STRATEGIC CASE STUDY
PROJECT OVERVIEW
COMPANY ANALYSIS
Project Focus Goals & Objectives Project Timeline
Brand Brief Brand i.D Company Overview Stakeholder Analysis Insider Dive Company Sustainability Ethical Considerations
CONSUMER ANALYSIS
INDUSTRY ANALYSIS
COMPANY SUGGESTIONS
Target Consumer Consumer Behavior
Target Market & Distribution Industry & Annual Sales Competitor Analysis Competitive Advantage S.W.O.T Analysis
4 Growth Initiatives Product Proposal Deliverables References
Outline
Strategic Case Study | 2020
PROJECT OVERVIEW URBAN OUTFITTERS
Project Focus Goals & Objectives Project Timeline
Project Focus
The focus of this project is to evaluate Urban Outfitters’ business practices and determine the brand’s current environmental and social impact. After gathering research on the brand background and current practices, new initiatives will be suggested that allow the brand to incorporate profitable sustainable practices into their existing business model. These recommendations will be constructed through quantitative, qualitative and comparative data research. By utilizing data services like Statista, Euromonitor, and McKinsey & Company, we can look at the brands numerical index to gauge their level of circularity, ethics and profitability within the retail industry. Industry news sites like Business of Fashion and WGSN provide insight into future market events, along with trend reports that help support the final strategic recommendations
Goals & Objectives Retail is suffering right now due to Covid-19. I plan to research new ways UO can sell to the Gen-Z & Millenial consumer in order to keep their target market engaged during these tough economical times. My goal in conducting this audit is to find unique and new selling points that Urban Outfitters (UO) can take advantage of in the retail marketplace. These new initiatives will be supported by current market data and product research in order to achieve a realistically profitable outcome. By researching trends in the retail market and forecasting consumer spending habits, I can create 4 new initiatives that will improve sales for the brand. Furthermore, I will explore one of these new initiatives in-depth and provide product mockup examples that show how Urban Outfitters could produce it.
Photo: urbanoutfitters.com
WEEK 1
WEEK 2
WEEK 3
WEEK 4
- Brand Research
- Proposed new initiative
- Product Development
- Product Mockups
- Market Research
- Research into new product and why it's important or could work
- Find a new trend in the market or area for opportunity, growth or improvment
- Post product development and testing - Project reflection
- Data & market research to support new idea
OVERALL GOALS
*Continuous research and market updates must be met throughout the project process in order to make sure target goals are on schedule and still applicable to proposed initiative
Project Timeline
Strategic Case Study | 2020
COMPANY ANALYSIS URBAN OUTFITTERS
Brand Brief Brand i.D Company Overview Stakeholder Analysis Insider Dive Company Sustainability Ethical Considerations
Brand Brief
REGISTERED NAME
HEADQUARTERS
Urban Outfitters, Inc. (URBN)
Philadelphia, PA
COMPANY TYPE
INDUSTRY
Public Corporation / Subsidiary
Retail (Multinational Lifestyle)
OFFICIAL WEBSITE
SUBSIDIARIES & BRANCHES
www.urbanoutfitters.com
Anthropologie, Free People, Terrain, BHLDN Nuuly, Urban Outfitters
YEAR FOUNDED
FOUNDERS
1970 (as Free People)
Richard Hayne & Scott Belair & Judy Wicks
EMPLOYEES
RETAIL LOCATIONS
24,000 (2019)
Over 248 Retail Locations
Brand iD. Urban Outfitters is a leading retail brand in North American retail. UO targets young adults aged 18 to 28 through a unique merchandise mix, compelling store environment, websites and mobile applications. The product offering includes women’s and men’s fashion apparel, activewear, intimates, footwear, accessories, home products electronics and beauty. UO is the flagship brand of publicly traded company URBN which is a group of fashion brands that also includes: retailers Anthropologie, BHLDN, Free People, fashion rental company Nuuly, outdoor lifestyle brand Terrain, and restaurant concept brand Menus & Venues. Images: urbanoutfitters.com
Urban Outfitters offers an omnichannel shopping experience for their customers and use social media and mobile applications as a way to interact with them to enhance their shopping experiences. As omnichannel retailing continues to grow and evolve, UO customers increasingly interact through a variety of media, including smartphones and tablets, and expect seamless integration across all touchpoints.
