New Range Proposal
Autumn / Winter 2016/17
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Monsoon Buyer’s Brief This report has been conducted to propose a new collection of Loungewear to add to Monsoon’s developing lines. The range is aimed at the 20-35 year old market because Monsoon are currently catering, especially in this demographic through their marketing and Fusion line. The report and corresponding research will outline compelling reasoning for introducing this product. This includes key figures and reasoning why this market is ready for a loungewear product and how Monsoon could grasp this opportunity. It has been compiled as part of a degree level Final Major Project and is designed for the audience of the Monsoon Buying Teams. Designs and inspiration has been drawn from the Womenswear Colour Forecast Trend Book, for the season Autumn/Winter 2016/17 when the loungewear launch is suggested for.
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Contents 1. Brand Overview 1.1 Executive Summary 1.2 Company Profile 1.3 Brand Values 1.4 Current Product Range
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2. The Proposal 2.1 The Product 2.2 The Ansoff Model 3. The Market 3.1 Target Market 3.1.1 Demographics 3.1.2 Physcographics 3.2 Customer Profiles 3.3 Spending Power 3.4 Range Competitors
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4. The Product 4.1 Product Overview 4.2 Trend Influences 4.3 Print Archive 4.4 CAD Range Plan & Costings 4.5 Manufacturing and Sourcing 4.6 Sector Competitors 4.7 Pricing Architecture
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5. The Promotion 5.1 Branding and Packaging 5.2 In Store Displays
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6. The Place 6.1 Distribution Strategy 6.2 .1 Visual Merchandising 6.2.2 Online Displays
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7. Conclusion 7.1 SWOT Analysis 7.2 Evaluation
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1. Brand Overview
“Monsoon’s dedicated team are committed to the continuing development of all the Monsoon clothing, Home and Accessorize product ranges.”
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1.1 Executive Summary This report has been collated with the intention to develop a proposed launch of loungewear for the high street retailer Monsoon. Monsoon has historically attracted an older female consumer and its sister company, Accessorize, a much younger, teenage demographic. Recently the brand have been marketing themselves to attract The Millennials, the middle market of their two shops. Brand marketers have recently developed the retailers connection with that market. These 21 - 35 year olds are a key demographic in todays society. Market research from Mintel has unveiled that they have spending power which is set to increase over the next decade (Clothing Retailing - UK - October 2013). They discuss how Generation Y are more willing to spend than any other demographic explaining that, “this age group is most likely to have above £300 on new clothes in the last year.” The question then is what can Monsoon do next to add to their constantly growing ranges. What products can be introduced? And how can they be marketed? In response to this I am aiming to propose a new range of loungewear for the company to suit these modern women; new home-owners or recently married. In the companies own words, “Monsoon’s dedicated team are committed to the continuing development of all the Monsoon clothing, Home and Accessorize product ranges.” Therefore this new venture is highly relevant to the retailer. The values that Monsoon has embraced from the beginning are creativity, a passion for exploration and a commitment to both people and product. This approach will continue to play a vital part in its future growth and success and will be demonstrated through this document.
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1.2 Company Profile Monsoon is a committed fashion and accessories store fulfilling the growing demand for ethically manufactured products. Founded in 1973 by Brit, Peter Simon, the store began as a boutique that introduced gorgeous bohemian clothes made in Indian villages to London. The company have continued to trade ethically and in reflection of higher production costs the brand is currently situated at the more expensive end of the high-street. Today, Monsoon sells what it calls “deluxe boho chic” casual and dressy apparel. Signature looks throughout the stores embody Monsoon’s distinctive identity. They display beautiful combinations of fabric, colour and decorative techniques that demonstrate the strong influences of the Far East. The campaign on the right demonstrates how the stores offers varied collections. Womens and Childrenswear, home furnishings, and accessories are sold from 400 Monsoon and Accessorize shops in the UK and Ireland and more than 50 other countries in Africa, Asia, Europe, and the Middle East. Monsoon official corporate figures are as follows: Annual turnover: £540,393,000.00 Annual profit: £27,909,000.00 Monsoon’s founder took the company private in 2007 in a deal valued at £755 million.
