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All of the following information has been taken directly from Mintel. "Mintel estimates that consumer spending on underwear, nightwear and loungewear has grown 18.8% during the last five years, with spending expected to reach almost £4.6 billion in 2018." "Mintel forecasts that growth in this market will remain stable in the next five years, with consumer spending expected to reach £5.5 billion by...Read More
Social Media & Influencer Marketing Social Media, Scale and Dominance Influencer economy worth $1.6 billion in 2018 Social media and Generation Z… 24 & under 40% of population by 2020 Indirect buying power of over 1 trillion dollars in US alone Brands competing for attention Digital natives; connecting and consuming More aware, conscious and critical than ever Access Instagram average 16 times a...Read More
For the Proposed Consumer Demographics moodboard, I decided to reflect on what Victoria's Secret is already. To begin, the stores are set out to feel very luxurious and the price point is quite high. I decided that I should keep those things to an extent to maintain the brand image. The type of consumer I aim to attract would be aged 21-38, who...Read More
One of the main selling points of Victoria's Secret is their luxury aesthetic. However, when you look at their instagram page, it is a lot of modelling shoots with white backgrounds and boring compositions. I think they should incorporate the luxury aesthetics of their stores with their instagram page. Whether this be with their models posing in interesting places, or showing off their...Read More
At present, Victoria's Secret's biggest competitors in the USA are Aerie and SavagexFenty. These are both brands which heavily promote body-positivity and diversity, making them more relatable to the average consumer. My idea for the proposed market position consists of Victoria's Secret becoming more inclusive like their competitors. For the 2018 fashion show, Victoria's Secret brought in model Winnie Harlow. Winnie has vitiligo,...Read More
This is a brand map I created for the brand Victoria's Secret. A brand map illustrates the range of positions that a product can take in a market, based on two dimensions that are important to customers e.g. low price and high price. At the higher end of the map, with high price and high quality, I put Agent Provocateur and La Perla....Read More
When exploring Victoria's Secret, I decided to do some research into their social media. An effective way of doing this way to compare their social media with another leading lingerie company. One of the top UK lingerie retailers is Boux Avenue, with over 220k followers on Instagram. Compared to Victoria's Secret, this figure is low, as VS has accumulated over 64.5m followers. The...Read More
Brand timeline 1977, Victoria’s Secret is founded by Roy Raymond in Palo Alto, California 1982, L Brands acquires Victoria’s Secret, consisting of six stores and a catalogue, for $1 million 1995, Victoria’s Secret holds its first fashion show 1998, VictoriasSecret.com is launched 1998, Intimate Beauty Corporation is created to develop and build a portfolio of distinct beauty businesses. Victoria’s Secret is the first...Read More
This moodboard is based off of Victoria's Secret's current consumer demographics. The first image depicts a luxury bedroom. I decided to include this image and it represents the design of the Victoria's Secret stores, with their dark walls, chandeliers and boudoir vibes. It gives the impression that VS tries to attract customers who have these luxury bedrooms, or at least aspire to have...Read More
On Friday 18th January 2019, I visited the Meadowhall Shopping Centre in Sheffield, to gather some primary research on some of their popular lingerie shops and to see how they all compared to eachother. I looked at 3 different stores: Victoria's Secret, Boux Avenue and Ann Summers. First up was Victoria's Secret, and I was instantly greeted by their signature pink and white...Read More
The fashion cycle: the ongoing introduction, rise, peak, decline and obsolescent in popularity of specific styles or shapes. All styles that come into fashion rotate through the cycle. Stage 1 - introduction New styles, colours, textures and fabrics are introduced. New style may be accepted by small number of people called 'fashion leaders'. Promotional activities include fashion shows and advertising in high-fashion magazines....Read More
Market Segmentation - a way of analysing a market by categorising their specific characteristics. Specific characteristics can include: Demographics - describe population in terms of personal characteristics e.g. age/gender/income/religion/lifestyle Psychographics - studies of consumers based on social and psychological characteristics e.g. attitudes/interests/opinions Geographic - statistics about where people live Behaviouristic/usage - statistics about consumers based on their knowledge, attitude, use or response to...Read More
Consumer behaviour - the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experience to satisfy needs and desires. (Solomon et al, 2011) Maslow's Hierarchy of Needs Self-actualisation needs: desire for self fulfilment in achieving whatever someone can Esteem and status: striving to achieve a high standing in relation to other people Social...Read More
Starting Point immersion - understand business and market insight brand development strategy Market Map - defining where you want to sit Define audience Three ways for a brand to grow ACQUISITION - attract new customers FREQUENCY - increase the regularity of purchase AVERAGE WEIGHT OF PURCHASE - increase the number of products purchased Brand Requirements identity and assets - consistent global branding packaging...Read More
This moodboard is based on Victoria's Secret's current brand market position and competitors. The first image shows an Aerie campaign of a group of models with diverse body types and ethnicities. Aerie is an underwear brand started by US brand American Eagle Outfitters, and has taken the US underwear market by storm. People like Aerie because it features a wide range of sizes...Read More
I made my first moodboard based on Victoria's Secret's current social media/influencer marketing. The first image is a photo of a girl in front of a big Victoria's Secret sign. I chose this image because a lot of social media posts recently (particularly Instagram) are of influencers posing in front of walls of interest. Victoria's Secret is engaging with this trend by implementing...Read More
On Friday 11th January 2019, I decided to conduct some primary research at the Victoria's Secret store in centre:MK, Milton Keynes, Buckinghamshire. From the outside the store is very big and eye catching, using their signature colours of black, white and pink. There is only one window display out front, displaying the iconic angel wings and notice of a sale. Immediately, the bold,...Read More
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To further my understanding of the brand, I decided to make a collage on what I think of personally when I think of Victoria's Secret. Victoria's Secret has always portrayed itself as a very elite brand, even the name itself suggests a feeling of exclusivity and mystery, like some kind of secret club. This point is solidified further with their use of models,...Read More
