Merchandising Plan Project Jenni Liinavuori Fashion Marketing & Communication, Level 6, 2016/2017 Marketing Techniques & Strategy Merchandising Plan Project Alejandro Gonzรกlez
FIGURE 1: TOPSHOP XMAS DENIM
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CONTENTS BRAND SELECTION P.5 BRAND ANALYSIS P.6 -BRAND BACKGROUND P.7 -STORE ANALYSIS P.8 -COLLECTION ANALYSIS P.16 THE COLLECTION STRATEGY P.22 -THE -THE -THE -THE
COLLECTION DEVELOPMENT P.23 PRICE STRATEGY P.29 BUDGET P.31 COLLECTION BOOK P.37
BIBLIOGRAPHY P.40 3
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FIGURE 2: TOPSHOP FW16
BRAND SELECTION The merchandising plan project will be made for a British fashion brand Topshop. I decided to choose Topshop for this project because I think the brand’s store and its assortment here in Barcelona is not really the same level when compared to the brands other stores around the world and it needs some development. I believe that because I am already familiar with the brand and have visited their other stores before gives me a good start and insights for this project. As said before I think the store in Barcelona and the brand itself should make some changes in the Spanish market and I feel that would be really interesting to do for this project. What makes this project challenging is the fact that Topshop has only four stores in Spain, so the information for this projects research and analysis was gathered only from the Barcelona store.
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BRAND A N A LY S I S 6 FIGURE 3: TOPSHOP FW16
BRAND BACKGROUND Topshop is known for keeping up Topshop is a global fashion retail- with the new trends which also can be seen on the pace they launch new er, founded in 1964. With their products on their e-shop. As Toptrendy and moderately priced designs Topshop has become one of the shop declares their brand on Topleading fashion brands not only in shop’s Facebook page: ‘’An attitude that is accessible to all and a the UK but international market. promise always to be the first with Topshop has 670 stores and franchises over 40 countries around the new trends has won Topshop a legion of loyal fans and truly placed it world which over 300 stores are on the international style map.’’ located in UK. Topshop’s infamous flagship store in Oxford Street Topshop tries to approach fashLondon has 100,00 square feet retail space with five floors and has ion-conscious shoppers and their fashion footprint vision has influover 400, 000 visitors per week. Their e-commerce site has an aver- enced their vision statement which age of over 4.5 million weekly vis- goes following: ‘’to produce fashitors. The website launches around ionable products in an ethical way 300-400 new products each week and and demonstrate a responsible attitude towards people and the enviships to 110 countries worldwide. ronment’’. (topshop.com) (businessoffashion.com, 2017) Topshop is also known of its special in-house designed collections Unique which is showcased every year in the London Fashion Week. Topshop is the only high street brand to show their collection in the London Fashion Week. The fashion brand has also made different collaborations with famous and iconic names like Kate Moss and Kendall and Kylie Jenner, which has also helped the brand make its way as one of the leaders of fashion. (businessoffashion.com, 2017)
Topshop’s mission statement is: “Topshop is all about refusing to be pigeonholed. Each customer is an individual and relies on the brand to deliver everything from basics to cutting-edge trends. It’s the brand spectrum of ever-changing co lections that keep Topshop ahead of the style game.” (jpaulemon.wordpress.com, 2010)
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FIGURE 4: TOPSHOP FW16
STORE ANALYSIS Topshop has 670 stores over 40 countries. Inside Spain Topshop has four own stores, in Barcelona, Madrid, Granada and Malaga. (topshop. com) Store analysis for this project was made from the Barcelona store (own store cluster) where I conducted a visit and collected insights for the project. Before the visit I prepared research questions which were filled within the store visit. Research questions: o What stores are you visiting? And why? o What is the first impression when you walk in the store? o How is the space managed? o Does the space reflect the brand? o How many different collection lines they have? o How is the layout of the different collection lines? Is it coherent with the brand? o How is the quality of the garments? o Does the different lines have different quality standards? o What fabrics they are using? o Are you able to buy a complete look? o Is the collection well developed or does it has something to improve? o Would you add a line to the collection or widen already existing one? o Is the collection up to date or should be more trendy/updated into to day? o Is the store well assorted? Do they offer many different sizes? o What is the retail price structure? Is it coherent with the brands customer base?