Company Overview
A large portion of merchandise is exclusive to Urban Outfitters, consisting of an assortment of products designed internally and designed in collaboration with third-party brands. Retail stores are located in street locations, in large metropolitan areas and select university communities, speciality centers and enclosed malls that accommodate target customers’ propensity not only to shop but also to congregate with their peers. Urban Outfitters operates websites and mobile applications in North America and Europe that capture the spirit of the brand by offering a similar yet broader selection of merchandise as found in its stores, offers a catalog in Europe offering select merchandise, most of which is also available in its stores and partners with third-party digital businesses to offer a limited selection of product, which is available globally. Plans for future store growth will come from expansion domestically and internationally, which may include opening stores in new and existing markets or entering into an additional franchise or joint venture agreements. Plans for future digital channel growth to come from expansion domestically and internationally.
Image: www.urbn.com
Stakeholder Analysis KEY COMPANY STAKEHOLDERS This is an analysis of the holding company URBN and its subsidiary Urban Outfitters' stakeholders in relation to new product proposals. Before a new product can be implemented into the brand assortment plan, we need to assess who'll be affected by the potential outcomes of it and their importance to the brand. This will help us identify, prioritize and understand the stakeholders of the brand to effectively measure the products potential. The stakeholder map shown effectively categorizes different influential parties that need to be taken into consideration when making business decisions for a brand.
Legal
High POWER / INFLUENCE OF STAKEHOLDERS
On the right is a standard stakeholder matrix map that displays the level of importance different stakeholders have in a projects decision-making process. From this map, we can measure the importance and value of where we need to place our priorities when making changes to the brand. Because Urban Outfitters' holding company, URBN, is a publicly-traded organization, we can see that internal executives and shareholders have a higher influence than that of external suppliers or competitors. who are more flexible.
Executives Shareholders / Owners
KEEP SATISFIED / INFORM
MANAGE CLOSELY / WORK TOGETHER
Network & Security Suppliers
Corporate Developers
Government Customers
MONITOR / MINIMUM PRIORITY Service Providers
Low
COMPANY MATRIX MAP
Finance
Landlords
KEEP INFORMED / CONSULT Retail Employees
Competitors
Low
INTEREST OF STAKEHOLDERS
High
Photo: officesnapshots.com
Photo: AAU Publications
Insider Dive Maria Korovilas is a lead designer at Free People & has been a valuable part of the fashion industry for over 15 years. I had the opportunity to speak with her about the future of sustainable retail & what that means for URBN.
How do you think URBN can improve its CSR or sustainability efforts? It comes down to employee initiative when making change & room to champion change. Many higher-ups within the company are all for sustainability and always championing inclusivity and improvement. New product initiatives must make sense for the bottom line and shareholders. What are the most immediate issues that need to be addressed for the brand? Quality control, lots of corners cut because of returns & poor material quality. Every year margins get tighter, so it gets harder to produce high-quality product. Waste is a huge issue, need to improve ways to audit waste during the design process (Clo3D software should be pushed to its capacity in order to cut down on designs carbon footprint). What are some industry trends URBN should look into right now? Wholesale is tanking and direct to consumer is skyrocketing.
