The 2024 Prime Day Panel: From Preparation to Profit
The Hive
1. T H E H I V E
RAEESA BISMILLA
DEMI SIMPSON
PUNAM BHAKTA
IDRYS FERGUSON
BERONICA QUINTERO
2. WHY “THE HIVE”?
What this means for us as a brand?
• We want people to visit our stores and feel
like they are a part of the company and
lifestyle.
• We want consumers to show involvement
with the brand. (Social media, blogs,
conscious capitalism)
• A hive mentally promotes a sense of
collective thinking where everyone is
involved in reaching a common goal. Will
encompass all employees as well as
consumers.
• Promotes a sense of “family” or
community mindset.
3. SOCIO-CULTURAL TRENDS
Socially Responsible
Companies:
• Almost 75% of Millennials will
pay more for a sustainable
product. This trend is
strongest in the younger
consumer.
• Female Millennials are more
likely to buy a product with a
social/environmental benefit,
tell friends and family about
the CSR of a company, and
be loyal to a socially
responsible company.
(Marketing Charts, 2015)
Millenial Spending Power:
• 80 million Millennials make
up about a quarter of the
population. They have about
$200 billion in buying power.
(Schawbel, 2015)
Brand Expectations:
• Affluent Millennials spend
money on products that fit
their mindset. They don’t say
one thing and do another.
(Fromm, 2015)
• They want brands to be a
resource, not noise.
• Millenials thrive on a busy
lifestyle and live in a time
crunch. (Casserly, 2012)
• Women in the upper-middle
class tend to be more
knowledgeable about what they
want, where and when to shop
for it; their shopping is both
selective and wide-ranging.
These consumers are more
likely to search for information
prior to purchase.
4. INDUSTRY TRENDS
• According to the NRF, retail sales will grow 3.1% in 2016.
Spending increasing due to growth in jobs. *more
jobs=more disposable income and money in the economy=
more spending of retail goods. (Reynolds, 2016)
• Women’s apparel reports for 53% of revenue in the retail
industry. (Wagner)
• The size of the global apparel business is growing and is
expected to generate double digit growth between now and
2020. (Keller, Magnus, Hedrich, Nava, Tochtermann, 2014)
• Fast fashion retailers are seeing 28% higher profits than
traditional retailers. (CIT, 2015)
5. Both Brands:
• Fast Fashion for men, women, and kids
• Cutting edge fashion at affordable prices
• Targeted at younger professionals, ages 25-40
• Mid-Range Prices
• Brand Engagement: Online and in-store
• Many locations and easily accessible
COMPETITOR ANALYSIS
Pitfalls:
• Low quality
• Zara’s reputation of bad labor practices due
to relying on cheap labor. (Frost, 2014)
• Increasing prices due to popularity. (Wells,
2016)
(ZARA + TOPSHOP)
6. DEMOGRAPHICS
• Young adults between the age ranges of 25-35 years
old.
• Income is ranged from upper mid to upscale.
• The income producing assets are moderate to high.
• Homeownership is a mix which includes renters and
first time home owners.
• The household size is small since they mainly live
without kids.
• In education they are mostly college graduates
pursuing their careers.
• The employment level is professional.
• They are tech savvy and fashion forward by keeping
up with the latest trends.
Up-and-Comers:
Younger, upper-midscale singles before they
marry, have families, and establish more
deskbound lifestyles.
Found in second-tier cities, these mobile
adults, include a disproportionate number of
recent college graduates who are into athletic
activities, the latest technology, and nightlife
entertainment.
Young Digerati:
Tech-savvy and live in fashionable
neighborhoods on the urban fringe.
Affluent, highly educated, and ethnically mixed.
Young Digerati communities are typically filled
with trendy apartments and condos, fitness
clubs and clothing boutiques, and casual
restaurants.
