Question: Respond to the posting adding an additional INSIGHT or RECOMMENDATION for research or direction to investigate. Advise your peers as professional colleagues using articles, ideas
Respond to the posting adding an additional INSIGHT or RECOMMENDATION for research or direction to investigate. Advise your peers as professional colleagues using articles, ideas or insights - not just feelings. Please include links or citations for post.
High brand familiarity: Supreme is one of the most familiar brands among streetwear consumers. Thanks to its solidified name in the industry and the competitive business model, the brand is definitely one of the most recognizable in the world of streetwear.
Staying relevant: Constant collaborations spark interest and enthusiasm. Supremes constant collaboration with massive brands such as Nike, Louis Vuitton, Swarovski, Vans, and The North Face. etc. is a key factor for staying relevant. This will ensure a whole new market and targeted audience, as the brand can attract all these other customers who prefer to focus on high-end clothing, fine materials, shoes for skateboarding, or tactical wear, and offer them an exclusive product that can only be obtained on the Supreme website, or in person on Thursday morning. These collaborations happen every year, and never fail to sell out immediately after dropping.
Growing with the consumer: The target audience is Gen Z and Millennials, and this highlights growth as these younger consumers will be the ones to make the streetwear style more commonly adopted in the future.
Luxury non-luxury brand: Using exclusivity, limited supply per each release, and collaborations, Supreme can push itself as a luxury brand, which attracts a whole new consumer market of collectors, and resellers that keep the brand alive. Also, as the brand has a very limited number of stores around the world, the shopping experience for the consumer is perceived as an exclusive opportunity, making the customer feel like they are part of something special This is hard to attain at big designer stores as there are many locations and they are easily accessible.
Branding: Supremes iconic red box logo, which is easily recognizable, provides the brand with a strong competitive advantage as the logo is associated with the brands heritage, exclusivity, and other collaborations.
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