There is an increasing importance in attracting consumers in a softening retail climate through offering and reflecting what consumers want and need through the brand and their product range, ensuring they are able to maintain a loyal customer while also attracting future consumers and staying profitable.
Through conducting observational, interactional and pictorial primary research a clear understanding of the brands, their consumers and the product range of day dresses they offer within their Winter 2011 range has been monitored and recorded. Through secondary research from appropriate online sources, books, texts, journals and published financial data, it has presented a wide understanding of the brands backgrounds, logistics all of which are necessary to achieve a comprehensive insight.
Through the information gained through primary and secondary data it provides the opportunity to analyse, apply, compare and contrast the brands and their ranges helping to reach the overall aim of establishing which brands product range is more successful at meeting their customer?s needs. However there are clear limitations within our research, as we do not have access to up to date figures and sales reports of each brand.
Customer surveys, which have been conducted, should be with a larger quantity of individuals. The data used to produce the conversion rates should have been more comprehensive with data taken daily at varying times of the week to give us a more realistic average on the each brands annual store income all of these factors shall restrict us in presenting a fully informed and precise outcome, however our final outcome shall be based on the research we have under gone.
[...] Wright 2011) From the perceptual map it appears that in comparison to their competitors, both Cos and Reiss are some of the brands least effected by new trends as they are design led rather than consumer led, their customers go to them because they consistently deliver transitional and stylish pieces. It also portray Cos as a more affordable brand that can still be considered upper high street as it is on a par with French Connection, above Zara but below the likes of Whistles. [...]
[...] Aim and purpose of report This report aims to evaluate the success of the two high end, British high street stores Cos and Reiss‟ day dress ranges for Autumn/Winter 2011, focusing on their day dresses product range. It will be possible to measure the ranges success based upon their ability to meeting their target customer‟s wants and needs. Objectives -Analyse the product range comparing and contrasting the two brands. -To analyse both brands current situation within the UK market through the use of PESTLE, SPICC, SWOT and the Marketing Mix. [...]
[...] Staff and customer ratio 4:2 around the store and the products more (Wright, Plowright Reiss organized and visible. sales advisor, See appendix conscious, helpful & friendly. - Low volume, unobtrusive music and on the products. - Staff are brand and fashion natural lighting, with simple spotlighting - Store layout is cleverly considered - Seating area offered where you can in regards to customers flow - easier relax and read through the latest Cos browsing through the collections. magazine (Meel 2011.). [...]
[...] Available at: http://4.bp.blogspot.com/-93-R3NsVQ8E/TqHfslmCRjI/AAAAAAAAAqQ/oEi73kHZ8g/s1600/DSC08219.jpg [Accessed on 30th November 2011] Cos (2011) [Online image]. Available at: http://1.bp.blogspot.com/TCjjdOf_jW4/TpXv1DnhNOI/AAAAAAAAAeE/Ioa7N9qH1j0/s160 0/IMG_5048.JPG [Accessed on 30th November 2011] Cos (2011) [Online image]. Available at: http://i307.photobucket.com/albums/nn288/fashionblogger/2011/hurry_up1.jpg [Accessed on 30th November 2011] Cos (2011) [Online image]. Available at: http://www.cosstores.com/Content/CmsContent/Things/THINGS_2011W46_IMG_2.jpg [Accessed on 30th November 2011] Cos (2011) [Online image]. Available at: 34 http://www.cosstores.com/Content/CmsContent/Magazine/MAGAZINE_AW11_TUVA_IM G.jpg [Accessed on 30th November 2011] Cos (2011) [Online]. Available at: http://www.cosstores.com/Content/CmsContent/Magazine/MAGAZINE_AW11_CLAUS_I MG.jpg [Accessed on 30th November 2011] Cos (2011) [Online image]. Available at: http://www.myfashionlife.com/wpcontent/uploads/2011/03/olivia.jpg [Accessed on 30th November 2011] Cos (2011) [Online image]. [...]
[...] But it all really depends where I'm shopping and if there's anything I'm really after. -How often would you buy something from COS? In average I would say 50% of the time. Appendix 4 Conversion Rates Average spend x bags x 2 (Per hour) x 8(hours) x 7(one week) x 52(weeks = year) = Estimated profit margins for each brands store in specific location. REISS AVERAGE SPEND = £140 COS AVERAGE SPEND = £110 REISS&COS Covent Garden: Monday 2.10 2.40 pm REISS Quantity that walked past: 715 Quantity that walked in: 32 Quantity that came out with bag: 3 COS Quantity that walked past: 598 Quantity that walked in: 57 Quantity that came out with bag: Conversion Rate: REISS= £140 x 3 = £420 x 2 = £840 (per hour) x 8 = £3,360 (Per day) x 7 = £23,520 (per week) x 52 = £1,223,040 Per year Per year for Coven Garden REISS COS = £110 x 7=770 x 2=£1540 (per hour) x £12,320(per day) x £86,240 (per week) x 52= £4,484,480 Per year REISS&COS - Regent Street: Thursday 2.30 3 pm Quantity that walked past: 472 944p/h x 8 = 7,522 p/day 7,522 x 7 = 52,864 p/week 52,864 x 52 = 2,748,928 per year walk past Quantity that walked in: 22 44p/h x 8 = 352 p/day 352 x 7 = 2,464 p/week 2,464 x 52 = 128,128 per year walk in Quantity that came out with bag: 2 COS Quantity that walked past: p/h x 8 = 8,320 p/day 8,320 x 7 = 58,240 p/week 58,240 x 52 = per year walk past Quantity that walked in: x 8 = 3,072 p/day 3,072 x 7 = 21,504 p/week 21,504 x 52 = 1,118,208 per year Quantity that came out with bag: 4 REISS £140 x 2 = £280 x 2 = £560 x 8 = £4,480 (per day) x 7 = £31,360 (per week) x 52 = £1,630,720 per year COS £440 x 2 = £880 (per hour) x 8 = £7,040 (per day) x 7 = £49,280 (per week) x 52 = £2,562,560 per year Appendix 5 Product fibre and Size Comparison data 47 FABRI 1.Turni n 2. [...]
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