Unit 31: Fashion Retailing Assignment

Posted on September 9, 2022 by Cheapest Assignment

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Retail Change Theories

Aim and purpose

Fashion retailing is an increasingly complex business, with competition between retailers for their share of the consumer market becoming more intense. This unit will provide an understanding for those learners wishing to become involved in fashion retail, but who have little experience or knowledge of this area.

Unit introduction

The unit will help learners to understand the role of fashion within the retail sector. There are a large variety of retail companies and outlets within the fashion, sector ranging from internationally famous department stores, multinational fashion chains, small independent boutiques and now large supermarket chains. Fashion merchandise is available in all price ranges, catering for all consumers from the budget conscious shopper to those customers who can afford the most expensive designer clothes. This is an exciting and vibrant part of the retail sector and provides ample scope for interesting study. Although the unit concentrates on the retailing of fashion items, it will also allow learners to develop an understanding of the history and role of fashion in society and the fashion industry itself works. Learners will learn to recognise fashion trends and the way these trends impact not only on the products available in shops but also on the services retailers offer. Learners will understand the importance of retail image and ensuring that a retailer’s image is consistent with its product range and intended market. The learning outcomes and unit content are designed to enable learners to understand how consumer needs are satisfied through fashion retailing, primarily at shop and store level. Learners will learn how market segmentation is of particular importance in successful fashion retailing. The unit will also enable learners to explore factors that influence trends and consumer tastes.

Learning outcomes

On completion of this unit a learner should:

  1. Understand how different retail outlets define their target market for fashion merchandise
  2. Know the impact of fashion trends on retail services and products
  3. Understand how fashion retailers develop an image and product range that meets the needs of their target market
  4. Know how fashion retailers cater for mass and niche markets.

Unit content

  1. Understand how different retail outlets define their target market for fashion merchandise

    Retail outlets: multiples; department stores; supermarkets; discount stores; outlet shops; independent traders; haut couture boutiques; market stalls; concessions; franchises; mail order; internet shopping; television sales; fashion cooperatives

    Target market segmentation: age; gender; personal characteristics eg height, size; socio-economic factors; cultural differences eg ethnicity; cultural influences eg fashion themes associated with pop music trends, cinema, sport; geographical; lifestyle; purchasing habits; purchasing motivation; product life cycle; fashion trend life cycle; market response eg innovators, laggards

    Fashion merchandise: clothing, footwear, accessories

    Retail policies: eg pricing, opening hours, visual merchandising displays, service level, use of internet and other media

  2. Know the impact of fashion trends on retail services and products

    Historical fashion trends: styles; trends; social and moral influences; economic influences

    Current influences: popular culture; celebrity culture; role models; music; media, eg fashion and style
    magazines, other popular magazines, television, cinema; technology, eg fabric technology, ‘techno’ styles,
    technology as a fashion accessory; leisure activities; social aspirations; value systems eg ecological concerns

    Fashion trends: style eg length, cut, fabric, colour, trim, accessories; changing body part emphasis; designer
    collections; street fashions; mass reproduction; examples of current fashion trends

    Retail services: growth of fashion retail markets; frequency of stock and range changes; mass demand;
    frequency of new designs that filter into market eg designer collection to supermarket product; retail
    outlet ambience; service level; alternative ranges for market sub-segments eg concessions, designer
    departments within department stores, identifiable sub-segment ranges within multiples; designer ranges
    within supermarkets

    Products: breadth and depth of range; sizes; options

  3. Understand how fashion retailers develop an image and product range that meets the needs of their target market

    Retail image: corporate image; types of outlet; advertising; graphics; visual displays; merchandising; store layout; ambience; service level; packaging

    Staff and customer service: dress codes; level of service provision; personal selling; fitting rooms; returns policy; direct sales

    Product range: manufacturers, designers, labels; price range; quality; breadth and depth of stock range; rate of stock changeover

    Market needs: compatibility of retail image and customer self-image; price range; frequency of style change, durability of style; retail service requirements

  4. Know how fashion retailers cater for mass and niche markets

    Types of outlet: independent boutiques; chain fashion stores; department stores; supermarkets; concessions; franchises; direct sales; catalogue; internet

    Designers: originals; reproductions; use of designer labels eg Armani, Armani Exchange; enhancement of brand identity of general (non-fashion) retailers through inclusion of high-profile fashion merchandise

    Buying habits: seasonal purchases; number of seasons; sales policies; discount policies

    Mass markets and niche markets: age profiles; purchasing habits; price ranges; ‘branding’ versus ‘designer’

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