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“Abercrombie & Fitch Co. is a leading specialty retailer encompassing three concepts - Abercrombie & Fitch, Abercrombie, and Hollister Co. The company focuses on providing high-quality merchandise that compliments the casual classic American lifestyle. The merchandise is sold in retail stores throughout the United States and through catalogs. The Company also operates e-commerce websites.” A retail strategy indicates how a firm plans to focus its resources to accomplish its objectives. A&F’s retail strategy now is to still to target an affluent lifestyle; yet the young teenage customers who are a part of Generation Y. Generation Y is defined as similar, diverse, stressful, spoiled, and full of paradoxical behaviors. This means that targeting such a group of consumers, that is always changing, is definitely a tough job to do. However, they are also known for their love for shopping, desire for frequent style changes, and for being easily accessible through the media; especially TV. This generational cohort is an enormous one, thus the size of the retail segment is big enough. On the contrary, their old target, which was basically baby boomers, is obsessed with leisure, youth maintenance, travel, and nostalgia. They are less materialistic and care less about fashion and clothes. So, after looking at the two cohorts, it sounds obvious that a fashion or apparel company will be better off targeting Generation Y or teenagers who have a lot of disposable income, and thus more psychological needs. A&F’s main roots were the East coast roots, and they maintained and advanced these roots and added value and benefits to the customers. Or in other words, they increased the customers’ importance weight. In addition, they customized their products to the varying customer needs by visiting campuses to see what those teens needs are; in order to stay on track and keep their sales skyrocketing. They provide variety and assortments, hold inventory, stay up-to-date on inter and intra-type competition, and maintain sustainable advantage through targeting specific market segments (Demographic and lifestyle segmentation). A&F are kind of a leader in the teenage apparel business, and this is due to their smart Retail strategy and perfect retail mix.
Approximate Word count = 1385
Approximate Pages = 5.5
(250 words per page double spaced)
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