- Jul 11, 2012
- Reaction score
Oh fuck now I have italic ads popping up everywhere
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They are ubiquitous in Japan - I think they will remain more of a niche big city brand in the USA.
Brilliant. get ready to raise some serious VC money---
I have decided to start a brand, the name will UTILITY. The goal will be to maximize utility and minimize price. We will also look to minimize emotion and feelings because they get in the way of...utility. We will sell a yearly subscription for $95 as $100 was already taken. Our first product will be a cashmere sweater for men. It will only be sold in one color, black, because when you wear it, you should feel nothing. There should be no feelings, only calculation. The objective function is a superior warmth to weight ratio and skin softness at a minimum price. This and this alone maximizes UTILITY. Rational behavior should not include feelings, emotions, or colors.
Would like to invest in the brand? The pitch deck has no graphics, nothing emotive. There will be only text, charts, and graphs in black on a white background. We will never create a new product, only maximize utility on existing products. Our analysis shows that no new products need to be created ever again.Brilliant. get ready to raise some serious VC money
They'll just crush the supply chain even more, to lower costs and ensure the margins are commensurate with the higher cost of returns. They may not even spend money on processing returns at all - they will probably trash anything that comes back, or tell customers to keep it, and still save money. This du didn't become one of the wealthiest men in the world for no reason.I increasingly think that fast fashion won't survive this. A week or two ago, Zara announced that they will be closing 1,000 to 1,200 of their stores worldwide. Their online sales currently make up 14% of their profits. They hope to make up for the shortfall in brick-and-mortar sales by boosting online sales to 25%.
But with such low margins and a high return rate, it's hard to see how they can switch to being an online retailer. Also, fast fashion depends on impulse purchases. You try something on in the store and think you look good in the store's environment. The item isn't too expensive, so you walk out with it.
At home, you get to mull over your purchase for thirty days. You may have a clearer sense of whether you like the item in the very non-glamorous environment that is your home. You also may be more likely to try and return something. With a high-end item, I assume the purchase is more considered. But with cheaper items, you'll probably add a bunch of stuff to your cart "just to try out."
I think in the beginning, people assumed that fast fashion would be one of the "winners" in this (or, at least, in one of the best positions relative to the rest of the fashion market). Logic is that as people earn less money, they'll be more frugal about price. But I'm starting to think they're in the worst position because of the reliance on brick-and-mortar.
(Although, I suppose there's ASOS, which is online. So maybe this is just the vulnerability of H&M and Zara)
Uniqlo isn't fast fashion.I guess it depends on which fast fashion we're talking about, guys like Uniqulo who has a ton of basic for cheap might do better
Probably true, unfortunately.They'll just crush the supply chain even more, to lower costs and ensure the margins are commensurate with the higher cost of returns. They may not even spend money on processing returns at all - they will probably trash anything that comes back, or tell customers to keep it, and still save money. This du didn't become one of the wealthiest men in the world for no reason.