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Forever 21: Youth Fast Fashion
Verdict Research Limited, March 2011, Pages: 32
Having experienced significant growth over the past decade, Forever 21 is becoming a key player in the global clothing sector, consolidating its position in its domestic market and making inroads into new regions such as Europe.
This case study will examine Forever 21's operations, including aspects of its low-priced fast fashion strategy, as well as providing recommendations for its competitors.
Glean new marketing ideas for your retail business by uncovering some of Forever 21's core policies on pricing, promotions and product ranges.
Prepare defensive strategies to ensure that Forever 21 does not have any competitive advantage over your company should it enter your market.
Benchmark your company's performance against Forever 21 by accessing key operational data on the US fast fashion retailer.
The retailer has identified its new preferred store format in a 26,119 sq m (85,691 sq ft) store, previously belonging to Mervyns, located in Cerritos, California.
The store, which opened in January 2010, has been called the “emporium” concept by the retailer, and has been highlighted as showing the “overall direction of the future of Forever 21.
”Forever 21 has been continually criticized by designers and other retailers for copying their designs. Although the company denies these accusations, the rumors persist. Lawsuits have come from Diane von Fürstenburg, Harajuku Lovers, Anthropologie and Anna Sui. Forever 21 has never been found guilty, but settlements have been made out of court.
Forever 21 targets young consumers, predominantly teenage girls and women below 25, although the target demographic for the retailer has changed over the years.
Larry Meyer, the executive vice president of Forever 21, has stated that 80% of its shoppers are over 18, with 35% over the age of 24, 45% between 18 and 24, and the remaining 20% under 18.
What strategies does Forever 21 have that make it such a success and which components should you consider for your business?
How does Forever 21 utilize social media such as blogs to interact with potential consumers?
How many stores does Forever 21 have, how has its store size developed since its launch in 1984, and how many does it plan to open in the future?
Which type of products does Forever 21 sell; how many private label brands fall under its proposition and who is its target consumer?
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