Fashion fascinates. It is above all necessary in our daily life and one of the most productive and lucrative sectors. How do consumers find their way around this proliferation of proposals? Between physical stores and prolific e-commerce sites, he does not know where to turn. However, some companies manage to stand out from the crowd thanks to targeted communication strategies and continue to please. So, what are the favorite French fashion brands in 2020 ?!
Each year, the EY Parthenon firm conducts a study on the favorite brands of the French, on behalf of the Marketing media. It surveys 10,000 people and encourages them to give their opinion on more than 190 brands. The results are then analyzed to highlight the brands that get the most memberships.
A total of 19 prizes in thematic categories, as well as the label of the favorite brand of the French are awarded each year. However, the 2020 Awards could not be revealed to the public due to the Covid, which forced the awards ceremony to be canceled.
Overall, four themes relate to the fashion industry. The 2019 list of favorite brands of the French was :
These results highlight several characteristics. The beloved ready-to-wear companies aren’t luxury brands, but rather low-cost brands. Kiabi even bases its marketing strategy on it, as its slogan “fashion at low prices” indicates. The other element to note is that new modes of consumption are becoming increasingly important. Indeed, Zalando is an online shoe sales platform that does not have a physical store.
Joko is an app popular with young people. It allows you to transform your credit card into a loyalty card, in order to obtain rewards from partner brands. Joko therefore looked at the consumption habits of his customers to establish a ranking. After a year-long study based on 50,000 young people between the ages of 18 and 30, here’s what comes out.
The Top 5 favorite fashion brands for millennials are Zara, H&M, Kiabi, Veepee, and Vinted. The ranking is based on the amount of spending in each brand. Zara is therefore in the lead with a benchmark score of 100, 78.7 for H&M and 74.1 for Kiabi. Once again, we can see that pure players are taking more market share. Veepee and Vinted are respectively in 4th and 5th position.
Regarding the amounts, millennials spend an average of just over 38 euros per order at Zara and H&M.
The average basket is lower in the only female brands (Pimkie, Jennyfer, Promod, etc.) with 28.8 euros, than for men, which reaches almost 47 euros (Celio, Jules, etc.).
The average basket of pure-players is 45 euros (Veepee, ShowroomPrivé, La Redoute, etc.).
Another interesting fact is that of the distribution between online and in-store purchases. The SMCP group (Sandra, Maje, Claudie Pierlot) is the one that records the most online sales. These represent 16.2% of overall expenditure. Then follow H&M (14.5%), Zara (10.4%), Etam (8.5%) and Camaïeu (5.4%).
It is worth noting the impressive growth of Vinted which records a 90% increase in expenses between 2018 and 2019.
Each quarter, The Lyst establishes a ranking of the most popular brands on the Internet. The Italian search engine, specializing in fashion articles, analyzes the behavior of 9 million Internet users based on their consumption habits. He scans research on Lyst, but also on Google, conversion and sales rates, network presences as well as engagement statistics.
Regarding the second quarter of 2020, the consequences of the coronavirus are visible, but also benefit some.
At the top of the podium, Nike passes Gucci. The company is on the rise and becomes the most popular brand internationally. It recorded a 75% increase in online sales in the second quarter of 2020. This channel represents 30% of its total revenue. This is because the demand for sports and loungewear has increased. Conversely, luxury ready-to-wear declined considerably, as all releases were canceled.
In second place, Italian label Off-White, founded by American designer Virgil Abloh, shows interest in high-end streetwear style.
On the third place of the podium, the luxury brand Gucci is always a sensation during Fashion Weeks. Its reputation is well established and it has received the highest rating from the Fashion Transparency Index.
In this general context of crisis, what future does the fashion industry hold? What do consumers think? Some fashion players want to rethink the means of production and sales to move towards more sustainable fashion. While e-commerce takes an increasingly important place in the overall turnover of companies. Fashion brands must reinvent themselves and adapt to this changing market to best meet customer expectations and remain the favorite fashion brand of the French.