What are some areas URBN can venture into? URBN has always been interested in a natural dye process for their garments. They have seen it fault in production, so if someone can figure out a way to streamline and accomplish this issue then they will take notice, maybe adopt the idea. What trends or technology is the brand currently investing in? Movement and lounge clothing has been expanding & will continue to grow in popularity. On a corporate level, Clo3d design software has helped excel production and aided in faster lead times for the design process. What do you think URBN is doing differently from their competitors? What do you think makes them stand out? All brands under URBN are created to capture their consumers at different stages of life. They're good at analyzing their consumer & creating brand loyalty. They listen to their customer. Huge emphasis on creativity within their design team, they cast their customer as their employee which is smart bc they embrace the brand ethos & DNA.
Sustainability Efforts " URBAN RENEWAL" Since the 1970s, UO has had this section of product assortment that includes carefully curating vintage items, repurposed and pre-loved clothing. These items are made from deadstock fabric and they team up with NYC based fabric recycling company FABSCRAP as a source of material for their reworked Urban Renewal line. This partnership also helps the brand combat production waste and gives clothing scraps a second life.
REUSABLE SHOPPING BAGS To combat single-use plastic pollution, Urban Outfitters uses reusable packaging and shopping bags for all instore purchases, along with the option for digital receipts which saves on paper waste. This cuts down on waste and gives customers a bag they can reuse for their next purchase.
CLOTHING RENTAL SERVICE "NUULY" "Renting contributes to the shareable clothing economy by maximizing the utilization of clothing across a broad subscriber base, while also making subscribers happy with the newness and cost-effectiveness it provides on a day-to-day basis." Their new rental service, Nuuly, launched in June of 2019. It aims to combat fast fashion and allows consumers to try before they buy. Nuuly says "Renting means more clothes in your life, but it also means adding more life to clothes. We carefully clean, maintain and repair items, allowing them to be reworn over and over again, extending their lifespan and usage. When you rent from Nuuly, you're choosing from a shared closet with 1000s of options—and making a choice to step out of the fast fashion cycle."
As of 2020, Urban Outfitters does not publicly disclose which factories produce the brand's clothing
Ethical Considerations Holding company URBN and respectively Urban Outfitters have great initiatives in place to help combat sustainability measures for the business. There are still areas of growth the brand can explore to ensure they are doing the most for their future operations and consumer needs. The following are segmented areas, specifically related to industry sustainability practices, that the brand should consider in order to ensure a profitable future and good standing with their target market.
Chart: Euromonitor International
CONDITIONS Urban Outfitters does not disclose its factories to the public, possibly for competitive or financial reasons. It is increasingly becoming imperative that brands share this information with the public in order to hold accountability for poor supply chain conditions across the retail industry as a whole. Without accountability, the industry will continue to stay stuck in its wasteful ways. Urban could make an impact on the industry by utilizing third-party & unbiased auditing services that will make sure their manufacturers and suppliers are treating their workers well by paying them a livable wage and a providing a safe work environment of equal opportunity.
CONSUMPTION The use of reusable shopping bags and having a rental clothing service is not enough to make an impact on the retail industry. Urban Outfitters holds a major market share within the North American retail industry and is thus an industry leader. They have the responsibility and power to make real change. To combat textile waste at the manufacturing level they can invest in a fiber recycling system that will help cut down on excess scrap product during production and push for a more circular business model. At the brick and mortar level, they can set up an instore recycling service that could work alongside their customer rewards program. This could increase shopper retention rate and keep them coming back for a donation-based discount towards future purchases. These suggestions could help combat pre and post-production waste. Graph: greenamerica.org
COMPOSITION Most merchandise sold through URBN and Urban Outfitters respectively is composed of synthetic or man-made materials. The polymers used to create these materials and fibers take hundreds of years to break down in our environment and contribute to microplastic pollution. The dyes used to color these fabrics are hazardous and toxic to our water supplies and surrounding communities. Urban Outfitters should look into buying exclusively natural fibers or invest in their own manufacturing plant that can produce such fiber for production purposes. Alternatively, they could release an exclusive 'all-natural' fiber line within their merchandising mix that is only comprised of 100% biodegradable material. This collection might hold a higher price point, but research shows that shoppers are willing to spend a little more for product that aligns with their personal ethics. Furthermore, UO should look into manufacturers that are at the forefront of sustainable fabric innovation in order to invest ahead of the curve.
