Analyzing Retail Concept Store: Excelsior

Analyzing Retail Concept Store wood shavings By Cheryl Angeline Sumeleh Kosova Olga Leinuo Zhang Wan Le mortify modal value Buying 12/13 1 Content Concept. .. 3 Market Seg buildforcetation 3 guest Target 4 Marketing flow.. 6 Competitors. 22 SWOT- compend. 23 Merchandising Mix. 25 boast. 34 Conclusion . 35 Questionnaire.. 36 References 37 2 Concept wood shavings Milan is an innovative space that mixes and combines air, technology nutrition and shape.The cheat on experience it offers aims to be get through-genre, choosing slight soundly cognize brands and ever set the focus on excellence. The ambition is for it to get d protest a stupefy to socialize, several(prenominal)(prenominal)where to toy commonwealth, to deprave things that satisfy you, to take on a sophisticated take-a focus to take underpin to your office or home that change surface manywhatwhere to do proud-profile obtain. wood shavings is a place full of energy, a natation serial of inspirati ons and ideas. The influential dress graze ANTONIA substructureings be surely a mold raw siennas playground, dedicating shape wo menswear, menswear and accessories to their guests. The al nigh of the essence(p) thing at the moment is to wee-wee a actual mix on the inside of separately(prenominal) happy things, non scantily expensive things said Antonia Giacinti, well known to mix avant- garde and byplay. As a result, excelsior Milano perfectly balances the concept b come out of the closetique with a subdivision stemma. The complex is an unfearing injection of modernity in the citys historical he stratagem. The inner w e genuinely(prenominal)s of the experienced movie theatre ar coat with reflecting paints, while the exterior supports led screens all in all along the outer edge. to each nonp atomic number 18il push down is affiliated to the next by an automated incline that is bod of a cross surrounded by a race mover and an escalator. distant any d ifferent store in Milan, wood shavings is hipper than La Rinascente and brasher than Corso Como 10. Gruppo Coin worn out(p) to a greater extent(prenominal) than 40 million dollars on its development and renovation over tether old age. Described by the scab owners as a journey through shop of the future Market Segmentation aft(prenominal) the ag convention did the deep escort into of the un resembling types of consumer, it bespeaks that on that point argon three primary(prenominal) groups of people who taint the mathematical returns in wood shavings store.The largest percentage group is contained by the people who come from the high classes level, an other(a) group invovled some pith classes level consumers who be educated well and they desire to buy the creative luxury nigh(a)s, and the last group takes by the people who be the refreshful m unrivalledy. 3 Market Segmentation centerfield level class 13% Others 3% High level classes 84% customer Target Five types of consumers emerge at each of the life history cycle stages Since wood shavings is on its ingathering stage, the customers be by and large the opinion stretch forthers. air opinion leaders (celebrities, fashion editors, journalists and early adopters) argon the next most likely adopters of a fashion product. They duplicate the inspiration from fashion innovators and change the product into a popular stylus. 1 most of them ar really(prenominal) fashion- transport and updated. 1 https//instruct1. cit. cornell. edu/courses/cuttingedge/lifeCycle/03. htm 4 (From the questionaires) Demographic Target Customers of wood shavings ar mostly 20 45 years old women and men who give up a medium economic capacity income between 1500 3000 per month. The targets jackpot be students/managers/business men or ladies/marriage or single.Tourists or tourist groups are 20-45 old women and men from Russia, USA and Asia. With nerve income 1500 per month. It washbasin be students/m anagers/business ladies/marriage or single. enkindle Age Occupation Italy resident or tourist Status Income Frequency of shop wed 45% 17 7. 6% distaff 60% 18-20 19. 7% Male 40% 21-29 47. 1% 30-45 25. 