Free people project
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Free People began in the 1970s as a wholesale business selling women's clothing. The founder Dick Hayne opened the first Free People store in West Philadelphia in the 1970s. Since then, Free People has expanded into a lifestyle brand and retailer selling clothing, accessories, and home goods reflecting a bohemian aesthetic. While starting as a wholesale business, Free People now operates brick-and-mortar stores, an e-commerce site, and continues wholesale. The brand targets creative, young women through unique merchandise and an inviting store environment. Free People uses social media and an interactive website to engage customers and promote their constantly evolving product mix.
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Free people project
- 2. How it all Started Free People was created by Dick Hayne in the 1970s. It originated as a wholesale business, selling young women’s clothing to independent boutiques.With his growing success he decided to open the first Free People store in West Philadelphia. Since then Free People has expanded into a lifestyle brand for creative, young, fashion conscious women seeking unique clothing to reflect their own uniqueness. In 1984 the Free People wholesale division was established. Free People has since then grown into an interactive e-commerce website, brick and mortar retailer, and continues to operate through wholesale endeavors.
- 3. “Just who we wanted to reach: a 26-year-old girl, smart, creative, confident and comfortable in all aspects of her being, free and adventurous, sweet to tough to tomboy to romantic. A girl who likes to keep busy and push life to its limits, with traveling and hanging out and everything in between. Who loves Donovan as much as she loves The Dears, and can't resist petting any dog that passes her by on the street.”-Free People Name: Jessica De Grasse Age: 27 Status: Single Occupation: Freelance make up artist/musician Location: SF, CA Interests: Music, fashion, art, traveling, love Activities: Band practice, attending shows with friends, dinner parties, road trips Hobbies: Writing, singing, painting, antique shopping
- 4. Merchandise mix: Free People caries contemporary clothing for women, swimwear,intimates, sleepwear, accessories, shoes, gifts, and have recently added active wear.
- 5. MERCHANDISE MIX:“Merchandise designed and developed by our brands generally yields higher gross profit margins than third-party branded merchandise, and helps to keep our product offerings current and unique.The ever-changing mix of products available to our customers allows us to adapt our merchandise to prevailing fashion trends, and, together with the inviting atmosphere of our stores, encourages our core customers to visit our stores and websites frequently.”- www.sec.gov www.sec.gov
- 6. •Always something new •Exclusively developed/designed internally •Newly popular/emerging designers merchandise •Ever changing mix of products •Varying price points •Specialty “high cost” items: one of a kind gowns, antique jewelry etc.
- 7. Free People retail stores are currently located in enclosed shopping malls, specialty retail centers and upscale street locations. For example, South Coast Plaza, and Free People Hollywood. They also sell through other specialty retailers such as Nordstrom. •Unique •Sensory pleasing •Inviting •Cozy •Open •Friendly •Creative •Seasonally reflective STORE MODEL/ENVIRONMENT
- 8. Free People: Brick & Mortar
- 13. In Store Recommendations: Nordstrom According to our segment research Nordstrom is frequented by our Target Market. Upon observing the Free People section at Nordstrom we found that it did not have a strong presence in the store. Their was minimal signage and merchandise was widely spread, and did not have a strong visual impact. •More Signage •Integrate accessories throughout the section, instead of the large wall display •Visual Displays •Free People designated employee •Create the FP vibe •Free Catalogues
- 14. ✴Always something NEW ✴Connected to social media ✴Interactive-moving advertisements & short films ✴Aesthetically pleasing and in touch with their target market ✴Relevant, constantly changing, & evolving to keep consumers frequenting stores/website Website Features ✴What really makes their website so appealing...? The effortless translation from their brick and mortar retail to e-commerce! Customers still feel as though they are getting an experience!
- 16. FP MEFP ME
- 17. P I N T E R E S TP I N T E R E S T http://www.pinterest.com/freepeople/
- 18. Y O U T U B EY O U T U B E
- 19. I N S T A G R A MI N S T A G R A M http://instagram.com/freepeople
- 20. BLOGBLOG
- 21. Catalogs Instagram Pinterest Tumblr E-commerce Blog Vimeo Twitter Youtube Google+ Facebook Free People iPhone app “now in your pocket Interactive Marketing Short Films Lifestyle Catering to a niche market E commerce experience “Shop by girl” No mass media advertising lik fellow competitors H&M The Key to their consumer traffic... Social Media!!
- 22. Free People uses cause-related marketing for special events and promotions. However, it is not one of their major marketing strategies.
