Produce A Theoretical Range Plan For A Retailer

Produce a theoretical range plan for a chosen retailer.

Working individually, you are required to carry out appropriate research to produce a comprehensive range plan for a retailer you select for a small collection of garments. You must choose a separate retailer, with the decision made by the end of week 8. The range plan will be presented to the group in week 12. Additionally, you will submit a 2000-word report (excluding tables or metrics) with supporting visuals.

The project involves developing a small collection to be on sale for AW18, consisting of 8-10 options (style/color) that you research and design. You need to select the brand and product category, ensuring the offering is balanced in terms of fashionability, volume, price, and design. Your target margin is 70%, with a budget at selling value of £300K. To achieve this, you must critically evaluate the retailer’s current product offering, explore the competitive landscape, and identify the target customer. You should also analyze relevant trends, including fabric, color, shape, and theme, and interpret these into your range planning.

Your research should underpin your conclusions and recommendations, which must adhere to industry standards. The report will include a comprehensive competitive shop analysis and conclusions, brief details on the brand aesthetic and customer profile, trend information, visual range plan (photos or sketches), and range metrics including selling price, cost price, margin, and quantity per style.

The assessment will evaluate your comprehensive knowledge of the fashion industry, including research methodology on trends, company strategy, consumer insights, and current ranges. It will also assess your creative thinking and analysis in trend selection, price positioning, and range planning. Your report should be clearly written, well-structured, professionally presented, visually engaging, and fully referenced.

Paper For Above instruction

In the highly dynamic and competitive landscape of the fashion industry, developing a well-researched and strategic range plan is crucial for retail success. The process involves an integrated approach that combines market analysis, consumer insights, trend forecasting, and financial planning. This paper explores the critical steps and considerations involved in creating a comprehensive range plan for a chosen retailer, concentrating on the Autumn/Winter 2018 (AW18) season. It highlights the importance of understanding the current product offering, analyzing the competitive environment, identifying target consumers, and interpreting fashion trends into actionable design and planning strategies.

One of the foundational steps in range planning is evaluating the retailer’s existing product offering. This entails conducting a detailed competitive shop analysis to understand the market position, product diversity, pricing strategies, and visual merchandising of key competitors. By understanding what competitors are offering, a retailer can identify gaps and opportunities to differentiate their product range. For example, if competitors dominate the market with sustainable fabrics, the retailer might explore incorporating eco-friendly materials into their AW18 collection. Additionally, analyzing the retailer's current product assortment helps to identify strengths to build upon and weaknesses to address in the new range.

Understanding the target customer is equally vital. The customer profile guides decisions on product style, price point, and marketing messaging. Demographic data such as age, gender, lifestyle, income level, and shopping behaviors shape the range's aesthetics and price positioning. For instance, a retailer targeting young urban professionals might favor trendy, versatile pieces with contemporary styling and moderate pricing, aiming to balance fashion-forwardness with accessibility. Consumer insights can be gathered through surveys, social media analysis, and purchasing data to ensure the range resonates with the target demographic.

A principal aspect of range planning lies in trend forecasting, which involves interpreting fabric, color, shape, and thematic trends relevant to AW18. Trend agencies, fashion forecasts, and industry reports serve as primary sources for identifying emerging trends. For AW18, key themes might include earthy tones inspired by sustainability, oversized silhouettes emphasizing comfort, or textured fabrics reflecting tactile interest. Trends are then translated into the design of the product range, ensuring how these influences are integrated aligns with the brand aesthetic and target consumer desires.

Developing the range involves selecting 8-10 styles that balance art and commerce. Each style is designed considering its visual appeal, manufacturing feasibility, and price point to ensure the target margin of 70%. The range metrics, including projected selling price, cost price, quantity per style, and expected margin, are computed to align with the financial objectives, considering the overall budget of £300K. These calculations require a thorough understanding of cost constituents, including raw materials, production, distribution, and marketing expenses.

Visual presentation of the range plan through sketches or photographs enhances understanding and stakeholder communication. Clear illustrations help convey the intended aesthetic, while detailed descriptions contextualize the choices made. As part of the research process, the designer must also include fabric swatches or mood boards that capture the thematic essence of the collection, providing visual coherence across the styles.

In conclusion, the creation of a successful range plan relies on meticulous research, strategic analysis, creative interpretation of trends, and detailed planning. It demands a deep understanding of the industry, the ability to synthesize complex information, and creativity in design and merchandising. By following these structured steps, a fashion buyer can develop a compelling, relevant, and profitable collection that meets both consumer expectations and business objectives.

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