In the era of Western Fashion, Forever 21 is no stranger! The very prominent apparel brand was founded by Do Won Chang and his wife, Jin Sook Chang. Forever 21 is an American-based brand, headquartered in Los Angeles, California, United States.
In the beginning, the brand was called Fashion 21 which was later grown into a huge clothing line of shops under the brand name of Love 21, Heritage, XXI Forever, and Forever 21. The American fashion brand was founded in 1984 and ever since its establishment, the company has seen immense success. In fact, today Forever 21 owns 800+ stores across the globe.
Forever 21 was established for offering a broad range of women's clothing but now, the brand has widened its categories and included various sections like Men, girls, lifestyle accessories, and others.
A huge fraction of the apparel manufactured by Forever 21 is from China and then exported to other countries like the United Kingdom, Middle East, and the United States. The company functions with annual revenue of $3.96 billion. And in this article, we will be discussing the marketing strategies of Forever 21. Let's get started!
Product Marketing Strategy of Forever 21
Target marketing strategy of Forever 21
Pricing Strategy of Forever 21
Distribution Strategy of Forever 21
Promotion and Advertising strategy of Forever 21
FAQ
Product Marketing Strategy of Forever 21
Forever 21 has been around for a long time now, it offers a wide range of clothing in all categories for men and women. The brand has a very strong position in the global market with a diverse range of product portfolios.
From kids to adults, you can find clothing of all ages. Its main target for clothing products is adults, kids, and toddlers. Forever 21 provides jeans, tops, jumpers, lingerie, and many other clothing products.
Besides its clothing section, Forever 21 also provides accessories sections including belts, ties, hats, gloves, sunglasses, and many more. Moreover, its jewelry section includes products like watches, body jewelry, pins, brooches, and others.
Apart from this, Forever 21 also offers footwear products like loafers, wedges, sandals, boots, and heels. Forever 21 keeps its product range distinct and with great customer engagement.
Target marketing strategy of Forever 21
Forever 21 puts its major focus on attracting women of all ages. Its products are specially designed in such a way that it satisfies the fashion sense and style of women from teenagers to adults.
Forever 21 is ranked at second position in the list of top 1000 Internet retailers in 2019, for young adults and teens. Around 45% of the brand's entire online customers are millennial women.
With these high-rated customers, Forever 21 makes a fancy income annually of around $30,000. Which certainly is a huge figure. And that's why it mainly focuses on females from all categories. Although the brand does offer men's collections, its major market revenue source is women.
Pricing Strategy of Forever 21
Forever 21 is widely famous for its strategic pricing techniques. The brand offers great pricing deals according to the demands of the fashion product. Forever 21 is receiving great responses from the customers as well. Brand's valuation in the global market is increasing with great percentages.
Forever 21 has a great revenue stream which in fact, majorly increased within one year; from 3.9 billion to 4.5 billion. The brand has one of the top fancied brands with its incredible marketing policies and strategic planning's.
Distribution Strategy of Forever 21
Forever 21 began its journey from Los Angeles, California, and today, the brand has spread across Europe, Asia, Africa, Middle East, and America. The brand owns over 600 retail stores worldwide.
In fact, Forever 21 has reached countries like India, Australia, Japan, Brazil, the United Kingdom, and Germany. Forever 21 functions with very strategic distribution and marketing planning.
With such an immense network, the brand is looking forward to establishing its outlets in Malaysia, Greece, Israel, Russia, and Costa Rica.
Forever 21 retail stores are well designed and large, suiting its fashion styling. The brand has a huge networking channel for the distribution of its products and services across the globe. Its distribution network includes Suppliers, Vendors, and franchise owners.
Promotion and Advertising strategy of Forever 21
Forever 21 carries a very strong social media presence in order to promote its services and products. It works on improving customer services and relations from all prospects.
Forever 21 promotion strategies are entirely based on increasing the brand's reach and capitalize on its market share. Social media platforms like Facebook, Twitter, Instagram, and Pinterest have worked promptly towards enhancing brand awareness among the global audience.
Forever 21 functions very strategically when it comes to advertising and promotions of the brand. Forever 21 popularity can be easily estimated from the number of followers the brand has on its official website. Its major advertising and promotions are done through social media channels.
Conclusion
The marketing strategies of Forever 21 are pretty straightforward and relying on. The brand offers custom, fast-paced, and low pricing clothes to gather its audience and build strong customer support.
Although the brand still requires a few improvements and alterations to the quality of its products, the quality isn't resisting. Forever 21 offers a huge range of fashion clothes and accessories to its customers with great offers and discounts. And that's what attracts more customers towards the brand.
Forever 21 always keeps up with the trends and prefers experiments on its products. In the upcoming year, Forever 21 is set for more uprise success flow.
FAQ
What is the target market of Forever 21?
The target market of Forever 21 are young consumers.
What is Forever 21 marketing strategy?
Forever 21 carries a very strong social media presence in order to promote its services and products.
Who is the founder of Forever 21?
Do Won Chang and Jin Sook Chang founded Forever 21 in 1984.
Author: Pratyusha Srivastava
Source : https://startuptalky.com/forever-21-marketing-strategy/
Date : 2021-08-29T07:30:00.000Z