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