Essay on "Fashion Buyer Brand Own Branded"

Essay 8 pages (2662 words) Sources: 4

[EXCERPT] . . . .

Consumers opt out for store brands in order to save money and this feature has turned out to be an advantage for the stores. The national brands sell for their names whilst when purchasing a store brand affordability is a key component for the buyers. A store has the opportunity to earn more if they manage to create their own brands. This would attract more customers and bring in more revenue to the store. If reasonably priced goods are offered along with good quality these stores can earn customers loyalty and attain repeat customers.

Presently, due to such competitive marketing environment the retailers have been forced to reconsider their store brand portfolio so as to maintain their place where the customers are just in search of those brands that along with value also offer unique, identifiable voice and are able to deliver substance with the purpose. Even though, store brand are continuously growing just about as fast as the sales of national brands, the dwindling recession however has brought down some of the absurd energy.

The purpose of generic brands or private labels is to offer consumers with a carbon copy of an original product with the intention of attracting them with its lower price tag. By offering private labels the retailer get to take control over the product factors including, size, pricing, design, packaging, production as well as distribution. In order to gain market share over national brands the retailers can develop and implement innovative ideas. Also, if a private brand is successful it can be a pathway of creating better sales opportunities for retailers. Target, is an example which at present is one of the retailers aggressively pushing its own brands. According to Target, the purpose is to offers its store brand products that match name brands in quality and beat them in price.

Impact of the fast fashion industry

Fast fashion is basically the production of low cost clothing that goes on to mimic the luxury clothing trends that are present today. The major aim is to work to create desires in the young customers and make them wish they could afford the luxury products as well. As it has been observed, these fashion trends are coming up at an increasing pace. Trends come on really fast, become public and popular and then end up in the trash bin even faster. (Joy and Sherry et al., 2012)It has been stated that fast fashion is not sustainable because it encourages disposability.

Tokatli (2008) states that back in the days the turnaround time from catwalk to the customer used to be around six months. Now days, it is seen that companies like Zara and H&M are attaining profits and giving customers the newest designs within weeks. The companies are living on giving newer products at a higher pace. The main idea here is to make new products in small batches and get them out in the market as soon as possible. As mentioned before, the trendy hungry buyers go on to grab the newest thing on the ramp. Before they even wear the newest design by Zara, another design is already on its way to the cat walk. This sets up a huge battle between the customer and his or her wish to match the latest trends.

If looked at from an ideological perspective, it is clear that the fast fashion industry is working to exploit the buyers. To make sure that the buyers keep on returning, the high street retailers are giving out new trends every week. They are making their purchases on a weekly basis and changing their stocks faster. The overall effect of this fast processing is the mass exclusivity. These products are being made faster and in bigger volumes. This means that the labor and the cost of the companies is decreased which would automaticity mean that the quality of the product is also reduced.

It was seen that companies such as Zara are even outsourcing some of their manufacturing now. Enthusiastic customers are on the lookout for better and newer products. This does make a significant impact on the creativity of the buyer and of the fashion market itself. It appears that the customers are keener on attaining the newest product rather the most aesthetically pleasing one. The customers are ready to pay even if they are not satisfied from what they are buying. The only reason they are purchasing it is so they are the ones to have the latest dress deign by Zara. Fast fashion coupled with disposable income such as credit cards leads to increasingly young customers dwelling on these trends.

Conclusion

In conclusion, it can be seen that brand name goes on to provide value for the customer. The customer is sure of the fact that he is attaining the best quality for the money that he is giving. Despite the advantages, own brand products do serve to provide the customer with decent products at affordable price. Unfortunately, fashion today is also working to exploit people and cash their willingness to follow the trends into the society. Branded fashions names start the trend and own brand name follow through with that. It appears that buyers of the branded fashion are the trend setters in the society today. Their purchasing and apparel habits are picked up by other people around them. The buying habits and role of the buyers of brand name products are followed by those who are purchasing own brand stores. Seeing how much the competition has increased, own brand clothes are coming in at the same pace that the branded clothes are. Customers who cannot afford the brand names are well aware of where they have to shop and are more than ready to purchase the trendy clothes at a cheaper price.

References

Bruce, M. And Daly, L. (2006). Buyer behaviour for fast fashion. Journal of Fashion Marketing and Management, 10 (3), pp. 329 -- 344.

Coelho, P., Klein, D., Mcclure, J. And PESENDORFER, W. (2004). Fashion cycles in economics. Econ Journal Watch, 1 (3), pp. 437 -- 454.

Joy, A., Sherry, J., Venkatesh, A., Wang, J. And Chan, R. (2012). Fast fashion, sustainability, and the ethical appeal of luxury brands. Fashion Theory: The Journal of Dress, Body & Culture, 16 (3), pp. 273 -- 296.

Saner, E. (2013). Why did Marks and Spencer lose its edge, and how can it get it back?. [online] Retrieved from: http://www.theguardian.com/business/2013/apr/19/why-marks-spencer-lose-edge [Accessed: 22 Sep 2013].

Sheridan, M., Moore, C. And Nobbs, K. (2006). Fast fashion requires fast marketing: the role of category management in fast fashion positioning. Journal of Fashion Marketing and Management, 10 (3), pp. 301 -- 315.

Simmel, G. (1957). Fashion. American journal of sociology, pp. 541 -- 558.

Sproles, G. (1979). Fashion: Consumer Behaviour Toward Dress. Minneapolis.: Burgess Publishing Company.

Tokatli, N. (2008). Global sourcing: insights from the global clothing industry -- the case of Zara, a fast fashion retailer. Journal of Economic Geography, 8 (1),… READ MORE

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