such as Valentines Day. This is a way that M&S can keep up and overcome their competitors and stay on top of profits.

S O C I A L

‘Marks & Spencer’s multichannel strategy has been a leading factor in the company’s overall growth. Offering customers an integrated mobile site, app and multichannel shopping experience led to well over 1.2 million unique visitors on the M&S mobile site and over 10 million page views in the first three months after launch in 2012. Today, sales on mobile and tablet have increased by over 200% accounting for 18% of marksandspencer.com sales. * In an interview with Internet Retailing, Laura Wade-Gery, Executive Director, Multi-channel E-Commerce at Marks & Spencer said “Multichannel customers spend more, and as M&S adds channels, that spend continues to rise.” ("Marks & Spencer Case Study | Multichannel Vision | Usablenet") Social influences impact every business as it is customers whom have the buying power, therefore it is essential that brands keep up to date with what consumers want. In an age of E-commerce, customers are increasingly wanting easier ways to shop through the use of technology to make their shopping experience faster and more convenient. Marks and Spencer have provided this and therefore online sales have increased. This would effect the buyer for M&S as they would need to ensure the quantities of their products were being distributed in the correct amounts between stores and warehouses to be sent to online customers.

‘Marks & Spencer has teamed up with fashion darling Alexa Chung in its latest bid to attract younger shoppers.

Chung has helped create a 31-piece collection, to launch in April, inspired by the retailer’s archive.

The collaboration came about after Chung helped turn a 1970s-style suede skirt into a fashion sensation for M&S last spring after she was photographed wearing it. The chain claimed demand for the suede skirt had helped sales even before it hit stores.

M&S needs to attract younger shoppers after recording just one quarterly increase in clothing sales over the past five years.’ ("M&S Teams Up With Alexa Chung For 31-Piece Fashion Collection") Marks & Spencer used to be seen as a shop which was primarily for older women, however with the focus increasing in young fashion with the introduction of brands such as misguided and pretty little thing, M&S is no exception to this and they have bought their clothing ranges up to date to keep up with the latest trends and to keep their customers interested.

Through using fashion icon Alexa Chung to promote the brand in bringing out a new collection, Marks and Spencer have opened a new door to younger customers who would now consider shopping in their stores or online, when the company probably would never have crossed their mind before. This would effect the buyers role as they need to be aware that Marks and Spencer's target market is constantly evolving, unlike some other brands who simply target one.

This means that diverse ranges will have to be created in order to stay on top of providing for their vast customer audience.

‘In July 2012 a fully transactional iPhone app was launched with store locator, a barcode scanner which allowed customers to scan and find product information and locate items not available in-store. The app also made it possible to scan QR codes to hold “virtual baskets” for customers who started their shopping journey on another channel such as the M&S Browse and Order Point kiosks in the store. The Virtual Basket represented an early innovation at making true multichannel shopping a reality.

Created by Usablenet using its agile web services, the virtual basket allowed users the ability to create a basket of products and electronically access that basket on any M&S channel using scanable codes. Once items are placed in the basket, a QR code is generated for the customer to purchase directly on a kiosk, or by scanning the QR code using their mobile devices to purchase on their own later. The QR code could also be used at Browse & Order Points or by sales assistants carrying tablets.

Orders can be home delivered or shipped to any M&S store.’ ("Marks & Spencer

T E C H N O L O G Technology is increasingly becoming a larger part of everyday life for most people as it can help to improve everyday tasks, such as shopping.

I Marks and Spencer creating an iPhone app makes the store more accessible for many people and therefore help to increase sales.

C A buyer for Marks and Spencer would need to consider this when planning a range as not only is it going to be seen in store, but on a mobile device also therefore collections be looked at closely by consumers in order for them to decide on which pieces they A will will buy. Customers shopping online are more likely to be looking at the quality of the than those in stores as they cannot see the garment / product before it arrives L garments at their door. It is therefore important that the buyer selects items with good fabric Case Study | Multichannel Vision | Usablenet")

compositions etc and that the details of the item are clearly listed in order to encourage a sale.

‘Changing in the retailing methods via internet and eshopping , many people use this methods not only as a visitors but as a buyers , the number of customers who use this methods is significantly represents a share of the total buyers, that’s why building strong IT services can be a very good competitive advantage In M&S they are delivering new tills and point of sale software, which will speed up customer transactions and allow store colleagues to spend more time on the shop floor and less time carrying out office duties. They are also improving their trading and administration systems through investing in systems and infrastructure so that goods produced overseas can now be transported directly to all of our markets without the need to first come through the UK. This will dramatically reduce export costs and speed up distribution.’ ("Social And Technological Factors Affecting Marks & Spencer")

Newer, faster technology and administration software within the company will allow improved communications between staff and also between stores and head office. This allows information to be easily accessible and acted on swiftly. For example stock levels can be continuously monitored which helps buyers by giving them insight into what is selling and what isn’t in order for them to make any changes to current collections or simply adjust any upcoming ranges for the brand.

Task 2: Pestle work by Paige Baker-Bailey (the Guardian, 2016)

L E G A L

Marks & Spencer has become the latest in a string of UK companies to face criticism from tax campaigners over the way it structures its online sales to Europe. .

The British retailer has been expanding its online operations to several countries across Europe with a new marksandspencer.eu site, hoping to grow its business in a difficult economic climate.

But internal M&S documents seen by the Guardian show the firm's structure involves shipping goods from one country – the UK – while invoicing the transaction to another – Ireland.

Orders made through the site by customers from France, Germany, Ireland or other countries are shipped from M&S's UK warehouses – but the transactions are all made with, and charged to, Marks & Spencer (Ireland) Limited, a subsidiary located in the Republic of Ireland, which has the lowest corporation tax rates in Europe.

M&'s UK branch is paid a wholesale price for the goods it ships by M&S Ireland, and this is subject to UK corporation tax, but the rest of the retail markup is subject to Ireland's much lower corporation tax rate of 12.5%.

This process of using internal billing between countries in order to ship goods from one country when doing business in another is referred to as "transfer pricing“. However, M&S only uses this structure for sales outside of the UK: all sales in UK stores and online to UK addresses are processed through the UK and are subject to UK corporation tax.

"From a tax management perspective there may have been advantages in avoiding the UK 26% tax rate but the process and IT overhead with the additional VAT complexity may negate these advantages. Needless to say there is also the reputational damage to M&S should it be seen to be avoiding UK tax in the current climate, as seen with recent examples such as Starbucks and Amazon."

M&S’ Response: "These are not UK sales, these sites do not serve UK customers and there are no sales made in sterling. All tax is legally and fairly paid both in the UK and in Ireland.”

"The government must stop letting companies like Marks & Spencer dodge tax which could go towards funding vital public services. It's an outrage that the government is allowing this behaviour to continue while making devastating cuts across the country."

Effect on Buyer: When buyers are traveling overseas they need to be sourcing the best type of products and product design. Marks & Spencer have fell into a trap where every move they make will be watched and analysed. In order to remain competitive they have to appeal to their market which is mainly achieved through the merchandise. Customers want to know they are buying and ordering things legit.

Task 2: Pestle work by Paige Baker-Bailey

E N V I R O M E N T

(Anon, 2016)

‘Our approach to product sustainability is a demanding one, and we don’t promise that all of our products will be sustainable by 2020. But our aspiration is to make a systemic improvement across our entire product offer – ensuring that social and environmental principles are always taken into consideration and inherent in individual products, most likely as multiple attributes. Achieve this, and our customers can be confident that any M&S product they buy is better for them, for the environment, and for the people who made it’.

Effect on Buyer: Current environmental issues are voiced daily on the television, in newspapers and on the radio. All companies, industries and organizations are being highly encouraged to change old habbits when it comes to the materials they're using and how they are made. Marks & Spencer as shown in the screenshot above from their own website have established their “Plan A”. Marks & Spencer has announced a five-year plan to re-engineer itself into becoming a carbon neutral, zero-waste-to-landfill, ethical-trading, sustainable-sourcing, health-promoting business. Buyers will consider mostly the healthy relationship between themselves and production companies which should be kept professional, equal and fair throughout the entire process to achieve this Plan A.

