Market Research : Lost and Found (Sensation)

WACHIRATHIDA KONGCHAN MARKET RESEARCH CAPSULE COLLECTION (E19CA/CB) YEAR 3 BA FASHION HERIOT–WATT UNIVERSITY

MARKET RESEARCH

Market research is a vital process that provides important information whether economical, market trends, target groups, cost, and also competitors. A successful brand requires an enormous amount of research, investigation and planning in order to have a clear understanding of customers’ needs as well as understanding your position in a highly competitive market. It also helps to make decisions and analyze the target market better.

Fig.1 Analysis Market Factors

DESIGNER PROFILE Wachirathida Kongchan, or known as Joy, a new generation designer from Thailand.

Regarding her educational background, she graduated from the faculty of Education majoring General Science, Counseling Psychology and Guidance, Chulalongkorn University, in Thailand.

After graduation, she decided to follow her heart, moving to London, and started to study in fashion at West London College (Heriot-Watt University), which has provided her with a foundation of creativity. Almost 4 years of working in fashion, the experience she has gained through her life makes her work unique. A combination of everything, and her Asian culture influence her to set up own identity name “Muse”.

LOGO - THE SILHOUETTE OF WOMAN In fashion, “Muse” is ideal as inspiration for customers - usually a woman who embodies the designer's style or approach to fashion. It is inspiration for the logo, a silhouette of a woman that was not specific who she is, and how she looks. Muse wants to convey this message to women that everyone is beautiful in their own way.

Furthermore, Muse is one of the nine ancient Greek and Roman goddesses who were believed to load particular arts and sciences, it is related to the concept design of the Muse: a combination of everything.

MUSE Every collection I design, every garment I made Each one has its own story My work is creating an art piece Art does not have a trend, and I do not follow a trend, I am a creator, and I create my own trend People who see my work, no one will refuse wearing it.

This is Muse; Timeless, Ageless, and Beautiful.

Fig.2 “Muse� Logo

THE COLLECTION Lost and Found is the first project, which has been inspired by the song “Kono Yoru Wo Tometeyo”, a single from Japanese artists “JUJU”. It is a collection for Autumn/Winter 2016, all in black colour. The collection focused on the concept of insight beauty, so the design will show feminine character. The conceptual inspiration makes Muse collection transcend time, but still maintain the beauty and classic in itself.

Fig.3 “Muse” Collection

DESIGN AND FABRICS Muse emphasis is on simple shapes, combining good quality fabrics and exquisite tailoring. The designs are contemporary and fashionable The fabrics that Muse has chosen for this collection, there are 3 main different fabrics: Viscose Jersey, PVC leather, and Czar Organza. They have different surfaces, and give a different feeling. To ensure that customers get the best, we choose the fabrics that have an easy maintenance, hardly require ironing, but still retains the beauty, in order to be convenient and not too complicated in daily life, which is inspired by an urban lifestyle.

Moreover, environmental issue, it cannot to be overlooked. Although some fabrics that we use for making the collection are synthetic, but we concern every process; designing, cutting, and sewing. It is a goal that Muse wants to emulate sustainable natural cycle, and be zero waste.

Fig.4 Fabric Samples for Muse Collection

MARKET ANALYSIS

Fig.5 Market Analysis Chart (Retail sales value)

This graph shows the information of retail sales value in textile, clothing and footwear stores in Great Britain monthly from January 2013 to January 2015, which reported by the Office for National Statistics (ONS). In comparison, the value of retail sales in textile, clothing and footwear averages between 2.6 to 4.2 billion British pounds worth of sales. The value increased dramatically in every December. The statistics indicate that people in Great Britain are spending money a lot during the season of celebration, which is mainly in December.

Furthermore, there are a statistics from the Centre for Retail Research. The data of online retail sales show that the e-commerce is increasing in consumer spending across Europe. It is predicted that in 2015, the average UK consumers will spend ÂŁ1,174 online,

which slightly increased 9.6% per person in 2014. The trend also reflected in Christmas trading results. Online clothing sales rose by 52.4% and 22.2% of general merchandise.

- At House of Fraser online sales rose by 31.2% over the six weeks to January 3.

- Debenhams saw a 28.9% increase in Christmas sales.

- Despite a fall in sales at its department stores over Christmas, John Lewis reported a 5.8% growth in revenue in the five weeks to December 27 thanks to a 19% increase in online sales.

Fig.6 Online Retail Sales spending across Europe (2014-2015)

Fig.7 Online Retail Sales spending across Europe (2013-2016)

TARGET MARKET Muse has chosen big cities such as London, Paris, New York, Tokyo, Shanghai, and Milan to be the main location for launching the brand. The collection fits into a contemporary and designer market, which aim to be middle to up-market price. The customer segment is targeting adult, which have the age ranges of 28 - 48 years. The consumers fall in between Generation X and Y. Generation X (1965 - 1976), age range: 50 - 39 years old. Generation Y (1977 - 1998), age range: 38 - 17 years old.

