Is Burberry a niche market?

Burberry is defying what other luxury retailers are struggling with in this economy. It has found its niche client-base, hedged against economic slowdown and increasing its profit margins.

Is Burberry a niche brand?

Burberry is one of the most influential fashion brands in the world. Since the company's creation, it has been a prominent name among fashion critics and buyers, setting its niche really into the high-end customer.

What market does Burberry operate in?

Established in 1856, the company mainly focused on outdoor attire at the onset before moving on to the high fashion market. The company has now grown to become one of the most valuable luxury brands worldwide.

What kind of people buy Burberry?

As I mention, the current target audience of Burberry comprises of high-class people, mostly celebrities. And their main focus is the Burberry heritage product – trench coats. The target audience of this strategy is men-women between the ages of 20-45 years from middle income to lower upper income group.

What is the strategy of Burberry?

In 2017, we set out a strategy for transformation and growth, to elevate Burberry to a true luxury positioning. Since then, we have revitalised our brand, strengthened our product offer and elevated our customer experience.

What is a Niche Market?

Who is Burberry's competition?

Burberry competitors include LVMH, Tommy Hilfiger, Gucci, Armani and Billabong.

What makes Burberry competitive?

Apart from the brand equity, Burberry's specialised product line, mainly its 'trench coat' trademark plays a more significant competitive role. Additionally, the presence of a marketing communication platform that consists of a unique complimentary social media also makes the Burberry brand more specialised.

How is Burberry perceived?

Among Burberry users, the brand judgment is generally very positive. Consumers judge the brand to be an established luxury fashion brand. They think that it is professional and is well-known for its unique designs.

What makes Burberry stand out?

Burberry sticks by its British identity, promising its customers the true-blue English style, through clean and smart designs, with checked prints being a well-recognized symbol of the brand. The Burberry trademark also gives consumers the assurance of consistency in the quality and durability of products delivered.

What makes Burberry special?

Burberry is one of the most iconic brands of all time. It's also one of the most distinctive, thanks to its trademark check pattern that makes it instantly recognizable. The brand has defined elegance and class for decades, although its history goes back quite a bit further than most people know.

How is Burberry different from other brands?

Burberry is a brand that is strongly integrated with British culture. Its value proposition (the benefits that consumers expect by purchasing a product) is grounded on both function and emotion. The functional benefits are high-quality, product category variety, and innovative, modern styling of classic designs.

What is Burberry's pricing strategy?

Burberry Price/Pricing Strategy:

Burberry uses premium pricing strategy to sell its products. The right mix of low cost range and the high end premium products is what Burberry aims to achieve. Being a luxury brand Burberry does not compete directly on price in its marketing mix with its competitors.

How does Burberry promote their brand?

Burberry has switched the focus of its marketing away from glossy print advertising in favour of digital investment. The luxury fashion brand is promoting the launch of its fragrance Burberry Body through Facebook, instead of glossy fashion magazines for the first time, according to the Financial Times.

How is Burberry innovative?

Burberry transforms customer experiences through digital innovation. Burberry is driving growth through inspired customer journeys, bridging the gap between digital channels and stores by leveraging digital technology. During the National Retail Federation's Big Show digital conference on Jan.

Is Burberry sustainable?

The British luxury brand Burberry becomes part of the Sustainable Luxury Movement: In addition to a fairly produced coat collection, the luxury label has a climate neutral Aimed for production by 2022. Especially for that Fashion industry this is an ambitious goal.

How does Burberry use social media?

The luxury fashion house has partnered with Tencent, the developer behind Chinese social media and payment app WeChat, on a 'mini program' that “connects and rewards customers as they explore online and in store,” according to Burberry CEO Marco Gobbetti.

What does the Burberry brand represent?

Burberry's visual identity embodies a horse rider carrying a shield. Although the shield symbolizes protection, the equestrian depicts grandeur, pride, and purity. Colors: The black in the logo represents the elegance, durability, and strength of Burberry's products.

What is Burberry brand personality?

Burberry gives off a strong, distinguished personality; full of pride. The classic feel of the brand also adds to the appeal, while still being able to remain youthful. Culture – The rich heritage of the brand, from the trench coat to the check pattern.

Does Burberry retain value?

In addition, the ThredUp 2019 Resale Report states that Burberry is the luxury brand with the best resale value; Louis Vuitton, Gucci, Hermès, and Prada are lower on that list.

Where are Burberry's suppliers?

Our highly skilled craftspeople make our products at Burberry-owned manufacturing sites in the UK and Italy, as well as via a network of global suppliers, a large proportion of which are in Europe.

Is Burberry relevant?

Today, Burberry is a highly relevant brand that all luxury consumers know and consider.”

Is Burberry a leading brand?

Most valuable global luxury brands 2021. This statistic depicts the brand value of the leading 10 most valuable luxury brands worldwide in 2021. In that year, Burberry was the ninth most valuable luxury brand worldwide with a brand value of about 3.9 billion U.S. dollars.

How did Burberry reclaim itself as a luxury brand?

By reinforcing its place in the luxury world as a true British heritage brand, Burberry regained its prominence. It represented brave officers going to the frontiers in World War I. It was the brand that dressed explorer Roald Amundsen on his journey to becoming the first man to reach the South Pole.

How can Burberry improve?

Burberry plans to “supercharge” online sales through digital leadership and to invest in omni-channel experiences including the store while in building brand engagement and by focusing on its core luxury outerwear and leather categories. It will also focus on full price sales as it looks to improve its profitability.

Is Burberry higher than Gucci?

Statista estimates Burberry's brand value at 3.9 billion euros at about one-tenth of Gucci's brand value at 33.84 billion US dollars.