The future is in the hands of the consumers with a power shift away from the retailers.
Shoppers have more control over what, when, how, and how often they purchase fashion, leaving retailers (both online and brick and mortar) with many challenges not the least of which is ‘what to offer’.
· High Perceived Value: The product must convincingly offer a high level of value and durability for the price, and give consumers confidence that their money is well and wisely spent.
· Quality and Utility as well as Fashion: Fashion will remain important, but quality will come first in the minds of many consumers. Products that offer quality, utility and fashion will have tremendous competitive advantage.
· High Brand Reputation above Style: The brand must stand for a company that clearly puts customer satisfaction and high value above all else. If the brand also stands for a firm with great styling, high social values, such as Eco-consciousness, or other ancillary attributes, that’s even better. Learn more. . .
An Orson Welles quote sums it up, “Don’t give them what you think they want; give them what they never thought was possible.”
All Photos: Dante Berdeuv