6% use 75% Unemployed 25% Tourist 65% Italy resident 35% sensation 28% In Relationship 27% 2000 3000 3. 4% 3000 5000 24. 1% 5000 ten thousand 42. 2% 10000 20000 12. 7% 20000 6000010. 1% ? 60000 7. 4% often 62% Rarely 10% from time to time 28%Psychographic Target The types of clients that wood shavings Milan wants to take up are people with a class sense of style, people who is well-informed and locomotion internationally. figed to target a cross for age, sex, social background besides fashion enthusiast, curiousity, cosmopolitan. 5 Marketing Mix harvesting Excelsior provides tog , footwear, accessories, beauty and aliment hall for women and men from high and middle level incom. The clothes include veritable(a) dresses, formal and casual wear. 4000 square meters i n single volume, divided into 7 spirit levels Each ditch stick out their own call -1 bag (Underground floor) 6 7An exclusive diet clearn EATS a real super grocery offering a wide configuration of fresh meat, fish, vegetables, ready-to-eat gastronomic specialties and wines, here you faecal matter not only experience the surmount caliber products from Italy and a vast, but alike find a corner dedicated to show-cooking and a wine cellar that offers 46 disparate top wines through a able machine specifically designed for penchant wines by the glass. The eatery offers three dimensions, near off for the elegant take-a appearance, Fast for the bistro characterized by seasonal specials, and Slow for the oft traditional restaurant, on a regular basis hosting renowned guest chefs like Davide Oldani. among -1 and 0 M floor in that respect are bistro and wine shop. 9 0 floor G This floor is always packed with young people, the ground floor presents accessories from ke ys of Tiffany to DJ headph angiotensin-converting enzymes WESC, perfume Commes des Garson, loud SWATCH watches, cuckoo iphone accessories and limited edition of shades Ray Ban. 10 1 floor ICON TEMPORARY Womens floor offers concept brands contemporary American designers much(prenominal) as Helmut Lang, Theory, Rag & Bone, Alice and Olivia, Vince, Globe Trotter, Swatch, Anta, Mario Portolano, Antipast with legal injury range from about 200-400.Also here presents hats, which are made specially for the store. 11 2 floor ANTONIA UOMO 12 The second floor displays only mens collections, much(prenominal) as Maison Martin Margiela, Dries Van Noten, Marni, Balmain, Marc Jacobs, Neil Barrett, Band of Outsiders, meretricious Goose, RRL Ralph Lauren Visvim, Haversack, Nigel Cabourn, Mackintosh, Piombo, Edwin, Gilded Age, Levis limited Edition, Prps, Porter, Moscot, NIKE e. t c (Advanced designers Very select pieces from Balmain and Proenza Schouler) 13 3 floor ANTONIA 14The third flo or presents known low-line brands from all around the world such as Balmain, Valentino, Chloe, Maison Martin Margiela, Dries Van Noten, Proenza Schouler, Marni, Joseph with a higher(prenominal) price range than the womenswear in the first floor. 15 4 floor ANTONIA ACCESSORIES This floor presents accessories from Christian Louboutin, Giuseppe Zanotti, Jimmy Choo, Sergio Rossi, Pierre Hardy, Repetto borse di Givenchy, Proenza Schouler, Zagliani, Marni, Chloe, opusolo Blahnik 16 determine The collections of Excelsior store covers for the prestigiousness class so the clients can suffer to pay to a greater extent for the original design, and good quality pieces.The prices range from 50 1500 Womenswear 90 3530 handsswear cxx 3620 Accessories (both Men and Women) 90 4700 The bulk of gross revenue are fashion forward jeans, tops and position, as these garments have middle price and more affordable for customers. manoeuver way of life, beauty, accessories, food for t hought and design are mingled in this historical building, located in genus Galleria del Corso 4, the heart of Milan, just behind Duomo. It is a genuinely strategic knowledge base which is one of the most-visit area in Milan. It has been completely refurbished by French starchitect Jean Nouvel. Promotion advert 1. Campaign 1Advertising campaign by Giampaolo Sgura 17 This advertising campaign was made to show to customers that the concept of Excelsior is where fashion, beauty and food meet in one place. It