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H&M Brand Audit: Fast Fashion Leader's Growth, Consumers & Competition
- 3. Who is H&M? Brand leader in its category of fast fashion Combines its long history of quality product offerings with innovativeness The world’s most valuable clothing brand – equity valued at $21 million 3500 stores in 55 different markets worldwide Cutting edge fashion at affordable prices Owns Monki, Cheap Tuesday, and other fashion brands within a brand Who is H&M?
- 5. Growth Analysis H&M has experienced intensive periods of growth, most notably during the late 1990s to present day Internet, e-commerce, and social media increased brand awareness Celebrity + designer partnerships have helped turn H&M into a luxury brand Carefully controlled supply chain ensures a quick-to-store production Growth Analysis
- 6. Consumer Analysis Maslow’s Hierarchy of Needs: H&M satisfies esteem and self-actualization needs, including: self-esteem, confidence and creativity
- 7. Target Market: Young female Inexpensive designer clothing Online Marketing Heavy User Generation Y Consumer Analysis Source: H&M.com
- 8. American Eagle: $3.3 billion in revenue A losing interest amongst logo eccentric stores Removing logo Much more expensive Beginning to expand globally to compete with H&M Competitive Analysis 1/3
- 9. Gap Inc. Owns Banana Republic & Old Navy $15.6 billion in revenues Mistreatment of Cambodian workers ‘The New Gap’ Successful E-commerce Competitive Analysis 2/3
- 10. Zara: $14.4 billion in revenues Rapid expansion from Europe Runway clothing Markdown 50/50 inventory Zara Home Competitive Analysis 3/3
- 11. Growth AnalysisPositioning Analysis – H&M vs. Big 3 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 Quality Price Product offerings PromotionsAd Channels Environmental Responsibility Strategic Alliances H&M Zara American Eagle The Gap
- 13. Brand Equity - Salience Depth • Advertising and promotional vehicles • Very popular with young adult and teen market segments • Celebrity and designer collaborations = credibility Breadth • Expansion • Stores • Presence - social and traditional media
- 14. Brand Equity – Performance & Imagery Performance • Brand promise • Credible Imagery • Pictorials – fashion is everywhere • Diverse – fashion is for everyone • User-generated feel to IMC – fashion is for me
- 15. Brand Equity – Feelings & Judgements Feelings • Excitement, satisfaction, charity • Social acceptance • Conscious collection Judgements • Excellent value • Recommended • Honest and trustworthy
- 16. Brand Equity – Resonance • Strong • Following • Ownership
- 17. Excellent at maintaining very visible brand presence in the minds of consumers H&M spirit of innovation gives the brand its strong equity Knows its’ markets and utilizes the channels to reach them Fast fashion presents challenges to brands; H&M is no exception Increasing existing CSR practice Enhance existing programs by working with loyalty program in tandem H&M needs to become not only a brand leader, but an industry leader Product customization through strategic alliances (Ex. RiptApparel) Brand Evaluation