MACRO TRENDS, THE FLAT AGE SOCIETY

The flat age society is an eagerly waited revolution that advocates the audience of 60 years plus. The trend highlights the flaws in businesses that don't target these consumers.

The market of 60+ has quietly been increasing. These consumers are desperate for items that highlight their needs, but don't patronise.  The flat agers so far haven't had a substantial stance in the fashion world, but thats all set to change. It's a known fact that people are living longer, and this audience of 60 plus years are waiting to spend their money on meaningful items that connect them to the modern world. 

Men and Women of the flat agers shouldn't have to confide in what sadly society has created of them. The trend of flat age society enables brands to target these consumers rather than forget about them. Vivienne Westwood is a great example of how her age bracket hasn't allowed her stylishness to slip, or the development of her brand, so why is it so many of the 60+ market allow them selves to.

"Something exciting is in the air. Forget everything you thought about being old, or age even. In the society of the future, age isn't just a number- its a flat" LSN GLOBAL.

The fashion industry is becoming more age aware. Aware that men and women post retirement have money to spend. This market group however don't crave the items brands are selling them. 

I asked my 81 year old grandmother how she thought about what was on offer for her age bracket. My grandmother is a woman who doesn't act her age, being a widow she constantly goes away, meeting new people and interacting with other women in her situation and they all agreed; 

" I am an 82 year old woman, I don't want to look 50, i don't even want look any younger than I am, I've had my 20s, 30s etc. I want to embrace the place I am in now and wear clothes that are stylish and suit my body. I don't want to wear frumpy, boring clothes that are on offer to my age. I also don't want to wear tight, incredibly short clothes. There's no place for women or men for that matter that can supply stylish clothes for my age bracket. Its incredibly frustrating. "

There are brands and key individuals that are captivating this revolution. The trend has driven brands to employ older models such as Bernhard Willhelm. "All walks beyond the catwalk" is a great campaign that works to introduce older women to the fashion world. 

MACRO TRENDS, THE CONVERGENCE ECONOMY

WHAT?

A convergence economy works to blur the lines between different lifestyle industries.Rather than being the brands behaviour, convergence economy is down to the brand itself. Brands are moving away from traditional shopping experiences and are merging to become more creative and innovative. 

WHERE?

Convergence economy occurs in stores like Topshop Oxford circus, M&S, Dovers Street Market and H&M. 

- They achieve this through introducing things like DJ nights, instore hair salons, Art, and food stores.

WHO?

The whole purpose of a convergence economy is to target as many consumers as possible. With the constant growth of internet shopping, convergence economy makes shopping in stores easier as consumers can achieve more than one task when shopping. 

WHEN?

In 2007 consumers would visit 5 stores in one shopping trip compared to 3 nowadays. 

WHY?

Convergence economy was created to create an easier, more exciting shopping experience for consumers. The blurring between different industries like fashion with art, music or food makes shopping much more enjoyable, easier and more efficient. Consumers are also more likely to shop in store rather than online if they can achieve more than one task in their shopping trip, a luxury online shopping won't allow. The high street is dying, with convergence consumers are encouraged to shop in store.

H&M Loves Music Bloc party in Paris   (follow link for example)

TOUCH POINTS

WHAT IS A TOUCHPOINT?
- Anyway a consumer will experience a brand

Buying and selling channels // Distribution // Service // Transactions // Classic advertising (above the line) // Bellow the line advertising (product placement) // Advertorials // Viral adverts // Social networking (Instagram, Facebook, Twitter) // Sales staff // Point of sale. 

WHAT IS THE PURPOSE OF A TOUCHPOINT?
Each individual step made in a business contains a number of touch points. These touch points are sourced when such individuals come in contact with the brand. 
- The goal is therefore to ultimately have each touch point reinforce the brands marketplace promise. 

IMPORTANT TOUCHPOINT RELATED QUESTIONS

• How does a brand generate customer demand?
• How are products sold within this brand?
• How do consumers use these products?

GLOBAL BRAND IDENTITY

WHAT IS A BRAND?

An identity. Think of a brand like a person; they have a personality. Brands can be a name, logo, slogan or colour combination. A brand is how the owner of the business whats their product to be communicated; how its perceived.

• A brand name is a trademark (it cannot be used by anyone else)
• A brand is a products personality; USP (unique selling point)

BRAND EXPERIENCE, BRAND IMAGE

Feelings, thoughts, beliefs, attitudes
This psychological aspect is referred to as "brand image" and exists in the minds of people made up of information and expectation of the brand.

BRAND AUDIENCE 
A brand is nothing without an audience. A brand is only as good as its response to it. 

• "Opinion formers". Crucial small group of people. This elite group of people make trends, they don't follow them.
• No brand could exist without their target audience believing in them
• Brands are constantly equiring feedback from their target market about certain products. They should work to advocate their audience opinion.

BRAND IDENTITY 

The outward appearance of a brand; name, logo, campaign.

• The nugget of information about the brand that will hook the consumer. 

Brand identity is created by the brand owner, it therefore only reflects how the owner wants the brand to be perceived. 

- Contrast brand image whereby brand image is due to the audience perception. 

BRAND STRATEGY AND MANAGEMENT 

Core market in the middle. What the brand is known for; (Dior, haute couture)

Outer, peripheral market and brand extension; perfume, leather goods etc. 

Unrelated market; some brands tapping into other markets; Missoni hotel Scotland. 

Brand strategy, a long term plan for developing a successful brand. 

FASHION HIERARCHY

Market segmentation 

1. A group of people that share one or more characteristics. Each market segment is unique and marketing managers decide on various criteria to create their target market(s). They may approach each segmentdifferently, after fully understanding the needs, lifestyles, demographics and personality of the target.

FASHION MARKET SEGMENTS, Economy

"All economy fashion is fast fashion, but not all fast fashion is economical"

Zara, Topshop, Pull & Bear, Primark and H&M are all Economy brands. 
Economy fashion is for those who desire on trend garments at affordable prices, with garments on average starting at £7. 

The first sweatshop appeared post WW1, In the 20th century. This was due to the need for cheap, quickly produced clothing after the devastation of the war. 

Within high street more than 10,000 different styles are produced each year with big high street contributors such as Hennes and Mauritz creating the largest chunk of these figures.

FASHION MARKET SEGMENTS, High Street

The High street has a price influenced direct market of customers around age 30+. This however does vary with different lifestyles and often on the brand itself. Certain brands attract a much younger audience. 

GAP, Monki, Oasis, and Warehouse are all example of high street brands and due to the fluctuation in price range and styles many high street brands are edging to more of the economy segment. 

High street is obviously cheaper than designer brands, but there is some elements of runway influence. 

High street fashion originates from the 20th century due to mothers staying at home with their children causing disposable income to drop. This meant there was a need to cater for this type of customer, thus the birth of high street fashion. Entry level for a garment can be as little as £5.00 for an item like t shirts and basics. 

The high street is deteriorating though because of a growth in online shopping. Many retailers use online retail as a main source of income. When the high street began there was as many as 250 stores, now due to the increase in online shopping and the expansion of other market segments theres as little as 70 still running.