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With that being said it is also shown that davids has

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With that being said, it is also shown that DAVIDS has little to none connection to theworld through social media and advertisements. Although they do have some platformsof social media, there is no activity, no comments, and no engaging activity for theircustomers. This lack of connection proves to be hurting the brands image. Althoughthere is a disconnect with customer service, DAVIDS still excels in its shoes andhandbags with variety and high end collections.Market AnalysisThe current state of the luxury footwear retailer category is an overlycluttered market with many options, brands, and places to choose whenshopping.DAVIDShas some of the world’s largest luxury brand names instore, at a high price point. In the past 2 years, the luxury footwear markethas grown by 3.2% (Smith, 2015). The trend for more luxury style brands andaccessories has grown, allowing for the possibility of growth inDAVIDSmarket share.
26(Smith, 2015)Some economic trends within this category are consumers are trying to cutback on spending with the increasing costs of daily living. This might affectthe price point of whichDAVIDSsells their shoes. Another economic trend isthe ever-changing demographic and how to stay relevant with a youngerconsumer audience, there seems to be a disconnect with the target audienceandDAVIDSand the perception of the brand. (Nguyen, n.d.).Social trends include the younger demographic always wanting to stay instyle and have new trends for the upcoming season, which will in turn meanthatDAVIDShas to stay relevant with the trends and changing seasons.(Nguyen,n.d.).
27The older demographic will tend to stick with stores and brands they alreadyknow and love, this meansDAVIDShas to get significantly better at startingand maintaining customer relationships with the younger demographic ofconsumers, to maintain a lifelong relationship with the customer. Theyounger demographic will change brands and styles according to the seasonand trend of the month, thereforeDAVIDSwill need to stay in style and keepup with trends and catering to their younger consumers. If you start arelationship with a consumer at a young age the more likely they are tocome back for any future events or functions they need luxury footwear for.Market SizeRevenue in the luxury footwear market has reached $531m in 2018.It is expected to grow by 0.9% annually.Revenue Growth:
28Global Revenue ComparisonMarket Share:DAVIDS market share is $16 million. This indicates that there is room forgrowth within the company for size and development.The two main competitors;Salvatore FerragamoandHolt Renfrew, have highmarket shares as well.Salvatore Ferragamois also an Italian luxury brandwith a large following of consumers, with market sales of 2,062.77 millionCAN converted from EUR. Their sales growth has gone down -3.09% since2016, this shows their popularity going down in recent years.
29This chart shows the financial performance ofSalvatore Ferragamoover thepast 4 years, and the decrease in their sales.

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Term
Winter
Professor
caterine
Tags
Brand, Luxury good, Luxury vehicle, Davids, DAVIDS Footwear

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