THE FUTURE OF THE DROP MODEL - Will The Drop Model Continue To Create Opportunties For Innovative Brands Within Streetwear and Luxury Fashion? ...
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THE
FUTURE OF
THE DROP MODEL
Will The Drop Model Continue To Create Opportunties For
Innovative Brands Within Streetwear and Luxury Fashion?
Final Major Project
Lynette Sraha
1
FIGURE 1: Nike Air Jordan 1 Bred Toe (Hassan,2019)
executive contents
summary I N T R O D U CT I O N 4-5
RESEARCH
6
METHODOLOGY
This report explores the drop model, a contemporary strategy used SECTION ONE: HOW THE DROP MODEL WORKS 8-9
often by brands within the streetwear, and more recently, luxury apparel
market. The aim of this report is to identify opportunities for brands, who CASE STUDY 1: NTWRK : ONLINE RETAIL DROP 10
utilise the drop model, to consider, in order to differentiate themselves
GAMIFICATION 11
in an increasingly saturated market. As well as inform brands who do not
use the drop model of the benefits and risks the drop model presents. CASE STUDY 2: NIKE X VIRGIL AIR FORCE 1 12
CAMPAIGN
Following an introduction to the drop model and a breakdown of the OMNI- CHANNEL RETAIL 13
research methods within this report, section one investigates how the
drop model works. Analysing the various adaptions of the drop, and how SECTION TWO: WHY THE DROP MODEL
it has evolved both online and offline. HAS BEEN SUCCESSFUL
Section Two, analyses the factors that have made the drop model a CURRENT FASHION ENVIRONMENT 15
successful brand strategy, discussing the roles that Millennial, Generation BRAND COMMUNITIES 16
Z consumers, brand communities and fast fashion have played in the
effectiveness of the strategy. CASE STUDY 3: THE BASEMENT 17
CASE STUDY 4: ADIDAS CREATORS CLUB 18
Section Three provides insight into the impact of the drop model,
discussing the impact on brands, and the ways it creates value for them CONSUMER ANALYSIS 19
and the impact on the wider fashion environment, considering the
popular resale market.
SECTION THREE: IMPACT OF THE
The final section, proposes a series of recommendations for brands to DROP MODEL
consider in order to innovate the way they use the drop model. The
fashion environment is constantly evolving. Shifts in consumer thinking CREATING VALUE FOR BRANDS 21
and behaviour, especially against the backdrop of the 2020 coronavirus THE RESALE MARKET 22
pandemic, challenge brands to keep up with new ways of thinking,
delivering service and product. These recommendations consider the SECTION FOUR: FUTURE OF THE DROP MODEL:
way brands can use the drop model to approach the changing role of the RECOMMENDATIONS
physical retail store, new technologies, the rise of the resale economy and
targeting niche consumer audiences. RE-INVENTING IN STORE RETAIL 25 - 29
- Visual Merchandising
- Payment Methods
- Retailtainment
ENGAGING WITH NEW TECHNOLOGY 30 - 31
-Blockchain Technology
INTERACTIONS WITH THE RESALE MARKET 32 - 33
REACHING NICHE CONUSMER MARKETS 34 - 35
CONCLUSION 36
REFERENCE LIST 38 - 46
FIGURE 2: The Supreme Case (Beauloye,2018)
2 Word Count: 7643 words BIBLIOGRAPHY 47 3FIGURE 3: Adidas Originals X Danielle Cathari Season 4 (Abbot,2019)
INTRODUCTION
‘The harsh reality is that it is
increasingly hard to excite and inspire
audiences who are overwhelmed
and overstimulated’ (Business of
Fashion et al, 2019). In this digital
age, consumers are bombarded with
vast amounts of information online
via social media, websites, their
phones and offline, on TV, radios,
print magazines and billboards. The
difficulty that arises for brands is MAIN STREET
(EARLY) MAIN STREET
being able to capture and hold the MAIN STREET (DECLINING)
consumers attention, enough to (MATURE) FAULT LINE
create brand resonance. However, a EARLY BOWLING
TORNADO
strategy that has proven successful
REVENUE GROWTH
MARKET ALLEY
over the past 10 years in capturing
THE END OF LIFE
the consumer attention for a wide CHASM
range of brands, is the drop model.
Identified by Oracle (2019) as one
of 2019’s top retail trends, a drop
is a ‘sales tactic, which consists of TIME THE MARKET DEVELOPMENT CYCLE
releasing a limited-edition product or FIGURE 4: The Market Development Cycle (Moore,2004)
Plainly, if a product does not
immediately sell out and hit the resale
market at a premium, a brand has not
been successful in implementing the
model (Hypebeast, 2019). Therefore,
collection in small quantities at select brands must develop their marketing
retail location, without much advance mix to generate the level of hype offering and reward each with an
warning’ (Elven,2019). Numerous around a product necessary for it to uptick in purchasing (Moore, 2004).
streetwear brands have proven that sell out. Therefore, as shoppers, particularly
‘the combination of a coveted label,
younger generations are becomingly
suddenly available new product and This form of business model increasingly uninterested in the
very limited quantities equal buzz, innovation, is in the early main street traditional shopping experience
demand and often, immediately sold phase of the market development and brands are coming up with new
out goods (Dool, 2017). The tipping life cycle. (See Figure 4) The era of ways to stay relevant, (Baram,2018)
point between supply and demand is hyper-growth has subsided, but the the drop model presents an
crucial. Once the supply of a product category of brands using the drop opportunity for brands to address
surpasses demand, the entire model strategy is still growing. At this stage buyers fatigue in a innovative
crumbles. customers are focused on seeing manner.
