The first Uniqlo store appeared in Hiroshima, Japan, in 1984. Owned by Fast Retailing, the company started out as a roadside store and become an international fashion retailer. A retail analysis of Uniqlo shows that other companies can learn a lot from its success, as executives managed to succeed during a time when the Japanese economy was experiencing sluggish growth. You can use the information from this type of retail analysis and learn from the success of Uniqlo.
One thing you can learn from a retail analysis of Uniqlo is that the company is just as much about technology as it is about apparel. Vikram Kansara of "The Business of Fashion" says Uniqlo staffers have a flair for creating concepts built around innovation. In fact, the company's newest collection was actually designed to be continued every season. This makes the products in the Lifewear line similar to Apple's iPhone and other tech products. This approach shows the important of focusing on improving your products. Uniqlo executives are constantly updating and improving the company's offerings, which is why the company has been so successful.
Alex Kecskes touched on the trend of retailers using technology to exploit opportunities in the fashion market. He cites Hointer, a jean-manufacturing company, as one of the top examples of this trend. Hointer now uses mobile technology and robotics to make it easier for customers to select the perfect pair of jeans. The company integrated technology into its retail business based on the needs of customers, which is exactly how Uniqlo comes up with new designs. The chief executive officer of Uniqlo Europe says that the company does not design clothes based on color and style trends. Instead, designers base their work on the requirements of the people who will be wearing the clothes on a daily basis. A retail analysis of the company shows that this approach works, so always remember to offer new products and services based on actual customer needs.
It is important to review retail information about Uniqlo's operations to truly understand why the company has been a success. Uniqlo's founder recommends creating mutually beneficial partnerships with people around the world. You must let go of any arrogance you have about why your company or country is the best. He also recommends keeping your national identity close to your heart when trying to bring a new product or service to a global market. This advice is just as valuable as the retail information gained by performing a retail analysis on the apparel retailer.
It is your responsibility as a retail professional to stay up to date on the trends in the industry; however, you should not let those trends cloud your judgment. Take the information gained from a retail analysis of Uniqlo and use it to blend technology with the foundations of retail marketing. Using this information wisely can help you make more sales or break into new markets.
(Photo courtesy of freedigitalphotos.net)
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