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What stores are you visiting? And why? I conducted a visit in the Barcelona store, situated close to Placa Catalynia in Carrer de Bergara. I had to make a visit in this store because it is the only one situated in Barcelona. Topshop has three other stores in Spain, in Malaga, Granada and Madrid which I was unable to make a visit.
which made it harder to move inside the store. This problem can be seen on the first floor also elsewhere, not only around the sale racks. The second floor is more spacious and looks more organized. In general the first impression of the store is very clean and organized and that they have a big assortment of different products for
What is the first impression when you walk in the store? The first thing the customer can see while entering to the store are the sale racks which were displayed on the entrance. All the sale racks were assorted in a way that jeans and pants had their own racks as well as tops and other shirts, also the jackets on sale had own displayed corner. The sale racks didn’t have a lot of space between them
every shopper.
to have all the products in place. The store has a big variety of their products but dues to the size of the store some of the products are more stuffed together, which does not look that appealing to the shopper’s eye. Does the space reflect the brand?
Considering the cleanliness of the store in Barcelona I think the space is performing above normal standards of FIGURE BY AUTHOR Topshop. The space and location does
How is the space managed?
not reflect the brand as much, due to the fact that the store is relatively small. And like noted before, for example, the first floor of the store has a lot of limitations due to the size which also has lead to having little space
Like noted before the store is really clean and all the products are more or less on their right places. It was notable that the store had enough staff in order to maintain the space clean and 9
between the racks and shelves as well as for some of the products as well. Topman, which provides fashion for men has usually their own stores but the Barcelona one provides a small area inside the Topshop for the Topman products. The space and its location does not reflect the brand in its best possible way. The brand should have bigger store and also have their own store for the Topman brand. The location of the Topshop’s store in Barcelona also does not reflect the brand as much. Usually Topshop’s stores are located on the best shopping spots and though the store is right in the center of Barcelona the store is actually quite on the sidelines from the bigger shopping streets of Barcelona. Because of the location of the store Topshop is missing a lot of potential clients, especially the tourist shoppers who most of them doesn’t even find on the
street where Topshop is located. How many different collection lines they have? Topshop has their regular collection for women, petite collection, Limited Edition collection, as well as the ‘’design’’ collections Boutique and Unique. Both the Boutique and Unique are are more expensive, better quality and more unique like the other collection’s name tells itself. The Boutique collection offers designs with a cheaper price tag compared to the Unique collection but it is still little bit more expensive and limited than the regular collection for women. The Unique collection is in the premium/luxury category which is made for the upper class customers. Both of these two collections, Boutique and Unique, weren’t offered in the store in Barcelona. Also from the Limited Edition collection the store had only one
garment, which were pair of jeans with a price tag of 170 euros. The store was also selling Ivy Park’s collection which is an active-wear label co-founded by Beyoncé. From these mentioned collections the store was offering their normal collection for women, Petite, Ivy Park and Topmen as well as providing one product from the Limited Edition collection, making it to total of five
areas inside the store. The women’s spring/summer collection was all around the store but it was also divided into different segments. For example the basic wear had their own displayed space, same for workwear, jeans, other denim wear, shoes and accessories. The jeans from the Limited Edition collection were mixed with the normal products that suited with the style. Ivy Park’s collection and Petite collection had own segments in the store which were presented to the customers with big signs with the name of the collection line. The layouts of the different collection lines were mostly coherent with the brand except the Ivy Park’s collections presentation. One of the store windows was informing the customers that they have the collection
FIGURE BY AUTHOR collections. How is the layout of the different collection lines? Is it coherent with the brand? All the different collection lines had their own 10
now in the store. When entered to the store the space for the collection was relatively small and was not much emphasized and did not look appealing. Topshop is known from its collaborations with different icons and influencers and they usually put a lot of effort in these collaborations, which did not really show the Barcelona store.