Retail Environment  Own label retailer - Buying for an own label retailer would mean buying everything to make bespoke garments, for example; fabrics, trims, components and machinery. The buyer may be the CEO of the company or work very closely with them as it is likely to be a very small business. The role may be very varied and carry a lot of responsibility.

 High street chain – Buyers for high street chains such as Topshop and River Island work to a much larger scale as they often are international brands. Therefore the buyer will have to look at these different demographics and decide how this will influence the ranges that they bring into stores. High street retailers also need to competitively price their items as there are many similar stores all trying to sell to the same market therefore research into competitors is vital. The buyer will often have their own small section to be held responsible for, E.g night ware, shoes, children's wear etc.  Department store – Buying for a department store may vary depending on the company as some concessions will decide on which products they sell within the department store, whereas in some cases, the department store may decide and have an influence on some of the products the concessions are able to sell. E.g selecting the best sellers to sell within their department store.  Branded buying – Branded buying is when a buyer is responsible for buying branded items for a store, usually online such as Very or Asos. Branded goods are often sold alongside their own brand. Trend forecasting may not be as vital as other buying roles as branded goods will often sell regardless of trends, providing they have a strong brand name.  Independent store and boutiques – Similar to the own label retail buyer, the role will most likely require working very closely with the owner of the boutique and having varied responsibilities due to the size of the company. They will most likely buy small quantities from wholesalers and plan every range themselves from clothing to shoes and accessories.

Senior Fashion Buyer  Building strong relationships with suppliers  Analysing the market, competition and customer data to identify selection gaps and build this into range planning.  Developing and managing the promotional strategies  Developing new product groups  Work closely with marketing, merchandising and product management teams  Several years’ experience of Buying within multinational/ leading fashion business  Analytical skills and has experience in planning and forecasting.  Motivated with hands on approach  Excellent knowledge of Excel and database work, with experience in SQL as a plus  Adapt to any situation  Can remain calm under pressure  Have a passion for retail  Have analytical skills  Negotiate and network  Work in a team  Be organised  Multi-task  Be numerical  Have IT skills  Have good commercial awareness  Be creative  £50,000 - £60,000

Senior Buyer Branded  Selection and development of product proposition to ensure category strategy is achieved.  Forecast at department level ensuring critical path is achieved,  Plan the launch of new ranges  Identify underperforming brands  Staying ahead of customer demand and trends to maintain a competitive edge.  Ability to inspire the rest of your growing team.  Confident communicator  Good negotiation technique  Previous experience at Senior Buying level  Adapt to any situation  Can remain calm under pressure  Spot the next big thing  Have a passion for retail  Have analytical skills  Work in a team  Be organised  Multi-task  Be numerical  Have IT skills  Have good commercial awareness  Be creative  £50,000 - £60,000

Junior Buyer  Working with the merchandiser and designer to develop/build a product range to maximise sales and profits  Managing whole critical path from initial concept to delivery  Work closely with designers to source styles from most relevant and appropriate suppliers  Reviewing challenges and reacting to changes in sourcing opportunities  Managing and presenting to external retail partners and wholesale business, helping to drive this forward  Autonomy and exposure to senior management  To approve artwork/ proofs for labels/ tickets and stickers received from suppliers.  To approve Pre Production samples received from suppliers.  To ensure products are tested to customers required testing standards.  Develop any new labels/ tickets as requested by Sales Merchandisers.  Resolve any issues that may arise whether delivery or quality related.  To check and resolve discrepancies on invoices with the accounts department.  Benchmarking between different suppliers regularly to make comparisons and achieve the best price without compromising quality.  To liaise with logistics on shipping.  Checking all invoices and passing to Finance.  To undertake any other duties as required by line management  £24,000 - £35,000

Assistant Buyer

 Passion for the product  A keen understanding of the market place, target customer and key competitors.  Experienced assistant buyer  Ensure timely delivery of the merchandise through consistent communication  Assist in preparation for pre-market analysis and style-outs.

Support buyers in communicating related product information to affected departments.  Prepare product samples for merchandising reviews and maintain sample rooms.  Participating in vendor communication by participating in vendor presentations with Associate Buyer and/or Buyer.  Assist and support Associate Buyer as directed by Buyer  Working closely with the senior buyer, creative & retail brand teams  Make each one of your ranges a commercial success  Work with merchandising to get stock levels right  Building strong relationships with key brands and suppliers is vital.  Ambitious  An innovator  Extensive experience  Dynamic  Energetic  Ability to bring new ideas to the table  £23,500 + depending on experience

Buying Administrator

       

         

Be a key part of the Buying team, supporting the Assistant Buyer Supporting the team with Monday trade activities preparing best and worst products assisting in trade meetings Completing all administrative tasks and range plan requirements necessary for each product to meet critical path deadlines Liaising with the suppliers to ensure critical path is up to date, escalating issues and risks to deliveries Management of samples including obtaining them from suppliers, preparing samples for meetings, sealing samples, storage and disposal.

Managing the approvals process, viewing approvals through commercial eyes, understanding the vision for the final product and escalating concerns.

Knowing when approval and fit decisions will effect critical path and communicating this to the team.

Conducting regular store/website visits, understanding and sharing competitor activity with my team.

Assisting in team meetings (pre selection, sign offs and strategies) by preparing rails and samples, capturing next step notes and issues.

Knowing and liaising with department suppliers/ HUB contacts and supporting in supplier meetings.

Following our Business Code of Conduct and always acting with integrity and due diligence Retail experience, ideally within the Fashion industry Passion for clothing product Analysis and report preparation Data analysis and numeracy £16,000 - £20,000

Organisational Structure : In Store CEO Regional Manager Area Manager Store Manager

Sales Assistants

Stock Assistant

Assistant Manager

Assistant Manager

Supervisor

Supervisor

Key Holder

Security

Cleaner

Cleaner

Security

Key Holder

Stock Assistant

Sales Assistants

This is a rough outline of an organisational structure for a store. Depending on the size of the shop this could vary massively. Smaller shops will have one or two managers with few supervisors and lead sales positions with lots of lower skilled staff on the shop floor such as sales assistants, stock assistants (or these may be merged into one role), cleaning staff and security. However in larger organisations there may be more layers of management with greater spans of control for every segment. For example, head of security and head of cleaning. There may also be additional roles such as visual merchandisers, these can be external to the shop and travel round to different branches to lay out the shop floor and window dress. In comparison, some smaller stores will simply use their sales / stock assistants or management to complete visual merchandising tasks.

Organisational Structure : Head Office CEO

Managing Director

Customer Service Customer Service Manager Customer Service Team

Admin Secretary

IT

Marketing

IT Manager

Marketing Manager

IT Team

Marketing Team

Admin

Admin

Secretary

Secretary

Buying / Merchandising Head Head Buyer Merch Senior Senior Buyer Merch Junior Junior Buyer Merch Assistant Assistant Buyer Merch Buyers Merch Admin Admin Assistant Assistant

Human Resources HR Manager Head of Head of Training Recruit ment & support Recruit ment Team

Recruit ment Team

Finance & Accounts F&A Manager Finance Team Admin Secretary

Admin Secretary

This is a rough outline of an organisational structure for a head office which includes some of a companies main operations.

In large organisations the structure would be much larger with more layers and wide spans of control. However this is just an example of how the company may be laid out. For example under buying and merchandising it wouldn’t simply be senior buyer, there would be different positions including senior buyer for women's wear, men's wear, children's wear and shoes etc.

How do these types of buyers job roles compare and contrast for the different retail environment?

Concession:

High Street:

Brand:

Online:

A buyer for a concession would have to be much more selective when choosing which items get put into that concession as they tend to stock much lower numbers of products than their usual stores. However research and analysis wise, the role is mostly the same as that of a high street buyer, the clothing and other items which they purchase, and the ranges they put together need to be on trend to sell well.

The buyer may look at the best sellers from their larger stores and decide to sell those on the concession as a much safer option than perhaps the more unusual pieces.

