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FOREVER 21 VS UNIQLO

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Cheng Yee Lam

on 12 May 2013

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Transcript of FOREVER 21 VS UNIQLO

Forever21 is a large international chain of fashion brand store. So, until the year 2013, Forever 21 has been in the world opened 545 stores: Introduction We hope to through the project with 4Ps, understand Forever21 course of development. Through 4Ps comparison with Uniqlo, in order to identify Forever21's strengths and weaknesses, and identify threats encountered Forever21 in Hong Kong,
We can re-formulate an environment conducive to the development of Hong Kong's new marketing strategy. Forever 21 Forever 21 is American popular Fast Fashion Brand, founder Korean Chang Do Won on April 21, 1984 in Los Angeles. The United States opened the first of only 900 square feet large clothing store, named Fashion 21. South Korea fashion to American
Target customers for the Korean
Americans noticed their store
Business is getting better
Wand to become a forever fashion brand
Renamed the brand called Forever 21. Now, Forever 21 chain clothing business has been all over the United States, Canada, Europe and Asia, currently more than 500 stores. Their main customer objects to the young men and women of 10-30 years of age, so they sell clothing will be more fashion. Price Positioning Map of Fast Fashion Brand Price is popular (1 item round of $50 to $250 range)
Clothing is fashion
Attract a group of women: general economic capacity, more shopping desire. Place In recent years, Forever21 order to be able to enter the Chinese market once again, the first in 2012 in the heart of Causeway Bay, Hong Kong set up the 6-storey flagship store. each floor has different characteristics: 4 / F
Accessories 486 in the Americas
50 in Asia
7 in Europe
2 in Australia. Hong Kong B / F
Simple women's clothing and men's fashion 1 / F
Young colorful women's clothing and Kids Series 3 / F
Mature city women's clothing In Hong Kong, Forever 21 unlike as UNIQLO and H&M has a number of branches, but to geographical position, Forever21 are also have a advantages: In front of the SOGO Near of MTR Station Exit F Located in the tourist areas Ground Store A lot of passenger 4Ps of Forever21 Price
Place
Product
Promotion G / F
Trend fashion women's clothing 2 / F
Sweet campus clothing Product Forever 21 is mainly engaged in Europe and American fashions shop. And there were have six different clothing brands to sales six different targets. Around 20years old about the pursuit of fashionable young women. For 25-35 year-old career mature women, career mature clothing style. Large size clothing for large size women Kids fashion clothing for 6-14 year-old girls Target for the fashionable young men Target for men and women Underwear
Swimwear
Sportswear
Relaxing at home
Shoes
Handbags
Jewelry
Cosmetics
Make-up tools Considerate to take care the needs of every woman , convenient for every customer in the store to get one-stop shopping pleasure, at the same time enhance the turnover. Promotion Attract Customers Improve the Reputation of the Brand Crossover Media Internet Price Deals Collaboration with famous American singer Sky Ferreira Cooperation with the American TV series - Gossip Girls Crossover with Hello Kitty Star effect to attract customers Forever 21 clothing brand magazine Poster Advertising Forever 21 apps Through different media, provide a lot of information to customers Cooperation with the Mainland shopping website Taobao Chinese official website Features Blog Facebook, Twitter, Instagram and other website cooperation Cooperation with different website, make customers easy to get more information. Coupons Buy one get one free Discount Price concessions to increase sales Through these different promotes to attract the customers want to come to the store shopping. Also, these promotion can help the brand create a fashionable image. Opening Party Invite Blogger Gift Card Forever 21 through to invite customers to join their events to add a relationship with them and make customers enjoy their party or shopping, then it can improve their brand reputation. We choose the brand Uniqlo as Forever21 compare Brand. Because Uniqlo is a tycoon in the fast fashion clothing brand. And we will through 4Ps to compare with Uniqlo, to find out Forever 21 weakness and improve inadequate of Forever 21. Forever21 sales object is scheduled for the10-30year-old young a group of, in order to the female-dominated. UNIQLO's design concept is "MADE FOR ALL". So, Uniqlo does not have a specific sales target groups. Target User Price JEANS HK$299 CAMISOLE HK$79 JEANS HK$85.90 CAMISOLE HK$21.90 Place Branch Location Shop Modus Decoration One Store (In Hong Kong) Sixteen Stores Shopping Mall (E.g. Tmt plaza Store, World Trade Centre Store, Maritime Square Store ) Capitol Centre, Causeway Bay Large Flagship
Store General Shopping Malls Shop Simple Design With the Clothing Theme Design Product Products in Forever21 style is more fashion and have more accessories as for selling. It can help the young people to find out their ideal style. Uniqlo on product design is relatively simple, suitable for anyone. And they have their own patented design. E.g: UV Cut, Airism, Ultra Light Down Product Compare with the sales of product Forever21 Sales by Category Uniqlo Sales by Category Promotion Promotion is especially important for the apparel retail businesses. A good promotion can bring more customers to improve the company earned profits. So, we will compare the different promotions of Forever 21 and Uniqlo. To identify the strengths and weaknesses of Forever21 promotion. Advertising Uniqlo:
TV Advertising Forever 21:
Large TV on Store Uniqlo will spend funds the production of television advertising to attract the viewers at home want to buy in the shops. But at Forever 21, the advertising play on two large TV in the shop wall to attract the customers come to shopping. Spokesperson Forever 21:
American singer Sky Ferreira & local blogger Uniqlo (Hong Kong):
Bosco Wong& Gao Yuanyuan Uniqlo will be recruited to the actress as a spokesperson, want to through a star effect to attract customers. But, Forever21 will invite the local blogger for brand endorsement, make the brand get close to customer. Event Forever21:
Store Opening Party & Hello Kitty Collection Launch Party Uniqlo:
T-shirt Design Competition & Recycling Project Uniqlo organized activities are mainly related to the public interest, so that brand building a healthy image. But, Forever21 will be organized event to make customers enjoy in forever21 to help and build a vibrant brand image. Sales Promotion Uniqlo (Hong Kong):
Seasonal Sales Forever 21 (Hong Kong):
Irregular Sales (meaning the sale not stable) When end of the season, Uniqlo will have a large sales promotion. But in the Forever 21,their sales promotion was not stable and not conspicuous. Uniform Uniqlo:
Employees need to wear the company's brand clothing Forever21:
No specific Uniform, staff just wear their own clothing The employees of Uniqlo need to wearing the company's brand clothing to work, and it can help to promote their brand. But at Forever 21, they will not restrict employees must to wear their brand clothing. Website Forever 21:
Forever21 Chinese website Uniqlo:
Uniqlo Hong Kong Local website Uniqlo in Hong Kong Have a own official website, it can help the customers easy to know the new information about Uniqlo. But, Forever 21 in chain just have China's official website, some items in the website were not on sales in Hong Kong store. Annual turnover The line chart was shows the revenue rank of Fast Fashion brand in the world. Forever 21 in the starting point less than other companies
UNIQLO revenue increase greater than Forever21
The number of Forever 21 CAGR(25%) was more than other brands. That in prove the brand of Forever 21 is still rising trend. Based Brand Equity Model Consumers view of Forever 21 Do not belong to a Higher-End Apparel Brand

