The recent visit at the Pitti Bimbo Show made me ponder some thoughts about an article I read a couple of months ago and that I would like to share. This is not about color trends or silhouettes but mostly about consumer behavior and new business opportunities.
Women’s clothing industry will report a 12% increase by 2014 as reported by Marketline (1) despite the global economy downturn; but don’t be fooled by the increasing rate on women’s apparel consumption, as we have to take a look at the big picture where new upcoming brands are fighting for a position on the ladies’ mind on top of the already established brands.
As the market is getting more saturated competition is getting tougher; therefore everybody is still wondering what would be the next untapped market to increase sales.
Interesting point about the article from Euromonitor is how the industry is looking at the “little consumers”; the children’s wear arena is growing and seems promising. The trend here is for the well-groomed woman who is not only conscious of carrying a chic bag with stylish pair of shoes to complement her trendy outfit but also conscious about the ultimate accessory: of course, the kids!
Mothers are translating their fashion sense to their children. If she looks good the kid has to look good to play the part. This trend is mostly current in developing economies as it draws distinction in society, though it is also present in mature markets and as a consequence it is opening new business opportunities.
This new consumer behavior trend can be a promising scenario for brands with none or little kids’ wear background as it can be an extension for their current product mix. In the other hand, for traditional-well-established-children’s wear companies, this new trend can translate into revamping their lines and to offer premium collections to the product mix.
The trend is applicable to Mass Retailers, Specialty Stores and Luxury Houses and we can forecast hard competition once the consumer is fully educated. The new challenge is now into developing a strategy that will stay truthful to the brand DNA and will at the same time glamour the kid’s mind. It is not about offering scale models of the product mix already on the adult consumer floor, but to twist it and reinterpret this DNA to capture the little ones attention; mostly because kids are also making their own decision on what to wear, on developing their own fashion style, and building their own identity following the models seen on their parents… remember: monkey sees, monkey does.
Buyers then, have to develop a keen eye to create an assortment that will captivate both parents and kids equally. Brands who conquer the kid’s market today can also build brand loyalty that will get a long way in the future when these new little consumers get into the work force.
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Roger ARTiga
(1) References:
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