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Urban outfitters inc.
Transcript of Urban outfitters inc.
Urban Outfitters Inc. is an American merchandiser, owning Urban Outfitters, Free People, & Anthropologie.
The company offers casual clothing, accessories, & housewares aimed at the 18-30 age group.
Headquartered in Philadelphia, PA.
Operates in the US, Canada, Denmark, France, Germany, Ireland, Sweden, England, & the Netherlands.
A total of 401 stores.
The stores are mostly located in the downtown area of large cities.
^This is important because the company aims toward college students (who are likely to be living in an urban section of a large city.)
Inventory primarily consists of clothing, footwear, music, accessories, cosmetics, & housewares, which largely draw from bohemian, hipster, ironically humorous, retro, & vintage styles.
Urban Outfitters includes so many different products into their stores so that something can appeal to just about everyone.
"We try to appeal to the mainstream and those who want to cross the line every once in a while."
People with bohemian, hipster, retro, vintage styles.
"Edgy" Campaign; ex: Kent State sweatshirt.
A review by NBC shows Urban Outfitters has a history of marketing controversial products & then discontinuing the sale of those items once media attention & public outcry have gone viral.
The company was created in 1970 in Philadelphia by Richard Hayne & Scott Belair, recent college graduates.
They came up with the idea of a store for college students, selling inexpensive clothes & itemfor dorm rooms/apartments.
Urban outfitters inc.
Annual Sales- Past 5 Years
2010: $1.94 billion
2011: $2.27 billion
2012: $2.47 billion
2013: $2.79 billion
2014: $3.09 billion
Anthropologie & Free People brands lift Urban Outfitters profit & revenue.
Getting more popular.
Urban Outfitters doesn't do commercials or print ads.
Advertise through social media: Facebook, Instagram, Twitter, etc.
Advertise on billboards.
Use models of the target market age.
Loyal customer base.
Constantly changing their inventory.
Their stores are known to have a good shopping environment.
Free People & Anthropologie.
Economic slowdown: Until economic times improve, sales will be affected.
Trends changing: Retailers must change their product selection often in order to match the consumer's latest desires. This requires expensive testing, research, development, and marketing in order to keep pace.
Only have stores in metropolitan areas.
Urban Outfitters has been criticized for offensive clothing, which can drive customers away.
Limited target market.
Urban Outfitters can create a new style for the store every season.
Can invest more in menswear.
New Line of Summer Clothes: USummer
Target Market: women ages 18-30; people who have bohemian styles. It is made for this age group.
Goals with Launch: sell out of USummer, good reviews.
Test Market: Urban Outfitters store in New York City; wide variety of people with different style tastes.
Launch: March 2015; time before summer to advertise.
Performance Standards: high quality, customer satisfaction.
Bohemian shorts, shirts, pants, swimwear, shoes, etc.
Successful Addition to UO portfolio because: It satisfies to Urban Outfitters's customers' wants, Bohemian clothing is in style right now.