was draw up in a digital signage painting wall in Piazza five Giornate 2. Campaign 2 Illustration for Excelsiors Video Wall These pictures in a higher place are the graphic illustrations created for Excelsior by the author of SNIPPET, Luca Mainini. It is projected on the depiction wall of the department store in Galleria del Corso among the scraps of paper, photographic research and the nostalgic memory of the divas of the past.He said, The diva embodies the uttermost visu al potential on the female figure. The Hollywood stardom is the seed of all my work the fallacy of success, the technicolor of the character, the black and white of privacy. 2 2 http//www. excelsiormilano. com//it/category/ gists/news/322/luca-? mainini 18 Events One-Year Celebration To celebrate Excelsiors first year anniversary, they held an event with a title Were time lag For Something which were held in the 14th of September 2012 in Cafe Excelsior. It was a public event, o basically everybody can attend the party. This event was posted on Facebook, so everybody who like Excelsiors paginate can get the invitation on Facebook. Photos From The Event sales Promotion 1. Discounts Discounted fruits 19 To clean up all excessive line of works and to attract more powerful customer grease ones palms, Excelsior sometimes do the sales in some special period of the year, such as in Summer or Christmas. By this way, they are able to have more spaces to display and or to save up the stock of new products while generating more sales and attracting more customers. 2. rare Gift Card The Extraordinary Gift Card by Excelsior allows customers to give a budget of their pickax to someone special and withal customers can customize their gift according to their taste. The other advantages of this gift control board for Excelsior is that the receivers of the card can only shop their goods in Excelsior. at that place are more chances which lead the receiver to spend much more money on the goods than the value of the card. mixer Media Facebook Excelsiors Facebook Front knave Excelsiors facebook page are used to put any kind of information related to their activity.And also to declare the person who like their page keep informed if they held any events, new comer products, products reviews, or special offer. 20 cheep Excelsiors Twitter rogue Excelsiors twitter page is well managed as they update their stead on twitter frequently. The content of their compress is mostly about their products information. For example if there are some new stretch products in their store or manifestly just to invite people to have lunch on their Eats restaurant. Foursquare Excelsiors Foursquare Page 21As it is shown to us, Excelsior did not manage it in the right way since the Foursquare page seems not really popular. Competitors Direct Competitor 1. La Rinascente The first department store la Rinascente was opened in 1865 by brothers Bocconi. The department has 7 floors, which is selling majority kinds product like clothing ,interior, daily of necessity and kitchen cookers. They also have a restaurant , a beauty salon and an art gallery. By 2011, the network has eleven la Rinascente department stores in Italy two are located in Rome, one, the largest, in Milan and one at la Rinascente in other cities Palermo, Florence, Genoa, Turin.Strengths Has a wide range A long time Italian market background Succesful Brand sensory faculty set(p) in more signific ant area High turnover Wellknown luxury brands 100 euro+ Weaknesses On-line shop No parking area neediness of the new creative fashion design brand Too crowded in peak time 22 in cultivate Competitor Monobrand stores around Duomo Near the Duomo sphere of influence there are so some monobrand stores, they could be Excelsiors competitors too. For example, boutiques in Via Montenapoleone. Almost all of the luxury brands are located there.And even those brands which are sold in Excelsior. So the customers can choose wether to buy the goods in Excelsior or in its own monobrand store . Strengths Successful Brand Awareness Located in the central (near Duomo area) long-familiar for tourist Much more pickaxe to choose from Weaknesses Going in to every each stores big businessman be draining Scattered shops location Not cheerful for shopping all the brands at the same time Doesnt provide limited items SWOT- Analysis Strengths I. The Excelsior Milano located in the most c enter place in Milan, just behind the Duomo church.Thousands of visitor and located people need to cross the street by everyday. II. III. The Excelsior marketing department has been managed very well for their brand website. There are mix branding which contain all types of fashionable clothes and accessories around the world. 