Fig.8 Target Market

TYPOLOGIES

Fig.9 Typologies – Generation X and Y

Generation X  Independent, resilient, adaptable  Entrepreneurial  Disaffection generation  Self-sufficient  Successful  Urban Professionals  Business minded  Yupsters

Generation Y  Technological  Marketing savvy  Globally connected  Generation Pressure from parents  Over achieve  Succeed  Echo boomers  Over taxed, debt ridden

Fig.10 Demographics Table

DEMOGRAPHICS The demographics shows that Muse’s customer are mainly women between 28 – 48 years old. The income level is higher than £30,000 per year, living in an urban area. Ethnicity, education, employment and marital status are not specific.

The main goal of the brand is to reach every customer, without limiting their background. Muse are committed to making the product suitable for diverse women.

Fig.11 Psychographics Table

PSYCHOGRAPHICS The personality of Muse’s woman is active, smart, and thoughtful. She is satisfied with her reasoning, values, discipline, knowledge and responsibility. She chooses the products and services that are durable, useful and valuable. Her attitude is very strong; ambitious, high self-esteem, and also she is positive. She knows what she wants and she will do her best and put her effort in it. Although, her character is hard working, she is interest in art, fashion, music, reading different kinds of books, and also photography. She loves to spend her quality time on anything she likes.

Fig.12 Customer Profile

IDEAL CUSTOMER

Name: Age: Live:

Beth Kirby 32 Brighton

Occupation:

Stylist, Fashion Blogger, Writer

Income:

£45,000 – 60,000 per year

Style: Minimalist, Stylish, Unique, Confident Designs / Brands: Alexander McQueen, Delpozo, Maison Martin Margiela, Comme des Garcons, Yohji Yamamoto Lifestyle: Interests:

Love going out especially Dover street market, Brick lane, Art exhibition Fashion, Travel, Pop music

Beth Kirby, a famous fashion blogger from Net – A - Porter, one the most popular fashion websites in the social online right now. She graduated from Central St Martins, and started her first career in fashion as a stylist, and changed to be a fashion blogger 3 years later. Beth’s background; she comes from Brighton, she was born in an artist family, her father is a musician, and her mother is a painter. It is the reason why Beth loves going out to art exhibitions. She also likes to go to Dover Street Market to see a collection of Comme des Garcons. Her favorite designers are Yohji Yamamoto and Martin Margiela. Although, her style is minimalist, stylish, and unique, she aspires to wear Alexander McQueen, and Delpozo.

Beth loves art, fashion, and music. She thinks they are part of her life, and helps her release the pressure from work.

Doing research whether the information of typologies (Generation), demographics, psychographics, and also customer profile, it is very important. The information, which gives

details of consumers, determine the direction of the brand and also the process of production.

The data will help us to understand customer needs better.

A survey of other competitors is vital. It helps us to analyze, and pricing the products effectively. The research also shows the market position that make us see it clear where we are now.

Fig.13 Competitors

COMPETITORS Maison Martin Margiela and Delpozo are the main competitors of my collection. They have similar concepts to my collection. My customers aspire to wear their collection, but the price is very high. So, I want to set my collection’s price to be reasonable and affordable.

Fig.14 Competitors’ Price Range

PRICE RANGE From the table of competitors’ price range, it shows that Delpozo collection is higher price than Maison Martin Margiela because Delpozo is the design for couture market, but Maison Martin Margiela is designer market. The similarity between these two designers is they both are executive professional, so the price range still higher.

INVOICE From the table (below) I started pricing my own collection.

DESIGNER

Wachirathida Kongchan

PROJECT

Sensation

SEASON

Autumn/Winter 2015-2016

OUTFIT

Outfit 1 includes 3 Garments : Jacket, Top, Skirt

DATE

20/04/2015

(Lost and Found)

Fabrics 1. Viscose Jersey (Black) £9.95 2. Czar Organza (Black) £12.95 3. Faux Leather (Black) £5 4. PVC Leather (Black) £5 5. Bondaweb £3.50 Accessories 1. Zip (Top) £1.85 2. Zip (Skirt) £1.95 3. Binding

INVOICE TOP METER Viscose Jersey (1) 1 Zip

PRICE 9.95 1.85

TOTAL

11.80

JACKET Viscose Jersey (1) Czar organza (2) Bondaweb (5)

METER 1.5 1 0.5

TOTAL

PRICE 15.00 12.95 1.75

29.70

SKIRT Viscose Jersey (1) Czar organza (2) Bondaweb (5) Zip

METER 1.5 1 1.5

TOTAL

PRICE 15.00 12.95 5.25 1.95 35.15

£76.65

TOTAL :

11.80 + 29.70 + 35.15

Wholesale Price :

40 + 90 + 90

£220

Retail Price :

70 + 120 + 120

£310

DESIGNER

Wachirathida Kongchan

DATE

PROJECT

Sensation

SEASON

Autumn/Winter 2015-2016

OUTFIT

Outfit 2 & 3 includes 3 Garments : Top, Skirt, Dress

20/04/2015

(Lost and Found)

Fabrics 1. Viscose Jersey (Black) £9.95 2. Czar Organza (Black) £12.95 3. Faux Leather (Black) £5 4. PVC Leather (Black) £5 5. Bondaweb £3.50 Accessories 1. Zip (Top) £1.85 2. Zip (Skirt) £1.95 3. Binding

