CONTENTS Executive Summary
Market Position
History
Competition
The Brand
PESTLE
Mission Statement
SWOT
The Customer
The future (Brand reposition)
Executive Summary In this brand audit I looked into where my brand sits in the market and why it is positioned where it is. Using my research into the brand Jaded I am going to discover what area the brand can improve and develop to grow as a brand. I am going to do this using SWOT and PESTLE analysis to deduce what areas the brand can build upon in the future. I created a brand onion in order to break down the various attributes of the brand so I was able to analyze the brand identity which gave me a wider understanding of the brand as well as the market in which it operates. Looking closely into the demographic of Jaded’s target consumers I created a profile for the customer regarding their interests, occupation and general lifestyle. From the perceptual map, I looked into the brands main competitors and positioned them in the market, I went on to reposition them in a new map taking into account the changes the brand would have to undergo to reach this new market position.
History Jaded an ecommerce Brand established 2013 by two siblings Jade and Grant Goulden. Jade quit her job as a buyer for ASOS to start her own business, her brother had just graduated University and focuses on the menswear side of the brand. Their family have worked in the fashion industry for three generations providing them with a good understanding of the industry. They noticed a gap in the market for affordable streetwear which focusing on bold and outrageous designs that appeal to a mass market. Celebrities such as BeyoncĂŠ and Taylor Swift have been seen wearing Jaded which has helped their marketing considerably.
The Brand Identity Jaded London is a brand for the bold, daring and expressive. They offer affordable yet high quality streetwear for both men and women style pioneers. Jaded London is stocked in major retailers such as Topshop, Selfridges, Urban Outfitters and Asos, with Jaded Man sold in Topman and River Island, and both are available via their own e-commerce that trades in five currencies.
Jaded have a large social media following allowing them direct access to their target market to keep them up-to-date with the latest collections and deals. They offer a range of garments from brightly patterned tracksuits to sparkling festival co-ords, they bring out incredible seasonal lines providing new and exciting designs that wouldn’t be found on the high street. The Jaded style is one for people who aren’t afraid to express their personality through fashion. Jaded is a relatively new brand to the market yet is incredibly popular with celebrities such as BeyoncÊ and Taylor Swift having been seen in Jaded its got a promising future ahead.
Brand Identity Prism Picture of Sender
Relationship
Reflection
Long Lasting Statement Outrageous Adventurous
Creative Unique Daring
Affordable to target consumer Durable Quality Visually Pleasing
Fashionable Youthful Wild
Personality
Liberation British Individuality Bold Contemporary
Culture
Self-Image For bold creative people Trendy and cool
On trend Stylish Individual Bold Rebellious Modern
Picture of Receiver
Internalization
Externalization
Physique
Market Position
Positioning Statement: Jaded sits above the high street sector but below luxury standard, this sector is growing as the target consumer are going away from fast fashion and are looking for high quality garments that are longer lasting as people are becoming more sustainably aware. They are willing to pay a more premium price for more statement durable. With a strong Instagram following of 236K the brand utilises the platform as their main source of marketing. Looking at other competitors in Jaded’s sector the brand is not as well known as brands such as Stussy but this is due to the fact they haven’t been around for as long, but at the current growth rate they will become more established soon.
Perceptual Map
Positioning Statement: Jaded sits above the high street sector but below luxury standard, this sector is growing as the target consumer are going away from fast fashion and are looking for high quality garments that are longer lasting as people are becoming more sustainably aware. They are willing to pay a more premium price for more statement durable. Looking at other competitors in Jaded’s sector the brand is not as well known as brands such as Stussy but this is due to the fact they haven’t been around for as long, but at the current growth rate they will become more established soon.
Brand onion Essence Online fashion Brand For bold 18-35 year old's with an interest in streetwear
Values
One-of-a-kind Accessible Unique Bold Self Expression Individuality
Personality
Stylish Outrageous Loud Artistic Rebellious Inspiring Contemporary
Brand in Actions
Pop-up Shops Brand Promoting Events Specific target customer Seasonal Collections (Halloween & Festival Style)
Mission Statement We are here to dress the bold and daring, to allow self expression through affordable yet durable clothes. Offering a fun alternative to high street fashion, something that will last and allow you to stand out from the crowd, turn heads and feel fantastic. We aim to make dressing exciting and reach out to many markets around the world to spread our unique style, to turn heads and create a talking point.
Slogan ideas: Dare to be Bold Be Outrageous Be You Turn Heads
Jaded Instagram Tagged
Customer Profile Age: 18-35 Gender: Male & Female Income: Mid-level income, ÂŁ100-ÂŁ500 Disposable income available for clothes
Occupation: Student, Creative Lives: London/Major City, Rented flat/parents property Interests: Strong Interest in streetwear, Y2k fashion, contemporary
music, art and film photography. Loves socializing with friends and attending gigs and festivals. Are big social media users predominately Instagram , they are not afraid to show off their personality through their style.