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How is the quality of the garments?
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When compared to other similar highstreet fashion brands and competitors the quality of Topshop’s garments from the normal collection is slightly better, which also can be seen on the higher prices. The garments from the Limited Edition collection looks to be quite on the same quality level with the normal garments but because of the exclusiveness and details they are more expensive. Does the different lines have different quality standards?
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The two design collections Boutique and Unique, which weren’t available in the Barcelona store I visited, are both following better quality standards by using better materials and 11
having better finishing than the normal garments. What materials they are using? The mainline collection and Limited Edition collection uses mostly materials like cotton, polyester, nylon, viscose, wool, leather and elastane. Most of the materials used for Unique and Boutique collections are higher in quality and value, for example using materials like silk, wool, leather, cashmere, cotton, and small percentages of polyester, elastane and viscose are used and usually mixed with other quality materials. Are you able to buy a complete look? The store offers all the necessary elements in order to build a complete look from head to toe. Mannequins and pictures of models wearing different looks are used
for helping and inspiring the customers to create their own looks. Furthermore some of the products are displayed with other products that are matching together.
and offer their design collections Boutique or Unique as well as have more products from the Limited Edition collection.
could be also sold in Santa Eulalia (a luxury department store in Barcelona) which would fit for Topshop’s strategy since their Boutique collection, for example, is sold in Nordstrom. (shop. nordstrom.com, 2017) Is the collection up to date or should be more trendy/updated into today? The collection is accurate with the current trends, for example with pastel and metallic colours, details and statement elements like embroidery, flowers and destruction plays big part as well as the shapes and silhouette which are either very loose or tailored, these two silhouettes are also often mixed together creating a certain kind of balance to the look. Trousers are mostly wide leg, jeans selection though offers models from skinny to mom jeans. As ethical matters and sus-
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Is the collection well developed or does it has something to improve?
Would you add a line to the collection or widen already existing one?
The mainline collection is well developed, it is following the current trends, offers the customers to create complete looks for different occasions from casual wear, workwear, active-wear as well as party wear. Topshop though could improve
Because the store was offering only one product from the Limited Edition collection I would either widen the Limited Edition collections selection in the store or add the Boutique collection to the stores selection. Both of these collections 12
tainability is now a big trend in fashion (sometimes also referred as green washing), it was also notable that Topshop is trying to communicate to their customers about their fashion footprint vision, which is Topshop trying to produce their products ethically and ‘’locally’’. This was seen in some products that had a little tag saying: ‘’ made in Britain’’.
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Is the store well assorted? Do they offer many different sizes? The store is well assorted for the mainline collection, offering the petite collection also is a good factor. The store though is missing the Boutique and Unique collections. Furthermore the store should have more Limited Edition pieces as well. The mainline collection offers sizes from 34 to 40. The store was offering slightly more garments in sizes 36 and 38 but usually sizes 34 and 40 were also found though in a smaller scale. Petite collection then again was more focused on the smaller sizes. What is the retail price structure? Is it coherent with the brands customer base?
petitors like Zara’s or H&M’s. They are coherent with the young and trendy, quality conscious customers.
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The prices of the main collection are affordable but little bit higher than for example com13
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COLLECTION ANALYSIS The information used for the collection analysis was also gathered from the store visit made in the Barcelona store. The collection analysis is examining the collection references, colour structures of the different collections as well as the price structures. Furthermore the collection analysis will include examining who Topshop is targeting with these collections available in the Barcelona store and investigating if the collections are coherent with the market target.