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Monsoon/Accessorize 2013 Summer Campaign
atik A distinctive hand-print technique that uses wax to prevent dye from penetrating areas of cloth. It can be repeated over and over again to create complex and colourful patterns.
and Block Printing In this complex technique, a pattern is built up by using a succession of hand-carved wooden blocks to apply each individual colour.
mbroidery
The artisan ranges showcase a fascinating variety of intricate techniques and beautifully stitched embellishments.
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1.3 Brand Values After traveling the world Peter Simon brought hand-crafted and folk-inspired fashion to London through the first Monsoon boutique. Whilst maturing into a global brand the heritage and original values of Simon’s’ store have remained. Here shows example processes of manufacturing using hand-looms, organic dyes, block printing and stitched embellishments. Hand-crafted techniques are celebrated with intricate hand embroidery that gives garments their recognisible Monsoon traits. ‘Artisan’ has been one of Monsoons recent ventures. These garments are hand-crafted across Asia by skilled craftspeople. The Artisan pieces encourage and treasure more traditional processes and print making methods. Monsoon’s trust ensures that the expertise of workers are fairly paid for their gorgeous work.
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1.4 The Current Product Range This is the inspiration for Monsoon’s exclusive, in-house designed collection of unique, classic pieces, that range from sophisticated evening to casual day wear, and combine feminine styling with exotic colour, beautiful fabrics and detailed finishing. Monsoon stores offer a wide range of womens clothing; dresses, tops, knitwear, tunics and kaftans, beachwear, jerseys, trousers, skirts, coats and jackets, shoes and boots, and work wear. Womens attire is categorised, firstly the core collection - based in all stores. The beach shop is stocked seasonally and occasion wear in selected stores. Finally Monsoon offers a bridal collection including wedding gowns, bridesmaid dresses & mother of the bride garments. Alongside outfits for the little flower girls or page boy. From the practical to the perfect princess and dapper young gentleman, the children’s sector has various ranges that more then meets everyday or special occasion needs. Newborn & Babies, The girls and boys core ranges are aged 3 to 13. The latest children’s wear venture sells older children’s clothing, set within the age bracket of 8 - 14. For the perfect finish, all clothing ranges can be complimented with sister brand Accessorize items such as bags, shoes and jewelery. Perfect for gifting or for your home, Monsoon Home is an extension of Monsoon’s style to decorative accessories – from photo frames to perfume bottles and jewelery boxes ceramics, glassware, table ware, bed, bath and curtain lines. To compliment Home, our Boutique range offers fair trade and hand-crafted homewares and gifts, often using up-cycled Monsoon fabrics to create a unique and heritage inspired pieces. All profits from this collection are donated to the company charity, the Monsoon Accessorize Trust, to help women and children in Asia.
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2. The Proposal
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2.1 The Product A trend led loungewear range for the fashion, ethically and socially conscious woman seeking casual clothing and nightwear. The ranges’ Unique Selling Point is its target market. Nowhere on the high-street sells a product that falls solely in this bracket of loungewear. The collection will attract women who fit into the category of being recently married / living with partner or new homeowners. The products have been designed with this demographic in mind so the items reflect a casual yet pretty approach. Designed for the woman of an age who want to look lovely for their partners whilst being comfortably stylish in her home environment. She wants to get home from a busy day job and change into comfortable yet attractively feminine outfits for cooking dinner and relaxing into the evening. Unlike competitive retailers the range will be ethically produced to keep in line with Monsoons values. Prints will use batik and block printing methods and be manufactured in Asia. The collection will be released in Autumn 2016 ready for the beginning of the seasons phase change. It will be introduced to hand picked larger stores to test the sales prior to the Christmas period.
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Existing Products
New Products
Existing Markets
Market Penetration
Product Development
New Markets
2.2 The Ansoff model
Market Development
Diversification
The range sits between product development and diversification. - The collection will be a new product for the brand. - Monsoon are an existing retailer though they are in the midst of reaching this new market of Generation Y.
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3. The Market
“New lines are definitely bringing in the you shopping in store with their daughters wh
Model Anais Pouliot wearing UrbanOutfitter, stylenotesbybelen.com, Jabong nightwear for women, Victoria’s Secret sleepwear, weheartit.com/bras, spelldesigns.com, favim.com/pyjamas.
