Primark Opens The World's Largest Store, Shopping Beauty Salon Coffee Body.

Parity + fashion has always been the main concept of fast fashion brands. The world's top fast fashion Giants: Inditex, H&M, GAP and UNIQLO are already familiar with Chinese consumers.

However, there is also a British fast fashion brand Primark that can not be underestimated. It goes through the ultra low price route, insists on not playing the electricity supplier. There are more than 370 stores all over the world, but it also goes out of a different way.

The expansion of fast fashion brands

As a fast fashion brand in Ireland, Primark was founded in 1962 and opened its first store in 1969. It is a transnational clothing retail companies, like the Spanish fast fashion giant Inditex and the Swedish fast fashion giant H&M.

As a popular fast fashion brand, Primark mainly sells clothing, accessories, footwear, cosmetics, bags and household goods. Its market position is "family safefashion", which is transformed from a discount shop to a mainstream fashion retailer, opening its offline expansion.

Primark constantly promotes its brand image from the store's image, consumption experience, shop service and so on with the price of super people, rich categories and styles, creating a youthful and fashionable atmosphere, attracting young people who pursue fashion but not having high incomes. Although they are mainly targeted at consumers aged 18-24, their product lines are in line with all ages.

Primark has expanded its overseas market since 2015 and opened its first overseas store in Boston. Today, there are more than 370 stores and more than 75000 employees in 12 countries across the European and US markets.

According to Primark official website information, in June of this year, Primark entered Slovenia and opened the first store in the central European market. It is reported that Primark also plans to open more central and Eastern European markets in the next few years. The current fiscal year 2019 plan will continue to increase 15 stores.

In April this year, Primark opened a super flagship store in Bermingham, UK. It is also the largest brand store in the world, replacing the original Pavilion shopping center, covering an area of 160 thousand square feet (about 15000 square meters), with 5 floors (-2F to 2F).

The new store covers a wide range of formats. Apart from the conventional clothing, home and beauty area, there are also new gourmet areas: 3 coffee shops + a restaurant, hairdressing, hairdressing studios, and Disney and Harry Potter peripheral product areas, creating a one-stop lifestyle experience, bringing consumers a brand new and rich shopping experience.

2F: Children's wear, underwear series, Disney Cafe Disney cafe;

1F: sale of women's wear, accessories, shoes, HOME series, T-shirt personalized customization center, Primarket (selling toys, stationery, etc.) and Primark Cafe;

0F: is mainly women's clothing, beauty makeup area, and London beauty studio DUCK & DRY XPRESS BEAUTY STUDIO, providing consumers with manicure, hairdressing and eyebrow service after shopping.

-1F: mainly consists of a restaurant THE MEZZ RESTAURANT and a Dublin coffee brand COFFEE KIOSK.

-2F: Men's wear area, a barber shop Mills Barber.

Like the "department store", Primark also provides a number of rest areas with sofa and charging points, and advocates environmental protection concept. Consumers can bring any brand old clothes and shoes to the store for recycling.

Insist on not playing e-commerce, will carry out the low price

Compared with Inditex and H&M competitors, although Primak entered the Spanish market more late, its growth rate is the fastest and its market performance has more advantages. At present, Spain has become the second largest market of Primark. In the first half of the fiscal year of March 2nd, Primark sales grew 4% to 3 billion 600 million pounds (about RMB 31 billion 400 million) in the first half of the year, according to the first half of the Primark.

Most notably, Primark, the only fashion retailer without online stores, relies entirely on their physical experience.

1., go to the bottom of the price.

According to the current consumption trend, "high performance price ratio" is the best way for fast fashion brands to survive and attract customers. Pimark will take the low price to the end, for example, a pair of slippers, 0.9 pounds, a T-shirt 3 pounds, a cap 2.5, a backpack 8 pounds... And they are all new models. Commodity prices are much cheaper than ZARA, H&M and other peers, and the profit margins will be relatively small.

2., insist on not playing e-commerce, only under the line.

When the traditional retail brands are moving towards the O2O era, Primark insists on not taking the channel of e-commerce. It is totally dependent on offline stores. Every newly opened store is a platform for Primark publicity and an important opportunity to win new consumers.

According to CEO George Weston of its parent company ABF, they do not see the need to move online, and the cost of online sales is too high for Primark.

3., the new speed of products is fast.

Provide the latest fashion at low cost. It is reported that Primark can usually turn products from design concepts into goods in 6 weeks and put them on shelves. And the brand will predict the fashion trend six months in advance, and quickly copy the big style.

The speed of product update and iteration just caters to the psychology of young consumers following fashion trends, cheap and fashionable, which is the key to fast selling brands.

4. high Ping efficiency

Under the strategy of keeping the lowest price of all formats, Primark is still growing steadily every year. Ping efficiency is relatively high among many fast fashion brands, 1.6 times of H&M and 4 times of that of Messi's.

The speed of product update is fast enough to cater for their psychology in keeping pace with fashion trend. With low price, consumers can not afford to worry about it.

In addition, Primark also has a very efficient supply chain, efficient organization of production, lower logistics costs, and more standardization in the selection of fabrics and styles, which means higher efficiency. Besides, Primark does not do brand marketing and advertising. It relies entirely on the spread of mouth.

- conclusion -

NewLook, also a fast fashion brand in Britain, announced that it had completely withdrawn from the Chinese market at the end of last year and closed all 130 stores, which lost more than 500 million pounds last year. In May of this year, Forever21 also withdrew from the Chinese market. How can consumers and brands achieve better win in the fierce competition of fast fashion brands? Can Primark continue to maintain strong momentum in the Spanish market without playing with e-commerce?

However, according to a report released by fashion firm Thredup, 40% of the millennials surveyed said they would stop buying fast fashion brands. 54% of the Z generation respondents aged 18 to 21 decided to buy higher quality products. 25% of female consumers said they would no longer buy fast fashion clothes from 2019, most of them young consumers.

Although fast fashion brands fit the fashion demand and consumption habits of the current people, they occupy an important part in the global clothing market. However, from the above data, the fashion concept of young generation consumers may also be changing.