Psychographics: Jaded customers are cool, stylish and enjoy partying and having a good time in style, they are bold in what they wear as well as the way they act. The jaded customer enjoys travelling to trendy locations such as Ibiza, New York as well as festivals such as Outlook, Boomtown and Lovebox. They take a lot of pride in their appearance and may work out and eat healthy to stay in shape. Jaded being an online store suits their target consumers busy lifestyle as well as being easily accessed on social media creating a quick and stress free shopping experience. The Jaded customer follows a lot of influencers, celebs and artists online and look up to their styles, therefore seeing their idols wearing Jaded will encourage them to shop there. Jaded customers may find items they desire and save up for them rather than spending their money at high street stores on cheaper and more basic items.
Competition Jaded London’s main competitors are other affordable streetwear brands that focus on creating an alternative to the basic high street looks. The competitors may utilize similar marketing methods such as social media and micro-influencers to create brand awareness therefore it is vital for Jaded to develop their own style, USP to stand out from their competitors. Jaded have embraced some of their competition by having collaborations e.g. Buffalo shoes which allowed them to reach a larger market and create a good relationship with the brand which may benefit them in the future. The Ragged Priest, Lazy Oaf and Dolls Kill are three of their main competitors as they have the same target consumer and outlandish style of garment. In order to remain competitive and gain a market advantage Jaded must be able to understand their consumer desires and create a product before their competitors. The Ragged Priest and Lazy Oaf both have physical stores in London which may give them an advantage and allow them to reach a wider audience who don’t shop online so this could be an area Jaded could develop by investing in a physical store.
PESTLE Political: •
•
Economic: •
Social:
Foreign exchange rates may • affect Jaded as they sell to a mass market in many different countries so the different currencies will affect the value • of each item
The political uncertainty surrounding Brexit may affect Jaded’s trading in the EU where a • Inflation may affect the price of Jaded’s items as they may raise great deal of Jaded’s customers prices alongside inflation in order are. to avoid a loss. Trade Tariffs may affect Jaded due to them being exclusively ecommerce as if tariffs are raised Legal: it may lead to them needed to • Any trade barriers in foreign markets charge more for postage which may affect Jaded as they aim to grow could deter some customers. into more markets and grow globally. • Jaded alike any other brands must conform to consumer laws as well as health and safety standards in order to continue within the guidelines
Technological:
Social trends are very important • for Jaded to follow as they need to know what people want in order to create products that will sell. Seasonal behaviors are crucial for Jaded as for celebrations such as • Halloween and Christmas they create an entire range which is a profitable time for them therefore important their collection is on trend
With the growth of online usage it is important for Jaded to remain relevant by making sure their website is easy to navigate and up to date. Continuous updates online and on social media with new features like the Instagram shopping element only makes the customer journey easier, Jaded must be aware of any new features to keep business Environmental: up. • With climate change becoming increasingly more topical Jaded must work to become a more sustainable brand in order to avid loss of business as some customers may be deterred from shopping somewhere that is environmentally unaware. • Jaded has a fast turnaround of clothing so they must be careful not to become known as fast fashion as customers feel less obliged to shop from fast fashion brands.
SWOT Strengths: Weaknesses: Opportunities: Threats: • Strong Social media presence, • • • • • •
No physical store, online store • Collaborations with similar brands • Threats of competitors Instagram following of 37.2k may be missing out of business will allow them to raise brand creating similar cheaper Active on social media providing for consumers who like to shop awareness and reach a larger products daily posts and stories in physical stores consumer range. • Global online competition, Affordable to target market • Lack of ethical awareness • Could develop a more many stores offering similar Unique garment style • Could be classed as fast fashion environmentally friendly ethos to products thus it’s important to Strong inclusivity ethos due to the fast turnaround of appeal to sustainable shoppers remain relevant. Up to date with trends collections • Sale of small boutique brands • Brexit making European online to widen the product range trading complicated
Brand Repositioning To reposition Jaded increasing the quality of the clothes with a focus on sustainable manufacture would lead to them raising the price of the garments. With the higher priced garments as well as the increased quality they would shift position in the market changing major competitors with to be competing with higher end brands such as Fiorucci, Calvin Klein and Palm Angels. “We have sourced new more sustainable fabrics and are working on new exciting prints.” -Jade Goulden, Owner
“Our main focus is growing our online platform as it allows us to sell worldwide and target a much larger demographic.”