3.1 Target Market 3.1.1 Demographics The key demographic for the new collection is women aged 21 - 35. Generally women in a relationship or married. She is living with partner in own home or rented accommodation. Working full-time so has her own disposable income to spend on such a less essential item.
3.1.2 Psychographics She will spend money on family, home furnishings & holidays. Usually an impulse buyer to the extent that her salary will allow. She want something to wear casually around the home after busy working days. She values ethic origins of materials. She will be involved with social platforms and takes inspiration from these. She is contemporary, feminine and stylish.
the younger customer. The general demographic were always lots of mums but now they are ers which are in their 20s/30s.�
Charlotte Averby, Monsoon Supervisor, Farnham Store
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3.2 Customer Profiles
Samantha, 24 City Girl
Occupation: Junior level merchandiser Salary: ÂŁ23,000 Values: Price and quality over large label branding Activities: TV serial watcher, fashion enthusiast, enjoys casually spending time with her boyfriend and eating takeaway in her apartment. Shopping habits: Refers to social media pages for inspirations, runs her own fashion blog, shares regular posts regarding her recent purchases.
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Catherine, 28 Newlywed
Occupation: Nurse Salary: ÂŁ26,000 Values: Quality and style Activities: Used Pinterest to gather inspiration for her wedding and has carried this on as a hobby into homeware and fashion. Busy lifestyle means she used her mobile for internet surfing and social networking. Shopping habits: Refers to retailers websites for information on clothing though would usually buy from a store.
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Kimberly, 33 Recent Mother
Occupation: Freelance Accountant Salary: £30,000 Values: Comfort, quality of fabric, pricing. Activities: Children’s activity classes, new mother’s coffee mornings, family events. Shopping habits: Online shops as saves and effort time visiting shopping centres, gets home deliveries. Works from home so browses through emails regularly where marketing promotions are often found.
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Michelle, 37 Lady of Leisure
Occupation: Stay-at-home Mother Salary: Household income Values: Ethical practices and a great fit. Activities: School runs, takes yoga and pilates classes, reads magazines, meets friends for social occasions and coffee mornings. Shopping habits: Frequent shopper. Loves visiting stores for browsing and making purchases.
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3.3 Spending Power According to Mintel’s 2013 UK Clothing Retailing report, consumers aged 25-34 spent £300 or more on new clothes in the 12 months prior. This demographic is set to boost market value. Mintel predict that consumer spending on clothing is estimated to rise almost £10million between 2015 and 2018. (Mintel report - ‘Clothing in the UK, 2014, Market Sizes’) These women enjoy shopping and have high spending power. They buy new clothes once a month and like to keep up with the latest fashions. They also prefer to purchase fewer items but better quality clothes and are also most likely to shop at higher-priced fashion stores. In reflection of these studies, Monsoons Loungewear prices will be positioned alongside the rest of the retailer’s attire. Promising quality, beautifully made garments with parallel elevated high-street prices.
“I think people are investing in loungewear more than they used to. So the customers are prepared to pay more. They also want to know that what they are buying has been ethically sourced.”
Aine Stapleton, Monsoon Sales Assistant, Westfield Store
By 2017, Millennials – currently in their mid-teens to mid-30s – will have more spending power than any other generation.
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Yarrow and O’Donnell. Gen Buy (2009)
3.4 Range Competitors
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Seductive pieces modeled by the model, Rosie Huntington-Whitely have put Marks & Spencer’s at the forefront of contemporary fashion. M&S supply customers with cosy, on-trend items alongside more seductive alternatives, such as decadent kimonos and silk chemises. Their extensive range is the most competitive to Monsoon as it caters for night wear, lounge and lingerie.
Victoria’s Secret is home to sexy loungewear; playful rompers, satin chemises, comfortable pajamas, and celebrity endorsed lingerie. Luxurious fabrics mirror high price points. The brand have a huge presence within this market sector due to their global catwalk shows. They hold the upper-hand as they are predominantly a lingerie retailer. However the target market is probably younger than that of Monsoon’s.