16 FIGURE 5: TOPSHOP MOTO PINK SKIRT
REFERENCES
Women Mainline References
Petite References 3%
6%
10 %
Dresses
10 %
Tops
13 %
Jeans
2%
Jackets & Coats
7%
Jackets Shorts Skirts 15 %
Skirts
32 %
Trousers & Leggings Playsuits & Jumpsuits
Knitwear
5%
Tops Jeans
Shorts
4%
22 %
9%
Denim
22 %
2%
Dresses
Trousers & Leggings Swimwear & Beachwear
5%
Playsuits & Jumpsuits
10 %
Footwear
8% 8%
5%
The reference study shows that tops have the biggest selection in all of the collection lines; Mainline, Petite and Ivy Park. It does not surprise that the Mainline has the biggest selection of garments, but it was also interesting to see how much the store was focused on offering so many products from the Petite collection. Both the Mainline and the Petite collections had similar collection structures, focusing on dresses, tops and jeans, which is also coherent with the current season. Ivy Park did not have as big selection compared to the two above, which is explained on the fact that the collection is focusing only on active wear. For the conclusion the collection structures looks accurate and well developed.
Accessories
2%
Ivy Park References
24 % Tops Sport Bras
3% 8%
Jackets 65 %
Leggings
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COLOUR STRUCTURE
Ivy Park Colour Chart
Mainline Women Colour Chart Black
Camel
Blue
Cream
Green
Grey
Metallic
Nude
Orange
Pink
Purple
Red
White
Yellow
6%
Multi
14 % 2%
2%
7%
17 %
7% 4%
39 %
4%
1%
13 % 26 %
1%
22 %
2%
Black
2% 6% 3%
2%
8%
5%
Petite Colour Chart Black
Brown
Blue
Cream
Green
Grey
Metallic
Multi
Nude
Pink
Purple
Red
White
Yellow
6%
1%
4%
24 %
6% 10 %
2% 3% 6% 20 %
3% 8%
5%
2%
Blue
Cream
Grey
Multi
7% Pink
Red
White
Black, blue and pink are leading colours in the Mainline and Petite collections. The big selection of blue is explained with the jeans campaign Topshop is currently doing but also its current trendiness factor. (stylecaster.com, 2017) Ivy Park is using more basic colours but also has many pink products. Pink is still highly popular and trendy in this season, which also explains why it is so used in all of the collections. (en.vogue. fr, 2017) In prints, flowers were used a lot as well as stripes and gingham squares in the Mainline and Petite collections. Flowers and different kind of stripes are also big trends in this season. Yellow was the least used colour which is interesting since yellow is very trendy during this season and was seen a lot on the runways for the spring/summer collections. (en.vogue.fr, 2017) The colour structures in the three collections are pretty accurate but some development could be done, for example using more colours like yellow and orange. 18
PRICE STRUCTURE
Women mainline 8-29 €
32-65 €
68-155 €
16 %
Ivy Park
Petite 8-29 €
32-65 €
68-170 €
5-29 €
30-60 €
60-98 €
6%
12 %
24 %
27 %
42 %
57 %
52 %
64 %
Topshop’s price structure consists from three different price levels. These three levels are low price, medium price and high price and are defined in terms of quality, cost, trendiness and exclusiveness. The goods on the low price level are usually the basics jerseys, underwear, leggings and some accessories. The medium price level is the most important price level for Topshop’s market, carrying over 50 percent in all of the collection lines. The medium priced products accounts more of the mainstream products. The high price level represents exclusiveness and better quality products. The mainline carries 27%, Petite 12% and Ivy Park 6% on the higher priced products. By combining these three different price levels Topshop can attract a wider market. Topshop though could attract even wider audience by offering more of their premium goods in the Barcelona market, for example from the Limited Edition collection, Boutique or Unique. 19
MARKET TARGETING
After visiting the store and concluding both the store and collection analysis, the conclusion is that Topshop is targeting, approximately 16 to 30 years old young women. Judging from the products, focusing mostly on the middle price level, which these consumers can afford. Also taking into account their choice of retail space right in the center, close to other brands that has similar target. As well as thinking about how Topshop communicates itself to the market audience. For example, using models on their campaigns that are popular and has an influence over the main target at the moment. Also noting that the store in Barcelona has a big range of products from the Petite collection, which are mostly targeted for the young and small sized consumers. The market Topshop is targeting with this current strategy are either students or working, coming from middle or upper middle class. They live in urban settings and enjoy doing different activities on their free time, like going to concerts, museums, movies, going to bars and clubs, travelling and spending quality time with their friends. They look for the trendiest products and they also want to show their new ‘’cool’’ garments to others, for example, posting their outfits on social media like Instagram, which also helps the brand to achieve its audience. They want to express themselves and their identities, especially with their clothing.