CLIMATE What is Urban Outfitters doing to combat immediate climate breakdown and how can they move towards more sustainable management of natural resources? Industry competitors like H&M, Zara and American Eagle all have 5-10 year outlined environmental commitment pledges that are publicly available. Urban Outfitters needs to look ahead, adapt and pledge to make changes within their supply chain for the next 10 years. A detailed promise or public letter could help jumpstart the brands' effort into a more environmentally conscious direction. They could also consider signing an agreement by partnering up with other industry leaders, where they all sign a charter for sustainable fashion together and work together to make a change (ex. Stella McCartney and the United Nations 2018 Charter for Sustainable Fashion).
Image via urbanoutfitters.com
Strategic Case Study | 2020
CONSUMER ANALYSIS URBAN OUTFITTERS
Target Consumer Consumer Behavior
Target Consumer DEMOGRAPHICS UO consumers are young adults between 18-28 years of age that identify as female, male or nonbinary in gender orientation. They heavily follow hipster subculture live alternative lifestyles. They have graduated from primary education and seek-out higher education. They come from middle to upper-middle-class tax bracket income families. Some of their occupations include; a working student or entering career employment as a recent college graduate. Many are self-employed with an entrepreneurial mindset or hold more than one part-time job, some have salary positions. Most still live with their parental guardians in houses or in some other form of shared or cohabitation living space with roommates. They live in a wide range of urban and suburban locations. Most do not practice a religion and identify as politically democratic or libertarian. Most are unmarried and without children, instead, they have animals or plants that they consider as part of their family.
Image via urbanoutfitters.com
Image via urbanoutfitters.com
PSYCHOGRAPHICS UO consumers are artistic, trendy and spend most of their time on social platforms. They are culturally sophisticated, self-expressive and concerned with acceptance by their peer group. They get most of their news and information from social media or other online news sharing spaces. They have an aspirational spirit when it comes to getting by and are always open to learning new hobbies or insights about growing markets. Technology is a major tool in how they operate and navigate through their daily lives. Hobbies may include interior design, photography, thrift shopping, advocacy, entrepreneurship, environmental sustainability, technological innovation, music festivals, ephemeral experiences, social media, cooking, or shared outdoor exercise. Because they were born into a high information age and with the ability to access most information instantly, they have a low attention span and low patience (especially with technology). Access to instant and excessive information has spurred an altruistic and moral overtone to the motives behind many actions of these generations. This is due to them knowing 'a little bit about a lot' in regards to current events and intaking their knowledge at a higher rate than generations before them. A higher level of empathy and more sensitivity overall is also a side effect of these changes. Most value experiences over tangible objects and would rather spend their time doing something meaningful that can benefit more than one cause, rather than something simply selfmotivating or beneficial. They also prefer instant gratification and need constant stimulus or improvements in order to hold their attention and feel fulfilled.
CUSTOMER PROFILE Name: Ali Morris Age: 26 Job: Art Director Location: Brooklyn, NY Industry Occupation: Advertising & graduate student at NYU Education: BFA in Advertising & current MBA candidate Relationship Status: Single with one cat named Gumbo. Active on dating apps. like Tinder and Hinge. Interests: Live music, outdoor yoga, farmers markets, thrift shopping, social media, skincare, and book clubs Hobbies: Loves to sew and up-cycle thrifted clothing in her free time, volunteers at NYC Fashion week, meets up with her friends on weekends for picnics in the park, runs an inspirational feminist art account on Instagram that has over 20k followers.