Next pride themselves in delivering stylish ladies ranges at affordable prices. Their aesthetic is more fun yet trendy and although have the same aged market, Next’s prices are much lower than Monsoons. They follow clear highstreet trends and designs will demonstrate nautical; themes or prints of birds and florals. Fashion favourites from their lounge ranges include; slogan tees, pyjama shorts, oversized nightshirts and print designs.
The White Company’s target market is very similar to Monsoon with new homeowners and mothers. They cater for more expensive deluxe pieces that cover the lounge and nightwear brackets. Garments include; super soft joggers and t-shirts in the finest-quality cotton, or luxurious lightweight nightdresses and pajama sets for relaxing.
Images clockwise from top left; Rosie Huntington Whiteley for M&S Autograph Collection AW13, Victoria’s Secret UK 2014 range, The White Company Spring Collection 2011, Next 2015 - phase one nightwear collection.
4. The Product
4.1 Product Overview
A new Loungewear focused collection for Autumn Winter 16/17 that sits well amongst current Monsoon product ranges. The look is sophisticated yet casual. Feminine and flattering. Boho inspired prints, quality fabrics and decorative embellishments allow the customer to feel in touch with Monsoons heritage and values. Styles will be casual and versatile offering mix and match combinations of garments that concentrate on key colour trends.
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Margaret Playsuit £32. Sizes available 6 - 20 100% Polyester. Silk feel. Product Code. PS01P
“Loungewear is really popular now and it’s something that would work well the brand’s bohemian style”
Aine Stapleton, Monsoon Sales Assistant, Westfield
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4.2 Trend Influences Colours of the range were driven from the Trend Insider AW16/17 Colour Forecast. The line has predominantly been created with a focus on the ‘Botanical Woman’ trend. This story was the most influential from the book as it portrays femininity which is key for the new Monsoon line. The colours are autumnal, ladylike and wearable. Nothing too garish or bright. The simplicity of the ‘Icelandic Blues’ trend has also filtered through into a couple of phases of the loungewear. The subtle shades of the colour palette meant it was an effortless style for the Monsoon woman to wear comfortably and attractively around her home.
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4.3 Print Designs This small print archive visually explains how trend influences have been considered when outsourcing or creating prints. The themes follow the same colour schemes as explained prior. Botanical colours have influenced the Fleur and Tallulah print. Along with Cleo and Anishka, although these two portray a more artisan appearance with swirly and mosaic repetitive patterns. The blue shades of Petra and Sapphire reflect Icelandic hues as discussed. Again in compliance with other artisan inspired references. Diamond shapes and paisley patterns apply bold femininity to the prints. Perfect for the new products.
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4.4 CAD Range Plan The collection is made up of a selection of comfortable yet fashion-focused items suitable for women to wear round the home. To ensure the brands aesthetic is personified, the new range features bohemian prints and embellishments in correlation with existing monsoon products. The following pages document the collections designs, blank and by product category. Please see Range Plan Document for full colour collection in order of phase.