Ranked first of Teen and Discount Brand

Entered into the sales object is successful The graph shows the female consumers how to feel the brand recognition of Forever 21. high Brand recognition
Convenient the Share passenger Shopping
Most customers will not shop recommend to others
More attractive to the 13-22 year-old customer, but it can not attract the patronage over the age of 23
Customers that the brand fashion
Most people buy Accessories, but the tops is less
Customers generally believe that the worst of the brand is the positioning the freight yard, the best clothing style Brand building image of a fashion trendsetter for young people.

The brand always change new clothing to attract customers.

The species diversity can help customers find the personality. Strengths Weaknesses Threats Opportunities S. W. O. T. Strengths. Weaknesses. Opportunities. Threats Located in the tourist areas More than individual travelers
Large flow of people
Stimulate consumption Many kinds of clothing Offers one-stop shopping pleasure
Attract different types of customers spending
Surrounded by large marketing practices Richly decorated To attract customers into the shop
To create a good shopping atmosphere
Increasing consumer desire to buy
Improve the reputation of the brand Clothing seasonal transition Bring freshness to the customer
Increase customer consumption Pushed the new clothing frequency To attract customers into the store shopping
To increase the number of customers into the store
To maintain a high passenger traffic Business hour for a long time Increase the income of turnover
Attract nightlife habits of patronage Trendy Attract young group into the store shopping Branch The public can not be attracted in Kowloon and the New TerritoriesIs not convenient enough Weak management Staff turnover volume
(Increase employees working pressure)
Shoplifting
(Make guests lose confidence)
(The shop cause damage to property) Training Staff easy to commit unnecessary mistakes
Reducing efficiency Logistics costs Increased costs Men's style Not be able to attract male customers shopping
The poor quality of the clothes
So that the loss of customers The poor quality of the clothes So that the loss of customers Poor staff attitude The staff will not help customers find the Item, so that customers do not want to patronize Promotion irregular To the customers unclear PROMORION time
Reduced interest income The furnishings of Item is too high Difficult to pick up the Item
Inconvenience for the guests
Increase in staff workload Unable to attract mature women Lack of mature taste clothing
The loss of purchasing power of the consumers
Reduce the company's interest income Competitors The customer is easy to lose
Need to introduce more promotion to retain customers Shop rent expensive Costs
Income may not rent payable Expand the men's fashion market

