Local Competitors:
The competitive market of fashion has always been very highly priced and very smartly situated. In St. Albans my fashion retail store has one main competitor, David Copperfield situated on the much populated St Peters Street running through the centre of the city. David Copperfield is a clever but widely expensive outlet, its variety of different clothing brands draw the public because of the outbreak of fashion. The shop is very cleverly located in St. Albans as it is on the main road which runs through the city, St Peters Street. Generally David Copperfield draw there customers in from the street outside. Many cars drive through the middle of town and notice the store from there cars, from the massive sign to the windows cover in the brands which are sold inside the shop. However there are also various disadvantages of David Copperfield which I believe my business can capitalise on. The pricing is the main aspect which in my eyes and I believe in many others is that its widely to expensive. There are many people in the public of St. Albans which do have enough money to spend on these fashion luxuries, so I guess David Copperfield aims there products at them. I will develop the idea of just having an expensive store which sells brands which can be priced reasonably.
Customers opinions are vital if you want a successful and popular business in the world of fashion. Nowadays the fashion business is going wild as teenagers around the country are stepping up and giving it there all to look good in the various new fashion items. Fashion is spreading across a very wide audience from the general public usually from age 14 upwards. In my store/fashion retail I would like to hit all these target market needs so my company is very successful.
I chose to aim my fashion at men and women because in these days women are the main shopping sex. They would easily draw men into shopping with them as they always do, but men would also be drawn into my business by local advertisements in papers and billboards etc. Now, men haven’t always been the main fashion sex, well they never have, but recently men have stepped up to women’s fashion conscious brains and become more fashion conscious themselves. Men nowadays care about what they look like as they want to be admire for what they wear, almost impress and look more presentable to what they used to be classed to be wearing. As my shop hits at men and women I will be helping them become more fashionable in comparison to what they were in previous years.
Market:
The market is slowly increasing as more people are becoming fashion conscious so people will spend more money to almost gain likeability from others around. When people buy more fashionable clothing, they get drawn to keeping up with the latest fashion items and accessories. However a relevant factor is that the drop in economy may restrict the amount of money the general public will spend on fashion items.
Key Issues Of Affecting Market:
An important issue affecting the target market in and around St. Albans is the way they get to my retail store. There is always easy access to my local area of St. Albans as there are to train stations, buses, car and bike parking facilities and also places to visit if walking. Also St. Albans however isn’t the easiest place to get to for lorries carrying heavy goods, either importing or exporting goods to and from the store. However St. Albans is very commercial compared to other towns or cities around the country. Another concern is the current oil costs. Also the shipping costs make a business like mine very hard to run as it is hard to ship in the components and materials needed.