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Full Range Plan and Costings 45
Celeste Maxi Dress RRP £55 Cost Price £13 Margin 76.36% Sizes available 6 - 20 100% Polyester. Silk feel Product Code. DR01P
Debbie Cami Dress RRP £28 Cost Price £7 Margin 75% Sizes available 6 - 20 100% Cotton. Frill Trim Product Code. DR04C
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Susannah Dip-Hem Dress RRP £58 Cost Price £14 Margin 75.86% Sizes available 6 - 20 100% Cotton Product Code. DR03C 47
Lacey Cami Dress RRP £32 Cost Price £8 Margin 75% Sizes available 6 - 20 100% Cotton. Lace Trim Product Code. DR05C
Lacey Cami Set RRP £35 Cost Price £9 Margin 74.29% Sizes available 6 - 20 100% Cotton. Lace Trim Product Code. SE01C
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Sabrina Set RRP £39 Cost Price £12 Margin 69.23% Sizes available 6 - 20 100% Viscose. Embroided Product Code. SE02V
Matilda Set RRP £35 Cost Price £9 Margin 74.29% Sizes available 6 - 20 100% Polyester. Silk feel. Lace panel Product Code. SE03P
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Lily Top RRP £18 Cost Price £4 Margin 77.78% Sizes available 6 - 20 50% Cotton 50% Polyester Product Code. TO01CP
Tori Top RRP £28 Cost Price £8 Margin 71.43% Sizes available 6 - 20 100% Linen. Lace panel Product Code. TO02L
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China Top RRP £16 Cost Price £4 Margin 75% Sizes available 6 - 20 100% Cotton. Product Code. TO03C
Veronica Top RRP £12 Cost Price £3 Margin 75% Sizes available 6 - 20 50% Cotton 50% Polyester Product Code. TO04CP
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Jasmine Playsuit RRP £28 Cost Price £7 Margin 75% Sizes available 6 - 20 100% Jersey Product Code. PS02J
Margaret Playsuit RRP £32 Cost Price £10 Margin 66.75% Sizes available 6 - 20 100% Polyester. Silk feel Product Code. PS01P 52
Tamara Short RRP £15 Cost Price £5 Margin 66.67% Sizes available 6 - 20 100% Jersey Product Code. SH01J
Elina Short RRP £22 Cost Price £6 Margin 72.73% Sizes available 6 - 20 50% Cotton 50% Polyester Product Code. SH02CP 53
Caroline Bottoms RRP £28 Cost Price £7 Margin 75% Sizes available 6 - 20 100% Cotton Product Code. TR01C
Jeanie Bottoms RRP £32 Cost Price £7.50 Margin 76.56% Sizes available 6 - 20 100% Viscose Product Code. TR02V
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Katrina Bottoms RRP £35 Cost Price £9 Margin 74.29% Sizes available 6 - 20 100% Polyester. Silk feel Product Code. TR03P
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Mischa Long Shirt RRP £32 Cost Price £5.50 Margin 82.81% Sizes available 6 - 20 100% Linen Product Code. DR06L
Sally Jumpsuit RRP £38 Cost Price £9 Margin 76.32% Sizes available 6 - 20 100% Cotton Product Code. JS01C
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Laurel Triangle Bra RRP £20 Cost Price £6 Margin 70% Product Code. UN01C Laurel Brief RRP £14 Cost Price £3 Margin 78.57% Product Code. UN02C Sizes available XS - XL 100% Cotton
Aimee Bra RRP £16 Cost Price £3 Margin 81.25% Product Code. UN03C Aimee Brief RRP £9 Cost Price £1.50 Margin 83.33% Product Code. UN04C Sizes available XS - XL 100% Cotton 57
Felicity Batwing Cardigan RRP £45 Cost Price £14 Margin 68.89% Sizes available 6 - 20 100% Alpaca Wool Product Code. OU01A
Naive Long Kimono RRP £45 Cost Price £13 Margin 71.11% Sizes available 6 - 20 100% Cotton Product Code. OU02C
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Mariah Gown RRP £35 Cost Price £10.50 Margin 70% Sizes available 6 - 20 100% Polyester. Silk feel Product Code. OU03P
Naomi Dress RRP £39 Cost Price £11 Margin 70.27% Sizes available 6 - 20 100% Cotton Product Code. OU04C
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Lingerie & Nightwear Lingerie & Nightwear
Lingerie & Nightwear
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Jennifer Briefs 3-Pack RRP £18 Cost Price £4.50 Margin 75% Sizes available XS -XL 100% Cotton Product Code. UN05C 61
Images courtesy of the lingerie Etsy seller, Luva Huva. Purpose solely for envisioning the look and feel of the new product range.
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4.6 Manufacturing & Sourcing Company values have meant that the majority of the production process has generally occurred in The Far East. However Monsoon’s determination to widen their product basis has led to expanding manufacturers into Eastern Europe. The loungewear collections components will be sourced and created across various of the locations in the map opposite. From India, China and South East Asia to closer African neighbors in Egypt and Morocco. Using such partners will ensure reliability as they have been valued by Monsoon since the retailer first began. Monsoons trust and history with such organisations guarantees quality. The brand have European factories that are now working in countries such as: Bulgaria and Turkey. If the stock sales are high this would mean that lead times for replenishing could be shortened. Additionally, import fees and time would be less.
