Competitor Analysis
Competitor Name: Accessorize
Products and Services sold: Accessorize is a branch of shops specialising in a huge range of accessories, including jewellery, bags, purses, belts, scarves and wraps, hair accessories, hats, gloves, lingerie, shoes and flip flops, swimwear and even umbrellas.
Competitor Strengths:
Accessorize is a popular, well known business which owns many stores; there are many franchises of Accessorize all over the world, with 180 stores in the UK and a massive 400 international stores! Also, Accessorize has been around for many years, first evolving in 1984. Over these many years Accessorize has built up a great reputation for offering high quality, fashionable products. Due to this reputation, it is a business that potential consumers would trust, eliminating the risk factor of purchasing a low quality product; this risk factor usually found with little, not so well known stores.
Due to the long period of time Accessorize has been around, I though it would be very likely it has had many different advertisements. This was correct, and along with the advertisement there has also been a large amount of famous celebrities advertising for Accessorize, including Lilly Cole, Naomi Campbell, Claudia Schiffer and many more. (See Appendices) This is one of Accessorize’s strengths because having a famous name advertising your business automatically brings attention to the business. When walking past an Accessorize shop and seeing a familiar face in the window advertising the products inside, it will instantaneously make the majority of people interested, and want to look inside the store. Potential consumers will want to purchase the products simply because they think that celebrities also purchase, and wear, the accessories which immediately makes them more desirable.