A buyer for the high street would have to watch trends very carefully through going to trade shows, using trend forecasting platforms etc. in order for the items which they select to sell well to the public as high street stores appeal to most people, depending on their budget. The buyer would also have to know their target market very well to understand what it is they want in order to get them into the store as with the rise of online shopping, it is much easier for customers to shop around especially in order to save money. Therefore the buyer would also have to ensure that the pricing was right for garments otherwise customers will simply go elsewhere and garments will not sell, forcing them to be reduced and furthermore eat into profits.

A buyer for branded goods may not need to look into trends as deeply as all of the other job roles mentioned. This is due to branded clothing selling well purely on the brand name itself, rather than the shape, style, colour etc and it is extremely likely that the designers for the brand have already created pieces which will be in fashion anyway. Although, this does depend on the popularity of the brand and how well known it is as consumers to typically invest slightly more into branded items than they would for non branded so the items would have to be something that they desired and that there is a demand for.

A fashion buyer for an online store would also need to be on top of the most current and upcoming trends in order to attract customers.

The price points of items would also need to be very competitive so a lot of research and analysis may be required, carrying out comparative shops etc. This is due to it being easier for customers to shop around on different websites to find the best price on garments for them. However this would depend on the company as an Asos or Missguided customer would be completely different to a Calvin Klein customer.

Overall, all of these job roles require the same type of work, however they will all differ slightly depending on the size of the company, the type of customer etc.

Significance Of Buying Environments.

Buyer & Merchandiser The buyers and merchandisers work very closely with the merchandisers as the merchandisers are the ones who have authority over the budget and

are in control of the quantities of stock bought by the buyer. Weekly sales stock intake or the WSSI reports are used by the merchandiser to forecast sales which aids the buyer in determining whether or not the buyer needs to buy more stock or alter delivery dates on best selling collections. These WSSI reports are updated on a Monday so that they include weekend sales and give a clear indicator of present and likely future sales. Buying more ‘best selling stock’ rather than ‘poor selling stock’ is the main priority of the buyer and merchandisers relationship to ensure that they meet targets to create good profits for the company.

Buyer & Visual Merchandiser The buyer and VM may work together also, however not as closely as the merchandiser. It is important that the buyers collection is laid out

correctly on the shop floor, in the window and online as if the garments do not look appealing to customers they will not sell. Therefore the buyer should translate their ideas / concepts to the visual merchandiser in order for the range to be presented as the buyer feels would work best for the range. This may be done through exchanging concept boards and talking over ideas etc. until a compromise is achieved on the best way to display the collection.

Buyer & Design Buyers and designers would also work closely together at the beginning of the range planning process as the buyer will have an in depth knowledge of

upcoming trends for the season they are buying for through conducting primary research and secondary research. Therefore they will have a vision of what the collection is going to look like in their head in order to sell well. However it is the designer who has the skills to bring the buyers concepts to life therefore they will need to communicate on both a verbal and visual basis, again to exchange concept boards and ideas to develop the range. Discussing colours, shapes, prints, fabrics, trims and much more will need to be decided upon as the designers will create new styles for the buyers to select from. Without a good design the garments will not sell and furthermore reflect badly on the buyer.

Costings would also need to be discussed as the buyer would be aware of the budget per item and so then the designer knows how much the design would roughly cost to produce, having a direct impact on the amount of trims used / fabrics etc.

Buyer & Marketing It is important that buyers work with the marketing department to ensure that the correct promotion and advertising is carried out in order to represent the collection. The marketing team will need top be aware of the labels target market, which the buyer can inform them of with a detailed description of their vision of what they think would work, as they know their customer better than most departments as they are buying the items they are going to buy after all. This may also include concept boards etc.

Buyer & Retail Buyers would work with store managers and area managers to ensure that the correct products reach the correct stores at the correct time and in the correct quantity so that they sell well. It is important that buyers receive feedback from stores, discussing information about how that particular range is selling, whether its popular etc.

This is so that the buyer can either order more of a certain product if it is selling well, or check to see if it is being presented in the store properly etc.

Buyer & Technologist Buyers would work with garment technologists to develop and monitor quality control systems in order to produce good quality garments and reduce the number of faulty items as these will be returned to the store, cutting into profits and damaging brand image.

Merchandiser

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Review daily and weekly sales Generate all departmental reporting Re-forecasting sales, intake, markdown, profit and stock levels Review the forecasts with the Buying team and ensure strategic decisions are made in order to maximise profit.

Strong analytical skills, an ability to monitor sales and stock position.

Previous WSSI experience, controlling stock levels and OTB, based on weekly sales and stock intake.

Able to react quickly in this fast E-Commerce retailer.

Work with the Buying team in the UK and China to plan and buy balanced and commercial ranges.

Creation of a seasonal plan and strategy for sales, stock, margin and markdown.

Critically analyse and interpret data and sales to make informed recommendations.

Work with the Head of Merchandising to work towards developing new merchandising tools.

Coach, motivate and develop Assistant Merchandisers within your direct team.

Previous experience as an experienced Merchandiser within a fast paced retailer.

Experience of influencing at a senior level.

Strong analytical skills with business acumen.

Confident to pitch ideas at a senior level.

Ability to work in a detailed and accurate manner and deliver consistent data.

Proven ability to influence both internally and externally.

Passion for the role. £38,000 – Dependant on experience

E-Commerce Merchandiser  Partnering with Buying to select and plan the ranges for different channels.  Working with E-com merchandisers to plan and trade websites.  Working with the International sales teams to plan pricing and trading wholesale.  Producing historic and in season sales reports, analysing sales patterns and trends and forecasting stock levels, OTB and making strategic commercial decisions,  Supporting the International sales dept. with data management, analysis and reporting.  Responding to trading figures to ensure sales and profit targets are achieved.  Identifying selling opportunities in the different channels and moving stock accordingly.  Proposing and implementing stock optimisation / markdown strategies including suggesting E-com promos and trade discounts to drive sales/clear excess stocks.  Identifying and providing Private Flash Sale stock lists for events.  £25,000 - £35,000

Stock allocation

•Provide administrative support in all matters relating to orders and allocations •Ensure all computer systems, reports and order checkers are maintained •Timely and accurate information is supplied to the different branches and sales teams accordingly •Allocating stocks to a set time frame with volumes, product details and with the dates orders to be received communicated out to Area Sales Managers and Sales Representatives.

•Collate and monitor orders and ensure any issues are fully communicated •Work with suppliers to ensure stock is available for our teams to order and sell •Be the point of contact for both employees and suppliers with regards to orders and maintain various reports and ordering systems •The person Educated to GCSE level with A-C in Math’s and English.

•PC literate (Microsoft Office – Word, Excel, Project, Power Point & Outlook).

•Excellent Interpersonal Skills.

•Ability to communicate at all levels with sound interpersonal skills.

•Competent in time management.

•Ability to plan and organise work efficiently.

•Ability to deliver, achieve and maintain excellent standards of work.

•Ability to work effectively in a team and on own initiative.

•Ability to work under pressure & meet deadlines

Major Task : Unit 10

Joy Catesby-McCabe

14/11/2016

I have chosen to plan a range for ASOS men's. This is due to the majority of online stores targeting primarily women.

ASOS already have their own men's range however it is not as heavily focused on as the women's. Competitor Boohoo.com have recently released their men's range and have heavily advertised it therefore ASOS should keep up to date with their men's range.

As my range will be released for S/S 17 I will look into the trends which are predicted to be popular at this time through trend forecasting websites. Without conducting much research yet into my initial idea I would say that during the S/S season ASOS becomes very popular for prom wear for women, however not so much for men.

Although ASOS sell suits they are mostly plain, and average looking. However I want to target the stylish man who is very aware of fashion trends as ASOS claim to do in all other areas. Around spring/summer time the ASOS prom range for women is extremely popular therefore I may bring a prom range in for men.

• • • • •

Customer Profile – identify the current target market and the customer I may be able to bring in due to collection Mood Board - showing store & target market Brand History – how the business is run and things a buyer would need to be aware of which could effect my range SWOT Analysis – identify strengths, weaknesses, opportunities & threats of / to the business and how to use these to my advantage Trend Forecasting – use websites such as WGSN to get a greater understanding of what will be popular for the season. Using blogs, magazines etc (Global) Pinterest • Mood Board / Concept Board for collection – get my ideas down visually to inspire my range • Comparative Shop – find out products / price points of competitors • Build the range using Photoshop / CAD’s from WGSN • Buying cycle to show how the range plan will go into production • Produce business plan for when the range launches • Report on business strategies (Global) • Produce a financial spreadsheet • Marketing – how would I advertise • Evaluate & peer assessment To conduct all of these points I will be using the internet to research and some other forms of research i.e books, magazines etc. From information that I find I will report back on the parts which I deem as necessary and then critically evaluate them in order to come to decisions about my range and what I believe would work well.

