CONSUMER BEHAVIOR FINAL PROJECT By Bethany Richard
P RO D U C T: P L U S - S I Z E L I N E BRAND: H&M (HENNES AND MAURITZ) Description: Affordable, stylish, sophisticated fashion inextended sizes made easily accessible. Key Benefits: High-Street Fashion (runway trends adapted for thestreets) “Cheap Chic” Easy Access, in stores year-round
COMPANY PROFILE: H&M H&M lives by its business concept: “Fashion and quality at the best price.” “One of the first to challenge the retail clothing sector bydelivering fast fashion at low prices.” Offers different concepts for men, women, teenagers andchildren, and includes everything from modern basics to highfashion.
H&M:Combines “cool, organized efficiency” with highfashion vibes.“They have combined good basics with hot-off-the-catwalk designs which keep people talking- all atlow prices."
SECTOR OVERVIEW"To be successful in the world of high-streetfashion, you need to be efficient. The key for the mass-market, low-priced clothing labels is to have the seasonsmust-have in a store faster and cheaper than anyoneelse.” –Innovation LeadersH&M has mastered this concept.
MARKET:Ladies Fashion: 60% of women fall into the basic size category 15 % are considered petite Meanwhile, you still have the 25% who are plus- size…
STRENGTHS Brand Awareness Brand Loyalty Size and Growth Affordable chic for a greater audience. • H&M caters to both men and women of every age, adding extended sizes only makes sense.
WEAKNESSES Zero E-commerce. Buys in large volumes, which cannot all be expected to sell • This means sale items are slashing the cost of already low-priced items. Wide range of customers • This means lack of a target audience to focus efforts on.
COMPETITORS Popular chains that also provide extended sizes for plus-sizeladies: Old Navy, Forever 21, Major Dept. Stores Ladies plus-size specific retailers Lane Bryant, Torrid, Avenue Online boutiques that offer similar style options for plus-sizewomen
THREATS AND CHALLENGES H&M isn’t known to cater to these women.Fashion Stereotypes: • “Fat is not fashionable.” • “Promoting obesity.”
OPPORTUNITIES While stores like Forever 21 carry trendy pieces for plus-sizewomen, the styles can often be too “youthful” or even tacky. Lane Bryant offers more sophisticated options, but designs tend toget “frumpy, dowdy, and bland.” These options are not resonating with all women.
OPPORTUNITIES H&M has the ability to meet them halfway with its plus-size line. Offering chic options at a place, not a website. • Online shopping may provide convenience for consumers, but… Women will have the ability to go to a physical store. • See the products in person • Try the only on to assure proper fit
OPPORTUNITIES Identifying need for plus-size fashion Marketing Advantage in a Saturated Industry Increase Brand Value and Awareness within a New Audience Respond to Current Industry Trends
MARKET SEGMENTATION Plus-Size Women Ages 18-40 Thrifty, Stylish Middle Class Interested in fashion trends, conscious about appearance
BENEFITS SOUGHT Clothes that fit their body shape and make them feel beautiful Ability to shop at a popular store with convenience. Chic options Affordable style
VALUES Hedonic. Proper fit, desire for a specific fashionable look. Personal Economic Aesthetic
PERCEPTION/LEARNING H&M is a well-known and loved brand, but has alienatedwomen after a certain size. High Involvement • Consumers attach meaning to their clothes. • Role of fashion and appearance in society.
MOTIVE Purpose: to provide the female plus-size consumer with achic look available at all locations and at an affordable price.
HIERARCHY OF NEEDS: Self-Actualization: High-fashion look. Esteem: Sophisticated and stylish product line. Belongingness & Love: Able to shop at a popular store regardlessof size. Safety & Security: Feeling comfortable in clothing. Physiological Needs: The clothing itself.
H&M’S NEW SIZES: Interest: Self-Expression- provides & promotes self-esteem Image of Brand: Chic and trendy affordable pieces. • Now catering to a curvier audience • Sold at H&M stores throughout the U.S. • Fashionable Clothing • Varied Assortment • Trendy Colors/Feminine Cuts