Athleisure is a market that has been growing since the beginning of the two thousand, receiving more strength. Growing exponentially in recent years thanks to the pandemic, changes in fashion and lifestyle as well as society's perception of comfortable but formal clothing. This trend is mainly founded on the growing fitness and nutrition awareness, sustainability, and specialized goods leading us to understand how the consumer today is looking for outfits with a focus on comfort, adaptability, and quality that blend casual and workout attire. Outdoor Voices manages to capture all of this through its products, but above all with its experience in stores since they seek to create a sense of belonging by actively integrating consumers’ feedback, colorful interior design, happy music but most importantly the friendly attitude of the employees and community. Looking at Outdoor Voices' desire to continue growing we find that although its main competitors have higher brand recognition, Outdoor Voices has the competitive advantage of being a brand for everyone. We will seek to extend brand voice and recognition by creating an experience for new consumers in an area with a promising footprint thus increasing the physical presence of the brand.
Table of Contents
1. Executive Summary
2. Industry Analysis
3. Trend Analysis
4. Customer Analysis
5. Competitive Landscape Analysis
5.1 Athleta
5.2 Lululemon
5.3 Under Armour
5.4 Perceptual Map
6. Merchandise Analysis
7. OV Recommendations
7.1 Gap Analysis
7.2 Location Analysis
7.2.1 ATL
7.2.2 SFO
7.2.3 JFK
8. Sales Projections
Objectives and Core Topics
This business plan evaluates the potential for Outdoor Voices to expand its physical footprint through strategic pop-up locations in major U.S. airports. The primary objective is to bridge current sales gaps identified by market analysis and enhance brand presence by providing unique, localized consumer experiences in high-traffic travel hubs.
- Analysis of the global athleisure market and current consumer trends.
- Evaluation of the competitive landscape, including Lululemon, Athleta, and Under Armour.
- Implementation of merchandise evaluation techniques such as ABC and Sell Through Analysis.
- Strategic recommendations for pop-up retail locations in Atlanta (ATL), San Francisco (SFO), and New York (JFK).
- Financial forecasting and growth strategies based on observed market performance.
Excerpt from the Book
7. OV Recommendations
“I think pop-ups are going to become a marketing necessity in the future,” said Gavin Bradley, senior creative director for customer experience at Harbor Retail. Mark Hamstra (2022) claims that particularly for brands, pop-up stores give businesses a direct line to people while avoiding traditional merchants, also create customized experiences for the shoppers.
Eat. Drink. Sleep blog affirms that the most typical reason why retailers choose to launch a pop-up is to increase buzz and knowledge about their products, services, or even just their brand. However, pop-ups can also promote internet visibility, and increase sales, and social media engagement due to favourable customer involvement and reach expansion.
According to survey data, more than half of survey takers in the United States in 2019 visited pop-up stores in search of unusual goods and because they provide unique experiences. Many shoppers also visited it out of curiosity and a desire to patronize small, independent enterprises.
Chapter Summaries
1. Executive Summary: Provides an overview of the athleisure market and the strategic goal of Outdoor Voices to enhance its physical presence.
2. Industry Analysis: Examines global market growth and environmental factors driving the demand for sustainable and high-quality athletic apparel.
3. Trend Analysis: Explores the shift toward casualization and the role of wellness and sustainability in shaping modern consumer preferences.
4. Customer Analysis: Identifies the core demographic of Outdoor Voices and evaluates how their store experiences are tailored to local consumer needs.
5. Competitive Landscape Analysis: Assesses key market rivals including Athleta, Lululemon, and Under Armour through competitive benchmarking.
6. Merchandise Analysis: Details the application of ABC and Multi-Attribute methods to manage inventory performance effectively.
7. OV Recommendations: Proposes the launch of custom pop-up stores in airport hubs to drive growth and bridge current sales gaps.
8. Sales Projections: Outlines the financial forecasting methodology used to estimate future revenue growth in light of changing market conditions.
Keywords
Athleisure, Outdoor Voices, Retail Strategy, Pop-up Stores, Consumer Analysis, Competitive Landscape, Merchandise Analysis, Gap Analysis, Location Strategy, Sales Projection, Sustainability, Brand Presence, Inventory Management, Airport Retail, Market Trends
Frequently Asked Questions
What is the core focus of this business report?
The report focuses on expanding the physical retail footprint of the brand Outdoor Voices to reclaim growth and increase brand awareness in a competitive market.
What are the central themes discussed in this analysis?
The central themes include market evolution, competitive benchmarking within the athleisure industry, inventory management techniques, and strategic retail localization.
What is the primary objective of the proposed business plan?
The objective is to implement pop-up stores in three major U.S. airports to address sales gaps and provide unique, location-specific experiences to consumers.
Which scientific or analytical methods were applied?
The report utilizes ABC analysis for inventory, Sell Through Analysis for performance tracking, and a Multi-Attribute Method to evaluate vendor and location options.
What does the main body of the document address?
The main body covers a comprehensive industry and customer analysis, competitive intelligence, merchandise evaluation, and specific location-based recommendations for Atlanta, San Francisco, and New York airports.
Which keywords best characterize this work?
Key terms include Athleisure, Retail Strategy, Pop-up Stores, Consumer Analysis, and Airport Retail.
Why was the airport sector specifically identified for the pop-up strategy?
Airports were chosen because they serve as high-traffic hubs with a diverse range of international and domestic travelers, offering a prime environment for building brand buzz.
How does the author suggest customizing the pop-up stores for each city?
The author recommends incorporating local branding, such as sports-related themes prominent in each city (e.g., tennis in Atlanta or golf in San Francisco), to enhance the visitor experience.
What role does the "humanization" of stores play in the brand's strategy?
Humanizing the stores through curated playlists, local community integration, and interactive games helps build a deeper, more emotional connection with the customers.
- Arbeit zitieren
- Anonym (Autor:in), 2022, Bridging the Gap in the Growing Athleisure Market. A Location Analysis and Customized Pop-Up Store Proposal for Outdoor Voices, München, GRIN Verlag, https://www.grin.com/document/1348570