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4.7 Sector Competitors This matrix of brands has been created with the purpose of viewing the loungewear market on a whole. It demonstrates where Monsoon’s new collection will sit in relation to competitive brands who also have similar product. The competitors range from inexpensive to lavish products along the Y axis. Measured against the fashion-ability of the designs across the X axis. The circle demonstrated Monsoon Loungewear’s closest competitors regarding price and quality. Each of the close-by brands have factors relatable to Monsoon Loungewear, however as explained here they aren’t all strong competitors for Monsoon’s 21-35 target market. Victoria’s Secret launching in the UK brought a lot of popularity among young consumers thanks to their online presence and well reported lingerie catwalk shows. The American born store now sells pajamas, loungewear and perfumes in all stores. Boux Avenue is also predominantly a trendy underwear retailer however their ranges reach into support wear, nightwear and accessories. Boux Avenue’s collections are the most similar in aesthetic to Monsoon’s. Donning silk chemises & satin pajamas selling at extremely similar prices. Although the slinky designs are less conservative. Dickens & Jones is exclusively stocked by House of Fraser and also of a similar price range to Monsoon. They sell lounge outfits, oversized nightshirts and love wearable, simplistic colours. Aimed at an older woman the items offer sophisticated, vintageinspired pieces without slave to the trends.
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High Price
Classic Fashion
Low Price
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£15 - £39
Tops
Monsoon Womenswear
Cardigans
£35 - £39
£35 - £59
Kimonos
£25 - £45
Trousers
£14 - £39
Shorts
Playsuits
£29 - £35
£ 39 - £69
Dresses
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Average Prices in £s
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4.8 Pricing Architecture The Retail Price of each garment has been carefully considered in line with other products from the brand. This matrix demonstrates Monsoon Womenswear prices by garment category. By evaluating this research I have been able to assess which products have the highest price points. Dresses and Kimonos which are included in the loungewear collection will be given a higher RRP due to the more voluminous amount of quality fabrics being used. Trousers, Cardigans/Cover Ups and Playsuits will follow in the pricing architecture. Leaving Camisole Tops ans Shorts with a lower cost price for the customers purses.
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5. The Promotion
5.1 Branding & Packaging
Monsoons regular hangers are beech wood and engraved with the normal typeface. In order to stand out, the new ranges hangers will be white wooden. This reflects the calm, femininity of the pieces. A girly bow will be hand-tied to each hanger to give the products appearance a personal and girly finish. Similarly the carrier bags are crisp white in order to keep consistency. The specified Loungewear logo has been created for the hangers, packaging and all marketing material in order to optimize visibility to the range. Purchases will be gift wrapped in the regular Monsoon tissue paper prior to packaging. This will keep the brands customers feeling their caring nature.
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ÂŁ40 New Collection
100% Silk Bottoms
5.2 In Store Displays Decorative and informative displays have here been mocked-up to envision what the shopping environment will include. Tables and point of sale surfaces will have a document describing a background to the range, with official imagery and prices. Secondly information cards to hang from garment hangers and rails are shown above. They will each clearly state details such as price, fabrics and special details on hand-printed materials. This will subtly give emphasis to the customers of the quality and service which Monsoon provides.
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6. The Place
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6.1 Distribution Strategy The retailer operates both retail and online international strategies. So as well as being globally sourced, Monsoon’s products are globally stocked via their online website. The 30 piece loungewear collection will be stocked online and therefore be available for the wider audience. This will also ensure that the social media buzz generated by the PR teams will have a destination to view the collection. The collection will only be fully stocked in the larger Monsoon outlets. This will give an exclusivity to the range whilst its sales are measured. If product awareness and demand develops then a distribution strategy for regular stores would be put into action. Stocking this way would ensure profits can be easily monitored and no initial costs would be lost on manufacturing too higher quantities.
