Arcadia owns a number of other well-known retail outlets including Burton, Dorothy Perkins, Miss Selfridge and Wallis.
Topshop andDowntown Boston A Statistical Analysis of the prospect of opening a Topshop retail store in downtown Boston.
What is Topshop? Topshop is a chain of retail clothing stores Mainly known for its women's clothing Operates in more than 20 countries. Separate men’s store called Topman that was created in the late 1970s Owned by Arcadia Group Its primary sales come from clothing and fashion accessories Also produces significant online sales .
What we need to know. More about consumer purchase decision If there is significant demand for a Topshop retail store in downtown Boston How local consumers feel about European fashion and products How the current consumer market feels about shopping on a personal level Where do current consumers shop? How consumers feel about Topshop coming to Boston
Presentation Points…Significant Results Purchase Decisions Style Celebrity Endorsement Popularity European Roots Interesting Correlations in Participants’ Responses regarding Purchase Decisions Style and Celebrity Endorsement Style and Topshop Support Celebrity Endorsement and Popularity Consumer Behaviors/Attitudes Clothes and Social Status Topshop Support G
What we did. Methodology… 4 page Questionnaire (56 variables) Distributed to 27 participants Ranged in age from 18-24 Emerson College taking Paul Hackett’s courses Downside We only tested a small sample that did not represent the actual market population
Purchase Decisions Style Celebrity Endorsement Popularity European Roots
Style as a Factor in Making a Purchase Decision The majority of participants either agreed or strongly agreed that style was an important factor when making a purchase decision Only a small percentage of participants disagree that style is important
Celebrity Endorsement as a Factor in Making a Purchase Decision Majority of participants expressed that celebrity endorsement was not important in making a purchase decision Marketing to Boston consumers means little or no celebrity endorsement
Popularity as a Factor in Making a Purchase Decision 78% of participants either agreed or were neutral when prompted about popularity Only 19% of participants disagreed that popularity was a factor in making a purchase decision
European Roots as a Factor in Making A Purchase Decision No participants disagree that European roots are not a factor in making a purchase Majority of participants agreed that European Roots are a factor in making a purchase
Interesting Correlations in Participants’ Responses regarding Purchase Decisions Style and Celebrity Endorsement Style and Topshop Support Celebrity Endorsement and Popularity
Correlation between Style and Celebrity Endorsement Majority of participants who either are Style advocates or are neutral on the subject think celebrity endorsement is not important Only 11% of participants thought celebrity endorsement was important AND agreed that style is important Despite the target market being style advocates, it appears celebrity endorsement is not necessary to market to people who agree with style
Correlations between Style and Topshop Support from Participants Strong correlation between agreement in style and positive opinions towards bringing Topshop to Boston The majority of those who did not think Topshop would work in the Boston, also did not agree that style is important in making a purchase decision There were some participants who did not agree with style but said Topshop would work, as there were those who did agree with style that did not think it would work
Correlation Between Celebrity Endorsement and Popularity The majority of participants who found celebrity endorsement neutral or unimportant also found popularity to be a moderately important factor in making a purchase decision Celebrity Endorsement and Popularity are both relatively useless as marketing strategies in the current market based on statistical data. …But data is inaccurate. Bottom Line
Consumer Behavior/Attitudes Clothes and Social Status Topshop Support
Do you think Topshop will be good in Boston? 48% of participants answered yes, with 26% both no and undecided. There are some interesting correlations between other variables and this one
Clothes as Signs of Social Status 82% of participants responded that clothes represent social status some of the time or definitely do (all the time) 18% responded either does not or definitely does not This information may be valuable for marketing purposes regarding how to position Topshop as a brand in the current consumer market It would mean that Topshop would have to be seen as clothes that do not represent status in order to appeal to a wider audience of potential consumers