INVOICE TOP METER Viscose Jersey (1) 1 Czar organza (2) 1.5 Zip

PRICE 9.95 19.50 1.85

TOTAL

31.30

SKIRT Viscose Jersey (1) Czar organza (2) Faux Leather (3) PVC Leather (4) Bondaweb (5) Zip TOTAL

METER 1 1 1 1.5 1

PRICE 9.95 12.95 5.00 7.50 3.50 1.95 40.85

DRESS Viscose Jersey (1) Czar organza (2) Faux Leather (3) Bondaweb (5) Zip TOTAL

METER 2.5 2 2 2

PRICE 25.00 25.90 10.00 7.00 3.80 71.70

£143.85

TOTAL :

31.30 + 40.85 + 71.70

Wholesale Price :

90 + 90 + 110

£290

Retail Price :

120 + 120 + 150

£390

MACRO MARKETING (PESTEL)

Fig.15 Macro Marketing Factors

In considering the macro impacts on a business, internal and external factors must be considered. We use a variety of tools to consider these impacts, including the SWOT, and the PESTEL, which provide potential information for market planning.

- Political: UK households will see an income rise - Economical: Consumer spending is increasing - Socio Cultural: Social media websites become increasingly popular.

- Technological: Consumers want to communicate with brands through social media and mobile phone applications - Environmental: New sourcing trends, cotton prices - Legal: Rise in wage, copyright infringement

SWOT ANALYSIS

Fig.16 SWOT Analysis

S t r e n g t h s ...

Combining every skills to create something unique

W e a k n e s s e s ...

No experience in business, no skill of marketing

O p p o r t u n i t i e s ...

Live in London, Surrounded by creative people

T h r e a t s ...

Financial, Economics

MARKET PLAN In order to be clear understanding of the strategies, tactics and programs, which Muse provide for the customers, we set a market plan showing long term activities from April to August, and the collection will be launched in September.

A pril

- Researching all information; marketing, designing, pricing - Collaborate with professional photographers, make-up artist, models, location for the fashion shoot

M ay

- Design Logo, Brand name, Identity, Package - Set up the official website for MUSE, online portfolio - Promote the collection via online: Facebook, IG, twitter

J une

- Find the team, collaborate with people who have skill or knowledge in some particular field, which relate to work.

- Create a look book, make samples of packaging

J uly

- Find investors / sponsors to support financially - Contact entrepreneurs, agencies to present the collection

A ugust

- Plan and prepare for the show in September

RETAIL SPACE

Fig.17 Retail Space

Retail space will keep the concept of minimalist, clear, and simple.

MEASURE (SUCCESS METRICS) - Feedback, comment (Quantitative and Qualitative) - Profit - Repeat Customer (Loyalty)

BIBLIOGRAPHY Internet http://content.arma.org/IMM/IMMJanuary-February2010/IMM0110leveraginggenerationalworkstyles.aspx http://www.statista.com/statistics/288014/retail-sales-value-monthly-for-clothing-footwear-textile-stores-greatbritain/ http://www.ethosdebate.com/2015/03/how-to-improve-swot-your-ballots/ https://econsultancy.com/blog/66007-uk-online-retail-sales-to-reach-52-25bn-in-2015-report/

Pictures Figure 01: Analysis Market Factors, Authors own (CAD) May 2015 Figure 02: Muse Logo, Authors own March 2015 Figure 03: Muse Collection, Authors own (CAD) May 2015 Figure 04: Fabric Samples, Authors own Marchl 2015 Figure 05: Market Analysis Chart (Retail sales value) http://www.statista.com/statistics/288014/retail-salesvalue-monthly-for-clothing-footwear-textile-stores-great-britain/ (Accessed May 2015) Figure 06: Online Retail Sales spending across Europe (2014-2015) https://econsultancy.com/blog/66007-ukonline-retail-sales-to-reach-52-25bn-in-2015-report/ (Accessed May 2015) Figure 07: Online Retail Sales spending across Europe (2013-2016) https://econsultancy.com/blog/66007-ukonline-retail-sales-to-reach-52-25bn-in-2015-report/ (Accessed May 2015)

Figure 08: Market Target, Authors own (PowerPoint) February 2015 Figure 09: Typologies – Generation X and Y http://content.arma.org/IMM/IMMJanuaryFebruary2010/IMM0110leveraginggenerationalworkstyles.aspx (Accessed May 2015) Figure 10: Demographics, Authors own (PowerPoint) February 2015 Figure 11: Psychographics, Authors own (PowerPoint) February 2015 Figure 12: Customer Profile, Authors own (PowerPoint) February 2015 Figure 13: Competitors, Authors own (PowerPoint) February 2015 Figure 14: Competitors’ Price Range, Authors own (PowerPoint) April 2015 Figure 15: Macro Marketing Factors, Authors own (CAD) May 2015 Figure 16: SWOT Analysis http://www.ethosdebate.com/2015/03/how-to-improve-swot-your-ballots/ (Accessed May 2015) Figure 17: Retail Space, Authors own (PowerPoint) February 2015