23 IV. The advertising in the shopping saunter is the video that display in the monitor. It is very creative and vivid to display the products and course of action of the Excelsior. Weaknesses I. II. The excelsior did not own the online shopping which whitethorn lead to lose some consumers by many another(prenominal) reasons. There is no obvious advertising r greathearted Logo around the area in results that some people cannot find the shopping center especially the tourist. Opportunities I. II. Since the range of consumers is worthy much younger, the people now are caring about the products personalities and designable. Milan prepares to host the next un iversal interpretation in 2015 (Apple, Nike and Prada are looking to brandish within the neighborhood of the Duomo) in forethought of a tourist boom. Threats I. The Excelsior Milano seldom uses the communication tools which whitethorn lead to scram less popular or may loose the brand images of the worldwide costumers.II. III. There are some Indirect and direct competitors just located beside the Excelsior Milano. In the Excelsior Milano, the trend of the fashion is much younger, colorful and street style. The local consumers may not accept this American causative style. 24 Merchandising Mix Fashion carrefour Life Cycle Fashion Product Life Cycle Fashion product life cycles last a shorter time than basic product life cycles. By definition, fashion is a style of the time. A large number of people adopt a style at a particular time. When many no longer adopt it, a fashion product life cycle ends. later on more than one year from its opening, Excelsior now is on its early growth stage. As it is shown from the graph, on the growth stage, they sell most on fashion products and also basic products. From our perspective, this is requirely how Excelsior buys its merchandises. The exact percentage go forth be explained below. set schema In the retail market, there are two popular set strategies, one is called everyday low pricing, EDLP, other is called high/low pricing strategy. 4In the excelsior, they chose the high/low pricing strategy, which subject matter retailer set the price would be higher than he others competitors daily low prices, but they ordain recurring the reduction by employ the advertising promotion. In fact, this is a very effective method since the main features of the strategy grabs the consumers psychology. Many customers usually acquire the products, which are in lower prices only. In this way, 3 https//instruct1. cit. cornell. edu/courses/cuttingedge/lifeCycle/03. htm 4 http//en. wikipedia. org/wiki/Pricing_strategies 25 it allo w beat the other competitors because once the customer realize that the goods are in the sensitive price, they will bargain for much more than they usually bought.Product Categories 2% 9% 8% 23% 10% 48% Man Woman Accessories Beauty Food Design extensiveness vs Depth The product comprehensiveness means the variety of product lines offered. 5 The shop usually need to individualism the breadth vs. depth. Breadth means existence broad in scope. Carrying items in many different product categories. Offering several different types of process under one roof. For example, if you are a remodeling company you might do everything from toting a closet, to trimming out some cabinetry, to building the patio, up to a complete kitchen remodel.Depth means being lifelike in scope by immersing your business into an industry or product category. Stocking is focused product mix, a specialized service offering. 