systematic improvement in the
44 5RESEARCH
THE DROP MODEL PURCHASE DECISION PROCESS
EXTERNAL INFLUENCE
FIRMS MARKETING SOCIOCULTURAL
METHODOLOGY
EFFORTS ENVIRONMENT
• LIMITIED EDITON • ONLINE COMMUNITIES
INPUT PRODUCT • PRESS (e.g. HYPEHEAST,
• SOCIAL MEDIA HIGHSNOBIETY)
PROMOTION • APPS (e.g. NTWRK,
• E-MAIL MARKETING FRENZY, GRAILIFY)
FIGURE 5: Adapted Consumer Decision Process Model (Author’s Own, 2020, Adapted From Schiffaman & Kanuk,2004)
• BRAND WEBSITE/APP
The drop model is a multifaceted The primary research investigation was
retail strategy, therefore to investigate approved by University of Southampton’s
thoroughly and draw insightful ERGO committee, adhering to the
conclusions and recommendations, universities research standards by giving
secondary and primary sources were informed consent and voluntary participation
used. This report conducts an in- depth for interviewees and respondents,
review of literature and opinions avoidance of harm, having full anonymity
from industry experts, in fashion for questionnaire respondents and NEED PSYCHOLOGICAL
RECOGNITION FIELD
CONSUMER DECISION
retail strategy, fashion branding and confidentiality of any personal information.
streetwear and luxury professionals • MOTIVATION
whose brands who currently utilise • PERCEPTION
the drop model. Further supported • LEARNING
MAKING
by up to date articles by publications, • PERSONALITY
PRE
such as Highsnobitety and Hypebeast PROCESS • ATTITUDES
who are important players in the drop PERCHASE
culture being reported on. Online SEARCH
sources also cover a variety of videos,
periodicals and online articles that
cover fashion business, as well as
wider market research sites such as EVALUATION
Mintel, Euromonitor, LS: N Global and OF
Mcksinsey that provide insights based ALTERNATIVES EXPERIENCE
on research data. As well as this, sources
include investigative studies, research
reports and academic journals found
through academic databases also form
the basis of the secondary research in PURCHASE FAILED
POST DECISION
this report.
BEHAVIOUR
PURCHASE
TRIAL ATTEMPT
Primary research that informs this
report includes quantitive data obtained
through an online questionnaire OUTPUT
undertaken by 50 participants, from a FUTURE
population of consumers who engage
BRAND
with the drop model with various brands
in the fashion industry. The sample is a PURCHASE
voluntary sample of participants, as not RESALE
to be influenced by the author, obtained MARKET
from the survey being shared online, in
online forums, and groups around this
6 topic. 77Being able to successfully execute a As the fashion environment has evolved,
drop, requires the correct amount of the drop model has also been used and
hype, around the event. Hype culture adapted by various brands. For example,
is a term used to describe a generation as the fashion retail experience has
obsessed with finding the next big thing. become more digital, with online sales
It is a culture bent on excitement and accounting for more than 20% of total
adrenaline (Sluis,2017). These drops are retail sales of clothing and footwear
a reaction to this on demand culture, (Sabanolgu, 2020) the drop model has
where brands are expeced to cater evolved to operate as effectively online,
to demands with a sense of urgency. as it had offline. Through e-commerce
Combine that with an exclusive, unique and apps, the convenience of the
offering which keeps consumers on drop model has increased and made
their toes and the drop culture is born a community that is easily accessible.
(Design4Retail,2019). Apps such as Frenzy and NTWRK, have
given a platform to create new shopping
The use of the drop model by successful experiences with customers. Creating
streetwear brands such as Supreme and a channel where new products can be
Nike, has created what experts have announced straight to the consumers
named ‘drop culture’, which refers to phone, permits a more personal
the thinking, behaviour and community interaction which younger consumer
surrounding a drop. Drop culture grew have become accustomed to with
around the thrill of the drop. The lines, brands. 27% of research respondents
1
the frantic shopping, the anticipation said they receive information on drops
of future drops, the reselling of out from apps, such as Dropdate, Frenzy
of stock goods - these all make up and Grailify. However, as the drop has
the culture(dictionary.com, 2018). been transformed online, customers
Drops have transformed the customer face new issues such as internet bots
purchase decision making process, as it buying product. Therefore there are
changes the pre- purchase, purchase and opportunities for brands to innovate the
FIGURE 6: Supreme Spring/Summer2017 Collection (Vogue Paris,2017)
post purchase aspects of the customers model in order to address obstacles such
experience with a brand. (See Figure 5) as this.