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6.2.1 Visual Merchandising In order to promote the new collection visual merchandising aid will be sent to the chosen stores. Therefore those stocking the range will be able to maximise the lines attention. Hanging fabric/canvas backdrops will be presented the relevant stores. The chosen rope and material imagery has been chosen to reflect Monsoons artistic feel. Because they often use alternate materials to basic card. It gives their visual merchandising an exclusive and finished look. Entrance displays will be compiled of rustic wooden tables to lay out smaller garments such as briefs and shorts. These props will also cater for folded cardigans giving the doorway an attractive, homely and welcoming feel. The tables will have information stands offering a little knowledge of the new collection to those interested shoppers. Corresponding wooden and fabric mannequins will collectively demonstrate the garments and key looks. These will be surrounding the entrance table to finish off the whole visual.
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New Collection
Playsuit £30 Kimono £45 CamiSet £32
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Shop these Shop pieces these pieces
Feminise your comfortable casual wardrobe with the new easy-to-wear range from Monsoon. Designed for the woman to look effortlessly stylish whilst in her own home
our new Lounge caollection, Update your casual wear with online and in larger stoers. Shop now > http.bit.ly.h7dos08
available
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Introducing a New Loungewear Collection Click to shop
6.2.2 Online Displays Giving the collection a strong online presence will be pivotal to generating great sales. Generation Y consumers are very in touch with this side of the industry where social media can have a massive influence on their purchase decisions. Sharing posts, seeing constant updates from brands, & discussing friends purchases are regular activities. Taking this into consideration the loungewear is here presented across a well rounded amount of platforms that the brand currently use. Instagram, Twitter and Facebook will all give exposure to the product by posting regular updates, offer codes and behind the scenes info of the range. Computers and tablets will be able to browse the online magazine - Swoon. It’s interactive pages will be adapted to involve the collection leaving shoppers with the perfect, engaging, platform to add items to their baskets. Mobile shopping screens display smaller versions of websites. This will be configured to show predominantly the loungewear. Upon launching the product the Monsoon’s homepage provide emphasis and advertisement of the new line, as seen here on the tablet.
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7. Conclusion
7.1 SWOT Analysis
St re
ng th s
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-Monsoon is a well established existing brand so can afford to produce a new line.
- Distribution already established for a worldwide audience. - Their trusted factories are already in use. - Corporate website outlines how the teams are dedicated to expanding the product departments. - Little competition of product sector. - Research has proved the range is targeting a market willing to spend. - High margins achieved. - Supported by relating designs to Trend Forecasting reports. - Quality product, reflective of price range.
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- Competition from major retailers such as Marks & Spencer’s and Next.
- Lead times being long if the range sells well and needs more purchase orders.
- Not a common market segment. - Limited In-Store presence initially. - Large amount of individual items in the range to begin with. - Only particularly suitable for 20-35 demographic. - High costs of manufacturing - Small amount of underwear compared to loungewear - Not an essential wardrobe item
ing
nd.
- Cater more for the younger Monsoon customer. - Also able to sell a new product to existing and loyal customers. - Plan to introduce best selling items to stores across the country. - Scope for new phases for the Christmas season and Spring/Summer.
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- Gain media attention
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7.2 Evaluation ‘Monsoon is actively developing new collections’ to introduce to the multi-chain retailer. In response to this official statement, this document has provided a comprehensive account into why Monsoon should create the range of Loungewear. The collection would sit comfortably amongst countless other retailing ventures, and the creditable product would meet a gap in the market for 20-35 year olds. The proposal highlights statistical reasoning behind this demographic and the spending power they have. Loungewear is something apparent for the customer, as described through the target market. Each customer profile is relevant to the range due to their casual lifestyles. The collection itself has succeeded in providing stylish designs of comfortable fabrics and is well aligned with other Monsoon garments. The line is suitable for it’s purposes of giving women casual clothing to wear around their home environment whilst still looking attractively feminine. The branded packaging really reflects the image of the collection. It is suited for the product and gives an elegance to the consumer’s shopping bags. The quality of branding and promotional pieces are reflective of the garments prices. These elegant finishing touches to the product range exhibit how customers are paying for a quality service. Taking everything in to consideration, the Loungewear collection is a feasible product for the retailer to produce, it has great margins, is brand relevant, customer based and has additional opportunity to further develop in the future.
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Autumn / Winter 2016/17 New Range Proposal