1.! Background and Key Facts 2.! SWOT Analysis 3.! Strategy & Goals 4.! Action Plan 5.! Project Time-Line
KEY FACTS !"!#$%&'!()$**+,-(
•! Topshop is a retailer of women’s fashion and clothing, with the extra store Topman that sells cloths for men. •! With 300 stores in Britain and 100 international outlets (all franchises) in Asia, Europe and Latin America. •! The chain made around $200M profit (before tax) in 2008 on revenues of $1.14 billion. •! The United States is becoming a target market based on its attractive population size, affluence, and increasing interest in European high fashion.
THE U.S. MARKET !"!#$%&'!()$**+,-(
•! In 2007, Topshop launched the “Kate Moss Topshop” collection in 19 Barneys stores to better understand the US market. •! In 2009, Topshop launched its first North American retail location in New York (Soho). •! Today, Topshop has two stores in US (NYC & Chicago), with the objective to open 13 additional stores. •! First year gross sales forecast for their NYC store: $30M to $40M.
BRAND POSITIONING !"!#$%&'!()$**+,-(
•! The Company Mgt decided to stop competing just on price in the 90’s. •! The decision was made to create a fashion authority. •! Now the attributes associated with Topshop fit adequately with the “affordable luxury” category as well as “competitive price".
(a) Source: Topshop Final Report
•! Topshop offers large varieties of products and services in order to accommodate the very diverse audience they draw and provide “basics to cutting edge” trends, keeping Topshop (and its customers) “ahead of the style game”. - Topshop lines : “Mainline”, “Premium”, “Boutique” and “Unique”. - Topshop services: “Style Advisor,” “Topshop To Go” and “Topshop Express”.
•! Prices vary from line to line to accommodate all aspects of the spectrum: -! “Mainline”, one of their most popular lines, is geared toward affordability offering classic styles at reasonable price. - Topshops “Premium” line is focused on shoppers of quality products who are looking for apparel made with superior materials, intricate detail and sturdy craftsmanship, but are on a higher price point scale.
Demographics (a) •! Target customers are women aged btw 18 - 35 years. •! Income range from $10,000 to $50,000 per year. •! Target audience is young fashion-conscious people on a budget.
(a) Source: Topshop Final Report – Survey (150 people)
Psychographics: •! According to VALS II (a), there are 8 segments: innovators, thinkers, achievers, experiencers, believers, strivers, makers and survivors. •! Topshop targets two of these segments: achievers & experiencers (b).
(a) Source: http://www.strategicbusinessinsights.com/vals.shtml (b) Source: Topshop Final Report
Psychographics(a) •! Achievers have goal oriented lifestyles and a deep commitment to career and family. Image is important to Achievers; they favor established, prestige products and services that demonstrate success to their peers. •! Experiencers are motivated by self expression. They are young, enthusiastic, and impulsive consumers. Their purchases reflect the emphasis they place on looking good and having "cool" stuff.
(a) Source: http://www.strategicbusinessinsights.com/vals.shtml
•! Main Topshop Competitors are: H&M, Zara, French Connection and GAP. (a)
(a) Source: Topshop Final Report - Qualitative survey conducted in Boston with a sample of 150 people
DIGITAL INSIGHT !"!#$%&'!()$**+,-(
•! NY Direct Searches - Website Comparison: Topshop Vs Competition. (a)
Us.topshop.com (b) •! Monthly visitors: 225,000 •! Backlinks: 437 •! Google Page Rank: 5
Topshop.com (b) •! Monthly visitors: 2,700,000 •! Backlinks: 169,000 •! Google Page Rank: 7
(a)! Source: Google Insight (b)!...
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