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A Case History of American Teen Retailer Abercrombie and Fitch with Strategies to Re-Engage with the Millennial Consumer

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A Case History of American Teen Retailer Abercrombie and Fitch with Strategies to Re-Engage with the Millennial Consumer Revitalising a failing brand: A case history of American teen retailer Abercrombie and Fitch with strategies to re-engage with the millennial consumer. 1 CONTENTS Part one: Abercrombie and Fitch Part Two: Marketing Plan Appendix Audit Appendix 1: Millennial analysis Executive Summary (3) Vision and Mission (37) Appendix 2: Additional social trend Brand Profile (5) Brief introduction to Fitch (38) Appendix 3: Site Selection Internal Analysis: SMART Objectives (40) Appendix 4: A&F Financials Brand Identity (8) Key strategies (41-42) Appendix 5-5a: Competitor profiling The Consumer (10-11) Segmentation (45) Appendix 6: Pen Portraits Financials (12) Targeting - New consumer (46-48) Appendix 7-7c: Elemental Macro trend Marketing Mix: Re-Positioning (49-50) Appendix 8: Concept store floor plan Product and Price (14-16) New Brand Identity (50-51) Appendix 9: Chelsea Girl to River Island case study Place (17-20) Fitch Marketing Mix: Appendix 10: Burberry case study Promotion (21-23) Place (54-61) Appendix 11 Press Release External Analysis: Product (62-67) Appendix 12: Retailers using art and culture to drive footfall Competitor analysis (24-25) Promotion (68-83) Appendix 13: Future recommendations PESTLE analysis (26-28) Implementation and Control (84-87) SWOT analysis (30-31) Financials (88) Bibliography Ansoffs Matrix (32) Contingency Planning/Risk Assessment (89-90) Images Strategic options (33-34) Conclusion (91) Fig 1: Own Image 2 EXECUTIVE SUMMARY The arrival of the digital revolution, the unavoidable volatility of the economic environment and the rise of globalisation has meant that all fashion brands have faced a significant challenge in terms of acquiring and retaining a loyal customer base. Some brands have coped with this challenge well, whilst others have struggled to maintain their customer loyalty. With the market increasingly saturated by mass market retailers, as stated by Hines, T and Bruce, M (2007), ‘there is growing evidence of customer rejection of mass prod- ucts and cloned stores, in favour of something which is ‘right for me’ meaning it has become increasingly challenging for brands to differentiate themselves. Whilst some have used factors such as low cost, culture leadership or trend responsiveness to achieve this differentiation (Lynch, R.2012 p153), others have adopted a unique lifestyle persona, to engage and entice the consumer on a ‘deep, emotional level’(Kotler, P.2012:pg 267). It is evident that those who fail to take heed of any of these factors have suffered the consequences. Abercrombie and Fitch is a prime example of one of these brands, which has disregarded Darwin’s Theory of evolution (1859), and is now suffering as a victim of the ‘unpredictable and fast-changing clothing industry’ (Davis, A.2013:p83), resulting in a significant decline in sales. As stated by Kotler and Keller (2012:p280); ‘reinforcing brand equity requires that the brand always be moving forward – in the right direction with new compelling offerings and ways to market them’, which the brand have evidently neglected to do thus far. Focusing specifically on Abercrombie and Fitch, this report will use desk-based and secondary research to explore the reasons behind the deterioration of the brand and strategies for successful revitalisation. It is written from the perspective of an external marketing consultant with the intention of gaining approval from the com- pany’s executive board. In two parts, the report will firstly provide a detailed audit which will examine each element of the brand’s past and current business model in order to establish the brand’s key values and strategies (Wood, M.2013). Part two, will detail a number of key new strategies, to engage with a profitable segment within the millennial generation, and to evoke a more inclusive and desirable brand image. This will involve reconnecting with its outdoor roots/heritage to develop an authentic, and more desirable brand portfolio. The strategy will focus primarily on the development of new multi-sensory store concepts to be trialled in four locations across America, which will be supported by a compelling and visually inspiring promotional campaign. The overall objective is to restore enhanced brand equity. 