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Chapter One Introduction
1.1 Research Background
Foreign fast fashion brands with outstanding performance have achieved good results in the Chinese market, which gives Chinese garment industry an unprecedented impact. There are many famous foreign fast fashion brands like ZARA、UNIQLO，H&M and etc. They have excellent sales and business development capabilities and these well-known fast fashion brands in the clothing market are particularly prominent.
Fast fashion is a contemporary term used by fashion retailers to express that designs move from catwalk quickly in order to capture current fashion trends. Fast fashion clothing collections are based on the most recent fashion trends presented at Fashion Week in both the spring and the autumn of every year. Emphasis is on optimizing certain aspects of the supply chain in order for these trends to be designed and manufactured quickly and inexpensively to allow the mainstream consumer to buy current clothing styles at a lower price. This philosophy of quick manufacturing at an affordable price is used in large retailers such as H&M, ZARA, Peacocks, and Topshop. It particularly came to the fore during the vogue for “boho chic” in the mid-2000s.
HSTYLE is already Chinese most successful fast fashion brand and it was founded in 2006, which is operated by the Shandong HSTYLE Clothing Co. in a wholly owned business. According to its released statistics, by the end of December, 2011, more than 5000 thousand people chose to shop on HSTYLE, more than 7600 thousand people collected its shop and the most visitors of a day were more than 800 thousand. Besides, the single day turnover was up to 2 million and the average hourly goods sold were about 1200. In 2014, November 11th, HSTYLE topped first in Tmail.com with the sales of 19.8 million, while the second UNIQLO only 1.07 million. In 2015, it expects to reach the sales of 3 billion of the whole year (2015).
1.2 Research Objectives and Research Significance
“Fast fashion” is a relatively new concept and marketing is the key driver of it. Marketing creates the desire for consumption of new designs as close as possible to the point of creation. This is achieved by promoting fashion consumption as something fast, low price and disposable. The continuous release of new products essentially makes the garments a highly cost effective marketing tool that drives consumer visits, increases brand awareness, and results in higher rates of consumer purchases.
This paper on HSTYLE’s marketing strategies is not limited to HSTYLE itself, but may be in a wide range of information and reference. In the context, many well-known foreign fast fashion brands accelerate expansion in the Chinese market, and the substitutability of apparel industry is high with fast growing turnover. Therefore, how to win the market with efficient marketing strategy has become a priority. This paper expects to draw conclusions from the analysis and exploration of HSTYLE’s marketing strategies to help Chinese garment enterprises abandon old ideas, and dig out more room for development. At the same time, it will help HSTYLE to find the deficiencies in its marketing strategies, and put forward some constructive suggestions for the better development of HSTYLE.
Chapter Two Literature Review
2.1 Foreign Research on Fast Fashion Brand Marketing Strategy
There are few foreign researches on fast fashion brand marketing strategy, but more on “fast fashion” and “marketing strategy”. Barnes and Lea-Greenwood published an article in 2006, “Fast Fashioning the Supply Chain: Shaping the Research Agenda”. In this context, Barnes and Lea-Greenwood define fast fashion as a business strategy which aims to reduce the processes involved in the buying cycle and leading times for getting new fashion product into stores, in order to satisfy consumers’ demand at its peak (p. 260). Then they delivered another article “Fast Fashion in the Retail Store Environment” in 2010, further summed up the “fast fashion” three driving factors of development, namely T station popular style, celebrity’s appearance and the desire for “novelty”, especially the media presentation on the three elements has aroused consumers’ interest and has led to a higher level demand (p. 770). Hines (2007) in his book “Fashion Marketing-Contemporary Issues” explained the “fast fashion” as retailers for fashion products (p. 23). In 2007, Lisa Muran in “Profile of H & M: A Pioneer of Fast Fashion” defined “fast fashion” as apparel products which are pursuing the latest fashion trends, rapid design and production, with cheaper price and regarding the mainstream consumers as target customers ( p. 11-36).