13 lines
2.5 KiB
JSON
13 lines
2.5 KiB
JSON
{
|
|
"HubID": "3848",
|
|
"Date": "1/29/2024",
|
|
"HubTags": [
|
|
"External Platform Posts"
|
|
],
|
|
"Contacts": "",
|
|
"Companies": "",
|
|
"File": "3848__File_URL.pdf",
|
|
"Image": "",
|
|
"Summary": "<p>The attached report from McKinsey on 2024 Fashion Trends (https://drive.google.com/file/d/1NWO7IcUzHRszH-PW21iOz6Z8l84mPEVf/view?usp=sharing) talks about Outdoor Reinvented and the push for brands to move from their technical roots to lifestyle mass market. While this worked in the past, it won't work in the future. </p><p>Technical outdoor apparel brands transitioning into lifestyle brands has been happening for decades and has been the logical choice for outdoor apparel brands to grow. This strategy is long-in-the-tooth and young brands should not do this. What has worked for decades in the Old Normal era we are in now is dying and those that follow with this same strategy will be the chumps with disasters on their hands. <br /></p><p>The strategy is used because small, technical brands want to grow. Yet they can't find any more technical customers so they reformat their products to become lifestyle brands that appeal to mass market buyers. <br /></p><p>As we enter The Reckoning, a period of intense economic hardship, conflict and turmoil (roughly 2026-2035 period), this once-smart strategy will be the albatross that brings brands down. These now big, technical-lifestyle-mix brands will see their lifestyle mass market customers evaporate as the economy hits the skids, because the mass market looks at these reformatted technical-to-lifestyle brands as discretionary spend, which always suffers disproportionately more in a bad economy. <br /></p><p>The original technical diehard customers have long moved on, so big reformatted technical-to-lifestyle brands have nowhere to go. Even if they can retain some attraction with diehards, that market is now too small to try and make up for lost sales to the mass market. <br /></p><p>Small brands will me much better to stick to their technical roots through The Reckoning period because to their diehard customers, they are more of a staple spend, not a discretionary. It is better for them to ride out The Reckoning period as a small, technical brand, with a captive customer base, and then post-Reckoning, they can move into lifestyle if they want to capture more growth. </p><p>Large, lifestyle brands will be hit very hard and could see sales drop significantly and as brands, be worth orders of magnitude less than they are now. </p>",
|
|
"Notes": ""
|
|
} |