businesses covering hotels property and investments leaving Bernard to run the

Businesses covering hotels property and investments

This preview shows page 9 - 12 out of 21 pages.

businesses covering hotels, property and investments, leaving Bernard to run the retail operation. This allowed the company to expand into menswear in 1982 with the launch of Concept Man stores, before they were merged with Chelsea Girl to become one retail brand under the name of River Island in 1988. In 1993 the brand opened its first shop in Republic of Ireland. Since then it has expanded into a dozen markets including Russia, Poland, and various countries in the Middle East. Figure 10: River Island Logo In term of product, TOPMAN ’s offering is marginall y larger, with 5,354 products online on the 18th June 2014, compared to River Island’s 4,783. Those extra products are found within TOPMAN ’s tops and accessories categories – categories which both retailers agree are their two largest. The two retailers have similar statistics around their offerings: TOPMAN has a current rate of discounting of 34.7% and River Island 35.6%. The proportion of their ranges discounted by 50% or more is incredibly similar too for TOPMAN that sits at 15.7% of their current offe ring, and for River Island 14.9%.The two retailers’ ability to return sold out product to store is near-equal too: TOPMAN ’s replenishment rate sits at 11.5% of their current offering and River Island’s 11.6%.
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BPMM 1013 PRINCIPLES OF MARKETING 8 Figure 11: Menswear Assortment breakdown between TOPMAN and River Island on 13 November 2015 based on their online store It’s certain that these two follow each other closely, however, TOPMAN have a higher sell out rate: 8% of their current offering has seen sell out, compared to River Island’s 3.1%. This is what allows TOPMAN to have dropped 40% more new products into stores in the past year than River Island have. TOPMAN appear to be the trend leader, with higher uptake on their new lines than River Island have. In term of pricing, the bulk of River Island’ s offering sits between RM 70.00 RM 140.00 with the average price point being RM 115.00. TOPMAN meanwhile have a broader price spread, with the core of their range priced RM 55.00 RM 165.00 and a higher average price point of RM 130.00. Looking at their price architecture visualizes the way TOPMAN ’s range extends out beyond that at River Island extending all the way to RM 1600, compared to River Island’s top price of RM 825.00. TOPMAN stock into each price point higher than River Island do, except at the RM 190.00 RM 280.00 mark, where River Island beat TOPMAN in breadth of offering.
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BPMM 1013 PRINCIPLES OF MARKETING 9 3.0. The Strength of ‘ TOPMAN ’ Online Marketing 3.1. Extensive Marketing This online marketing system based on the website is not only depend on one country but already includes international marketing, so that wherever the buyer wants to make a transaction they can use their own currency. By wide marketing area, the company can make high sales figures in line with the high interest and demand for buyers. They no longer need to look for a strategic market due by their website which has an extensive network will automatically open the market opportunity by itself.
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