Drop culture has been able to make The model has also been adapted by
HOW
literally anything Supreme sell seem some brands to work on a calendar,
desirable - including non fashion items dropping product on a weekly or
such as incense, a crowbar, a brick, monthly basis, ‘the strategy takes the
and a hammer. This culture is less timing element out of the surprise
about product and more centred on and replaces it with anticipation of
THE DROP
scarcity in supply and demand, using the regularly scheduled drop event’
conspicuous consumption as a motivator (Bosavage, 2019). In the luxury fashion
for consumers to purchase products sector, Burberry provide an excellent
(Legend, 2019). But while this strategy example of this being successful,
is great for getting mentions on social especially as a pioneer on selling via
MODEL
media and bringing new customers into social media. Dropping a selection of
stores, there’s no denying that its sucess products on the 17th of every month for
is based on selling limited amounts of 24 hours only on Instagram, We Chat,
product. Therefore this means that as a Kakao and Line (Santamaria, 2019).
strategy it can be quite restrictive, niche Therefore, this shows an example of
WORKS.
and not optimised for the mass market. how the drop model has evolved to suit
(Walker,2017) Therefore, it is important the needs of the targeted consumer
that when considering implementing the audience, this means as consumer needs
drop model, brands assess whether it change, the drop model can be used to
aligns with their objectives and goals. enable brands to adapt their business
model.
88 9CASE STUDY 01
NTWRK
DROP CULTURE
“ GAMIFYING THE DROP
DROP CULTURE
online retail drop
NTWRK is a streaming platform that gives
consumers access to live by- appointment EXPERIENCE, CONSUMERS
drops featuring exclusive, limited -edition
product available to purchase immediately FEEL A BIGGER SENSE OF
GAMIFICATION
within its app (Sherman, 2018). Launched
in 2018, NTWRK embraces the idea
‘retail-tainment ’ a new way of using new
OWNERSHIP AND EMOTIONAL
and exclusive content to sell product as RESPONSE TO THE WHOLE
EXPERIENCE ”
well as giving consumers easy access
to information about what products are
dropping, in many product categories, from
toys to t-shirts. As well as easy access to (BESMAT, 2019)
this information via their mobiles, being
able to receive notifications and updates Another way that the drop model for consumers. Besmat (2019)
when they please. Not only this, NTWRK has been adapted, is through contributes ‘by gamifying the
is able to foster an online community of the introduction of gamification drop experience, consumers feel
like-minded individuals who are interested into the consumer experience a bigger sense of ownership and
in the same products, with the ability to with a brand. Gamification refers emotional response to the whole
comment on drop and stream content live. to ‘the process of adding game experience – in other words, by
mechanics to processes, programs making them work for it, they value
With a focus on content, video streaming, and platforms that wouldn’t their purchases, and the brand,
easy access to drops and information about traditionally use such concepts more. As 67% of US millennial
drops, NTWRK is able to thrive due to (Swan, 2012). This is designed consumers say that they prefer to
engage it Gen Y and Gen Z target audience, to elicit specific, predictable spend on experiences instead of
and ability to merge media, pop culture behaviours, while simultaneously thing (Mintel, 2018), this marketing
and retail effectively. This adaptation of absorbing individuals in the strategy offers consumers not
the drop has made more of the experience, experience by making it engaging only exclusive product but also a
from pre- purchase to post purchase, and compelling (Alberts et al, memorable personal experience.
honing the idea of drop culture even 2011). The enthusiasm over
further by bringing aspect of TV, music gamification amongst marketers
and retail together on one platform where has been driven by the observation
consumers are able to converge be part of a that games engage people, and
brand experience on an external platform. FIGURE 7: NTWRK (Panzarino, 2019)
that this engagement is sustained
over a period of time (Insley et
al, 2014,p 343). Gamification
combined with the hype around
the drop model introduces a new
concept for brands to consider,
using competition as a motivator
1010 11
11CASE STUDY 02
NIKE X VIRGIL
RETAIL
AIR FORCE 1
LOWS
DROP CULTURE
DROP CULTURE
GAMIFICATION
Nike have been a forward-thinking brand when it
OMNI CHANNEL
comes to innovating using the drop model. As part of
the launch of Nike Air Force 1 ‘The Ten’ collaboration
with designer Virgil Abloh, Nike demonstrated this
innovative thinking by merging augmented reality,
geo- location technology and gamification to create
a new memorable experience for buyers of the
drop. In order to access the drops buyers had to find Opportunity to create resonating brand dropped, and was only available through
promotional sticker and billboards around New York experience, using the drop model, lies the Nike+ SNKRS app. The process has
(which they called “targets”), then using the Nike within the prospect of merging the evolved beyond the act of buying shoes,
SNKRS app use the camera view and point it at the online and off-line experience. Kidder a feat of competitiveness that’s fuelled
physical advertisement to reach an “Unlock Now” (2019) contributes that brands need by adrenaline. These people aren’t
option along with a 3D model of the shoe. Following to abandon the false choice between purchasing shoes so much as hunting
that customers simply checked their size, address, offline and online shopping, go beyond them(Santos,2017).
payment details at were able to purchase with one mere omnichannel commerce, and
click. question creatively as to how to tend However, it is important to know
to both the digital and brick-and-mortar your target audience when executing
This innovative twist on the traditional drop, allowed aspects of retail in an integrated, holistic strategies such as this. As some
Nike to not only target consumers within a specific and innovative way. The drop model, consumers, this could be more of an
location but also used a scavenger hunt like tactic allows brands to explore opportunities inconvenience than just being able
to engage users, mirroring the hype that was around to do this. By making the process more to purchase online. Therefore, this
the Pokémon Go phenomenon in 2017 and creating than simply being able to immediately means in order for this to be effective,
a new tactic for overcoming bots. Furthermore, the purchase a new product creates a aspects of the marketing mix must work
engagement with the SNKRs app allowed Nike to sense of excitement among consumers, to motivate the consumer to want to
see where users were using their location services encourgaing active engagment, a strong participate in the drop. Despite, this
on their phone and also encourage, any users who example of brand resonance. limitation, it is important to recognise
may not have an account to sign p and add in all their the new opportunities presented as this
details that way they are able to make their purchase For example, location based drops, which concept introduces new ways of thinking
quicker once they had scanned the target. allows drop products only to be available by showing that it is no longer necessary
to customers who are in a specific to have a physical retail location to
In this strategy, Nike were able to create a controlled location, merges the digital and physical create an in- real- life experience.
