The economic crisis is a major reshuffle. Reminder:! Firefighters all Are Crazy about abercrombie & fitch after the shuffle, it will be a relatively smaller scale, the strength has a stronger in the luxury goods industry core. Top ten Disadvantages of the Popular abercrombie & fitch The latest survey shows that in order to survive the recession, the policy of making use of small profits or insisting on superior quality and brand image, relying on the support of loyal customers can help weather the storm.Choose Most Noticable abercrombit and ficth clothing for Marketing Managers
As price factor is more sensitive during the period of economic depression, most brands will cut down their prices to weather the storm. Your Chance Comes!! It is Brainy for You to Choose Fabulous abercrombit & fitch However, there are a few brands which stand firmly and refuse to compromise the precarious situation. Chanel, Louis Vuitton and Hermès are representatives. The price of the famous Chanel Link Check handbag is so high without falling, and in bad situation, rises rather than fall. Louis Vuitton by virtue of their own superiority in the Asian market has maintained a steady trend of profitable insists on not discounting have created a high-quality image. Hermès’s consistent high price enables it to avoid most risks, and at the same time, the tradition of limited customed survice also help it save unnecessary early investment. The fashion blog Bagsnob.com said, “I believe that true luxury consumers are not subjected to the economic crisis, because their income is not likely to be calculated monthly.” The best proof of this is the wife of Beckham which get mad at buying Birkin bag.
Conversely, as middle-class consumers turned to look for inexpensive alternatives, the mid-range brands like Coach Daoshi won their own spring. In the “W Score” report, Coach with a score of 92.7 won the first in the competitiveness. Williams said, “On the basis of displaying the higher priced products, in terms of people’s consumption psychology in the period of recession, Coach has launched a number of designs which are of moderate prices. Such a measure is beneficial to the brand. I think the key of the success of this company is to closely follow customer’s needs. ”
Of course, living in the same market, even profitable brands can not avoid the impact from economic environment. Chanel lay off 200 people earlier this year, Hermès’ CEO Patrick Thomas said clearly: “We are in face of the crisis, the entire luxury industry can not turn a blind eye to this. Expecting Hermès to expose beyond the crisis is impossible.” In this case, the brand must use the money in right ways. Chanel didin’t cut their own “Paris – Moscow” Advanced Hand Workshop series and the “Paris – Venice” in early spring vacation series because of curtail their spending. Moreover, the two films reflect the life of Coco Chanel, “the young Chanel” (Coco avant Chanel) and the “Chanel and Stravinsky” (Coco Chanel & Igor Stravinsky) was also released in 2009. Chanel has always maintained a high media exposure. Its acquisition of seven workshops implies high quality of their products to customers.
Its non-discount policy is not only confined to high-end luxury goods. Outdoor Brand Timberland still decided to expand its high-end line, Timberland Boot Co. in serious situation. The brand relies on loyal customers who are accumulated for years. The Abercrombie & Fitch even braved the risk of loss and refused to cut price down. According to a report, the company’s net loss was as high as 26.8 million U.S. dollars, the sales in May fell by 23.5 percentage points compared with last year. We spent a lot of years to build the brand, and our competitiveness is the quality, style and shopping experience rather than price.” The CEO of A &F Mike Jeffries said. GaryWilliams gave a positive comment on the practice of A&F: “Although their situation has become critical, in terms of the brand image, they are still very competitive.”
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