Why safe is not a safe strategy on today’s high street
It’s never been harder to survive on the high street. Rising rents, uncertainty over Brexit and the increased threat from online retailers have created a perfect storm. Sixteen shops close every day in Britain. In the US, online shopping is predicted to outpace in-store sales this Christmas.
How can brands survive the fierce climate of the high street? And how can brands tempt people off the street to spend their money? One way to assess a retailer’s strategy is to look at the messages they are putting in their windows. The shop window is a retailer’s Out Of Home display. The effort that long-standing retailers like Harrods and Fortnum and Mason’s in London show that the effort to advertise in those physical spaces is highly impactful for those brands.
Regents Street, London, is one of the busiest shopping streets in Europe. Looking at a cross-section of retailers along the street, we can see what approaches they’re taking to advertise their brands. What is as transparent as the window glass we’re looking through, is that brands are playing it far too safe when it comes to bringing people in. Let’s look at some examples:
Superdry — #SDMYWAY
In this display, Superdry put influencers front and centre and showed how different influencers have used Superdry clothes to create different looks. Although Superdry defines itself as blending “vintage Americana” with Japanese graphics, their products focus on sweats and t-shirts. With that in mind, the brand has gone one step further, focussing on customisation. The #SDMYWAY is both an online and offline influencer campaign, increasing relevance to the brand.
Lagerfield — #TRIBUTETOKARL
Karl Lagerfeld takes a somewhat similar approach to Superdry (who would have thought it). The designer was reported to have said, ‘If you ask me what I’d most like to have invented in fashion, I’d say the white shirt. For me, the white shirt is the basis of everything. Everything else comes after.’ In a tribute to the recently deceased designer, the brand has created collaborations with ‘Karl’s friends and family’ to reinterpret the humble white shirt. Shoppers can pick up a fashion classic and wardrobe staple, reinterpreted by fashionistas like Carla Delevingne, Diane Kruger and Kate Moss. As a designer brand Karl Lagerfeld by default sits on the upper end of the high street, but what the brand is ultimately selling here is a white shirt. It’s safe.
J Crew: Classics with a Twist
Talking about playing it safe, further on down the street comes J Crew, focusing on classic styles and colours. The brand is advertising reassurance: the customer will get something that lasts — a classic — but something that will be sufficiently different that it looks fresh — the twist. As we move along Regents Street, it seems that from high to low-end, all brands are putting their own spin on products that are dependable.
Polo Ralph Lauren — Denim
On the same classic theme, Polo Ralph Lauren have put Denim front and centre. They have focused on 5 different looks to show how they can cater for different styles and needs. What elevates if from another GAP-style offering is their naming of each look. So instead of the slim fit you have ‘The Varick slim straight’ and other designs such as ‘The Avery boyfriend’. I have no idea what any of that actually means but it still proves one thing: The brand is taking a dependable product and trying to put its own spin on it. Again, playing it safe.
Lululemon — Feel at one
Lastly, Lululemon focusses on the weather and an Autumn wardrobe. The brand’s copy at the bottom-left of the display says ‘when you and your environment are connected, good things happen’. The promise here is a wardrobe that is going to get you through the season whilst still looking good. No doubt a competitor against the juggernaut that is Uniqlo’s HeatTech range.
What is clear from looking at Regent Street is that many retailers are taking similar approaches to attract consumers and that these strategies are all about safety and security. Three key themes emerged:
Reassurance
As people are increasingly cautious about spending money, retailers are seeking to reassure people about the value they offer. Influencers and celebrities reassure that a brand’s clothes are fashionable and on-trend.
Timeless and Classic looks
Other retailers are stressing the ‘classic’ nature of their offering. These are clothes that won’t date so you can wear them season after season. They also focus on wardrobe staples that you are going to wear time and time again. This is not the time to take risks in new releases.
Customisation is increasingly important
A third strategy is to focus on how products can be customised to appeal to customers on an individual level. If our online lives are perennially ruled by personal information we use to click and scroll, it’s no surprise that this should continue to the high street. In addition to having the product itself, there is the perception of added value as clothes can be used in multiple ways or designed around specific needs.
My over-riding feeling as I took a stroll down Regents Street was ‘where is the excitement’? The high street has a battle on its hands and is this safe and secure approach the way to win back customers? The high street needs more radical retail formats and new experiences to woo and wow customers. In the current environment, we need more radical experimentation; ‘safe’ is anything but the safe option.
Paul Wilson, Global CSO, Vizeum
