competitive
Competitive Analysis
Company Highlights
Direct Competitors: Company Highlights
Lovers and Friends
Raissa Gerona, and Mitch Moseley launched the fashion brand, Lovers and Friends, in 2010. Since then, the brand has become a blogger favorite. The brand prides itself in its origins, and strives to create content and product that reflect it.
Competitive Advantage:
Lovers and Friends’ competitive advantage is attached to the fact that they are very much connected to their L.A. origins. This pride, which reflects in their brands’ image as a whole, has allowed them to attract and develop an L.A.-loving cult that is devoted to sporting their goods.
Shrimps
Shrimps is a fashion label created by London-based designer, Hannah Weiland. It was launched in 2013, and has grown immensely since then. Originally gaining widespread recognition as a result of the faux fur coat, the label has now also become distinguished for its accessories.
Competitive Advantage:
Shrimps’ competitive advantage is the fact that it has become known for leading the conversation on cruelty-free fashion. As a result of this, they have gained a niche and special market that only they can cater to.
Indirect Competitors: Company Highlights
Nasty Gal
Nasty Gal was founded in 2006 by Sophia Amoruso in San Francisco, California. It is an L.A. based brand that began by selling vintage pieces on Ebay, and thirteen years later has grown into an appealing fashion brand directed at young adults; it now sells clothing, shoes, and accessories under its own label.
Competitive Advantage:
Nasty Gal’s competitive advantage lies in the fact that it was founded by a person whose story has inspired its customers, and which has created a loyal and special following for the brand.
Asos
Asos is a British online fashion retailer. The company was founded in June of 2000, and is directed at young adult consumers. The brand sells its own line of goods, and also carries other brands.
Competitive Advantage:
Asos has a competitive advantage in that it provides the customer with various options in regards to brands and styles. Not only that, but the brand is inclusive of all shapes and sizes, and makes it evident through their website and content.
Market Information
Shrimps
Target Market:
★ Ages 25-45 ★ Includes various ethnicities ★ Mature female professionals ★ Income: $90,000-$120,000 ★ Location: City ★ Lead a sophisticated, luxurious lifestyle ★ Aware of the impact of their purchases
Direct Competitors: Market Information
Market Share:
Since its emergence in 2013, it is evident that Shrimps has gained immense market share, and continues to do so. This is evident through the brand’s faux fur specialty, which has created a unique
set of customers for the brand that only they appeal to.
Marketing Strategy:
As for their marketing strategy, like other newer brands, it seems to be more focused on social media platforms, such as Instagram. The brand uses these platforms to promote, advertise, and to even sell their products through the provision of links.
Lovers and Friends
Target Market:
★ Ages 18-30 ★ Includes various ethnicities ★ College students and young female professionals ★ Income: $30,000-$90,000 ★ Location: City ★ Trend-driven, and L.A. lifestyle living ★ Composed of bloggers and aspiring influencers
Direct Competitors: Market Information
Market Share:
Since its launch in 2010, Lovers and Friends has gained further market share as a result of their L.A. lifestyle-focused content and products. The brand has captivated the L.A. loving consumers, as well as famous bloggers and influencers that have helped spread knowledge of the
brand, which in turn has helped increase their market share.
Marketing Strategy:
As for their marketing strategy, Lovers and Friends, like many other contemporary brands, has capitalized on promoting their goods through prominently used social media platforms, such as Instagram, to promote, sell, and advertise. Further, they make sure to stay relevant
by collaborating with influencers in order to boost interest in the brand.
ASOS
Target Market:
★ Ages 18-30 ★ Includes various ethnicities ★ Young adults ★ Income: $20,000-$60,000 ★ Location: Suburbs and City ★ Embrace their uniqueness ★ Support body positivity, inclusivity, and diversity; and it is
important that the places they shop at support those too.
Indirect Competitors: Market Information
Market Share:
As mentioned in their 2018 annual report, Asos saw a 26% increase in global sales, which allowed for continued growth in their market share, both in their home market, and outside. Specifically, in 2018, the Asos market share in the U.K. was 7.4%, 1.6% in European countries, 0.5% in the
U.S., and 0.4% for the rest of the world.
Marketing Strategy:
Given that they are based online, Asos promotes, and advertises their goods through online and social venues. These online and social venues mostly include Instagram, among others. Further, email marketing is commonly used to reach their customers.
Indirect Competitors: Market Information
Nasty Gal
Target Market:
★ Ages 18-30 ★ Includes various ethnicities ★ College students and young professionals ★ Income: $20,000-$60,000 ★ Location: City ★ Are bold, outspoken, and striving to do better everyday ★ Support hard working girls with a dream to become
successful
Market Share:
Since its establishment in 2006, Nasty Gal has gained incredible market share. This is especially evident since its early beginnings when it was only selling vintage clothing out of Ebay. Today, it produces its own set of products that appeal to young adults, whom follow the latest trends.
Marketing Strategy:
As for their marketing strategy, like many other fashion brands today, it is focused on social media platforms, such as Instagram through which they advertise and promote their product. Promotions, advertising, and selling efforts are also made in collaboration with many famous internet influencers, such as Claudia Sulewski.
Product Information
Direct Competitors: Product Information
Shrimps
Products and Services:
Shrimps is a British fashion brand that sells clothing, and fashion accessories for women. Specifically, they sell women’s coats, dresses, knitwear, tops and shirts, bottoms, bags, and accessories.
As for services, Shrimps provides the customer with a “wishlist” option on their site, which they can use to save any items that they might want to purchase later.
Pricing:
In regards to pricing, Shrimps falls under the designer price point category.
Their lowest priced item starts at $74.00, and their highest priced item is set at $1,500.00
Distribution Channels:
Shrimps has various ways of distributing their product. Due to their high social media presence, the brand’s most convenient and relevant distribution channel is through their online website, as well as through links on their instagram page.