Throughout this project I will be continuously evaluating my progress by keeping a log of my research / work done as I go through the project. This will allow me to reflect on the work I do and help to identify where I could go back and improve as I get further through the task. I will do this by writing my thoughts / next steps in it after completing every section which I plan to carry out. This could even help to identify if any further research or slides need to be added in to my plan which I did not foresee that could be of use to planning my range.

Action Plan

METHOD

Business Plan

Progression Log

General Mind Map Brand History

Customer Profile Mood Board x 6 SWOT Analysis

Trend Forecasting Concept Board

DATE

15/11/2016 – 16/11/2016 Ongoing Until Completion

COMPLETION ✔ ✔

7/11/2016

✔

7/11/2016

✔

8/11/2016

✔

8/11/2016

✔

21/11/2016

✔

21/11/2016 22/11/2016

✔

Comparative Shop

22/11/2016

✔

Build The Range

23/11/2016 – 28/11/2016 29/11/2016

✔

Buying Cycle

Financial Spreadsheet Marketing

Evaluation

Peer Assessment

Check All Work & Hand in

23/11/2016

29/11/2016- 30/11/2016 5/12/2016

6/12/2016 7/12/2016

✔ ✔

Progression Log METHOD

COMPLETION

EVALUATION

Business Plan

✔

Creating a business plan allowed me to plan out short, mid and long term aims in order to set objectives to work towards.

General Mind Map

✔

I found that this was a useful task to start my research into my brand as it gave me a quick insight into ASOS and started to give me ideas.

Brand History

✔

Researching the brand history informed me of how ASOS has built its success and gave me some ideas as to how I can add to this. Eg. Expanding the mens wear range.

Customer Profile

✔

Completing a customer profile now means that I understand my customer more which will help me when building the range as I can figure out what will appeal to them.

Mood Board

✔

An initial mood board allowed me to look on the asos website and see what styles were currently on there, as well as starting to collect a few images which I believe will represent my theme well. However I will need to wait and see whether trend forecasting will change my initial idea.

SWOT Analysis

✔

Conducting a SWOT analysis has allowed me to see the strengths, weaknesses, opportunities and threats of ASOS and how I can use these to my advantage in order for my business plan to be successful.

Trend Forecasting

✔

I enjoyed this element of my research as it allowed me to look at upcoming trends from across the globe and allowed me to pick certain elements from a few different trends to feature in my range in order to ensure that it is on trend and will appeal to my target market in S/S 17.

Concept Boards

✔

Creating a variety of concept boards allowed me to condense the main features of my trend forecasting into visual boards so that they were more clear for me to look at and pick elements for me to design the range around.

Comparative Shop

✔

Completing this comp shop meant that I got to see what other rival brands have in stock and for what price etc. It was important to complete this market research in order for my range to be competitive in price and to also see what fabrics were being used and whether this influenced price.

Buying Cycle

✔

The buying cycle helped me to understand the different stages involved as a buyer.

Build The Range

✔

This is the section which all of my planning and research had been leading up to so it was important that I got the designs very closely related to my concept so that it will be popular on ASOS.

Financial Spreadsheet

✔

Completing the financial spreadsheet helped me to understand the role of a merchandiser and how analysing data helps to assist the buyers decisions.

Marketing

✔

I enjoyed looking into the best ways to market my range to my target consumer as it allowed me to research into different creative marketing techniques such as using social media platforms.

Evaluation

✔

I have completed my evaluation In order to reflect on the project.

E-Commerce

High Fashion

Up To Date

Fashionable

Affordable

Women's Successful

Men's

Everyday Wear

‘Twenty-something fashion lovers’

Maternity

Plus Size

Blogger

Mood Board

Business Plan Summary

I will be creating a S/S 17 suits range for men on ASOS.com. I have decided to do this due to the threat of E-Commerce rival Boohoo.com releasing a tailored men's range. I have also noticed that from ASOS’ website that the women's range is focused on much more than the men's and that the styles are perhaps more of a safe option and at a less affordable price point. ASOS claim to be for the fashion conscious individual but I want to make a range for men that is focused on the very latest trends with a unique style and showcases street style from across the globe to target the truly high fashion customer.

This will be in order to help ASOS reach its ‘ambition to become the worlds NO.1 online fashion destination for 20 something's’.

‘Suits You’

This will be the name of the collection as it will provide a range of suits to meet the needs of a ‘20 something’ year old man who is extremely fashion conscious and wants to look unique, hence the play on words telling customers that ASOS has a range of suits, that will suit any style, no matter how out there it is. I will do this through creating both casual and special occasion suits.

Business Aims

 Short Term - Produce a range which will stand out from the rest on ASOS.com which is good quality, high fashion suits for ASOS’ affordable price in order to stay competitive due to Boohoo.com. Furthermore, do this in keeping with ASOS’ main aims and objectives.  Mid Term - Release to UK market initially with good marketing plan in order to target the market correctly.  Long Term - Plan to expand the range globally if successful

ASOS

There are four main types of company: Private company limited by shares – "Limited by shares" means that the liability of the shareholders to creditors of the company is limited to the capital originally invested, i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company (Google.co.uk, 2016) Private company limited by guarantee – These are usually for non-profit organisations, they don’t have shareholders, however have members who act as guarantors.

Private unlimited company - An unlimited company or private unlimited company is a hybrid company (corporation) incorporated with or without a share capital (and similar to its limited company counterpart) but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint, several and nonlimited obligation to meet any insufficiency in the assets of the company to enable settlement of any outstanding financial liability in the event of the company's formal liquidation. (En.wikipedia.org, 2016) ASOS is a PLC, this means that it is a Public Limited Company. This is a company that is able to offer its shares to the public.

Service Outfits created with pieces from the collection and worn by bloggers who would have an influence on the target market. As I am targeting men who are very fashion conscious their purchasing decisions will be influenced by fashion icons who wear the suits.

Free returns will also be offered as ASOS already do, which will encourage people to buy from the collection as they have the peace of mind that if the suit does not fit correctly they can return the item quickly and simply or even order multiple sizes in order to choose the best fit.

What I’m Selling‌

I will be selling a range of high fashion suits for an affordable price. The collection is for S/S therefore will incorporate some bold patterns and colours to ensure that statement makers can find the perfect summer suit to match their style and personality.

Product A collection of men's suits for S/S which appeal to fashionable men within the age bracket 18-24.

On the ASOS website, when an item is being viewed, similar items from the collection or shoes and accessories will be recommended to go with the outfit. This will make the ASOS shopping experience easier and more enjoyable for the customer and will therefore encourage repeat sales.

Elevator Pitch

‘Suits You’

Suits With Personality The idea for my ‘suits you’ range stemmed from a gap I noticed on the ASOS website. If you’re looking for a special occasion dress, or just a casual one, ASOS has you covered. From plain, elegant and timeless pieces, to bold, statement garments from very affordable prices.

However if you need a stylish suit that will blow people away on a budget, well you might be searching for a while…

‘Suits You’ is a Spring/Summer Collection for ASOS own brand which provides high fashion customers with affordable suits to express their individuality through on trend designs, inspired by the latest street styles across the globe.

The collection will be packed with features from the latest trends with the hottest colours, patterns and shapes to appeal to ASOS young and extremely stylish customer base.

The collection will be marketed to the target market of 18-25 year olds through social media, the monthly ASOS magazine and also featured on a male fashion icon using the hashtag #ASSEENONME which ASOS promotes in order for customers to see how bloggers wear their garments.