Images via urbanoutfitters.com
Image via urbanoutfitters.com
Consumer Behavior CUSTOMER VALS FRAMEWORK ANALYSIS UO consumers are a mix of Innovators and Strivers within the VALS framework. They work hard and aim for more fulfilling purchases through critical thinking and social awareness. While they typically fall into the middle-income tax bracket, they are educated and highly resourceful. Millennial and Gen-Z shoppers are technologically advanced in their retail navigation. They are quick to adapt to new innovation and so venturing into new technology is key for Urban Outfitters, their market will catch on quickly to newly proposed ideas and merchandise. They also care more than ever about transparency than any generation before them. According to a 2019 McKinsey Report, 65% of consumers have a need for transparency and trust in the brands they purchase from. This is also a trend we will continue to see rise amongst consumer behavior in years to come.
Strategic Case Study | 2020
INDUSTRY ANALYSIS URBAN OUTFITTERS
Target Market & Distribution Industry & Annual Sales Competitor Analysis Competitive Advantage S.W.O.T Analysis
Target Market & Distribution
Urban Outfitters target consumer base are young adults aged 18 to 28. As of January 2020, 248 Urban Outfitters stores were in operation, of which 177 were located in the United States, 17 were located in Canada and 54 were located in Europe, and sold merchandise through franchisee-owned stores in Israel and the United Arab Emirates. There are plans to open approximately 13 Urban Outfitters stores and close approximately four Urban Outfitters stores due to lease expiration, globally, in fiscal 2021.
Europe 21.8%
Canada 6.9%
USA 71.4%
Industry & Annual Sales MARKET SHARE In 1993, URBN sold shares in an initial public offering for $18 a share. Today the company trades on the Nasdaq exchange under the ticker URBN. In 2020 their market share was 6.75%. URBN has achieved compounded annual sales growth of approximately 4% over the past five years, with sales of approximately $4.0 billion during the fiscal year ended January 31, 2020. Urban Outfitters’ North American and European Retail segment net sales accounted for approximately 29.5% and 7.9% of consolidated net sales for fiscal 2020.
Image: urbanoutfitters.com
Competitor Analysis KEY COMPETITORS In these two graphs, we see Urban Outfitters placement in accordance with their market competition. The graph on this page focuses on the leading casual retail companies globally of 2020. The graph on the next page focuses on the preferred online shopping websites of American teens in 2020. Although these charts do not show Urban Outfitters competition in its entirety, we can still pull from them a scope of their key competition in the massive marketplace of global retail. These graphs focus on their key competition in North America. Their current leading competitors according to global data platform Statista are Amazon, Nike, Shein, lululemon, Levi's, American Eagle, Abercrombie & Fitch, Guess, Authentic Brands (Forever 21), Stitch Fix, Burlington Stores Inc. and The Gap.
Competitive Advantage ECLECTIC ASSORTMENT & OMNICHANNEL MARKETING Although the eclectic mix of products and the unique store and digital experiences offered by UO's Retail segment help differentiate them from their competitors, it also means that their stores compete against a wide variety of smaller, independent speciality retailers, as well as department stores and national speciality chains. Additionally, UO'S digital channel competes against numerous websites, mobile applications and catalogs, which may have a greater volume of circulation and web traffic or more effective marketing through online media and social networking sites than their competitors.
WHOLESALE MERCHANDISING DIVISION The Urban Outfitters wholesale division designs & sells the BDG apparel collection to select department stores. They display their wholesale products in certain department stores using a shop-within-shop sales model. The shop-within-shop model allows for a more complete merchandising of products, which allows UO to differentiate themselves from their competition and further strengthens each brand’s image. This merchandising strategy will be utilized in order to push a new initiative that will sell within stores and online to the UO consumer. By segmenting the product, you can make it stand out and add value to its importance.