environment with some of the consumers, as well as as mobile and app payments mean these Removing the need for onsite inventory,
FIGURE 8: Nike Scavenger Hunt (Bezamat,2018) transaction can take place on a brands fixtures or even a cash desk, brands can
having reporter and social media influencers taking
part too, as part of PR, their first-hand experience own platform. McNab (2018) agrees focus on creating an experience that
also works to creating a positive brand outlook for that the multichannel mix should focus fosters the same sense of community
Nike, all the while still selling out these limited edition on the mobile channel to bridge online and connection but with a new and
sneakers. with offline. Nike experimented with modern twist (Sawyer, 2017).
this with their limited PSNY X Air Jordan
12s, customers had to be in one of three
designated locations when the shoe
1212 13
13FIGURE 9: Backstage at A-Cold-Wall SS18 (Rox,2018)
When considering why the drop model has that a limited amount of a product, makes
been a successful strategy for brands it is them want to purchase it even more. This
arguable that trends in the wider fashion provides an explanation for why consumer
environment have played a significant role are able to resonate with the drop model,
in the drop models effectiveness. Elven using esteem needs and belongingness as
(2018) argues that the need and underlying motivators (See Figure 10). According to
CURRENT FASHION ENVIRONMENT
premises [of the drop model] actually the law of supply and demand, items in
started with the concept of fast fashion. low supply often cost more, and therefore
It created a sense of urgency to buy, to scarce items are expensive items that act
go in store every week and buy straight as status symbols (Moore, 2019). Although
away as the product might not be there this may not be true for all drops, as the
the week after. A study on the behavioural price sometimes may not be considered
responses to perceived scarcity, comments expensive, the statement is true for the
‘the literature in scarcity has generally perception of the product. Furthermore,
examined consumers’ attitudes towards with such an active re-sale market following
scarce products and suggested that scarcity drops, this contributes to the rising price
messages have a positive effect on the of drop products. Anticipation for these
evaluation of attitude toward the scarce re- sale prices further elevates the idea of
object’(Gupta, 2016). Therefore this is a exclusivity and the notion of these items
strategy that motivates and resonates with being more valuable.
consumers. However, the argument that
that the success of the drop model derives However, as the industry is transforming
2
from fast fashion is inaccurate as the drop and consumers’ priorities changing in light
model has been a strategy used since the of the 2020 COVID - 19 crisis, brands
early 90s before the height of the fast must consider whether using scarcity as
fashion. a tactic will continue to effectively drive
sales. McKinsey’s 2020 COVID- 19 report
Scarcity in marketing uses the fear of suggests that ‘brands should use this time
shortage to sell more. (Ratcliff, 2014). In to reinvent how you they do what they do,
the context of the drop model, the fact that bring customers new alternatives, new value
product is only available once for a certain and in the process even reinvent your own
period of time (e.g. 24 hours) creates this brands.’ Therefore, there is opportunity for
sense of scarcity. Kolm (2015) study showed brands to innovate their business model and
WHY THE
that ‘60% of millennial consumers said they tailor aspects of the drop model to satisfy
make a reactive purchase after experiencing consumer needs could be they way to do
FOMO (fear of missing out), most often this.
within 24 hours.’ Supporting this, 67% of
primary research respondents confirmed
DROP
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FI
PHYSIOLOGICAL NEEDSAnother feature of the drop model by consumers for consumers. (See
which explains why its an effective Case Study 3) Specific groups can be
strategy, is the idea that drop culture tailored to audiences, for example,
creates the opportunity to connect ‘The Bae-sment’ is a female only
CASE STUDY 03
THE
like- minded people, in physical and group. Additionally, brands create
digital spaces. These consumers initiatives to connect the audience
would spend potentially hours using their websites and apps. (See
BASEMENT
queuing for a new drop. Through Case Study 4)
BRAND COMMUNITIES
social media these communities
were able to be formed just as easily
online. The Business of Fashion Team
Maslows hierarchy of needs (See
Figure 10) identifies, psychological
CONSUMER CREATED ONLINE
(2018) support this commenting ‘at needs as a motivator for consumers. COMMUNITY
the core of Supremes’ power to drive Brand communities allow people
demand for its productsis its abiltiy to to feel a sense of belonging, as
cultivate a community. It’s the critical well as prestige and feeling of The Basement has become one
ingredient that turns drops into ritual, accomplishment, when being able of Europe’s most influential youth FIGURE 12: The Basement Copenhagen Pop-up Shop
communities, with over 80,000 (Basement, 2019)
and t-shirts into trophies.’ to successfully purchase a limited
edition product. Business of Fashion members online. An online community
McAlexander, Schouten and Koeing (2018) supports this commenting ‘A which started as a streetwear
(2006) propose that there are four Supreme t-shirt is more than a fashion community expanded over the past
component relationships within a item. It’s a signifier of belonging. It’s 7 years to an online group where
brand community (See Figure 11). a marker of membership in a tribe of people discuss streetwear, sneakers,
Social media has given consumers people that have common beliefs and art, travel, music, food and more.
