FAST FASHION: STRATEGIC PRICING
Image Source: H&M Twitter
Its so interesting how fast fashion brands price their products. Just high enough to make great margins and just low enough to keep the customer happily shopping while looking for more.
How much ever I try to keep away from Zara, Forever21 et al, for mostly ethical reasons, the fact is I’m addicted to them. Latest trends, right fit and perfect pricing…they ace the game!
My latest crush however is H&M. I didnt quite like their first collection, it was too street-style-for-20-somethings. Though the forthcoming collections just have me by my wallet! While I buy what I have to (or need to), I also end up buying a lot of basics (that I dont really need). All their pieces esp. the basics are priced such that if I decide to check out other places for better bargains, the fact is, I will be spending much more on travel and there is a 50-50 chance of me finding the right thing, or worse still, of coming back and not finding my fav piece at all because they’re all sold out!!! Totally a case of FOMO.
But then. Isnt fast fashion based purely on hitting people’s fear of missing out? Holds absoloutely true for me. What about you?