Image via urbanoutfitters.com
S.W.O.T Strategic Analysis Internal Strategic Factors
External Strategic Factors
Strengths
Weakness
Opportunities
Threats
- Strong distribution network
- Poor financial planning, low liquid asset ratio
- Room to invest in new technologies
- Covid-19 & economic uncertainty from global shutdowns, recession
- Trendy product leads to high turnover which leads to major discounts on items & profit loss
- Stable free cash flow provides opportunities to invest in adjacent product segments. With more cash in the bank, the company can invest in new technologies as well as in new products segments which could open a window of opportunity for UO to expand product categories
- Decline of consumer confidence as a result of market disruptions caused by severe weather conditions, unseasonable weather, natural disasters, health hazards, political crises, etc.
- Highly skilled workforce through successful training and learning programs - Innovative product & marketing mix - Successful new market expansion initiatives
- selective trend forecasting, missed opportunity for sales - High workforce attrition rate
- High market competition in retail - Increase in imitation, fake and lowquality product, grey market growth
Strategic Case Study | 2020
COMPANY SUGGESTIONS URBAN OUTFITTERS
4 Growth Initiatives Product Proposal Deliverables References
4 Growth Initiatives RECOMENDATION OVERVIEW Overall, Urban Outfitters has shown consistent growth consecutively year over year. With the uncertain state of retail on the horizon due to the Covid-19 outbreak, we can recognize areas for growth where the brand can explore or improve upon. The following are a few key areas that should be considered:
1. Transparency 2. Consumer Engagement 3. Social Media 4. Trends
Image via urbanoutfitters.com
1. RADICAL TRANSPARENCY With the information age growing, consumers are more aware than ever of where their money is spent. This has lead to an increase in awareness of shady business ethics and a demand for accountability through transparent business practices. UO should look into ways they can safely share their supply chain information and better educate their consumer about where their merchandise is coming from. Social awareness apps like Good On You and Buycott have been increasing in popularity. These applications provide shoppers with insight into how sustainable and ethically conscious brands are by rating them on a sliding scale. Consumers use these apps while shopping and avoid brands that have bad ratings. According to Good On You, Urban Outfitters is currently rated at a 2 out of 5 by their ethical standards. They state UO's sustainability efforts are "Not Good Enough" meaning "These brands disclose some information in one or more area and consider some of the material issues, but are not yet adequately managing their impacts across their supply chains."
Image via goodonyou.eco
2. Images via fashionrevolution.org
CONSUMER ENGAGEMENT THROUGH DIGITAL EVENTS Due to the current Covid-19 outbreak, many retail brands have shut their doors to shoppers. UO should expand its online presence by utilizing current website traffic to push online events. These events could range from online tutorials, concerts, or even interviews with influencers or celebrities. The Fashion Revolution Foundation has published a case study that outlines the ways brands can engage their consumer through a digital lens in 2020. These events could exist on their website and then be linked to their youtube and Instagram accounts. Utilizing innovative technology such as 360degree imagery and virtual reality is also a rising trend. This will grow the brands following across multi-channel social platforms and boost the websites user engagement, leading to more sales.
According to a field study performed by Euromonitor International in the year 2020, Covid-19 has accelerated digital transformation within the retail industry and is projected for continuous growth in the next few years. According to the study, "despite the increasing drive towards digitalisation, many businesses report issues such as a lack of tech resources and funding, along with poor at-home internet connectivity, as key barriers to the transition to digital". Urban Outfitters should take this time as an opportunity to reinvest into their consumer base and grow their digital platforms for a more forward-thinking business model.
3. SOCIAL MEDIA GROWTH Urban Outfitters can grow their social media influence by offering a higher volume of engaging content on all their social platforms. They need to invest in the Gen-Z video app. TikTok where they could offer quick styling tips, interviews, tutorials, and profit off current inapp video trends. TikTok is the current leader in social applications in North America. The platform offers in-app. monetization of content and advertising placement. It has the highest reach of young consumers out of any platform. The content popularized on this platform leans towards an amateur & unedited style, focusing more on education, humour or music trends. Videos are 30-60 seconds long, so content does not involve a lot of time to make. This platform is a low risk / high-profit outlet the brand could use to garner sales and consumer engagement. Urban Outfitters YouTube channel has room for growth and could be utilized for a reoccurring web series or to educate consumers about the brand. With a current YouTube following of over 100k, they already have a good base audience to form an engaging connection with future consumers. According to a 2020 report published by Euromonitor International, brands need to build their own virtual platforms and communities for product discovery, advice and sharing in 2021.
