INNOVATION IN UK FASHION RETAILING FIRMS

Innovation in UK fashion retailing firms

Abstract

Industries around the globe have become intent on investing in the latest technology to maintain a competitive edge. The apparel industry has realized its inability to remain competitive by marketing only standardized products and services.

One key strategy in industry competitiveness appears to be the ability to develop a means of product differentiation while consistently delivering quality products that meet customer expectations. Style? fabrication? and price points are means of establishing product differentiation. However? beyond the basics of fashion and style? the perception of good fit from the consumer may be one of the strongest ties an apparel manufacturer can have to the consumer. Consistently? consumers report multiple purchases when they find garments that fit. However? defining and interpreting good fit is difficult and predicated on individual preferences. This research project to date has focused on identifying components of fit that are important to the consumer. In order to produce garments that "fit"? manufacturers and retailers must understand consumers' perceptions of physical comfort? psychological comfort? and appearance which all impact the consumer's decision process. Therefore? understanding the cultural? physical? and psychological differences of women in relation to preferences in garment fit in women's ready-to-wear is important.

Innovation in UK fishing Retiling Firms

1. Introduction

This reports focus on the inovation in UK fashion retailing firms. Keeping in view A UK-based womenswear company crisis and its needs to be more innovative because of stiff competition in the sector this paper discuss how the firm adapt innovation in order to compete in fashion industry. UK Womenswear Retailers 2009 delivers comprehensive analysis of the key issues facing retailers in the sector as well as highlighting key growth opportunities. It profiles the top 10 operators in the market and each profile provides a detailed overview including key operating statistics? trading records and store and space data.

2. Definition of innovation

Innovation is an introduction of new things or methods or in other words the act of starting something for the first time; introducing something new such as in fashion industry innovation may be new designs in clothing other stuff related to it.

3. Different forms of innovation

The most common accepted innovation is that of the development and exploitation of a new product that has a 'customer delight factor'. While this is difficult to achieve? many such concepts are based on factors such as:

the introduction of a product or service from one sector across to another sector

deep insights to a limited element of an existing product? from which a new product is created

the exploitation of a new technology.

There is an increasing level of new products? an 'explosion of products' when compared with some decades ago. This creates much greater competition? but also limits opportunities by many companies to create their innovative products as they will already have been created and patented.

3.1 Product Innovation

3.1.1 Introduction

The method of product innovation engages the introduction of a good or service that is new or considerably improved. This encompasses? but is not restricted to? improvements ...