The creation of a subsidiary brand for mature women over the age of 25 Conclusion Through comparison with Uniqlo on the 4Ps and SWOT analysis to identify forever21 weaknesses in the marketing strategy, intended to draw Uniqlo successful experience in marketing strategy to improve these weaknesses and for the forever21 service, Place promotion and product to develop a new marketing strategies.Forever21 in Hong Kong to attract more customers and profits. Service Learned from the SWOT analysis, the forever21 customer service awareness is very weak, so we need to develop a customer service system that the brand. Need to smile to greet the guests and need the Greeting “welcome to forever21”
Initiative shopping bag for customers
Take the initiative to provide customers with services
Customer needs help, try to help guests, if busy to find other staff to request help
Patronage need greeting "Thank you for your patronage, and welcome to the next visit" More than a few ways to make the customer feel respected in the shopping and to feel a good impression in store. Then customer willing to come again, and will be recommend to their friends, which also attract new customers, to establish a good image for the shop at the same time. Place From the SWOT, we know most customers are not satisfied with the placement of Item. To solve this problem, we also re-planning the layout Design main aim is to greater convenience for customers shopping. Positioning of items in the shops, should be placed in the customer reach out and touch. So the display shelf location can not be higher than the Customer eyes above the horizon. Also, the display clothing should be placed in the near of dummy The above improvement, is convenient for customers to pick up and look for Item, while reducing the workload of the staff, so that employees have more time to take care of other work, and enhance staff productivity. In addition, the in position improved convenient for customers to pick up Item, in fact, can also increase customer shopping desires. Promotion We know that for Promotion to find other media companies, the company will need to pay a certain cost. But we can follow the example of Uniqlo approach and provide that employees need to wear the company's brand clothing as a uniform. This approach has the following benefits: Eliminates the costs
(the company does not need to pay extra money, to other Advertising company. At the same time, it can increase the shopping opportunities of the employees in the company, it can generate additional income.) Employees must be in the shop consumption
(wearing company clothing is a policy, employees having staff discount, but the company is able to absorb a small amount of interests) Employees to become company dress models
(when employees wear the company's clothing work to increase the interest of the customer in the shop. At the same time, it can be a brand clothing for silent promotional) New direction of development Forever21 customers ages is around 13-22 years old based on the data we have collected.
Forever21 has some mature women's clothing, but not many styles and types that have not been absorbed by the group of high spending power of customers Therefore, we propose to develop a new brand for the customer is fashion conscious mature professional women around 30-45 years old Place Still at the flagship store
Located near the 3/F elevator When the customers was taking the elevator, they will be able to see the products. Also, the style of 3/F is mature city women's clothing, that was in accordance with our new clothing line. Product New clothing line brand: This target group always have to go to work, dressed in formal wear, the brand products will focus on sold suits and it will like a GIORDANO LADLIES and Zara style Price Round of HKD$250-$300 range. Price following the Forever21 now pricing a slight increase, because the customer base for high-income, so the price may slightly increase Zara Giordano Ladies Promotion In Store: Increase the posters in prominent locations
Timing for broadcasting Internet: Facebook
Official website MAGAZINE Fashion women's fashion magazine advertisements
JESSICA Fashion & BEAUITY The development of this brand of Forever21 expand the customer base, the price of a single product and customer price increase, make the company get more profit.
New direction of development According to statistics, FOREVER21 's customers are young women as the main consumer group, 77%
Age is 13-22 years old because the F21 is directed at the female market, male market only accounts for 5%
Than 8% more children's wear market is small, compared with other brands such as UNIQLO, men accounted for 45%, roughly in line with 47% of the female market
Which would see the men's market has a great deal of space for development. About 21-35 years of age
Place Still located in the flagship store
Located at B/f full-thickness. Also, shopping with more proportion of men and women, a flagship store will be able to meet a number of different customer groups.
Product More mature fashion casual image, can wear costumes for different occupations
New clothing line: Price Round of HKD$250-$350 range. Can refer to the prices of the Forever 21 Men and slightly higher
Promotion In Store: Increase the posters in prominent locations Internet: Facebook
Official website Magazine MEN'S UNO, MR, HIM
More mature fashion magazine
The End http://www.forever21.cn/Company/AboutUs.aspx
http://blog.forever21.com/category/fashion/
http://online.wsj.com/article/SB10001424052748704629804575325121769810944.html
http://fashiondesignersurvivalguide.blogspot.hk/2011/10/forever-21.html
http://www.youtube.com/user/Forever21Inc?feature=watch
http://www.kurtsalmon.com/US/vertical-insight/Measuring-the-Immeasurable-?vertical=Retail&id=734&language=en-us
https://www.facebook.com/#!/uniqlo?fref=ts
http://www.kilkus.com/pdf/
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