Fashion fascinates. It is above all necessary in our daily lives and one of the most productive and lucrative sectors. How does the consumer find his way through this abundance of proposals? Between physical shops and prolific e-commerce sites, he no longer knows where to turn. However, some companies manage to stand out from the crowd thanks to targeted communication strategies and continue to appeal. So, what are the favorite fashion brands of the French in 2020?
Every year, EY Parthenon conducts a study on the French people’s favourite brands, 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 analysed to highlight the brands that get the most endorsements.
A total of 19 prizes in thematic categories, as well as the label of the French people’s favourite retailer, are awarded every year. However, the 2020 Awards could not be revealed to the public due to Covid, which forced the cancellation of the awards ceremony.
Overall, four themes are relevant to the fashion sector. The 2019 list of the French people’s favourite retailers was:
These results highlight several characteristics. The adored ready-to-wear companies are not luxury brands, but rather low-cost brands. Kiabi even bases its marketing strategy on this, as its slogan “fashion at low prices” indicates. The other thing to note is that new consumption patterns are becoming more and more important. Indeed, Zalando is an online shoe sales platform that does not have a physical store.
Joko is a popular application among young people. It allows you to transform your credit card into a loyalty card, in order to obtain rewards from partner stores. Joko therefore looked at the consumption habits of its 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 it says.
The top 5 favorite fashion brands for millennials are Zara, H&M, Kiabi, Veepee, and Vinted. The ranking is based on the amount spent in each store. Zara leads with a benchmark score of 100, H&M 78.7 and Kiabi 74.1. Once again, we can see that the pure-players are taking more market share. Veepee and Vinted are in 4th and 5th position respectively.
As for the amounts, millennials spend an average of just over 38 euros per order at Zara and H&M.
The average basket is lower in women-only stores (Pimkie, Jennyfer, Promod, etc.) with 28.8 euros, than in men’s stores, which reach almost 47 euros (Celio, Jules, etc.).
The average shopping basket for pure-players is 45 euros (Veepee, ShowroomPrivé, La Redoute, etc.).
Another interesting data is the split between online and in-store purchases. The SMCP group (Sandra, Maje, Claudie Pierlot) is the one that records the most online sales. The latter represent 16.2% of overall expenditure. Then follow H&M (14.5%), Zara (10.4%), Etam (8.5%) and Camaïeu (5.4%).
Of note is the impressive growth of Vinted, which is recording a 90% increase in spending between 2018 and 2019.
Each quarter, The Lyst compiles a ranking of the most popular brands on the Internet. The Italian search engine, which specialises in fashion items, analyses the behaviour of 9 million Internet users based on their consumption habits. It looks at Lyst searches, but also Google searches, conversion and sales rates, network presences and 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 its online sales in the second quarter of 2020. This channel represents 30% of its total sales. This is due to the fact that the demand for sports and leisure wear has increased. Conversely, luxury ready-to-wear dropped considerably, as all releases were cancelled.
In second place, the Italian brand Off-White, founded by Virgil Abloh, an American designer, shows the interest in high-end streetwear style.
On the third place of the podium, the luxury brand Gucci is always a sensation during the Fashion Weeks. It has a proven track record and has been awarded the highest rating in the Fashion Transparency Index.
In this general context of crisis, what is the future for the fashion industry? What do consumers think? Some fashion actors want to rethink the means of production and sale to move towards a more sustainable fashion. While e-commerce is taking an increasingly important place in the overall turnover of companies. Fashion brands must reinvent themselves and adapt to this changing market in order to best meet customer expectations and remain the preferred fashion brand of the French.