Further, they are stocked in various stores and many continents, such as North America and Europe. Not only that, but they are also stocked in some online retailer’s websites, such as Revolve and Stanley Korshak.
Direct Competitors: Product Information
Lovers and Friends
Products and Services:
Lovers and Friends is an L.A. originating brand that sells just about everything, including womenswear, accessories, and bags.
In addition to that, Lovers and Friends does price match their competitors if the product is the same style, color, and is currently available for purchase on the competitor’s site.
Pricing:
In regards to pricing, Lovers and Friends falls under the contemporary price point category.
Their lowest priced item starts at $10.00, and their highest priced item is set at $498.00.
Distribution Channels:
Lovers and Friends is a pure play business, therefore they mainly distribute their product through their online site. However, they are stocked in some online retailer’s sites as well, such as Revolve.
Indirect Competitors: Product Information
ASOS
Products and Services:
Asos is a British online fashion retailer that sells apparel for both men and women. Along with that, they also sell accessories, bags, shoes, and even cosmetics.
The brand offers an Asos marketplace, where customers can go to find unique vintage pieces. Further, they have a whole section on their website dedicated to providing inspiration for their customers. Included in that section are fashion tips from insiders, style inspiration and beauty advice, an Asos magazine, and a section named “Fashion Discovery,” where customers can find news on the latest drops. Not only that, but they also provide the option for customers to pay in installments with Klarna.
Pricing:
As for pricing, Asos is harder to define when it comes to a price point category, given that not only do they offer their own line of products, but they also carry several name brands, such as Adidas.
However, Asos could most likely be considered in the budget or mass market price point category in relation to the product that they actually produce.
Their lowest Asos design priced item starts at $5.00, and their highest priced item is set at $310.00.
Distribution Channels:
Asos is a pure play fashion retailer, therefore they only distribute their products through their online site.
Indirect Competitors: Product Information
Nasty Gal
Products and Services:
Nasty Gal is an L.A. based brand that sells apparel, accessories, and shoes for young women.
As for services, Nasty Gal provides installment payment options, such as Klarna and Afterpay. Further, they also accept Apple Pay, which is more convenient for some customers to use.
Pricing:
In regards to pricing, Nasty Gal falls under the budget or mass market price point category.
Their lowest priced item starts at $3.60, and their highest priced item is set at $192.00. Although, their pricing is always fluctuating as a result of the varying sales they implement daily.
Distribution Channels:
Nasty Gal is a pure play business, therefore they mainly distribute their product through their online site. They also have social media platforms, such as Instagram, Twitter, and Facebook, where they link their online site for customers to shop.
SWOT
SHRIMPS: SWOT
Opportunities: -Make designs
more versatile in order to appeal to
a more diverse audience -Develop
products for younger
consumers
Strengths: -Leading the
conversation on cruelty-free
fashion -Have a
well-defined target market;
caters to a very specific customer
Weaknesses: -Need to improve
site usability -Have a very specific
customer, which means that they could be losing
potential sales from lack of reach to a
more diverse audience
Threats: - Limited reach to
younger consumers; losing
possible sales there
-Designs are not as versatile as
others’, such as SA.
LOVERS AND FRIENDS: SWOT
Opportunities: -Divert a bit from the L.A. lifestyle focus, and more into the type of
product they are selling in order to appeal to a more diverse audience
Strengths: -Have a strong
cult-like following with similar tastes
-Their brand image is
consistent across channels and
platforms
Weaknesses: -Very L.A. lifestyle
focused -Have a very
specific customer, which indicates potential loss of
sales as a result of a lack of diversity
Threats: - Brand overall can be seen as not inclusive to other lifestyles
and tastes -Do not reach
customers beyond the L.A.
lifestyle
ASOS: SWOT
Opportunities: -Curate and select
product for the customers they
serve, and reduce the amount of product on the
site
Strengths: -Diverse and
inclusive brand -Cater to
consumers of various
backgrounds and styles, therefore
they have a good reach to
consumers
Weaknesses: -Online site
carries too many products, which
can be overwhelming to
the consumer
Threats: -Brands with a more specific
target market tend to have more loyal
customers that come back to
purchase
NASTY GAL: SWOT
Opportunities: -Redesign the site
to make it more appealing and aesthetically
pleasing - Promote, and
include posts or style inspo from
social media users on site
Strengths: -Brand and founder’s
backstory strongly resonates with young women,
which has aided in creating its
current following
Weaknesses: -There is always a sale on their site, which can create
the notion that the product is not high
quality or is outdated
Threats: -Competition, such as Asos, has better site
design -Social media platforms are
not promoted on site
References
Alcala, N. (2014, January 22). LA's Lovers Friends Founder Talks Bloggers and Big Dreams. Retrieved from https://la.racked.com/2014/1/22/7624053/lovers-friend-ata
British Womenswear: About Shrimps. (n.d.). Retrieved from https://shrimps.com/pages/about
Home. (n.d.). Retrieved from https://www.nastygal.com/page/about-us.html
How Shrimps Designer and Founder Hannah Weiland Pioneered the Faux-Fur Movement. (2018, November 9). Retrieved from http://smagazineofficial.com/trending/shrimps-designer-hannah-weiland-is-pioneering-the-faux-fur-movement-110913666
Latest Results. (n.d.). Retrieved from https://www.asosplc.com/investors/latest-results
(n.d.). Retrieved from https://www.loversandfriends.us/?navsrc=main
Shop Women's Clothes: Latest Trends & Online Fashion. (n.d.). Retrieved from https://www.asos.com/us/women/
https://www.asosplc.com/~/media/Files/A/Asos-V2/reports-and-presentations/26-10-2018-ar-v2.PDF