High Newness Doesn’t Guarantee High Sell-Out: While Fashion Nova launched twice the newness volume of Missguided this year-to-date, the former brand delivered lower sell-out rate.
Its sharp fluctuations in Spring/Summer signalled an over-stocking situation, with the declining newness in Fall pointing to a corrective measure in action.
Inclusivity: All rounded size inclusivity is important to Missguided, with its plus size, petite and tall collections. Meanwhile, Fashion Nova focuses on driving size inclusivity from just plus sizes.
Customer Engagement: Both brands leverage heavily on social media marketing and celebrity star power to increase brand awareness and product visibility.
Meanwhile, Missguided stood out with also engaging with its actual customers, potentializing selfie-marketing with #babesofmissguided having garnered over 270k posts and counting.
Next Steps for Brands
Potentialize Rising Categories with Data: Co-ords and Bodies have emerged as key categories this year-to-date for the fast fashion segment. Mid-market brands can now monitor performance of leading brands and identify actual bestselling SKUs for design adoptions with Omnilytics data.
A Holistic Approach: A misstep in backing the incorrect widths of newness for these ultra fast fashion brands will lead to damaging over-stock, as seen at Fashion Nova.
Unlike the ultra fast fashion and fast fashion giants, the majority of mid-market brands cannot afford such missteps. A holistic approach, that combines internal data with competitors’ data, and further layered with market-leading brands’ data, not only provides insights on what worked and did not work, but also offers early trend detection which validates the direction for new assortment planning. With this approach, brands can make informed decisions and execute new trends with confidence.