a platform to create private groups a shared identity.’ This demonstrates
forming customer - customer how social influence plays a significant What began as just an alternative
relationships, and creating hype role in consumer purchasing decision of SupTalk, for consumers who
amongst themselves. Primary research process, hence why its importance wanted to talk about all brands,
shows 63% of respondents said they cannot be overlooked by brands. A not just Supreme, has now become
receive updates on drops from an study, conducted by the University of much more than just an online
online forum or group. Michigan also reported a retailer saw community. With their own apparel
a 19% bump in incremental revenue line, collaborating with Nike on four
These communities also allow from customers after they join the shoes, pop -up shops, parties around
consumers to re sell products to site’s online community (Sherman, the UK and Europe, supporting Youth
each other, as a way of generating 2017) Therefore, this shows that Futures, a partner charity in Brixton,
income. Facebook groups are an the drop model is able to create it has transcended the internet,
easy and effective way of connecting value, using customer intimacy (See becoming a powerhouse online and
consumers, of all ages, online. Groups Figure 13) by forming emotional ties offline. (Basement, 2019)
such as ‘Yeezy Talk’, ‘Sup Talk’ ‘The between not only consumers but also
Basement’ are communities made the brand. With such a strong community, the
importance of platforms like the
Basement cannot be overlooked by
brands. Considering that these are a
customer customer customer customer large majority of consumers who are
product brand institution customer engaging with drops their behaviours
relationship relationship relationship relationship
and opinions, which they share in this
The relationship
group, can be extremely informative.
Considers the Emphasises developed Examines the
tangible product the emotional between the tribal influence
that is exchanged and symbolic customer and word of mouth
between brand connections the company yields among
and customer customers establish to which the customers.
(or the quality with a brand. brand belongs
and experience that ultimately
acquired. contributes to
loyalty.
1616 FIGURE 11: Brand Community Relationships (McAlexander, Schouten and Koeing, 2006) FIGURE 13: The Value Disciplines Model (Thind, 2018, 17
Adapted from Treacy and Wiersema, 1996)The drop model rose to prominence content via mobile devices, accessing
with the millennial generation, who have multiple mobile apps and regularly
CONSUMER ANALYSIS
become the largest generation worldwide receiving information via mobile (IBM,
(Tilford,2018). The strategy offers a sense 2012) Therefore there is opportunity for
of exclusivity and feeling of prestige, brands to advance the drop model to
which appeals to the innovators and early make it even more exclusive and create
adopters in the millennial cohort. (See excitement around the product and
Figure 15) This is evident not only in new innovative ways of engaging this
fashion, but also in other industries with consumer.
brands such as Apple, who are also able to
attract large queues outside their stores Combined the millennial and generation
for products, creating a sense of scarcity z consumers make up 64% of the worlds
which entices the millennial consumer to entire population (Bakhtiari,2019) with
FIGURE 14: Adidas & Urban Outfitters: We The Future (Outen,2016) want go and buy it even more. (Beauloye, a spending power of around $350 billion
CASE STUDY 04 no date) This is due to the fact that in the US alone, therefore the views of
ADIDAS CREATORS CLUB identity is extremely important to them,
millennials are more likely to identify
in the long term with brand they can
these younger consumers are critical
(Business of Fashion, 2019) The drop
models’ ability to address, their need for
COMMUNTIES CREATED BY BRANDS easily incorporate into their personal and social interaction, create sense of identity
In the US, Adidas have been The creators club use of a rewards tribal identities (Newman et al, 2016). and individuality and access to high valued
Therefore, the drop model works for them product is why is has been an effective
MILLENNIAL AND GEN Z INFLUENCE
successful in curating a community system is a great example of Adidas
themselves through their Adidas enhancing and personalising its as it gives them chance have specialist strategy for brands.
Creators Club. The success of the customers experience with the brand. knowledge about a specific brand, be part
platform in the US led to a UK version (Patos, 2018) Using these rewards to of a brand community and buy limited However, as the drop model develops,
being released in 2019, with plans create excitement for the consumers edition product which can make them brands may want to focus on not only
to expand further in Europe still and attaining an exclusivity through stand out within these communities. creating excitement among younger
in progress. The Adidas Creators the purchase they make and consumers, but also researching what
Club is a membership programme advancement of the levels, especially Additionally, the ageing generation z opportunities the model can create for
which rewards consumers with as individuals who reach icon status, consumers have also been significant in the older generation x and baby boomers,
exclusive access to the best products, the highest level of in the programme, the continued success of the drop model. especially as the drop model becomes
experience and services. Access to can win tickets to watch Adidas sports Similar to millennials, the strategically more prominent in luxury fashion. These
special events, product customisation, team or even an experience out at created sense of rarity and in- crowd opportunities could take the form of
priority service, members-only Adidas HQ in Germany. (Davey, 2019) community are seen as more unique, creating a new physical store retail
products, early access to launches, Furthermore, this programme uses the and uniqueness and individuality are the experience using the drop model, in
special offer and increased chances idea of gamification, as it encourages new cool for this generation (YPulse, places that older consumers shop such as
of getting hold of limited edition customers to keep moving up levels, 2020). But differences between the two departments stores. Alternatively could
apparel and footwear are some of the and rewards them therefore building generations are evident as, generation look into making the re sale market easier
benefits of having this membership up customer loyalty to the brand. z have grown up seeing exclusivity to navigate, in circumstances when they
which works on a tiering system with and limited supplies, that alone is not could be shopping for younger friends or
4 levels. (Davey, 2019) The more enough to excite them. Moreover, these family members.
