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Hey guys. This is part II of my Product Development 101 – Beyond Design column. Last time we were talking about finding inspiration, making mood boards and conducting some research in order to find out whether or not our target group would appreciate our concept. I think most of us are part of the Generation Y segment and therefore tend to design clothes for people of the same age or generation. Here are some facts about this group that you need to know if you target this part of society. |
Gen Y (based on the US population)
o Born between 1977-1994
o 1 in 3 non-Caucasian
o 1 in 4 from single parent home
o 3 in 4 have working mothers
o ¼ of all Americans is part of Gen Y
o $100/week of disposable income
-Not used on needs but wants
-Purchases (and life) dictated by celebrities and entertainment
o Representing $150B in annual spending
–Influence on the spending of others can be as much as 5x
o They are more socially-conscious than any previous generation
o Accepting of alternative lifestyles and diversity
–Same sex
–Inter-racial
o Value companies/brands/products that support good causes
o 1st Generation to grow up with technology
o Visit social-networking sites on a regular basis
o Seek to make a difference
o Want to produce/contribute something worthwhile
o Expect respect
o Question things - that’s why they are also called “Gen Why”
Looking over the rim of your teacup – Competitive analysis
Being informed about your target customers’ wants and needs, shopping behavior and attitudes is a good basis to develop a product that will be bought by them. Another crucial keyword is competitive analysis. Today’s increasingly globalized and highly competitive market conditions make it crucial for fashion designers to compare their products and business strategies with those who offer similar products. You have to ask yourself: Who are my competitors and what makes my product stand out from the crowd? Why would people buy my designs instead of …’s? The easiest way to get an overview of your competitors’ strategies is a comparison chart that you can create with Excel or similar software.
Please click for a larger version - or - Download the excel file here
Are there certain trends that are relevant for your choice of fabrics and trims? One present trend is increasing eco-consciousness, thus more and more fashion manufacturers are selling collections made of organic cotton etc. Depending on the season you want to launch your collection, you should be informed about future color trends. One informative website for that matter is http://www.fashiontrendsetter.com. There you can find Pantone Color Reports, CIFF trends, TFL color trends for leather and other trend predictions. Knowing about color characteristics is also important for fashion designers. Every color has a certain emotional impact on people and can help you convey a mood with your collection.
If you liked this article, you might like these merchandising books:
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Sunday, 10 January 2010
Hey guys. This is part II of my Product Development 101 – Beyond Design column. Last time we were talking about finding inspiration, making mood boards and conducting some research in order to find out whether or not our target group would appreciate our concept. I think most of...
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