Primark Balances Low Prices with a High-End In-Store Experience
Rebecca Byers — December 16, 2015 — Business
References: retaildesignblog.net & therobinreport
Although the description of an "upscale discount store" may seem confusing, it pretty well sums up Primark's strategy in terms of in-store experience. By complementing its everyday low pricing policy with a uniquely upscale shopper experience, Primark is able to provide added value without changing its approach to production and distribution.
Ultra fast fashion brands like Primark are positioned to capitalize on the latest fads in a low-risk way, based on their enticing in-store layouts that contribute to the experience of the brand with little relation to the products themselves.
With current plans to expand into the United States, the Primark brand will attempt to translate its unique take on everyday low pricing (EDLP) to an American market that has showed a bigger interest in the high-low model in recent years.
Ultra fast fashion brands like Primark are positioned to capitalize on the latest fads in a low-risk way, based on their enticing in-store layouts that contribute to the experience of the brand with little relation to the products themselves.
With current plans to expand into the United States, the Primark brand will attempt to translate its unique take on everyday low pricing (EDLP) to an American market that has showed a bigger interest in the high-low model in recent years.
Trend Themes
1. Ultra Fast Fashion - The trend of ultra fast fashion allows brands like Primark to capitalize on the latest fads in a low-risk way and disrupt traditional fashion cycles.
2. Upscale Discount Store - The trend of creating upscale discount store experiences, like Primark's strategy, offers a unique approach to providing added value without changing pricing policies.
3. High-low Model - The high-low model, which combines high-end and low-end products in the same store, presents disruptive innovation opportunities for brands like Primark entering the American market.
Industry Implications
1. Fashion Retail - The fashion retail industry can leverage the trend of ultra fast fashion and upscale discount store experiences to create unique shopping experiences and disrupt traditional retail models.
2. Retail Expansion - The trend of upscale discount store experiences provides opportunities for retail expansion, such as Primark's plans to expand into the United States.
3. Fashion Market - The trend of the high-low model presents disruptive innovation opportunities within the fashion market, where brands can combine high-end and low-end products to cater to different consumer segments.
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