FASHION & ACCESSORIES REPORT
that are on promotion (60%) versus seniors (30%) and middle-aged customers (43%). This is also true for AsPac shoppers versus European and African/Middle Eastern customers and American customers. Both experience in-store (82%)
and exclusivity (73%) are also among the most motivating factors in purchase decisions; these drivers are significantly more important among F&A shoppers compared with those shopping in other categories. AsPac shoppers tend to buy unique/exclusive particularly
compared to
Europeans. This is also the case for millennials (60%) in comparison to seniors (30%). But more precisely, ‘good value
for money’ is the main individual reason why travellers end up making a fashion or accessories purchase. “Having a look at the differences
between regions, shoppers from AsPac tend to mention aspects related to value/promotions more (83%) compared to those from Europe (67%) and Africa/Middle East (77%),” reveals Marchesini. “Exclusivity is also an important
aspect that triggers purchase for AsPac (81%) and African/ Middle Eastern customers (80%), compared to Europeans (62%) and Americans (70%).” Drilling down into spend per head
by nationalities, m1nd-set reveals that millennial customers tend to
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spend significantly more on F&A purchases ($181 versus $136 amongs middle-aged and $122 for senior spenders).
AsPac ATV higher Shoppers from the Asia Pacific region spend proportionately more on fashion & accessories products ($195) compared to those from Africa/Middle East ($125); Europe ($100); and the Americas ($99). Interestingly, compared to
products,
shoppers in other categories, those making F&A purchases are far more likely to compare prices (49% vs 45% for duty free shoppers overall). This holds especially true for millennials (64%) versus seniors (34%) and middle- aged customers (49%) and also for AsPac F&A shoppers (59%) versus Europeans (39%). F&A visitors of all ages and
nationalities are more likely to interact with the sales staff – 57% versus 49% for duty free shoppers in general – and 55% of F&A buyers say that this interaction influences their final decision to purchase. Of course, it is not only sales
assistants who influence buying decisions and m1nd-set can reveal that F&A shoppers are slightly more likely to notice touchpoints before shopping compared to those looking at other categories. “Online touchpoints are more
commonly mentioned (86%), followed by onboard advertising (56%),” says Marchesini.
Shoppers are looking for duty free exclusives in fashion & accessories.
“Simply put, smart retailers will use this critical period as a way to demonstrate that they live their purpose rather than just talking about it.”
KPMG
She adds: “More precisely, the top individual touchpoints include the following: while booking the trip; billboards at the airport; in-flight magazine, followed by discussions with friends/relatives. Online touchpoints are more likely to be noticed by shoppers from AsPac. Millennials also tend to notice online touchpoints more compared to senior shoppers.” «
This content is for subscribers only. Fashion industry’s journey to becoming purpose led: a KMPG Case Study
According to a recent Global Retail Trends report from KMPG, shared with TRBusiness during its first TRConnect webinar, in 2020, we can expect to see the leading fashion retailers move from having a purposeful brand promise to ‘using their purpose as a guiding growth principle and decision-making lens’. “Simply put, smart retailers will use this
critical period as a way to demonstrate that they live their purpose rather than just talking about it,” says KMPG. Background: The world’s top fashion
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masks, gowns and medical overalls for use by healthcare providers and patients. Why it matters: Particularly in the early phase of this global upheaval, the public
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brands – including Burberry, Giorgio Armani, Dior and Ralph Lauren – have all temporarily retooled their manufacturing facilities to produce a range of personal protective equipment (PPE) such as
JULY 2020
Anson Bailey, Head of Consumer & Retail, ASPAC, KPMG China.
has been keenly aware of potential shortages in critical health equipment. And, with demand for PPE at an all-
time high and demand for luxury and premium fashion products at an all-time low, this action allows fashion brands to keep their factories operating (and, in some cases, drive cash flow) until demand for their lines returns. Lesson learned: Brands that embody
their purpose through these trying times are not only generating public goodwill and customer loyalty, they are also demonstrating they are willing to work with government and in concert with the wider industry to deliver on the needs of society. That will serve them well in the years ahead.
TRBUSINESS 37
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