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Introduction to the task.
You are to develop an investigative approach to range planning and examine retail performance, supply chain decision-making and identify the factors that are affecting the consumer. Identify product lifecycles, sales and costs in a global sourcing environment.
This task will allow you to construct a future range whilst being mindful of the competition, the marketplace and the consumer.
Description of the Task
Choose a small independent fashion brand, that has a website that is in English. For this assignment do not choose a brand that focusses on a Gen Z consumer. We want you to think about different types of consumers.
- For this assignment you are to investigate the ‘core or continuity’ products of one product category. (See glossary below for definitions.) You are to analyse the current performance of the chosen product category to determine the composition of the next season’s range. Preferably chose an autumn winter season range.
- Identify the drivers that are impacting the key consumer of your brand and their consumption patterns? What recent factors are impacting their attitudes and how will this impact your brand? Consider the life stages of your consumer. How can you construct a range that reacts to consumer trends? How does this translate into a product range? How can this information maximise sales, profit and success of the range?
- Identify lost potential and evaluate any gaps in the current range by investigating the direct competition and by carrying out a postmortem on the current range. Which products are key to the success of this business? Which products are underperforming? What is the product lifecycle of these core and continuity products. Which products are in decline and which products are growing in popularity? Have these products reached their maximum sales? Consider fabric and new technologies to enhance the competitiveness of these products. Are their new innovations that could be adopted?
- Consider how the core and continuity products can maximise the supply chain to their benefit price, margins and availability.
- Small brands may not publish their sales data and therefore you will need to use resources such as Edited and Google Analytics to establish potential sales data to support your rationale.
- Develop a product assortment plan for a future season and communicate your thinking via excel. Consider aspects such as pricing, option counts, width and depth of the range, sizing and any new fabrics or product technologies. Use merchandising maths to support your predictions and provide extensive research to support your findings. Consider production planning and identify how these can be maximised.
Please refer to the briefing lecture and assignment checklist for the full scope of the brief.
You can use the following to create your report. via PowerPoint, InDesign or word.
Glossary
Core products have very long lifecycles that could last decades. They are the basics and tend to be adopted by a large percentage of the population. Think black socks, white T-shirts, black leggings, crew-neck sweaters, and a classic shirt.
Continuity products last for a few years but slowly lose popularity. Around 50-60% of the population will own these items. Think straight-leg jeans, sweatshirts, joggers, and white trainers. These products tend to last for around 5 years and will slowly go out of fashion. Fashion items in contrast are short lived and may only last a few weeks, months or a couple of seasons.
Life stage. A term used to express the stage in one’s life, e.g., empty nesters, young families, young professionals, retirees, late career.
Lost potential. A buying & merchandising term to identify sales that have been lost as stock has run out or because a product wasn’t in the range. How many more of that product could you have sold if you had the right stock quantities or correct size ratios? Or the right combination of products?
Product category. Products are usually bought by type. Examples are; knitwear, jersey wear, denim, tailoring, or lingerie. Smaller companies will buy all categories.
Product lifecycle. This denotes how a product sells. A fashion product could last a season or a matter of weeks. Seasonal products, e.g., gloves, sell for a limited time but will return next season. Core lines sell all year long, but there may be times in the year when sales lift or drop. For example, black socks may lift during back-to-school or at the start of autumn, and sales will drop in the summer.
Postmortem, sales review. The process of reviewing sales from previous years, seasons, or weeks to understand how products have performed. This insight should help forecast future sales and demand.
General Guidance
All tables and diagrams are included in the word count. Front cover, contents page and the reference list are not included in the overall word count.
Students can submit -/+10% of the allocated word count with no effects on final mark. Marks will be deducted if students exceed the word count +10%. Please note the effect on the final mark shown in the table below:
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Amount the submitted work is in excess of the provided guidance.
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Effect on final mark
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0-10%
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None
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11-20%
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Mark reduced by 5%
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21-30%
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Mark reduced by 10%
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> 30%
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Mark capped at pass
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It is advised that the appendices are used only for descriptive narrative and more in-depth definitions/theoretical explanations. Critical analysis, evaluation and application should be provided in the main body.
Generative AI statement.
The use of regenerative Ai is permitted in this assignment, as long as it is used in accordance with the instruction provided in the ‘Are you allowed to use AI in assessments?’ section of the Rise AI literacy Study Pack. All work must be your own original content.
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