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Transcript of H&M
Identification of Customers
Daily and Short-term Operations
- Can use their relationships with celebrities and designers to break into new markets, such as athletic gear for their collaboration with David Beckham
"Fashion and quality at the best price."
Clothing for women, men, teenagers and children along with intimates, accessories, footwear, cosmetics, and home furnishings.
- Reputation of having the latest trends at an affordable price
- Diverse target market
- Keeps customers returning by constantly updated merchandise
- Endorsed by many celebrities and designers
- Customer confidence in always providing the most affordable prices
- Prime shopping locations
- Uses multiple suppliers to obtain the best prices on materials
- makes direct contributions to emergency relief efforts and humanitarian aid
- Average overall delivery time is 12 weeks (this is the time of design until the item is sent to stores) which is on average 50 percent quicker than competing stores
- Widely known as a woman’s clothing company but has not yet caught on as strong for men
- Men’s clothing is a sizable department yet does not match the revenue brought in from the woman’s side
- Large volumes of clothes are ordered
- Clothes are not sold and they must drop the already low prices in order to make room for the next shipment
- Competing stores may try to copy the successful techniques
- Major competitors include Inditex (parent company of ZARA), Uniqlo and Gap Inc.
- Achieve between 10% - 15% increase
- Achieve a 10% increase after tax
- Increase inventory turnover by 15%
- Integrate new technologies and design
- Increase web presence using tablet and smart phone applications
- Continue collaborations with most fashion forward designers and celebrities
Satisfaction of Publics
- Maintain excellent relationship with both customers and employees
Overall target market
- fashion forward customers
- women and men
- any age
- any income
- online shoppers vs in-store shoppers
- prioritizes fashion and quality vs prioritizes price
- Opening new store locations
- Tracking inventory
- Hiring and training personnel
- Developing new merchandise displays and store layouts
- Offering competitive prices
Responses to Environment
- Stay up to date with the latest technology used in the retail industry
The new fitting room system will provide H&M with greater customer satisfaction and higher in-store sales.
The new fitting room system will improve customer flow in stores, improve check out time, provide data on customer habits and popularity of inventory and maximize sales opportunity.
- To provide a hands-on experience with the customer
- Allowing them to customize their selections by seeing the availability of items in the store
- To enhance the customer’s experience by providing them with “Tips”
- First we would test out the “screens” in a few of H&M’s popular locations: midtown-Manhattan, L.A., D.C.
- They will be available in both men and women fitting rooms (embedded in wall)
- No price mark-ups will be done
- Though the screens are a lot to invest in, predictions indicate that profits will only increase over time by allowing the customer to really see what is available at that specific location
- Having “Tips” for accessories/clothing items to match with current item will make consumer more willing purchase more
- Announcement on website
- Advertisements in stores and window displays
- Screens will ultimately promote themselves once customer is in fitting room
- Then a quick 1-5 Star rating of customer satisfaction after use
- Attracts customers old and new
- New additives can always be subject to negative feedback, depending upon the consumer
- Women may find this of better use; only the feedback will let H&M know for certain
- The competitive advantage is that this fitting room technology enhancement has not been done yet amongst other apparel companies
- H&M will fully comply with all standards of safety, in and out of the fitting rooms for all employees and customers
- Touch pads will be securely placed and will be inaccessible to children to avoid problems
- Changes depending on the time of the year, seasonal promotions in and outside of the H&M corporations
- H&M will provide this service as a shopping environment enhancer and be able to keep track of consumer behavior, inventory, and types of purchases per location
- Having this system will enhance H&M’s knowledge of what is of good use to consumers