3 PART 1 ABERCROMBIE AND FITCH MARKETING AUDIT 4 BRAND PROFILE Fig 2: David Abercrombie Fig 3: Ezra Fitch Established in Manhattan, New York in 1892, Abercrombie Co supplied ‘high quality camping, fishing and hunting gear’ and excursion goods, to those passionate about outdoor pursuits (Hudsen, B et al. 2009:p90). However, this concept was rela- tively short-lived after one of the company’s regular custom- er’s Ezra Fitch, became co-founder in 1909, instead opting to offer more general retail (Lepore, M.2011). Following Fitch’s retirement and the recruitment of an assortment of unsuc- cessful CEO’s, the company went bankrupt in 1977. Between 1977 and 1988, the brand continued to lack direc- tion until it was adopted by Limited Brands who purchased the company and appointed Mike Jefferies as CEO, who instigated another major transformation. Jefferies introduced Fig 4 the new ‘nightclub inspired’ ‘destination store’ (Kunde, A (2013) using attractive shirtless male models, strong perfume, dimmed lighting and loud music to market heavily logoed, casual luxury apparel to young teens. Riding the widespread desire for this new ‘Ivy league persona’ in the1990’s and early 2000’s the brand rapidly expanded, opening 22 international stores and 253 across America (Kunde, A (2013). However, as stated by Rupp, L (2014:online); ‘as teen shopping habits changed, Abercrombie didn’t’. The uniformed and arguably elitist brand image provoked a plethora of negative press and now fails to resonate with the modern teen consumer (Maheshwari, 2012), contradicting Fig 5 the statement that Abercrombie and Fitch is ‘Idolized and respected, timeless and always cool’ (Abercrombie and Fitch Co, 2014). Despite recently making a number of changes, including the exit of Mike Jefferies as CEO; the strategic decision to target the slightly older college student of around 21 years old (young millennial)(Feran, T. 2014) and the reduction of the Fig 7 heavily logoed product, the brand is still required to make radical adjustments if they want to regain lost market share and overcome widespread negative associations. Fig 6 Fig 8 5 ‘Rooted in East Coast traditions and Ivy League heritage, Abercrombie & Fitch is the essence of privilege and casual luxury. The Adirondacks supply a clean inspiration to this preppy, youthful All-American lifestyle. A combination of clas- sic and sexy creates a charged atmosphere that is confident and just a bit provocative. Idolized and respected, Abercrom- bie & Fitch is timeless and always cool’ (Abercrombie and Fitch Co, 2014) Figs 9 6 INTERNAL ANALYSIS It is crucial for Abercrombie and Fitch to examine its own resources and its current sit- uation within the competitive environment (Jackson and Shaw, 2009). This will enable the brand to establish key flaws and strengths and make necessary changes to convey a more desirable image, and to achieve enhanced brand equity. The following chapter will outline the brand’s key attributes. Figs 10-13 Abercrombie and Fitch Instagram photos (2015) 7 BRAND IDENTITY n actio d in ran BRAND ONION B Provide a mobile app, with music and The brand onion is shopping features. an effective tool, used to evaluate Abercrombie and Offer graduate schemes Fitch’s current identity and an array of career (Posner, 2011:p147). This will opportunities such as in- store modelling (brand enable the brand to iden- Provision of impressive ambassadors). tify aspects which need to flagship stores in a num- evolve in order to convey a ber of major interna- rsonality nd Pe more desirable brand image. tional cities, designed by Bra Selldorf architects. Active on social media, in- cluding Facebook, Twitter, Young Instagram and Pinterest. Athletic Fun lues nd Va Bra Omni-channel Sexy accessibility Quality Famously provide a multi-sen- Essence Provide an extensive assortment of sory in-store experience. rand high quality products including ‘knit B and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shirts, sweaters, and outerwear; personal care products; and Casual luxury ‘Abercrombie & Fitch is the accessories for men, women and kids’ Classic (Abercrombie and Fitch Co, 2014) essence of American privilege and casual luxury’ En- compassing a ‘preppy, youthful All-American lifestyle. Is the parent brand to the Hollister and (Abercrombie and Fitch Co.) Gilly Hick’s brands. (2014). Confident American, Ivy league Preppy ‘the Company is in the persona process of evolving its consumer engagement strategy to further develop Casual leading digital experiences’ Cool (Abercrombie and Fitch, co.2014) Vibrant ‘Formerly a hunting apparel retailer, this American lifestyle label targets young adults with a sexy image’ (Business of Fashion, 2015) The brand has also attempted to broaden their con- sumer base by distributing a selection of their prod- ucts via the successful e-tailer Asos (Forbes. (2014). This may aid the brand in re-establishing its relevance with the target consumer, as stated by Euromonitor (2014:p31); ‘Asos’s position as a prime shopping destination and fashion authority for “20-something” consumers’. Figs 14 8 Fig 15 Fig 16 Fig 17 Fig 18 Fig 19 Fig 20 9 Fig 21 THE CONSUMER Wood, M (2013:p249), argues that a ‘concentrated marketing strat- egy’ can be a profitable targeting approach, which Abercrombie and Fitch have used successfully in the past. The issue is not that the method is invalid; more the way this has previously been executed which has been flawed (Kunde, A 2013) The niche, preppy ‘Ivy league’ aesthetic that Abercrombie and Fitch had adopted no longer appears to resonate with millennial consum- ers - a generation reluctant to conform to a specific stereotype (Ma- heshwari, S. 2012). What’s more, by using university campus scenes, to market this Ivy League aesthetic (see fig 21 and 23), the brand has failed to address the increasingly diverse and complex millennial con- sumer group, leading to limited sales growth.
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