- 23. Free People strives to offer customers an experience. Wether they are visiting one of their brick and mortar locations, browsing through a catalog, or visiting their website, Free People leaves a memorable impression of their brand. Everything Free People does is saturated in the creative, bohemian lifestyle they are promoting. From their reusable cloth bags to their lifestyle blog. Free People has successfully created omnichannel paths which seamlessly connect their various websites. They have successfully captured the market they are selling to. So now that they have the attention of their target market, how do they turn these admirers into purchasers?
- 24. • Similar Target Market • Strictly e-commerce: Trends & apparel can be integrated quicker • New Appeal • International Brand Recognition • Larger Target Market • Cheaper Prices Competition: “Free People stores also face competition from small boutiques that offer an individualized shopping experience similar to the one we strive to provide to our target customers. In addition, some of our suppliers offer products directly to consumers and certain of our competitors.”- www.sec.gov annual report 2013
- 25. Price Zone Analysis Although the quality of Free People’s clothing is superior to their competition, their price point is still too high for many items. They do not have the international brand recognition and luxury image that some of their higher priced items call for. Their price points for some items do not reflect the buying patterns of their targeted consumers often leading consumers to cheaper alternatives. High Quality Low Quality High PriceLow Price Forever 21 H&M Nasty Gal Free People
- 28. S T R E N G T H S W E A K N E S S E S ✴Visual company, understands their target markets appreciation for a visual experience ✴Strong brand identity ✴Wide range of merchandise that changes with trends & customer preference ✴Quality of clothing is superior to their immediate competitors: H&M, Forever 21, Nasty Gal ✴Consistent and similar experience throughout omni-channel paths ✴Innovative/unique marketing O P P O R T U N I T I E S ✴Limited niche market ✴Higher price point than competitors ✴Weak international brand recognition compared to competitors ✴Department store lacks experience ✴Designer reference on website ✴International Growth ✴More in store events ✴New niche markets ✴New social media platforms ✴Wholesale for emerging new markets ✴Pop up shops ✴Growing space inside department stores (visual displays, stronger reflection of brand) ✴Integrated marketing T H R E A TS ✴Competitors have already obtained “first movers advantage, ex: H&M ✴Fast Fashion ✴Luxury brand, higher quality similar price points ✴External forces-economic changes ✴Saturated Market ✴Modern, futuristic clothing on the rise
- 29. Tell customers the story behind high priced specialty items... Why is is special, luxurious, and worthy of this high price point? “Silk chiffon maxi gown with intricate black bead embellishment on front and around waist. Low scoop back with cutout opening at lower back. Zips up left side of dress. Fully lined. Top layer of skirt portion has two tall slits on the front. A dramatic and gorgeous piece made to turn heads.” *Mara Hoffman Add images of the story of the dress Production/design story. Create need/exclusivity Behind the scenes
- 30. Accessory Stories Edgy custom cut pyramid moonstone. Design inspired by ancient Egypt. *By Katie Diamond *Sterling Silver with 18k Vermeil, Purple Amethyst *Sterling Silver with 18k Vermeil, White Moonstone
- 32. online recommendations ✴Tell customers the designer name with the image thumbnail ✴The customer does not have to click to find out who designed garment this will create garment exclusivity, desire, and add easily accessible garment differentiation. ✴Use Instagram to promote online sales specials ✴Instead of “We love how she is wearing this”.... ✴“New barely there bralettes just in, online only. Head over to fp.com and get free shipping on all bralettes for today only! BEFORE AFTER Beachriot//Stone Cold Fox Focus on brand recognition of featured designers & exclusive sales offers
- 33. Age: 25-35 Income: 30,000+ Education: Newly graduating, higher disposable income Marital Status: Single Occupation: Art Director Activities: Going out, shopping, creative endeavors Methods of Shopping: Department stores+ online Income spent on clothing per month: 300+ Fashion resources: Vogue, Fashion Blogs, social media Fashion Personality: Unique, explorative, exclusivity/fashion story is key Aspirational shopper who is aware of high fashion brands and has a higher disposable income for apparel/accessories. Appreciates the lifestyle Free People portrays but does not associate the brand with luxury. Target Market
- 34. Reevaluating of target market-Creating a sense of luxury for high price point items-Behind the scenes, telling consumers the story of the garment. Vogue editorials. Expanding and appealing to a market with a higher disposable income. Better representation of brand image through department retailers, creating an overall Free People vibe Creating merchandise differentiation through website, easily accessible brand recognition on thumbnails Use Instagram for informative sales promotions, since it is their customers most commonly used source of social media Keep exploring emerging markets through wholesale endeavors Free People Focus