There can be few better allegories of the difference between the old-style business approach and the modus operandi of fashion start-ups (among others) than the tale of Virgin Cola.
In the 1990s Richard Branson had the temerity (or chutzpah) to challenge the supremacy of Coca Cola and Pepsi Cola with his own brand of fizzy goodness.* Realistically, he had prospects of a foothold in the market because he understood his audience, if not the unforgiving nature of his competition. Back then it was still about bottom-line manufacturing costs, but distribution channels and outlets were the real battleground. Sadly, for Mr Branson, his product was squeezed off the shelves and out of existence.
Virgin Cola before it, erm….tanked!Photo Credit: Richard Drew, Associated Press
The combination of global manufacturing and the online marketplace has created the most democratised end-to-end supply chain and distribution network imaginable. So what differentiates a successful brand from an unsuccessful one?
- Understanding your target audience and being able to access them.
- Distinguishing your brand (why you when there are so many others?).
- Instilling brand loyalty through identification and engagement.
- Agility of product development and response to change.
Fast Fashion seems to have this all sewn up. The message is ‘we understand you’, and often – particularly for start-ups – ‘we are you’. More than any other sector, fashion is a lifestyle choice. Offshore manufacturing and web-based retailing produce low entry costs into the market. (We may be biased but we’d also argue that this sector lends itself to pop-up shops as experiential events.)
The founder of Tesco, Jack Cohen, traded on his motto: “Pile it high, sell it cheap.” Fast Fashion has evolved that killer sales line to “Pile it high online, sell it cheaper.” With the means of production and distribution taken care of, surely what matters most now is the Means of Communication?
OOH for Fast Fashion proliferated on the London Underground network – an intelligent choice, given the footfall and the target demographic of 16 to 35 year-olds. Coverage has since expanded to 6-sheet bus shelter ads, traditional 48-sheet – often displayed in inner city locations, and an inexorable rise in digital formats and celebrity ambassador / endorsements on social media.
The increase and diversity in advertising is driven, in part, by the sheer volume and turnaround of product lines. Fast Fashion is seen as an affordable and perhaps disposable way of replenishing a wardrobe whenever the need or mood arises. It chimes perfectly with the Internet age of rapid stimulus and response, where attention is captured rather than assumed.
Fast Fashion is not without its critics and their accusations of waste and exploitation. Professor Tasha Lewis, of Cornell University’s Department of Fiber Science and Apparel Design, had this to say on the issue of ‘haste and waste’: “It used to be four seasons in a year; now it may be up to 11 or 15 or more.”
“And with up to 100 pieces hitting site every day and a new collection each week, we never stop – it’s 24/7 fashion at its best.”
As seen on the Boohoo.com website
If customers keep buying new clothes, their old wardrobe has to go somewhere. And if product durability is not an issue, one would hope that a recycling scheme might make environmental and PR sense. We checked out the following brand leader websites for evidence of an environmental policy, with mixed results:
boohoo.com – Has a detailed Social Responsibility section on its website.
prettylittlething.com – We couldn’t find an environmental policy on the website.
misssguided.co.uk – Mentions ethical sourcing and has a modern slavery statement.
isawitfirst.com – We couldn’t find an environmental policy on the website.
chichiclothing.com – We couldn’t find an environmental policy on the website.
The agility of Fast Fashion also lends itself to adaptation, when new trends or styles appear in other areas of the marketplace. This is nothing news of course – remember the Princess Diana style wedding dresses soon after the big event. There is a thin line between homage and plagiarism though.
http://www.thefashionlaw.com/home/13-of-nasty-gals-most-blatant-knockoffs
Fast Fashion still relies heavily on OOH advertising for brand visibility and reinvigoration, so is OOH the goose that lays the golden egg? One could argue that since website functionality and sales funnels are pretty standard, even though design houses and campaigns may differ the product journey for all fast fashion is essentially identical. Start-ups come and go; what is big today can disappear in a year or two without a trace, either due to competition or the changing mood of the marketplace. That, surely, is the legacy of Virgin Cola.
In the long-term it is the OOH media owners themselves who endure. They own the physical and digital infrastructure that delivers the lifeblood of visibility, without which online businesses sink in a sea of other, similar options.
And speaking of alternatives…
Could we see OOH media owners further diversifying their business models by investing in the very start-ups they promote, or perhaps taking a stake in return for their services?
Should that happen, would OOH ownership become an even more attractive investment proposition? Might we see private equity firms making overtures, or perhaps telecoms or media giants looking to extend their core business interests? Never forget that Amazon started off as a bookseller – now look at them!
Our final thought, in the world of fast fashion and OOH collaboration, is an advertising slogan for the late, lamented Virgin Cola: Enjoy Choice!
Check out some of the latest Fast Fashion brand OOH ads BELOW:
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