you purchase, attend events, and digital natives are more accustomed to
participate in Adidas communities, the online drops, as they take on the digital
more you will be rewarded. (Sawyer, personality of connected maestros (See
2018) Figure 16) , who regularly consuming
FIGURE 16: IBM Digital Personalities
(IBM,2012)
18 FIGURE 15: The Diffusion of Innovation (Jackson et al ,2009, 19
pp. 9FIGURE 17: Nike X Off White (Houghton, 2020)
As a long term strategy, the drop model However, as consumer mindsets evolve,
CREATING VALUE FOR BRANDS.
impacts the business model as an innovative under this uncertain climate due the
way of creating value. With the drop COVID-19 crisis. The psychological needs,
model, the focus may not necessarily be to that the drop model is able to address, by
3
generate financial value, due to the limited creating a sense of belongingness in online
nature of product but rather on building communities and esteem needs, feeling the
brand equity, a subjective and intangible sense of accomplishment when successfully
assessment perceived by customers of the purchasing a limited edition product, may
brand (Zeithaml, 2001). Value and brand not be a priority for customers. Instead their
equity involve a consumers’ assessment of focus has shifted to basic needs, such as job
a brand based on what is given up for brand security, physiological needs and everyday
purchase and overall perception of the brand life. (See Figure 10) Therefore, there is an
(Helal, 2019). The drop model uses exclusive opportunity to innovate in order for brands
product, consumer centric promotional to address these needs, as the impact of the
channels such as social media and niche changes effects physical retail stores.
apps, and the anticipation created from these
channels, in order to shape perception of the
brand.
IMPACTS
The main source of value is in the experience
that the consumer has with the brand,
which shapes their perception and attitude
towards them. An experience that elicits a
positive response from a consumer is able
OF THE
to create a brand - customer relationship
that exceeds objectivity and implicates a
deeper connection, which creates a sense
of brand loyalty from the consumer. These
experiences that shape consumer perception
DROP
are more than just direct brand - consumer
interactions, that may take place in store or
on their e-commerce site. These interactions
include, experiences in online communities,
discussing the brand, on social media seeing
MODEL.
content by the brand as well from influencers
they follow and post purchase if they are
looking for resale product. Therefore, all
aspects of the drop model ecosystem work
to shape consumer experience and build a
brand loyal community.
20 21Sales cosignment store
Sales
21.2% facebook
24.7%
31%
other
what percent 20.2% GOAT
of your streetwear 19.3%
purchaes
do you resell ?
(consumer)
instagram grailed
26% 16.3%
69%
Ebay stockX
>> 25%
25% of Purchases
of Purchases < 25% of Purchases
36.5%
16.1%
< 25% of Purchases Facebook Group GOAT Grailed Stock X Ebay Instagram Other Consigment Store
FIGURE 18: Percetage of Purchases Resold - FIGURE 19: Platforms Used To Resell or Buy Second Hand
Hypebeast Streetwear Impact Survey Hypebeast Streetwear Impact Survey (Hypebeast,2019)
(Hypebeast, 2019)
The drop model impacts the wider A 2020 article about resale website
fashion industry by feeding into StockX, identifies that Gen Z have
the booming second-hand market. been a driving force behind their
Worth an estimated $24 billion success: the company says that 60%
.
worldwide (Statista, 2019) the of Gen Z males report using the
resale market means buyers who platform, with artist merchandise
the resale market
miss out on the initial drop direct being among the fastest – growing
from the brand, are still able to segment on StockX (Biondi, 2020).
purchase through other means of Although the older millennial
shopping. Research by Hypebeast cohorts have also played a vital role,
found that 31% of respondents, Walker (2018) comments the appeal
reported that they resell more than to generation z consumers comes
25% of their purchases. (See Figure from their entrepreneurial thinking
18) Loeb (2019) comments that the and their looking to prove their
most amazing development is in the activisms when it comes to shopping
sneaker resale industry, which is and selling sustainably. Alongside
predicted to reach $6 billion in the the various platforms available to
resale market by 2025. Due to the easily start selling (See Figure 19)
limited nature of products sold using this is a market that has massive
the drop model, successful drops potential for growth, pioneered by
generate high demand, sell out, and young consumers.
are resold in the second-hand market
at a higher price. For example, Yeezy However, as of yet brands have not
and Yeezy X Adidas sneakers go for played an active role in the resale of
144% of their original price, Supreme drop products. But, Sherman (2020)
and its various collabs (109%) and predicts ‘as the demand for second-
Off- White (104%) (Sawyer, 2019) hand luxury goods continues to
The outcome of this for the brand is increase, brands themselves are
more desire for the product and an likely to get further involved.’
increase in the value of the brand in Therefore there is an opportunity
the eyes of the consumer. for brands to contribute to this post
purchase aspect of the drop model.