Business Plan Analysis My short term business aim was to research into and design a collection which would appeal to ASOS’ male, young target market. I have now completed this part of my business plan, which is displayed on the following slides. My mid-term aim was to have the range released in the UK to trial the range and see which products were selling well, in order to then move onto my long term aim to release the range internationally through ASOS’ varying websites across the globe. This is why it was important that my range was inspired by global trends so that they collection would appeal to consumers on a global scale. To do this I researched into the most prominent global trends when conducting my trend forecasting and put some elements into my collection. Through looking at the sales figures on the left, I would then be able to see which garments are selling well and which aren’t in order to make any changes to the range I felt necessary before releasing it globally.

Furthermore, I would have to take into consideration the demographics of certain countries in order to figure out what parts of the collection should be sold and in what quantities etc.

Brand History : ASOS In 2000, “as seen on screen” (ASOS) was launched, however it was not until 2003 that the company began to make large profits when it introduced its first own brand women’s range – From the start womenswear has been their main focus.

2005 saw the introduction of ASOS beauty, further expanding on the customers which they already attracted. Shortly after the introduction of new ranges, the buying and merchandising team doubled in numbers in order to keep the fast growing business up to date with the most current trends.

ASOS own label for men was only introduced in 2007 with a further expansion of the ASOS team, this is also when ASOS launched their magazine which is still released monthly as a way to encourage sales. In 2008 more designer labels were released onto the ASOS website which introduced a new customer to the ASOS who expect good quality and good customer service, this is where ASOS premier came in, giving customers next day delivery for under £10 per year.

In 2010, ASOS marketplace was launched, giving a fresh outlook on bespoke and second hand clothing, encouraging the rise in unique fashions and street style. The launch of their mobile site saw profits rise dramatically as technology grew. In 2012 ASOS went global by opening their first international offices. Different countries are supplied with different websites. In the present day ASOS has over 9.9 million online customers and shows no evidence of slowing down as further expansion plans are underway.

Customer Profile ‘Our core customer is the twenty-something fashionlover: an avid consumer and communicator who is inspired by friends, celebrities and the media.

We are obsessive about understanding them so we can join their conversation and offer them the fashion they want.’

Twenty-something consumers lead digital lives: they have instant access to information, communicate constantly with friends and broadcast their daily lives and thoughts across the social networks. For them this level of communication and interaction is what they’ve grown up with.

And fashion matters to them: 67% of under-25s believe how they look is important with almost three quarters of all young women saying they enjoy shopping for clothes*.

That’s because fashion is also entertainment. These young consumers don’t just like to shop online. They follow and often comment on celebrity trends; they blog their own “fashion editorial”; they broadcast their thoughts on style in soundbites on social networks and via YouTube.

How do they like to shop?

Two thirds of those aged 19-25 shop online because it’s faster and easier**. And they are responding in different ways to the financial squeeze – for example, in the UK we’ve found that the 18-21-year-old group is the most likely to shop according to discounts compared to those in their mid or late twenties*. * Mintel Young Fashion Report December 2011 ** ASOS Finance analysis by age bracket February 2012 (Asosplc.com, 2016)

Gender : Male Age : 21 Interests : Fashion, Blogging The ASOS customer is young, fashion conscious and wants to express their identity through the clothing that they wear. ASOS describe their average customer as ‘TwentySomethings’ who want to set and follow the latest trends to assert their individual styles.

Due to their young target market of roughly 18-25, ASOS has succeeded in producing a purely E-commerce business providing clothing and accessories to their customer base who live digital lives. Fashion matters to an ASOS customer therefore my range will have to be on trend for the S/S season.

My customer would have a faced paced lifestyle, constantly on the go attending events around their day to day life. This means that I will have to design a collection which could fit in both with the more casual side of their lifestyle, as well as creating garments which would make them stand out from the crowd at parties / events.

I think that a good way of targeting my customer would be to promote the range over social media and model the clothing on a fashion icon relevant to them.

Market Research : Competitors Boohoo.com is one of ASOS’ most prevalent competitors with their new launch of men's tailored collection. The brand has only recently launched in men's wear where as ASOS has had a menswear range for many years. This newly created hype for men's wear online created by the advertisements from Boohoo may lead customers towards their website rather than ASOS. Therefore as this is a threat to the company, I will be bringing in tailored men's garments as part of my range. However, its newest range has not yet been released therefore unsure of their price point I believe that it would be beneficial for me to stay at an affordable, competitive price for my range.

Trend Forecasting : Main Trend The psychotropical trend offers an extravagant take on nature through the use of stylised patterns, eccentric textures and amazing colour effects.

The vibrant, saturated colours and tropical patterns are perfect for a high summer trend, whilst the more neutral botanical elements are stunning for spring and carry through to summer.

This concept is perfect for a casual look with sports-influenced pieces as well as high fashion, formal pieces depending on how deeply the looks are expressed.

Inspiration comes mostly from plants and wildlife with prints and textures mimicking hyperreal elements seen in the jungle. Animal prints are also a huge factor. Building on that, is the influence of sea life also.

For a toned down and more slick look, camouflage and darker shades are the colours and prints to reach for.

Synthetic materials with smooth, shiny and metallic looks are very relevant to this theme.

Day to night versatility is important as the focus grows on season-less products, for example ‘beach to bar’.

SPORTY SUIT The Look : The sportswear trend continues into this season. The sporty suit blends functionality with a sporty cut and smart appearance to create a relaxed tailored style.

This may be achieved through cuffed trousers or splice jackets for a modern look.

The Look : The quirky detail suit is perfect for young men with confidence who express their personal style through the quirky details they add to flat styles. Main features will add a punkish, outdoorsy or simplistic detail to create a youth inspired piece of tailoring.

This will most likely reflect subcultures and street trends.

QUIRKY DETAIL SUIT

DANDYISH BLAZER The Look : The

The Look :

dandyish blazer will add a sense of luxury to the male tailoring trend with satin covered buttons and lapels.

The shape most likely in the form of a traditional tux. For summer the blazers usually do not come fully lined to add comfort. The ultimate dandyish blazer will be complete with bold fabrics choices, embroidery and brocade. Perfect for the youth market.

Sophisticated checked slim suits with neat lines, perfect for both occasional and daywear, possibly even day to night wear for a young stylish professional. Using traditional shapes to send a grown up message. This style will appeal to a broad audience, however bolder checks would be greater received by a younger market.

CHECKED SUIT

CONTRAST LAPELS & TRIM The Look :

The Look : This

Contrast lapels and trims will add that extra detail to make the garment stand out from the rest. This will range from subtle colour changes, like the one shown on the left, to much bolder options with a change of colour, texture and even pattern.

Other components may be set to stand out also such as buttons and button holes.

look creates a smart, put together style which a suit gives, without the formality. Achieved by teaming a collared zip through jacket with a jogger style trouser. Light weight fabrics for this style would work best to create a relaxed look for summer. The concept and styling for this trend will gear it towards a younger audience.

MATCHING SET

STATEMENT STRIPE The Look : This is

The Look : The

a bold look for the confident, fashion conscious individual.

Both nautical and more traditional styles come through from this trend with a dramatic twist to create a statement suit.

Hand painted looks are perfect for high summer. The audience that this look will appeal to is totally dependant on the style and scale of the stripes, e.g. smaller scale stripes are universal.

perfect way to make a suit cool for the summer is a shorts suit. The seasons key colours, prints and fabrics will feel more summery when applied to a suit of this style.

The shorts suit for S/S 17 is best paired with kneelength tailored shorts, and jackets are SB2. This means that they are single breasted and two-buttoned.

SHORTS SUIT

COLOUR The Pallet: The phsychotropical colour pallet is very intense with bold, vibrant shades mixed with more neutral, natural shades.

All reflective of a tropical environment mixed with that of sea life.

Inspiration is mostly taken from plants and animals.

Metallic tones showcase the more modern, sporty side to this trend.

(WGSN)

Prints & Graphics

The Pattern: Classic checks in muted tropical greens and deep blues are most popular with other design features such as warm ombre fades.

The Pattern: Camouflage gets revamped with a range of organic motifs.

It’s a versatile way of changing up a classic print to fit any design whilst giving the same effect.

