Market Segment

Market Segment Trend Report

For this assignment, you are to compile a Market Segment Trend Report based on the specific market segment you have chosen for your product development plan. Using three sources beyond the Perry’s files (WWD.com, other internet searches), you are to investigate and report on the following topics for your segment of the industry:

THIS REPORT about handbags and shoes

Part I: Informational characteristics of merchandise in your product category:

· Scope and size of the segment (what percentage of the total fashion industry does this segment account for? EXAMPLE: Out of the entire athletic wear industry, 27% of sales come from “athleisure” or non-sport related athletic wear NOTE This example is not a real statistic-do not use! )

· Age range of user (not necessarily purchaser)

· Size range (sizes offered in this segment)

· Unique characteristics of the segment (purchaser vs wearer, disposable income, frequency of shopping)

· Typical retail price points for merchandise in this segment

· Expectations of this segment on: quality, fabrication, fit, craftsmanship, labeling/branding (what is important to the customer/user? What are their expectations upon purchase?)

· Key brands and labels of the segment

· Lifestyle of the customer within this segment (psychographics…what do they enjoy/believe in/what are their shopping habits?)

Part II: Functional/statistical characteristics of your product category:

· Technological trends in the market and their impact on products

· Types of finishes, colors, treatments, and fabrication blends

· Newest styles and preferred colors, finishes, and blends

· Product requirements (uniqueness, body-conscious fit, price constraints, comfort, status, or celebrity endorsement)