4. INVESTING IN CURRENT TRENDS, NOT FUTURE ONES The rise of consumer interest in sustainability and product customization has made up-cycling and thrifting popular amongst young shoppers. Urban Outfitters can cash in on this trend by selling take home DIY-Sewing kits that offer a unique product experience and educational opportunity. The rise of loungewear & athleisure is also an area the brand could invest in more. Especially since people are increasingly working from home and seeking out more comfortable clothing options for daily wear.
Images via WGSN
Product Proposal Image: WGSN
NEW PRODUCT LAUNCH With the rise of stay at home and indoor activity due to covid-19, young consumers have turned to craft hobbies in their free time. WGSN forecasts that DIY fashion and sustainability mentalities of 'mend and make due' will rise in the coming seasons due to social lockdown. UO will create DIY kits to sell on their website and in stores for young shoppers to learn sewing basics and utilize recycled garments to create something uniquely new. These kits will come with easy to learn instructional steps, basic sewing materials, and a UO original garment item for the buyer to customize.
FORECASTING RESEARCH
Image & forecast report via WGSN
Deliverables PRODUCT MOCKUPS The UO-DIY Sew Kits will include one garment that shoppers can cut, sew and customize into a new and trendy item of clothing. In these mockups, I chose to use the example of a basic tee shirt and show how it could be transformed into a women's summer crop top through a few simple tools and easy to teach sewing techniques.
Elements of the UO - DIY Kit
DIY - KIT DESCRIPTION All kits will include the necessary items the user will need in order to create their customized garment. The garments included in the kits will come from the Urban Renewal sector of the company supply chain or be pulled from deadstock fabric or unsold inventory in order to utilize excess product that the brand already has on hand. Kits will be priced at $25 per kit. This price is reflective of other DIY kits that are available on the market currently and determined based on the brands existing price points and target consumer spending habits. Cost is also determined on Urban Outfitters standard 'first-in, first-out' method of pricing. This includes the cost of the merchandise and importrelated costs, including freight, import duties and taxes and agent commissions. The techniques learned from this product will allow shoppers the ability to apply them to any other similar item they own. This product shows consumers that new life can be given to an already owned and pre-loved garment, in hopes that they will think twice before throwing their pre-loved clothing away in the future.
References
https://www.urbanoutfitters.com http://fernfortuniversity.com/term-papers/swot/1433/657-urban-outfitters.php https://www.annualreports.com/HostedData/AnnualReports/PDF/NASDAQ_URBN_2019.pdf https://0-www-statista-com.library.scad.edu/ https://www.authenticbrandsgroup.com/ http://investor.urbn.com/static-files/5404ac0c-c3c2-4f68-b589-6c0da6622f43 https://directory.goodonyou.eco/brand/urban-outfitters https://aeroleads.com/blog/5-examples-ideal-customer-profile/ https://goodonyou.eco/how-ethical-is-urban-outfitters/ https://www.urbn.com/making-an-impact https://www.fool.com/investing/2020/03/06/how-urban-outfitters-plans-to-turn-things-around-i.aspx "URBAN OUTFITTERS INC 2019 Annual Report Form (10-K)". United States Securities and Exchange Commission. June 2020. "Urban Outfitters form def 14A". Retrieved June 2020. https://www.greenamerica.org/unraveling-fashion-industry/what-really-happens-unwanted-clothes Euromonitor.com https://www.nielsen.com/us Statista https://www.mckinsey.com