The Pattern: “Naturally occurring glows as well as artificial city lights inspire euphoric ombre effects” (wgsn)

The Pattern: “botanicals and peculiar plant forms are enhanced and rendered in exquisite detail”(wgsn) “inspired motifs such as animal markings and feather patterns”(wgsn)

Textiles

The Fabric:

The Fabric:

The Fabric; High-

“the blurring of gender boundaries coupled with the trend for day to night dressing informs a demand for statement pieces that transcend the confines of traditional boundaries.

Combine dark with tactile shimmering surfaces to bring a sense of sophistication”(wgsn)

Light weight cotton is perfect for summer with “patterns and deep blue colours seen in the ocean inspire watery effects on denim and casual cotton shirting.

Luminous markings are created with bleachedout effects.”(wgsn)

gloss fabrics usually not conventionally used for menswear comes into fashion as a new way to make a statement for confident dressing.

Patent leather, glosscoated wovens, foiled denims, supple satimn and sporty polyester are all great ways to achieve this look.

EMBROIDERY

The Style; Embroidery makes its way into mens fashion adding a delicate touch with the use of floral motifs inspired by nature. This is reminiscent of Japanese embroidery. Nuido is ‘the way of embroidery’ which originated more than 1600 years ago.

(WGSN)

STREET STYLE : Pinterest NEW YORK

New York street fashion is very relaxed and gives off a chilled vibe whilst also looking very put together, ensuring that everything is matching for the perfect smart casual look. Khaki and neutral shades are very popular for the upcoming S/S season.

PARIS

LONDON

Paris street fashion is slightly more sophisticated with men taking pride in the trends that they incorporate into their own personal styles. Some of the most stylish men featured in the street style at fashion week posts use trends such as embroidery and 3 piece suits to express their passion for fashion.

Perhaps a more subtle way to encompass a trend.

London street style for the up and coming seasons is full of denim, even the most fashionable daring to go double denim. The embroidery trend follows through to S/S 17 and progresses further into male fashion.

MILAN

Milan street style, similarly to Paris is very sophisticated with matching sets and 3 piece suits.

The embroidery trend is also a huge trend.

Analysing Trend Forecasting

Analysing Mood Boards

Overall, I think that through using WGSN to trend forecast, I feel that I have gained enough knowledge to create a successful range for ASOS which will be on trend for S/S 17. I have researched into many trends to find out the key shapes, colours, fabrics and patterns for the upcoming season and written a brief overview of them as well as some visuals. I have done this in order to make the different trends clear in my head so that I can now decide which trends will fit into my collection the best in order to make it a success. This was a very useful task to carry out as without conducting trend forecasting my collection may not sell very well.

Completing mood boards inspired by my trend forecasting using photoshop has allowed me to be more creative with the ways in which I display my ideas. Through selecting the stronger trends which I felt could be successful, I put together mood boards to display the different themes which emerged. I split these into categories of print & pattern, colour & texture and key shapes.

This allowed me to expand on my initial ideas and inspired some elements of my main concept board which I can now use to form my collection. Due to conducting the trend forecasting, and from this creating mood boards, my collection should have strong links to the ‘Psychotropical’ theme.

Furthermore, it gave me some ideas for the designs of the pieces which I may never have otherwise thought of as well as colour pallet and other ideas such as the influence of street style. Looking into different street styles from across the globe should help me to ensure that my collection would appeal to people from around the world in the most high fashion destinations when my long term aim of releasing the collection internationally.

Other factors such as the embroidery from Japan, showed me how different global influences impact fashion further as I found that the embroidery trend could be seen in Milan, London and Paris.

Comparative Shop Image

Shop

Price

Fabric Composition

Description

ASOS

£40.00

100% Cotton

ASOS Skinny Blazer in Washed Cotton in Red Midweight washed cotton Notch lapels Two button opening Fully lined with internal pocket Functional pockets Skinny fit - cut closely to the body

Next

£60.00

Main 69% Polyester, 29% Viscose, 2% Elastane. Lining 80% Polyester, 20% Cotton.

With two-button fastening and single back vent.

Dry clean only.

River Island

£40.00

5% Elastane, 60% Polyester, 35% Viscose

Smart, printed jersey Skinny fit Button-up fastening Three external pockets Notch lapel

Topman

£55.00

76% Polyester, 24% Viscose

Skinny fit Notch lapel Single breasted Two button fastening Two front flap pockets and one breast pocket Two internal pockets Soft jersey fabric

Comparative Shop Image

Shop

Price

Fabric Composition

Description

ASOS

£80.00

83% Polyester, 16% Viscose, 1% Elastane

Smooth woven outer Fully lined Baseball collar Zip opening Side pockets Fitted hem and cuffs Regular fit - true to size

Next

£35.00

77% Cotton, 11% Nylon, 10% Polyester, 2% Elastane.

Black Bomber Jacket

River Island

£40.00

100% Polyester

Jacquard fabric Camouflage print Regular fit Zip front fastening Ribbed trims

Topman

£50.00

96% Polyester, 4% Elastane

Classic bomber shape Zip fastening Elasticated neck, hem and cuffs Statement faux fur front with contrast back and sleeves

Comparative Shop Image

Shop

Price

Fabric Composition

Description

ASOS

£40.00

56% Polyester, 42% Viscose, 2% Elastane

ASOS Slim Suit pants in Black and White Baroque Jacquard lightly-textured jacquard Contains stretch for comfort Zip fly with button fastening Hook and bar closure Side pockets and one back pocket Cropped length Slim fit - cut close to the body

Next

£35.00

Trouser 98% Cotton, 2% Elastane. Belt 100% PU.

With zip fly.

Machine washable.

River Island

£40.00

76% Polyester, 24% Viscose

Prince of Wales check Skinny fit Concealed zip fly fastening Cropped length

Topman

£50.00

98% Cotton, 2% Elastane

Cropped hems Pleated detail to front Zip fly and concealed fastening for a smart and tidy finish Turn up hems Belt loops Two side and two back pockets

Comparative Shop Image

Shop

Price

Fabric Composition

Description

ASOS

£50.00

100% Polyester

Silky woven fabric All-over embroidery Point collar Button placket Chest pocket Regular fit - true to size Machine wash

Next

£28.00

100% Cotton

Checked shirt

River Island

£25.00

100% Cotton

Contrast colour lining Regular fit Long sleeve Buttoned front Chest pocket

Topman

£35.00

100% Viscose

Classic fit Classic collar shape Lightweight drapey fabric

Comparative Shop Image

Shop

Price

Fabric Composition

Description

ASOS

£60.00

60% Cotton, 37% Polyester, 3% Spandex

Soft-touch woven fabric Contains stretch for comfort Concealed zip fly Side slant pockets Two back pockets Skinny fit - cut closely to the body Machine wash

Next

£14.00

Shorts 100% Cotton. Belt 45% Polyester, 32% Viscose, 23% Cotton

Smart Oxford short with zip fly and belt.

River Island

£30.00

97% Cotton, 3% Elastane

Cotton Slim fit Button fly fastening Five pockets Turn-up hems

Topman

£22.00

100% Cotton

Stretch skinny fit Regular length Turn up hems Belt loops Side and back pockets Crafted in a cotton twill fabric, woven for visible texture

Through conducting this research into what other brands are selling, I am now aware of the price points which I should set for my garments in order to remain competitive.

I chose the retailers based on some google search results.

When I searched for different phrases such as “mens suit” “mens blazer” and “mens casual suit” it was these 3 other retailers which appeared on the internet first. Therefore I decided that it would be best to use these websites, as ASOS is purely an E-Commerce business the target market is likely to search online for clothing first before purchasing online or visiting in store.

Furthermore, these retailers, especially Topman and River Island are places which my consumer would usually shop in

RRP £35.00

RRP £40.00

RRP £45.00

RRP £30.00

RRP £25.00

RRP £40.00

RRP £30.00

Psychotropical S/S 17

Pitching Concept & Range Feedback & Analysis I think that the range which I have created links very well to my concept board as I have kept to the key colours which I featured from my trend forecasting. I have kept a consistent theme of the muted khaki combined with the bold, bright orange, pinks and blues which highlight the theme further with the use of tropical leaf prints in corresponding colours.

