House 337 has launched The Demand Index, a new series of industry-specific reports, the first of which is dedicated to how fashion brands can drive growth by creating appeal.
Called Fashion driving growth through convenience: who’s winning, why and how to join them, the report contains the findings of the first nationally representative survey of UK fashion brands after the pandemic that now face a cost of living crisis.
The report leverages critical data collected from the top 40 UK fashion brands. A panel of branding experts, futurologists, business leaders, publishers and social platforms were invited to challenge and interpret the findings.
The result is a comprehensive look at how many of the UK’s leading fashion retailers underperform in the key metrics that drive convenience: the brand itself, the customer experience and the product’s ability to meet expectations.
Each of the 40 brands in the Index has a customized dashboard, presenting 36 demand metrics based on individual performance to enable brands to measure performance and take corrective action.
Six macro-themes emerged, which are extensively explored in the report:
- Warm is the new cool: inclusion replaces exclusivity
- Cost per wear drives purchasing decisions: Perceived quality emerges as the most important driver of desirability
- Brand experience is key to memorable marketing: compelling experiences are essential to stand out
- Customers align with communities that cross demographic boundaries: consumers now prefer communities to tribes of identity
- Sustainable fashion has reached its tipping point: expectations have risen, but systems must adapt and consumers must change their behaviour.
- Earn the right to play in digital spaces: Trademarks fail to meet the fundamentals of the omnichannel experience
Zara Ineson, Executive Creative Director of House 337, said: “Today’s consumers want a deeper connection with the brands they invite into their lives and wardrobes. What were radical brand behaviors five years ago are now the baseline. CEOs and marketers must be bold to succeed in such a turbulent but hugely innovative time for fashion retail. There is no magic wand: convenience is a sum of parts. Brands should work with their creative partners to solve business problems in a more lateral way.”
Sam Sheterline, with over ten years of experience driving brand and business growth for companies including M&S, F&F, Dr Martens, Mr Porter & This Works, during his time on the leadership team of the fashion and lifestyle specialist ODD, is moving into his new role as Executive Director, Fashion, Wellness and Lifestyle at House 337. Sam will report to House 337 CEO Phil Fearnley.
Sam said: “We are living through a period of fear and confusion, but disruption brings great opportunity. The findings in this report are the perfect provocation for brands to step back and re-evaluate what it takes to shape and win the future. At House 337, we are perfectly placed to help brands on this journey. We believe that the power of creativity can improve the future of your people, your customers and the planet.”
House 337 is a creative collective formed by the merger of Engine Creative with lifestyle creative agency ODD Group. Launched earlier this month, its services for brands include leveraging House 337’s award-winning heritage in advertising and communications, brand consulting; Experience Design; Communities and Content, Ethical Consulting and Product Innovation.