In The Face Of Market Crisis, What Are The Management Strategies Of Healthy Clothing Brands?

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In the fashion apparel industry of the new crown storm, the campaign of brand self rescue has started. This campaign is about survival and the future.
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Phoebe has invited many professionals in the industry, international brand experts and famous management scholars to make suggestions for the clothing industry. This issue is written by Xu Huanzhang, director of the Brand Strategy Institute of Shanghai Jiaotong University. From the perspective of market crisis, he will put forward a comprehensive review of the strategic planning of clothing enterprises.
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Great danger breeds great opportunities, and fashion consumption is sweeping through. ... Bless the industry brand, let go of the fog and move steadily towards the future!

Phoebe studies

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A sudden outbreak has disrupted the 2020 Spring Festival holiday, which has repeatedly delayed the resumption of work. This has highlighted the anxiety and helplessness of enterprises in the face of market crisis, and made it more difficult for the 19 year clothing brand that has already been relatively difficult. Facing the business crisis brought by the epidemic, many business owners were worried about the countermeasures, but the reality is that if the enterprises are not in cash, In order to maintain a stable operation, there is a limited amount of contingency measures to be taken in the short term. Therefore, I would like to share with you here. What should a healthy clothing brand do for a market crisis?

The first thing to talk about is the concept. In the face of the market crisis brought by a natural disaster, many enterprises realize that the brand management is not prepared for crisis management. In fact, the market crisis of the brand is always there. It is only natural disasters that cause the enterprises to not function properly. The crisis of the supply chain's disordering appears obvious and direct. The rapid change of market in the past five years brings a crisis to the clothing brand.
This challenge has always existed because of market movement, and the market has been moving. The market will change due to the movement of target consumer groups. 。 In recent years, because 85/ has become a mainstream consumer group after 90 years, the market has become extremely fractionated and personalized, and every five years, the iteration effect of a consumption generation is also impacting the traditional clothing brand management strategy; this change is comprehensive, so we say yes. The market crisis of brand is not only from the management strategy of mass brand to the subdivision of brand, but also the trend of brand family management. If we can not understand the market changes, then from the beginning of commodity planning, we have gradually left the market, and the probability of sales failure is very high. This also means that the organization of traditional clothing brand operation also needs to be adjusted.

The market is also moving because of technological change in the life scene. For example, the commercialization of mobile Internet, which matured from 2012 to 2016, has led to the failure of traditional brand marketing communication. Subsequently, new fashion brands, such as KOL marketing, net red live goods, entertainment platform, voice marketing, and so on, seem dazzled, but there are traces to follow. Clothing brand marketing has entered the era of full channel digital marketing. With consumer segmentation, even marketing copy planning needs to be subdivided. And this evolution took only five years. If clothing brands fail to reflect, they will also become the brand's market crisis.
The market will also move due to the entry of new competitors. Clothing brands are not as obvious as fresh food retail, and are attacked by many dimensionality reduction from online new formats. However, there will still be competitors with innovative patterns. For example, in recent years, the phenomenon of rising tide is taking an example. The driving force behind the tide is coming from consumers after 90/00. The whole business mode of tidal brand includes commodity planning, which is different from that of popular fashion brands. If we do not know clearly, we will only be able to compete with the real tide brand just by rubbing the market hot spots. From a competitive point of view, this is also a market crisis brought about by the new competitors.

It can be seen that the market crisis of the brand exists all the time, but the brand operators often see only the market opportunities and neglect the latent crisis. A good brand management team must establish a brand crisis management system, which includes two aspects of brand crisis handling and market crisis management.
Code of crisis handling for emergencies As we all know, from the handling of product customer service to the handling of a wide range of market crises, of course, the crises brought by natural or unexpected disasters are rarely included. However, the relevant codes of conduct of global famous brands have been established, including the fact that executives can not take the same flight, and so on. Fan will be more mature, for example, in accordance with the general principles of financial management, try to keep cash flow reserves for six months, and establish online collaborative work system. ?
As for From the crisis of market movement, brand management team needs to pay attention to and establish management system. The Sino US trade war, which has just come to an end, will surely make many foreign trade and manufacturing industries memorable and enlightening. We have been in the market crisis. Brand management team should continue to keep an eye on the market and consumers, and make this an annual summary of homework. From the perspective of foresight, we can make the brand remain strong enough.

Enterprises should also examine the business profit pattern and management structure. In particular, SMEs often ignore this link, and a healthy business structure is stable. This includes customer structure, channel structure and product line structure. When the business structure is too simple, there is usually no problem. Once a sudden change occurs in the market, enterprises will easily get into trouble. As in general, when talking about the business structure of an enterprise, chairs are often used as an example. Chairs should have four feet or at least three feet to sit steadily. Clothing brand should be quickened step by step in the construction of all channels. Because online and offline convergence is an inevitable conclusion, the more obvious the market moves to 90/00, after all, consumers are living online and offline.
A market crisis caused by an epidemic is difficult for all enterprises, and the epidemic will eventually pass away. After experiencing the challenges brought by market changes in recent years, clothing brands may re-examine their business plans through the market crisis, believing that brands can be more competitive.

Thank you for reading.

Written by: Xu Huanzhang