Furthermore, I have used the tiger pattern from my concept board on the backs of all of the bomber jackets in order to add some animal print to the collection and also represent the global element to my collection. This is due to the embroidery technique being inspired by Japan which I featured in my trend forecasting. Moreover, I used this design as I focused on embroidery in my global street fashion forecasting from Pinterest as the trend was coming through from some of the most fashionable designations, such as Milan, Paris and London.

The products which I have created link very well to the type of customer which I plan to target as the suits and other garments have a very unique look which would be worn by men interested in the latest fashions with a quirky style. As I noted in my consumer profile my customer would have a very busy life style during the day and night, therefore this range is full of interchangeable outfits. For example, the relaxed fit suit pants could be worn with a shirt and bomber jacket during the day. However in the night time, the bomber jacket could be replaced with the blazer to create two different outfits simply with the change of one item.

Overall, the range is designed so that customers can pick their favourite garments to create a unique style which is bound to stand out from the crowd.

Merchandising Spreadsheet

Sales Per Week Chart

Merchandising Spreadsheet Analysis The process of stock planning requires the use of numerical skills in order to spot trends within sales figures to then use the information to improve and develop profitability. A merchandiser would have to do this to identify the best and worst sellers to ensure that any mistakes from the previous season are recognised and not repeated. An EPOS system (electronic point of sale system) is used to transfer this information so that the data can be analysed in order to help make decisions about replenishment to stores as products sell, or perhaps mark downs on items which are not selling.

This task has helped me to realise the importance of analysing sales figures and how it impacts the fashion retail industry.

Factors such as replenishment had to be considered. Replenishment stock is usually 15% of the overall quantity, it is the amount of products required to replenish stock which has sold in order to create further sales. I also learnt about open to buy (OTB) which is a proportion of the budget kept aside for purchase of repeat best sellers or a fast fashion item which if the buyer does not put into stores, they will miss out on a sales opportunity. This is usually 30%-40% of the budget.

Using like for like data of products has allowed me to forecast sales of particular items to work out how many of each garment would sell and therefore how many of each I would need to buy. From the data I have accumulated I can see that the two types of shirt are going to be the best sellers (selling 610 in 8 weeks in comparison to the worst seller, only selling 180 within the time frame). This may be due to them being easy to wear with a range of outfits, whereas some of the other items may not be very easy to pair with garments pre-existing in the target markets wardrobe. Identifying the best and worst sellers helps to see what needs replenishing or marked down in price etc.

The profit margins on different items vary as some will cost more to produce than others, this will be dependant on the manufacturers price as costs of materials may vary. For example a polyester cotton blend may be cheaper to produce than a garment made from 100% cotton.

Marketing Strategy Overview Types Of Research : Desk Research – Desk research is using information from the internet and books to gain an understanding about the market that the business is targeting. It is useful to find out:  How big the market is  Trends in the market  Important facts / stats / events which may influence customers  Seasonal / Dependant on any other factors Field Research – This is a good way of gauging whether a new range will be successful as it involves asking customers their opinion of the new range / idea. This can be done through questionnaires or test trading by showing potential customers images from the range and ask questions about them. Yes / No questions Specific Questions

The type of research I will be conducting is most likely to be desk research, as ASOS only has an online and mobile platform. This restricts how consumers can be reached. If ASOS were to have a shop, customers could be approached about products in store. However there are effective ways in which it could be done.

Contacting Consumers – Marketing Strategy

It is important that consumers are made aware of the new range coming into stores and are enticed to shop the range in order for it to be a success. This could be done through many ways for the ‘Suits You’ range for ASOS.  Featured on the first page of thee ASOS website so that it is the first thing a shopper would see as they enter the website. (This would target pre-existing customers).  Using social media platforms such as Instagram, Facebook, Snapchat & Pinterest. (This would target both existing customers and new ones)  Use fashion bloggers with the unique style to promote the clothing using the #ASSEENONME which ASOS invented. This method allows anyone who buys / promotes the range to share how they have styled their outfit on social media or the ASOS website.  My market are part of the digital age therefore I think that the best marketing strategy is to target them through online platforms E.g e-mails etc.

Reaching 48.1K people

Marketing Strategy ‘Suits You’ #ASSEENONME : Ideal Candidate

Camby Manuel Is a British fashion blogger whom has a following on Instagram of over 12k. The people who follow him on all of his social media platforms are young men who follow fashion and street style very closely. They take fashion inspiration from Camby and are most likely make fashion decisions influenced by the clothing that he wears. On all of his Instagram posts, Camby uses hashtags to inform his following of the items which he is styling.

I have taken a screenshot of one of his most previous caption from a post where he tags street style, men's wear and also the labels of the items.

This would be a very good way to reach my target market if Camby were to use #ASSEENONME and other tags which would attract customers to the range on ASOS.

How I Will Reach My Customer

INSTAGRAM AD

ASOS SUITS YOU Extra student discount on the range

Promotional E-mail

SUITS WITH PERSONALITY

Be on the cover of the ASOS magazi ne

ASOS homepage

To the right is an example of the buying cycle, however this is a general representation of a buying cycle and they can vary from business to business. This is due to varying retailers having different time constraints. Fast fashion for example, companies such as Primark etc. have to work to a much quicker schedule in comparison to buying and branded buying.

Design buyers will have to attend trade shows to view things such as fabric and textures, fast fashion buyers on the other hand will constantly have to keep up with key shapes, colours and trends. They will have to have these prepared as fast as possible in order to keep up with other retailers to ensure they go out to market on time. If they do not do this, they may miss the trend and lose out on money as the products may not sell once the trend has passed. For a fast fashion company, one of the most important factors for the buyers is the budget planning. Merchandisers and buyers will work closely to ensure the budgets for that buying season are fully understood. Buying seasons tend to be every 6 weeks, this is a very short amount of time in comparison to other types of buyers as they usually work to seasons which alternate every 6 months. Branded buyers would tend to visit trade shows at least twice a year, whereas fast fashion buyers have to have there eye constantly on the look for new trends appearing so may use other forms of research such as social media. “fashion is not only to be found at haute couture fashion shows, but can be found

on the street or even in charity shops or second hand shops. Good fashion buyers leave no stone unturned as to where they seek inspiration for the next fashion trend. Being out and about looking in clubs, street markets, parks and beaches – in fact, most public places – is part of the daily life of the best fashion buyers” (Fashion Buying & Merchandising Management- Tim Jackson & David Shaw) Furthermore, fast fashion buyers will frequently conduct trips in order to complete comparative shops, this helps a buyer to see what their competitors are selling for what price in order for them to remain competitive within the same market. Where price negotiation is concerned, fast fashion is usually also known as ‘affordable fashion’ this is because as a trend will not last a long period of time, therefore consumers are usually not willing to pay huge amounts in order to keep up with the latest fad fashion. This also means that quality of the garments it not one of the most important factors. Being a fast fashion buyer means that you'd have to try and negotiate the lowest price as possible due to these factors and also remain competitive and make profits. This may not be as important for branded buyers as if the brand has a good name and reputation, consumers are most likely to buy it anyway due to it being branded therefore price is not the main focus, however it is still very important.

Another area which would be very important for a fast fashion buyer to look at is monitoring deliveries. It is very important that stock is delivered to store in time for release so that they do not miss the trend as fast fashion items have shorter product lifecycles and therefore a short retail selling period so the retailer needs to make its profits from the items while the trend lasts. Again, this would not be as prevalent of an issue for a branded buyer as the demand is likely to still remain high for the products.

Branded

Fast Fashion

S

 Well established brand  Strong marketing strategies  Use of social media ( directly targets majority of target market)  Wide range of brands brings custom from a variety of customers  Good customer service (free returns)  Extensive written product knowledge online  Also catwalk video of each product to help customers visualise products ( very helpful when ordering online)  Customer loyalty scheme (encourages repeat custom)  One of the UK’s largest fashion e-commerce retailer  Large range of brands (Calvin Klein, Nike, Adidas, Vivienne Westwood)  Affordable fashion

O

 E-commerce transactions are growing  Use of celebrity endorsement  Open a physical store to expand (similar to competitors)  More warehouses across the country & globally in order to provide faster service  Release kids ware / homeware range  Increase in demand for menswear  Further expansion into other countries with specific language site  Introduce new brands  Selling other online retailers clothing through their website  Student Discount

W

SWOT

INTERNAL

 No bricks & mortar stores  Customers cant try clothes on before buying (puts pressure on returns)  Bad customer service if website is down / logistics fail to meet schedule  Items sell out fast  Hard to bring in new customers if they do not use the internet or social media regularly  Only target a younger demographic  Free delivery loses out on capital which they would otherwise have  Garment quality isn’t always representative of price  Overdependence of the market in UK

EXTERNAL  

   

 

T

UK economy Competitors finding new ways to reach customers (misguided opening store) Competitors undercutting prices Bad publicity Larger competitors having multi-channel businesses Outsourcing deliveries can make ASOS unable to control customer service – this is important as it is the only face to face contact customers have when buying online Having a vast amount of brands may divert attention from their own label brand.