7. PSYCHOGRAPHICS
Young Digerati:
• Shop at Bloomingdale's
• Travel to Asia
• Read Dwell
• Watch Independent Film Channel
• Audi A3
Up-and-Comers:
• Order from priceline.com
• Travel to South America
• Read Cigar Aficionado
• Nissan Altima Hybrid
8. BRAND HIERARCHY
WhiteGrayBlack
Potential Product
Augmented Product
Expected Product
Basic Product
Core Benefits
Core Benefits: Quality, Fashion forward,
community experience.
Basic Product: Mix and Match capsule wardrobes
(women’s apparel)
Expected Product: Community involvement while
shopping (charity shopping events, support of local
honey distributors, quality fashion forward pieces)
Augmented Product: Service offering by Style
Experts
Potential Product: Expansion to different locations
(national & global), online.
15. STRENGTHS
• Focus on creating a better customer
experience with style experts
• Fashion forward and high quality
products
• Use of eco-friendly fabrics
• Provide a community experience with
coffee shops and special events in-store
• Mix and match capsule wardrobes for
women
WEAKNESSES
• Higher prices than competitors
• Narrow target audience
• Few store locations
OPPORTUNITIES
Increase brand awareness
Expand product lines
Increase in income of target market
Technology development and
innovation
Provide an Omni-channel approach
Expand the brand globally
THREATS
High competition such as Zara and
Topshop
Fast fashion retailers with better
pricing and faster supply chains
Rising costs of raw materials for
production
SWOT ANALYSIS
18. DIFFERENTIATION
PRODUCT SERVICE PERSONNEL CHANNEL IMAGE
While basic
products will be
available all year,
the seasonal
collections will be
“Capsule
Wardrobes” and a
portion of the
proceeds of each
collection will
support a different
charity.
While customer
service will of
course be
paramount to
the success of
The Hive, the
community will
be created by
facilitating
friends
gathering, with
additions like a
coffee shop.
The staff of The
Hive will have
extensive
knowledge of the
seasonal capsules
and the mission
of the charities
that each one
supports. They
will be a source of
information for
causes the
community cares
about.
The Hive is a
private label
boutique. The
exclusiveness of
the channel is
what
differentiates it
from other
similar clothing
brands. Each
location will be
tailored to the
community it is
located in.
A community
experience is the
ultimate product
of The Hive.
Clothing that fits
beautifully and
blends in with
the existing
wardrobe
seamlessly,
while supporting
worthy causes, is
the physical
manifestation.
19. EVALUATE BRAND POSITION
Important
Our target market which consist
mainly of millennial crave social
connections, approval, quality and
are moving towards following more
socially responsible companies.
(Swinand, 2014)
Superior
The Hive unites all vital aspects of
the millennial lifestyle.
Affordable
While the Hive contains a slightly
higher price point than its
competitors. The target market is
willing to pay these prices for the
quality we provide.
Distinctive
By creating an experience that
combines trendy apparel, charity,
and social atmospheres (coffee
shop, blogs, etc.), The Hive will
provide the consumer with an
experience our competitors lack.
Pre-emptive
Mass scale stores find difficulty in
gaining intimate relationships with
their consumers.
Profitability
Higher price points allow the level
of quality our consumers are
looking for. All encompassing
needs of the target market are not
met by competitors therefore
allowing the hive to tap into an
unsaturated market ultimately
driving sales.
20. CBBE BLOCK
SALIENCE
The Hive provides a unique and
convenient way to create great
wardrobes for the busy Millennial
without sacrificing deeply held values.
PERFORMANCE
Higher prices allow for social
responsibility and community
engagement, and highly fashionable
capsule wardrobes take the guess
work out of style.
IMAGERY
The Hive customer holds
environmental and social causes just
as important as style and function.
