Topshop Brand Strategy Report
Why I chose this brand - They are a popular high street brand and are worn by many people of all different ages and genders - There is a shop on almost every high street across the country - I fit into the their target market which is mainly women aged 15-30 - Number of different reasons for their poor performance and therefore more opportunities for new strategies to improve the brand - Lots of different issues that I could look into e.g. feminism, sustainability
Brand History - Started off as a successful brand - The profits grew quickly in the first two years of them opening - They still have their large flag shop stored across the country - The website (created in 2000) and their social media presence has helped to drive and increase sales
Current Brand Market Position - Declining sales - Poor performing brand - Decline in people wanting fast fashion as they are more aware of the effects it can have on the environment - Bad publicity within the media - Sir Philip Green
Research Methods Primary Research - Online Survey - Interview / Questionnaire with shoppers - Social media monitoring (Instagram posts, likes and followers)
Secondary Research - Internet - Books - Newspaper Articles - Magazine Articles - Mintel Academic
Research Findings - Not a very varied demographic - Primary research suggested lots of people wanted more sustainable clothing - There was not a lot of ethical and sustainable clothing within Topshop - Social media is used effectively, but does not target everyone - The divide between the age demographics was made clear through the primary research on social media
Recommended Strategy - Sustainable sub brand
- Sub brand would be available all year round, not just something limited edition like the previous Reclaim to Wear collection - Classic and timeless pieces that don’t go out of fashion and would therefore be appropriate to have in the store long term - Sub brand made from sustainable, recycled and organic materials to support an end to high street fast fashion - Would be different than other sub brands of the store - materials, style, price etc.
Interesting Elements from Research - The lack of sustainable fashion already in the store - there has been a huge increase and push on the environment but Topshop have not followed this trend like other retailers have - Topshop is considered to be a failing and poor performing brand despite still receiving high numbers of customers each year - primary research suggests many people are still shopping there and do not have any intention of stopping to shop there - The large proportion of people who wanted more sustainable fashion, but they still continue to buy into the idea of fast fashion