Competitive Marketplace Analysis
Product For Spring 2013 we will be buying Men’s Small Leather Goods and Accessories, which includes the following items: • Scarves • Tech Accessories • Backpacks • Men’s Clutches • Messenger Bags • Briefcases • Travel totes • Hats • Socks • Ties / bow-ties • Belts • Wallets • Tie clips / Cuff links
Culture Shock The man in the latest trends, that loves to play with pattern and print. His style is globally influenced with an eclectic mix of high fashion sophistication and cultural innovation. He enjoys living in the city and travel.
Utilitarian This man is looking for pieces that are useful and practical. He wants to make the most of his wardrobe and prefers items that are functional over trendy. He loves neutrals and industrial items. Heâ€™s an on the go type of man that needs utility pieces that suit his taste.
Urban Rocker The free minded fashion spirit who expresses his love for music and everything rock through his clothing. He likes dark hues and accents his looks with harsh accessories. His leisure is spent at hip local bars and hangouts.
High Street This man is the ultimate business man that likes to make an bold statement. He likes to mix classic, vintage pieces with his modern wardrobe. His main uniform is a bold tailored suit, with an sometimes relaxed appeal to fit his life style.
This man favors functionality the most. His wardrobe is filled with interchangeable pieces that heâ€™ll be able to wear and accessorize for years to come. He lives an relaxed lifestyle and like his wardrobe to reflect just that. He purchases items when he needs them, rather than when he wants them.
Gemmed tech accessories
The new breifcase
The man clutch
s.w.o.t Strengths • • • • •
Men’s accessories have a longer shelf live and the trends stay in style longer. Men are becoming more conscientious about fashion and lux- ury accessories. Bergdorf ’s is expanding their men’s store Leading luxury retailer in men’s assortments Slow shopping experience
Weaknesses • The men’s department is still under construction.
analysis Opportunities • Accessories market is booming • Men’s fashion is becoming more prominent • Men are starting to care more about fashion and what their wardrobe • The expansion of the men’s department will provide more selling space for men’s accessories.
Threats E‐commerce competitors can offer the same product online. New business retail models are developing.
The Next generation of Men’s store... When Schulman joined Bergdorf ’s two years ago, he brainstormed with the team “on what the next generation of men’s store should be. We have some of the most powerful retail real estate in the world, on Fifth Avenue between Apple and Louis Vuitton. So we looked at the mix of product and worked to keep the extraordinary taste level that has defined Bergdorf Goodman but make it more relevant to a younger customer.” The challenge, he said, was to “harness the power of our sartorial heritage and blend it to meet the changing needs of today’s modern consumer.” Schulman declined to provide a dollar figure for the cost of the renovation but noted, “There’s a lot of growth within these four walls. We have a very powerful stand-alone business and, by investing in capital, people and marketing, we have a significant opportunity.” – WWD
Current Menâ€™s Store