The clothing serves their purposes,
and achieves a social benefit at the
same time.RESPONSIBLE
CARING
TRUSTWORTHY
CREDIBLE
QUALITY
WELL BEING
DO GOOD
SOCIAL
APPROVAL
CONNECTION
DURABLE GOODS
TRANSITIONS WITH
BUSY LIFE
HIGHLY FASHIONABLE
PREMIUM PRICE
PACKAGED WITH A
SOCIAL BENEFIT
MARRIES TRENDS AND
QUALITY
WOMEN’S CAPSULE WARDROBES
SOCIALLY RESPONSIBLE CLOTHING
LOYALTY
COMMUNITY
ENGAGEMENT
21. CONCLUSION 1
The Hive will have increasing brand equity to the consumer:
• Socially Responsible
• Community Experience
• High Quality products
• Meets all Millennial desires/lifestyle
22. Increase sales by:
• Incorporating coffee shops inside
the stores to enhance the customer
experience and make them shop
longer.
• Creating special promotions on
social media platforms and utilizing
bloggers to promote the brand.
CONCLUSION 2
Increase consumer's brand
knowledge by:
• Partnering with charitable
organizations to increase brand
awareness and customers.
• In-store style experts will inform
customers about the new styles
and products available.
23. REFERENCES
Casserly, M. (2012, September 5). If Time Is Money, Millennials Are Broke--And They
Couldn't Be Happier. Retrieved from
http://www.forbes.com/sites/meghancasserly/2012/09/05/if-time-is-money-
millennials-are-broke-busy-obsessed/#78b8d0ef173c
CIT. (2015, October 15). Fast Fashion Garners Fast Growth. Retrieved from
https://www.cit.com/thought-leadership/fast-fashion-garners-fast-growth/
Competitor Analysis. (2013). Retrieved from
http://zarafashion2013.wix.com/zara#!competitor-analysis/c14m9
Fromm, J. (2015, June 10). Affluent Millennials Expect Brands to Become A Resource.
Retrieved from http://www.forbes.com/sites/jefffromm/2015/06/10/affluent-
millennials-expect-brands-to-become-a-resource/2/#4c5cf9b42590
Frost, A. (2014, October 27). Forever 21, H&M, Zara, Uniqlo: Who’s Paying for our
Cheap Clothes? Retrieved from http://groundswell.org/forever-21-hm-zara-
uniqlo-whos-paying-for-our-cheap-clothes/
Keller, C., Magnus, K., Hedrick, S., Nava, P., & Tochtermann, T. (2014, September).
Succeeding in tomorrow's global fashion market. Retrieved from
http://www.mckinseyonmarketingandsales.com/succeeding-in-tomorrows-
global-fashion-market
Marketing Charts. (2015, October 15). Will Consumers Pay More For Products From
Socially Responsible Companies? Retrieved from
http://www.marketingcharts.com/traditional/will-consumers-pay-more-for-
products-from-socially-responsible-companies-60166
Reynolds, T. (2016, February 10). NRF forecasts retail sales to grow 3.1 percent in 2016.
Retrieved from https://nrf.com/news/nrf-forecasts-retail-sales-grow-31-
percent-2016
Sali, A. (2014, March 22). Competitor Analysis Topshop V H&M V Primark. Retrieved
from http://retailscienceuk.blogspot.com/2014/03/competitor-analysis-
topshop-v-h-v.html
Schawbel, D. (2015, January 20). Retrieved from
http://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-
the-millennial-consumer/#26d666a528a8
Swinand, A. (2014, March 25). Corporate social responsibility is millennials' new
religion. Retrieved from
http://www.chicagobusiness.com/article/20140325/OPINION/140329895/corp
orate-social-responsibility-is-millennials-new-religion
Wagner, N. (n.d.). Analysis of the Retail Apparel Industry. Retrieved from
http://smallbusiness.chron.com/analysis-retail-apparel-industry-70514.html
Wells, R. (2016, February 1). Why prices at your favourite “cheap” fashion shop aren’t so
low any more. Retrieved from
http://www.news.com.au/lifestyle/fashion/fashion-trends/why-prices-at-your-
favourite-cheap-fashion-shop-arent-so-low-any-more/news-
story/cfb22a22a3e54b851ff79b4372309276