FIGURE 6: TOPSHOP TARGET
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FIGURE 7: PRIMAVERA SOUND FIGURE 8: TARGET
FIGURE 9: SATANS COFFEE CORNER
FIGURE 11: MACBA
FIGURE 10: TARGET
FIGURE 12: SALA MONTJUIC 21
THE COLLECTION STRATEGY FIGURE 13: TOPSHOP BOUTIQUE
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THE COLLECTION DEVELOPMENT After conducting the visit and analysis I came to the solution to widen the Topshop’s collection lines offered in the market. This strategy will include widening the Limited Edition collection line in the Topshop’s own store, as well as bringing the Unique collection to Santa Eulalia. Santa Eulalia is a luxury department store in Barcelona with a long heritage, founded in 1843. (santaeulalia.com) I decided to choose Santa Eulalia for their additional cluster because it fits better with the customer base, due to the premium/luxury prices the Unique collection has. This strategy will create a wider customer approach in the market. The store would not focus only on the mainstream medium level priced products but also on the premium products from the Limited Edition, which has made Topshop considered less as a fast fashion brand and actually more of a high street brand.
23 FIGURE 14: TOPSHOP BOUTIQUE
COLLECTION LINES
No new collection lines will be created for this strategy, but the Limited Edition collection line will be widened. Like stated before, the Limited Edition collection will be sold in the Topshop’s own store having own little area inside the store, in order to create more knowledge about the collection as well as gain the customers attention and interest. The Unique collection will have a corner in Santa Eulalia. The selection of Unique collection will take into account the climate in Barcelona as well as the biggest current trends. Because the Mainline for women did not really need development I decided to focus on these two collection lines for the collection strategy. Because the Limited Edition collection is very similar with the Mainline I will bring products/styles that I felt were missing in the store I visited into the Limited Edition collections assortment.
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TARGETING STRATEGY
Within the new strategy, Topshop’s targeting market will become wider. The new target segment will be women aged between 20-35 years old, who come from upper middle or upper class, meaning they can afford to buy the premium/luxury priced products. They either come from wealthy families or they are independent women and professionally successful. They look for trendy products but also value uniqueness and quality. They like to mix their style and use high quality luxury brands with more affordable pieces. They like to show their status, uniqueness and express themselves to others but avoid using garments with big logos etc. Style and quality means more than just the brand label. They are interested in fashion, music, art and travelling. They are quality and trend conscious shoppers but are also interested in the ethical side of fashion and they want to know in what circumstances their clothes were made.
25 FIGURE 15: TOPSHOP TARGET
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The delivery plan chart above shows which collections will be send to the own store and which to the Santa Eulalia’s selling corner. Products from the mainline collection will be sent to the store every week which will be approximately 300-400 new products every week. Products from the Petite collection will be send every month and Ivy Park every other month. The Limited Edition collection will be also send to the own store. New products will be delivered every month, either once or twice per month. The Unique collection, which will be delivered to the Santa Eulalia’s corner will have new products every month. In January, April and June new products will be delivered twice a month which are all seasonal turning points.