2222 23
FIGURE 20: Virgil Abloh X Nike “The Ten” (Li, 2017)4 opportunities
createdby
re inventing retail
The drop model redefines the
role of the physical store in the
customer purchase decision process,
permitting brands to focus the instore
As the physical store becomes more
about the customer experience the
visual merchandising and layout
of the store can adapt to this. A
VISUAL MERCHANDISING.
environment on creating memorable minimalist layout and merchandising
the drop
experiences. 20% of respondents said approach may be preferred in a drop
that they shop from drop both online that involves the physical retail space,
and in store. Nearly three quarters as they typically attract extremely
of luxury goods purchases, even if large crowds of customers. Visual
they take place in physical stores are merchandising plays an important
model
influenced by what consumers do role by exploiting each individual
online (Kansara, 2016). If customers component of the store or brands’
already know what they are going to aesthetic, the visual merchandising
buy before they enter the store, which fully immerses the consumer in the
is often the case when buying product experience and culture of the brand
in a drop, brands can then focus on through visual, touch, sound and
utilising this space as a touchpoint to smell, while creating an experience
build customer loyalty, building their which if all elements are cohesive
pre-eminence over time in order to with the brand identity, is indelible
be at the top of a consumers’ mind and unique to the brand and their
whenever a purchase occasion occurs. stores (Katharine, 2018). Therefore,
re inventing retail (Remy et al, 2015) As the role of deploying visual merchandising and
the physical store changes different layout typical of a luxury store, rather
new technology elements of the in- store experience
can be adapted to reflect this.
than displaying rails of product, can
improve the customer experience,
giving a sense of luxury even if what
the resale market they are actually purchasing is not of
a higher price margin. Fashion retail
will be forced to adapt to consumer
reaching needs, post COVID- 19 and being in
a retail shop at a safe distance from
niche consumers other customers may be a priority for
customers.
24 FIGURE 21: Levi X Off White FW16 (Trotteur,2016) 25re inventing retail
Another element of the physical process. For brands who also
store that is open to change have their own apps, investing
is the customer checkout in the technology to do this
process. With the drop model, through their app also creates
customers prioritise getting incentive for customers to sign
product as quick as possible, up to them and upload their
and the payment process payment details, which could
can potentially delay this. also create opportunity for later
Therefore, creating a seamless purchases and browsing of
checkout process can enhance other products on the app.
PAYMENT METHODS.
the customer experience.
Cheng (2019) predicts this
Part of the appeal of online service will be popular,
buying for customers is that especially with millennials.
when they go to pay, they The supermarket industry
can do so with just one click have been forwards thinking
(Alibhai, No Date). Therefore when considering alternative
applying this to the physical checkout methods. Amazon
store could be the next step for Go is a good example, where
brands. New technology has customers scan a QR code on
made it possible to put retail the Amazon Go app when they
checkouts into the consumers’ walk in. Then take anything
hands. For example, German they want, walk out and it
base company, Rapitag, a tech charges you through the
provider for secure mobile app for what you’ve taken
checkout have a tag which (Kestenbaum, 2020). Being able
attached to a product like an to adapt this to the fashion
anti- theft device, when you retail experience will provide
use your own mobile device to brands a way to differentiate
scan the tag a payment window their in-store service.
opens on your mobile device
(Kestenbaum, 2020). Partnering
with a company such as this for
a drop is a good opportunity
to create a seamless checkout
26 FIGURE 22: A Look Inside Antwerp’s Sneaker District Store (Stanley,2018) 27re inventing retail
‘The
Retail-tainment is a marketing Engaging with this form of
Convergence
of Leisure,
concept introduced by experiential retail marketing,
American sociologist George allows the brand to create
Ritzer in 1999. Defined as a deeper relationship with
‘the use of sound, ambience, their customer. This can
emotion and activity to get involve using music, film, art
customers interested in the or technology to create a
Entertainment
merchandise and in the mood memorable experience. It is
to buy’ (Megax,2019) it can important that the experience
be used to enhance brand is on brand, and is relevant to
image and used as a medium the target consumer, therefore
to communicate brand understanding your market
RETAIL - TAINMENT.
values. With retailtainment, is vital in order to provide
and Retail’
the retail industry is shifting the right content in-store.
attention from features and The aim should be to create
benefits approach to a focus a destination, which brings
on immersive shopping together retail, leisure and
and customer experience. entertainment to enhance the
(Storefront, 2020) In the environment, and keep people
drop model the retail store coming. (Aecom,2018) When
plays an important role as concerning the drop model
a physical location to buy
product and connect brand
appealing to this audience
could include creating exclusive
(AECOM, 2018)
communties, it can be seen in-store content.
as an event for consumers
and an evironment to form an
attitudinal attachment between
the customer and the brand,
with this experience. Therefore
brands can form deeper
connections with consumers
by restructing their role from
a vendor to an entertainer,
educator and carer. (Scott,
2020)
2828 FIGURE 23: Gucci’s World of Psychedelia at Selfridges Corner Shop (Brian, 2020) 29FIGURE 24: Nike TechPack (Sannwald,2019)
new technology
Blockchain technology has the if the customer is unaware the
potential to revolutionise the resale product is fake and the knock off
BLOCKCHAIN TECHNOLOGY
of limited edition drop products by item falls apart or does not meet
creating a greater sense of security, their expectations, then they
a pressure point reported by 31% will blame the company - which
of respondents. Blockchain based could lead to negative word
software applications can be used of mouth and online reviews.