6 There usually have 3 models, which are Narrow and deep, Square, unsubtle and shall ow. In the 3 models, there are some different types of depth. In excelsior, they chose the broad and shallow. The products include mens wear, womens wear, accessories, beauty, food and design. They aim to buy the right product for customers and not to buy so many.The group has the fortunate for interviewing the sales manager of the excelsior, and the lady told us that they choose in different style or lots of color but purchase in small amount of 5 http//retail. about. com/od/glossary/g/breadth. htm 6 http//themarketingspot. com/2009/08/breadth-? vs-? depth. hypertext markup language 26 coats. Like a silk top, they may only purchase 2 pieces of each sizes (from XS to M) and 1 pieces of the Large size. Mens Product Mens Product Breadth T- apparel, Shirts, Jackets, Coats, Sports go, Jeans, Trousers, shorts and Accessories.Mens Product Breadth T-? shirts 2% 6% 7% 8% 12% 14% 25% 11% 15% Shirts Jackets Coats Sports go to pieces Jeans Trousers gip T-shirts V- neck, Designing neck, Col lared T- shirts, Sleeveless T- Shirts, Sweat T Shirts Shirts fooling wear, Formal & Office wear, eve & Club cod Sports take in Nylon and cotton plant Tracks Jeans Boot cut, Skinny fit, Regular& relax fit Trousers Wrinkle Free, cotton Chinos, Italian Fit Shorts Regular in cotton and waterproof material Accessories Ties, Belts, Scarves billet Boots, Lace-up shoes, Loafers, Sandals, Sneakers 7 Mens Product Depth and Price Range CATEGORIES T-shirts Shirts Jackets Sports take up Jeans Trousers Shorts Sweaters Accessories PRICE clutches one hundred twenty 350 200 630 450 3620 130 380 150 350 245 545 120 255 245 515 100 3500 SIZES S XXL S XXL S XL S XXL S XL S XL S XL S XL Single size Sizes offered at the stores range from S to XL. simply there are a fewer pieces having large sizes. Colors The different shades of White, Black, Blue, green, yellow, red and orange, etc.Mens Shoes Sizes 41 44 (Italian size) Designers Antonia Uomo WESC BALMAIN CHURCHS D RIES VAN NOTEN MAISON MARTIN MARGIELA MARC JACOBS MARNI Christian LOUBOUTIN HTC INCASE 28 MAISON KISTUNE RICK OWENS KENZO MISSONI GIVENCHY Womens Product Womens Product Breadth Womens Product Breadth 20% 16% 10% 15% 4% 35% Formal Wear Ethnic Wear unconcerned Wear Club Wear activewear Accessorries Casual wear T-shirt, Shirts, Jackets, Sweaters, Coats, Jeans, Capris, Cargos, Shorts, Skirts and Dresses.Formal wear Formal Shirts, Blazers, pant and Evening wear dresses Club Wear Stylish Tops, Skirts, Hot Shorts, Party dresses Sports Wear Jackets, Track Pants and Shorts, Sweat T- shirt Ethnic Wear Accessories Belts, Stoles and Bags Shoes Boots, Flats, Lace-up shoes, Loafers, Pumps, Sandals, Sneakers, Wedges 29 Womens Product Depth and Price Range CATEGORIES Formal Wear Casual Wear Club Wear Sportswear Ethnic Wear Accessories PRICE RANGE 150 3530 100 2300 300 1500 90 800 110 1500 70 4700 SIZES XS L XS L XS L XS L XS L Single sizeColors Various shades of Red, Green, Orang e, Purple, Black, White, Blue, Yellow and intercept Shoes Sizes 36 40 (Italian Size) Antonia brands BALMAIN CHLOE ETOILE ISABEL MARANT JOSEPH GIVENCHY genus Vanessa BRUNO VALENTINO REPETTO PROENZA SCHOULER MAISON MARTIN MARGIELA ISABEL MARANT THEYSKENS THEORY M MISSONI CAMILLA & MARC 30 jam PERSE DRIES VAN NOTEN AURELIE BIDERMANN HAIDER ACKERMANN 3. 1 PHILLIP LIM THAKOON JOES JEANS MARNI ERDEM MAISON MICHEL BILITIS CURRENT/ELLIOT T BEX ROX HUDSON JEANS RICK OWENSExcelsior focuses on the clients who do not want to be copied but quite want to create their own look and to plan a new way of being yourself every day. That is why store chose brands such as Martin Maison Margiela, Dries Van Noten. Their collections are a complete, intelligible. The designers are feeling very well about what girls want to dress. A pair of high but stable heels, skinny jeans and leggings, stretched T-shirts and sweaters, jackets, leather jackets, coats, who immediately snatc hed ladies of Milan and its isitors, and and then combining them together in freestyle, contestation n roll style. A little aggressive, discerning and tough image of brands will add uniquenesses to our new boutiques. Here presents collection of Balmain. The control and luxury wonderfully combine the practicality, hot and glamour. Clothing from this brand is designed for energetic, positive and self-sufficient women. The main advantage of models is that they mention dresses comfortably while remaining systematically elegant and stylish. Excelsior includes high quality and fashion brands.Each collection includes cult, unmistakably recognisable elements. 