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THE PRICE STRATEGY The pricing strategy will be very much similar but a new price level will be added to the current pricing level structure. As stated before the current pricing structure is divided into three different levels; low, medium and high. The new price level will be called premium price level. Most of the products from the Limited Edition collection will be in the high price level, some of the products can account the premium price level. The premium price level accounts all the garments from the Unique collection. The premium price level will start from products priced from 170 € and up. This will mean that Topshop will shift their focus also on the premium products, not only on the mainstream ones from the medium price level.
Price Structure
14 %
8%
23 %
55 %
8-29 € 29
32-65 €
68-170 €
170 +
30
31
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SALES FORECAST According to a Spanish market study, made by JLL, the premium market segment carries 28% of the Spanish market and 25% of Barcelona’s market. Mainstream market leads the Spanish market retail market covering over half of it. The sales are forecasted to grow 5% during the years 2014-2018 as also demand of new retailers. Tourism has been continued to grow after the year 2014 which will continue to have good effect on sales. Also positive changes for the population’s spending has been predicted since the economic situation after the crisis has been started to grow and unemployment began to get lower. (JLL, 2015)
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THE COLLECTION BOOK
The collection book is made for the Topshop’s Limited Edition collection which is perfect for Topshop’s customers who want to show their individuality and aren’t afraid to take risks with their dressing by wearing unique and interesting pieces. Current trends are taken into account from the runway as well as from streetstyle.
37 FIGURE 19: RODARTE SS17
COLLECTION’S INSPIRATION
K N PU T I R I SP
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KEY WORDS
INSPIRATION
SILHOUETTE
FABRICS/MATERIALS
COLOURS
TRANSPARENT DESTRUCTION PATCHED SOPHISTICATED STATEMENT
LOOSE TAILORED
LEATHER LACE STUDS SAFETY PINS CHAINS
RED BLACK YELLOW WHITE
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English, V. (2017). Spring/Summer 2017 trends. [online] Vogue English. Available at: http://en.vogue. fr/fashion/fashion-inspiration/diaporama/pe2017spring-summer-2017-trends/37812#tendances-mode-printemps-ete-2017-rose [Accessed 26 Mar. 2017].
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Figure 9. (n.d.). [image] Available at: https:// fi.pinterest.com/pin/122723158574828114/ [Accessed 28 Mar. 2017]. 41
Figure 21. (2017). [image] Available at: http://www. theblondesalad.com/fashion/trends/fall-winter-20162017-trend-punk-jewelry.html#gallery-slideshow-8 [Accessed 28 Mar. 2017]. Figure 22-23. (2017). [image] Available at: http:// www.theblondesalad.com/fashion/trends/accessory-belt-chain-punk.html#gallery-vertical-6 [Accessed 28 Mar. 2017]. Figure 24. (2017). [image] Available at: http://www. theblondesalad.com/fashion/trends/fall-winter-20162017-trend-punk-jewelry.html#gallery-slideshow-8 [Accessed 28 Mar. 2017]. Figure 25. (2017). [image] Available at: http:// www.vogue.co.uk/shows/spring-summer-2017-ready-towear/coach/collection/#6DJrrdVJJgE [Accessed 28 Mar. 2017]. Figure 26. (2017). [image] Available at: http://www. theblondesalad.com/fashion/trends/fall-winter-20162017-trend-punk-jewelry.html#gallery-slideshow-8 [Accessed 28 Mar. 2017]. Figure 27-28. (2017). [image] Available at: http:// www.vogue.co.uk/shows/spring-summer-2017-ready-towear/coach/collection/#6DJrrdVJJgE [Accessed 28 Mar. 2017]. Figure 29. (2017). [image] Available at: https:// fi.pinterest.com/pin/427771664589950233/ [Accessed 28 Mar. 2017].
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