Some words from owner’s of the Incu stores, Brian and Vincent Wu, in an interview with NETT business magazine from 2010.
The brothers opened the Incu store because they saw a gap in the market “When we went overseas, there was a lot of product that was not available her and I thought if we could just position ourselves in that kind of high end market but not luxury goods - we could really hit something” - Brian Wu.
The Wu brothers feel they have an edge on department stores due to their ability to look forward and stay ahead of the trends, which has become increasingly difficult because of the internet everyone is now on top of the latest trends. “A major factor in Incu’s success has been the brothers’ skill at choosing brands and items that customers wanted -or convincing them that these clothes were fashionable”.
-NETT January 2010
A report on WGSN outlines the importance of finding the right form of social media to target a brands specific customer, as there are now so many forms of social media out there. They suggest focussing on one or two and doing them really well, rather than trying to be on all forms of social media.
According to new research by PwC and Frost & Sullivan, Australians will spend more than $13.6 billion online in 2011, an increase of over 13% on last year’s $12 billion.
Online shopping, both locally and offshore, is expected to grow at least twice as fast in comparison to the total retail market in Australia over the next four years.
According to the report, online spending by Australians will reach $21.7 billion by 2015, representing a compound annual growth rate (CAGR) of 12.6%.
Large and small retailers alike are facing stronger than ever competition from digital channels, both here and overseas. Lower prices, convenience, greater product range and a growth in mobile devices are all factors fuelling online shopping.
-Research by PwC and Frost &Sullivan 2011, http://www.pwc.com.au/industry/retail-consumer/publications/digital-media-research/index.htm
-She is optimistic about her future
-She is career-orientated and ambitious
-She absorbs trends and translates them into her own individual style
-She takes pride in her appearance and wellbeing
-She is aware of and passionate about cultural, political and social issues
- She is engaged in the world around her and has an active social life
-She is discerning but loyal to the brands that fit her values
52% of Yen readers would paint, sculpt or take photos at least one per week. 40% you’d meet at the gym or on a walk at least once a week. 64% you will find in department stores or shopping malls once a week.
61.4% of readers have bought products seen in Yen magazine or www.yenmag.net
-median age 22
“Vogue Australia aims to enlighten, entertain and inspire by focusing on its position as the authoritative voice in Australian fashion. vogue Australia combines a modern mix of glamour, style and wit with a passionate undercurrent of intelligent writing and cutting-edge photography”.
Target audience: smart, stylish females aged 25-54, who love fashion.
-84.5% of readers are women
-Largest percentage of readers (39.7%) in the 14-24 age bracket
This competition is an Australian competition to promote the wool industry in Australia and its developing role in the international market. It is sponsored by the Australian Wool Innovation Lab and is designed to showcase Merino wool as well as to educate and encourage young designers in the qualities of wool. One of the prizes is specifically for young designers, enrolled or completed study at a tertiary institute.
Fashion Exposed is a trade show event held in australia twice a year for businesses to meet with designers and source fashion and accessories. Fashion exposed holds a competition twice a year called ‘debut’ to give an emerging designer the opportunity to take part in the fashion exposed buying event and make contacts to sell their debut collection.
International Design Awards (IDA) is an event held in LA or New York anually to celebrate and promote legendary design visionairies and uncover emerging talent in architecture, interior, product, graphic and fashion design. There is a catagory for both professionals and emerging talent (students) at the awards. Prizes include a publication in the IDA Book of Designs, promotion in newsletter sent out to 100,000 design professional worlwide, coverage on website and acclaim on panel of judges.