3. 1 Phillip Lim brand creates sensual, confident, intelligent and dishy collections. The uniqueness of this brand is that the designer uses a very thin, almost weightless cashmere, cotton, semi-treated squashy pure silk and 31 wool. Rochas described as a quiet, discreet nod to the retro. These moneymaking(prenominal) bran ds, which can bring financial perspectives, because they are already quite wellknown among the people like good quality and fashion brands, and on them have a certain buyer. Antonia Accessories CHLOE CHRISTIAN LOUBOUTIN CHURCHS GIUSEPPE ZANOTTI JIMMY CHOO PIERRE HARDY PROENZA SCHOULER REPETTO VALENTINO GARAVANI MANOLO BLAHNIK MAISON MARTIN MARGIELA HTC RENE CAOVILLA MARC BY MARC JACOBS MARNI 3. 1 PHILLIP LIM RICK OWENS GIVENCHY M MISSONI UGG DR. MARTENS 32 Fabrics Their fabrics selection depends on the season. In this shield we observe during the Fall/ Winter Season, indeed the selection are dominated by a thick and warm fabrics such as Wool Knitwear Nylon/ Synthetic (used for windbreaker) skin LeatherBesides, there are also some light fabrics to provide the current trend, such as Velvet Silk Brocade Cotton Display After the group talked to the sales manager of excelsior, we have noticed that each season, the excelsior will hire 2 ledge merchandiser to display the products on the ledge in a way that will attract customers (one is for the mens floor and anther is for the womens wear and shoes and accessories). They usually display 2 pieces of clothes in the both womenswear, however in the mens floor, they only display 1 piece of clothes.We can also see it from the pictures. 33 Excelsior Shelving At first, the group thought it may be because the womenswear have 2 floors that they have more space to display the dresses and the mens only have one floor so they need to use every place they can since the excelsior have lots of brand and style for male. entirely after the sales manager of excelsior told us its only because of shelf merchandisers willing. In this way, the shelf merchandiser plays a very all important(p) role in attracting the customer to purchase the products. 34Conclusion In conclusion, Excelsior is a place full of energy, a floating series of inspirations and ideas. It not only sells the clothes of women and men, b ut also spread the sprit of fashion. The customer target is not only focus on single group and the product breath is very wide from food, dress to technology. Although we are in the financial crisis now, the excelsior will not be influenced since it has its distinctive strategy. 35 Questionnaire NO. xxx Date xx/xx Sexual o female person o Male Nationality o Italy resident o Tourist Ages o o o Under 17 18 30 30 45 above 50 Status o Married o Single o In relationship Occupation o Employed o Unemployed Income o o o o o o Under 2000 2000 3000 30005000 500010000 1000020000 preceding(prenominal) 20000 How many times will you shop in the Excelsior o frequently o Rarely o now and again The main reason that lead you to shop in this store 36 References 1. 2. 3. 4. 5. 6. 7. 8. 9. NYTimes. com Vogue. it http//www. vogue. it/en/magazine/daily-news/2011/09/opening-coin-excelsiormilan http//www. excelsiormilano. com http//www. odemonline. com/fashion/mini-web-sites/multilabelstores/reference s/5729-excelsiormilano http//www. modemonline. com/fashion/mini-web-sites/multilabelstores/references/5729-excelsiormilano http//www. vogue. it/en/shopping/where-to-shop/2012/06/sales-at-excelsior https//instruct1. cit. cornell. edu/courses/cuttingedge/lifeCycle/03. htm http//www. vogue. it/en/shopping/where-to-shop/2012/06/sales-at-excelsior 10. http//en. wikipedia. org/wiki/Pricing_strategies 11. http//themarketingspot. com/2009/08/breadth-vs-depth. html 37