AHMED DOSPATLIEV
ASSIGNMENT 5 - FASHION RETAIL
PRIMARK
How fashion trends impact Primark?
21th century is the century of ''see now, buy know'' fashion, retailers like Primark
have to adopt new techniques to keep up with the so-called ‘fast fashion’ and also to
keep its position on as a competitor. Fashion of four seasons and many influencers
who can change the trend for very short time make it very difficult for retailers to
keep up in the competitive retail environment.
The biggest influencers of new trends on the market are mainly luxury brands such
as Versace, Philipp Plain, D&G and Supreme, brands which are usually worn by
celebrities. Once for example Versace set a new trend on the market every brand
start selling the same thing. For example flip-flops and socks trends, Gucci set this
trend and then every brand start selling flip flops even the biggest ones have to get
on the trend, because if they don’t, they going to lose customers and
competitiveness. Once the new trend is on the market and all luxury retailers are
already on the trend and people from middle and high class can afford it but people
from the low class cannot, and here it come Primark with the cheapest version of the
luxury brands. Primark is a clothes retailer with target market mainly people in the
low class, people with low income, young people 2-35 years old. Primark have to
follow all luxury brands, for every item which they sell, Primark have cheaper option,
affordable for people from the low class.
Primark follow strictly the fashion trends and as many people know in their stores
there are different products every week. They update their stores weekly, which tell
us how fast the market is moving and how fast trends are coming and going. All that
cost them a lot of money, because once the new trend come, the demand for the
previous ones decline and if Primark did not sell all the clothes made for specific
trend, before the new trend come they have to put the clothes on clearance or
recycle them which cost Primark money.
ASSIGNMENT 5 - FASHION RETAIL
PRIMARK
How fashion trends impact Primark?
21th century is the century of ''see now, buy know'' fashion, retailers like Primark
have to adopt new techniques to keep up with the so-called ‘fast fashion’ and also to
keep its position on as a competitor. Fashion of four seasons and many influencers
who can change the trend for very short time make it very difficult for retailers to
keep up in the competitive retail environment.
The biggest influencers of new trends on the market are mainly luxury brands such
as Versace, Philipp Plain, D&G and Supreme, brands which are usually worn by
celebrities. Once for example Versace set a new trend on the market every brand
start selling the same thing. For example flip-flops and socks trends, Gucci set this
trend and then every brand start selling flip flops even the biggest ones have to get
on the trend, because if they don’t, they going to lose customers and
competitiveness. Once the new trend is on the market and all luxury retailers are
already on the trend and people from middle and high class can afford it but people
from the low class cannot, and here it come Primark with the cheapest version of the
luxury brands. Primark is a clothes retailer with target market mainly people in the
low class, people with low income, young people 2-35 years old. Primark have to
follow all luxury brands, for every item which they sell, Primark have cheaper option,
affordable for people from the low class.
Primark follow strictly the fashion trends and as many people know in their stores
there are different products every week. They update their stores weekly, which tell
us how fast the market is moving and how fast trends are coming and going. All that
cost them a lot of money, because once the new trend come, the demand for the
previous ones decline and if Primark did not sell all the clothes made for specific
trend, before the new trend come they have to put the clothes on clearance or
recycle them which cost Primark money.