Competitors releasing men's tailored range

SWOT Evaluation Overall, conducting a SWOT analysis is very useful when reviewing my business strategies as it has allowed me to see the positive and negative aspects of ASOS. Furthermore, it has allowed me to see which internal and external factors effect the business and how my business plan will exploit the opportunities and hopefully challenge the weaknesses.

Moreover, my ‘suits you’ range will stay in line with, and possibly add to the strengths category as I plan to use strong marketing strategies using online platforms, which directly target their customer base, as well as using endorsement from blogger Camby to reach new customers which may not have ever considered shopping on ASOS, due to them not really being known for high fashion menswear. This also cross references with the treat of competitors releasing a means tailored range and also the opportunity for the increase in demand for menswear.

Other threats and weaknesses such as no physical shop to allow customers to try clothing on is balanced out with the free returns policy which will make customers more confident in buying a suit online.

Due to ASOS’ customer base being described as 20 something's, it is likely that the majority of their target market are going to be students. This is where the strength of their ‘affordable fashion’ can be supported by the opportunity of student discount in order to encourage people to buy from ASOS. Lastly, my long term business aim is to expand the range globally, therefore I believe that this would help to grow on the opportunity of expanding into new countries, which could help to tackle the weakness of the overdependence on the UK market for ASOS as I believe that my range will appeal to consumers around the world due to the inspiration from global street style showcased through my collection.

Evaluation What have I learnt about buying environments?

From conducting this task, I have learnt many things about the differing roles, responsibilities and environments embraced within the fashion industry . I have learnt that there isn’t just one form of buying environment and that the buyer has many things to consider when planning a new range or product. Firstly, I have learnt that buyers have to adapt to fit many situations, for example in one instance they will be looking at the retail market to see how retailers are performing and how they can improve upon this to stay competitive and make good profits for the company. Where as they can also be looking at larger areas such as the global market, looking at new opportunities for sourcing from new countries, perhaps to improve on price or quality. This could be done through visiting other countries to speak with suppliers, or simply over e-mail or skype. Either way, I have learnt that the buyer always has a diverse range of tasks and environments to cope with and that each task has a very significant role within the process.

What did you learn from producing an organisational chart?

At the beginning of the project, I completed two organisational charts, for different fashion retail environments, in head office and in store. This gave me a greater understanding of the roles within the industry and was very useful to see how the different roles all worked together in order to work towards the same objective (creating the best possible sales). This part of the project helped me to understand that even if the buyer and merchandiser do their best to create a good range, this will not solely determine the success of a business. It will further rely on other people down the line. For example, if the store manager is good at motivating their team of sales assistants, then they will provide good customer service and ensure the shop floor is presentable to encourage sales etc. This can also work in an adverse manner and have a negative effect on sales. I also learnt that the staff in store may have a more hands on approach to retail, where as the head office roles are more focused towards research and analysis.

What does branded buyer mean to me and what environment do they fit into?

Researching into the different kinds of buyers, I have learnt that branded buyers are responsible for buying in branded goods. The buyer would work within head office and also attend trade shows etc. every season (usually 6 month basis). Their role would differ to, for example a fast fashion buyer as they have to work to completely different paced schedules as I explained when analysing the buying cycle.

What skills have I developed throughout this unit?

Throughout this unit I have developed a series of skills such as conducting market research into consumers, trends and the brand ASOS and its competitors. I have also developed my analytic skills through conducting this research which has allowed me to come to conclusions and make decisions based on my research in order to create a successful range. I have further developed my Photoshop skills from the previous project which has allowed me to convey my ideas more realistically than before through my concept boards and range plan.

What did I learn about the difference between buyers and merchandisers? What skills did I develop from the merchandising activity?

I learnt that the buying role is more creative and hands on with the fashion side to business, whereas the merchandising role is much more data orientated in order to assist the buyer with decisions which include facts and figures. From completing the merchandising activity I got to use my numeracy skills and learnt how to format a spreadsheet using excel. I also learnt the importance and uses of creating a financial spreadsheet which I analysed directly after conducting the merchandising task.

What global strategy did I implement?

My long term business aim is to release the range on a global scale after seeing how the range sells in the UK initially, I believe that it should sell worldwide successfully due to the global street style influence I have incorporated through my designs.

Evaluation What business strategies did I implement to ensure my target customers needs were fulfilled?

My marketing strategy was one of my main business strategies which allowed customers to be interactive with the brand and fulfil their needs. For example, they would be made aware of the ‘Suits You’ range through multiple online platforms, the ASOS website, Instagram page, facebook page, via e-mail and also through their monthly magazine. This would ensure that customers are aware of the new range. Furthermore, the target market are encouraged to buy from the range due to factors such as free returns, catwalk video of the products so that they can see what they look like on and recommendations of what to wear with the item they are looking at on the website. Furthermore, student discount will be offered on the whole range, with an additional 10% off when buying more than 2 pieces from the collection in order to encourage sales while also benefitting the customer.

How I picked and put together garments in my product range and my opinion.

I selected the garments in my range through conducting in depth trend forecasting for the S/S season after deciding that ASOS had a gap on their website for a high fashion menswear collection. Once I had decided on what I thought were the strongest, main trends I then created concept boards around them so that I could visualise which key shapes, colours, prints and textures would work the best. Once I had decided on this, I created my range based on these factors, adding elements of global street style. Overall, I am very pleased with my range as I believe that it represents the ‘Psychotropical’ trend very well and will be a success on ASOS due to its young, fashionable vibe. Although I am very pleased with the result, I would’ve liked to include shoes and accessories for the range also, however this will now become a part of my longer term business aims to see firstly how well the range sells.

How did I develop my elevator pitch?

When developing my elevator pitch I wanted to ensure that I got all of my main points across in a simple manner to explain exactly what my business idea was. When I conducted my initial research into ASOS by visiting their website, I noticed a deficiency in the menswear of trendy fashion items, whereas in the women's section it is a mixture of basic every day items and also some very fashionable pieces. Therefore I decided to create a range which would stand out on the website and target the customer who has a more extravagant style, not just looking for jeans and a t-shirt. Then I saw an article which caught my eye about one of ASOS’ competitors releasing a men's tailored range, this encouraged me to make suits the main line of the collection. It was this, along with the unique style of customer I wanted to target in this small niche that gave me the idea for ‘Suits You’- Suits with personality. This relates to my target customer as the collection has personality and flair, to suit individual styles.

What retail environment does my range fit into and what other retail environments will I be competing against?

My collection is for ASOS which is a purely online retailer, however I will be competing against multichannel retailers, therefore they have a presence both online and on the highs treet.

Evaluation of my progression on the course so far and how I could improve.

Overall, I am very pleased with my progress whilst conducting this course as I have learnt a lot about the different roles within the fashion retail industry and how they all interlink in order to work towards the same overall objectives. I have challenged myself with the use of applications such as photoshop and excel in order to create a high standard of work. I have worked very hard on this task to ensure that there are strong links to my theme and that my business aims are met. My knowledge of the buying and merchandising roles has significantly improved during this unit and have been allowed to experience on a small scale what the role may be like.An area which I feel I need to develop on is conducting more in-depth research into some areas, for example I would’ve liked to conduct some more research into global trends and also fabrics in order to create much stronger links from my concepts to collection. To help to improve on this on the future I would like to schedule tasks and stick to them much closer than I have on this task.

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Fashion Buying & Merchandising Management- Tim Jackson & David Shaw