In Chapter 3 we discuss Strategic Planning in Retailing and learn how Zara has “mastered the art of retail” with a fast fashion model. A recent Bloomberg article, “Speed Up or Die” is the New Reality for U.S. Apparel Retailers (click here Link ) discusses how apparel retailers must speed up their operations to keep customers interested and to survive. After reading this article, please share your thoughts:
We know that by producing in its own factories (verticalization), Zara is at a great advantage in controlling its operations. We learn here that Kohl’s private labels (Lauren Conrad or Simply Vera) make up 70 percent of its women’s business. Do you think Kohl’s should move toward more private label (to speed up) or will this disappoint consumers who shop Kohl’s for national brands? That is, is the trade-off worth it……. more private label (and less diverse) offerings in the stores (faster) or a broader assortment of brands that are slower to change?
The article warns that “The stakes are high to make fast fashion work. A rapidly changing assortment of trendy clothes helps drive customers into stores………”
Do you think a “rapidly changing assortment of trendy clothes” should be the strategy for all apparel retailers? Please be detailed here, citing specific retailers.
Chapter 3 discusses the basics of developing a strategic plan in retailing. Refer to the information in the chapter and article when answering above questions.
Additionally, please pay attention to your spelling and grammar!
Link: https://www.bloomberg.com/news/articles/2018-03-21/kohl-s-nine-year-fashion-odyssey-reflects-industry-s-challenges