to validate the product authenticity (Williams, 2018) Blockchain can
by creating a digital identity for prevent this by creating a digital with the brand it is submitted to
the product. A blockchain is a data identity for the product that a decentralised digital storage
structure that makes it possible is traceable back to the brand powered by blockchain, enabling
to create a digital ledger of data on its own blockchain ledger. brands to then reward users
and share it among a network of Companies such as Hong Kong in return for their shared data
independent parties (Laurence,2017). based company, DasCoin, provide (Maxwell et al, 2018). Therefore
The concept of linking a physical the ability to register product on blockchain can not only be used to
object with a digital representation is a unique ledger to a brand, using gather data on a brands consumers
known as a digital twin (Goldgrabe, a legally recognised encrypted but can be considered when
2019). This technology has not yet code that states when, where creating ways of inspiring loyalty
been fully explored in fashion, so joint and who created a specific item among consumers (Bishop, 2018)
venture with tech companies with which can be disclosed only to using reward such as exclusive
these expertise, is an option to be authenticated partners (Walker et access, events and promotions as
considered. al, 2018). Creating a greater sense incentivise behavioural loyalty.
of security and trust between the
As the re sale market continually consumer, re-seller and brand. However, it must be noted that
expands, the threat of counterfeits blockchain technology is yet to
is now more prominent than ever. Blockchain also provides the reach a critical point of mass
When paying high prices, customers opportunity to improve the adoption. Industries such as
want to feel re- assured that product aspect of the drop. For finance and the public sector
they are buying the real product. example, the Tile, offered by are still developing their use of
Furthermore, brands also need to Loomia uses built in smart tagging blockchain. Therefore as fashion
avoid the damaging effects of the to gather and store data based is typically a late adopter in new
counterfeit market, as it can harm the on how often a person wears an technological trends, a brand who
perceived exclusivity of the drop by item of clothing or washes it and is willing to invest in the research
adding more supply of the product in the environmental conditions and development of this could be
circulation, which can have damaging during the wear (Walker et al, the innovative thinking necessary
effects on demand. As well as damage 2018). If consumers allow their to differentiate themselves from
the perception of the brand itself, as wear-ability data to be shared their competitors.
3030 31the resale market
According to ThredUp’s 2019 Annual process even more by being informative
report the secondhand market was and transparent as well as potentially being
worth $24 billion in 2018 and is able to financially benefit as they receive
predicted to grow to $51 billion a percentage of a sale made if a customer
by 2023 (ThredUp, 2019). Brands goes through the brand to the re sale site.
have the opportunity to be a part
of the growth within this market. However, this presents a limitation as
For years, sportswear and luxury this potentially could mean added cost to
companies have tended to dismiss re-selling consumers, as they may need to
the aftermarket, believing is to dilute pay a larger fee for listing their items on
their brand. (Morency,2019) However, the re sale site, if there is another company
as the market continually grows, it taking profiting from this sale. As a result,
presents an opportunity for brands this could affect the price that the product
to gain more data on their consumers being resold is listed at by the re seller, as
and strengthen brand perception it may be inflated it even further in order
in the post- purchase aspect of the to create a profit for all three parties. The
buying process, for re-sellers and re- brand, the re-sale site and individual re-
sale buyers. seller.
One way that a brand can enhance Alternatively, there is opportunity in
the post purchase experience for re- making a more seamless and effortless re-
sale buyers, is by making it easier to selling process for re-sellers. This can entail
navigate the resale of their products. creating the option for, after successfully
For drop products, the likelihood that purchasing a drop product from the band,
of a product being sold out before for it to be sent directly to the resale
being able to purchase is quite high company (e.g.StockX) for the customer,
for the average customer. 46% of rather than to their home. This can speed
respondents identified losing product up the process for it be approved for re-
to re seller as problem they encounter. sale and then sent from the reseller site
But once being unsuccessful, this is warehouse to the final resale customer.
opportune time for brands to connect This more environmentally friendly than
their failed customer with the resale the product having to be sent twice during
market. Using artificial intelligence in the process. Cutting out the re-seller in the
web data extraction, programs like delivery process, also allows them to save
Google Analytics, data from re sale their own money on postage and handling,
sites, can efficiently be extracted and which therefore could have a deflating
brands could provide onsite re-sale effect on the price they resell the product
comparisons of the product from for to the end customer.
specific trusted resale sites. Using this
data brands can provide customers The ease of re-selling their products will
with an average re-sale price as well benefit the brand also as it entices re-
as an easier transition into resell that sellers to buy from their drops and reap
does not require them to do as much the benefits of being a popular brand in
research themselves, instead this the resell market. It also gives the brand
information is presented to them, by insight into data of the percentage of
a trusted entity. Furthermore, doing customers that buy to re-sell. However, it is
this also benefits these re-sale sites important for the benefits to outweigh the
as it gives more visibility directly to costs in this venture, research by brands
their audience, and increases the to their specific market audience must be
likelihood of a purchase through undertaken to ensure that the demand
their site. In addition to this, there for this is there amongst their buyers,
are also benefits to the brand itself, and that there is enough for this to be a
as it allows them to be part of the constructive addition to the drop model.
FIGURE 25: Nike Air Max Anniversary Shoes at Stock X (Kowalsky,2018) resale process more, simplifying the
32 33REACHING NICHE
The use of the drop model This can also be applied to
also allows brands to develop virtual events. Popular amongst
CONSUMERS
marketing strategies that the young male demographic,
are aimed at specific niche with video games such as
consumer markets, allowing Fortnite, digitisation provides
brands to create increasingly a new method of reaching
meaningful and resonating this large consumer audience.
tactics to engage with that Fortnite, for example, with
consumer. This is important 350 million registered users, as
because although the drop of May 2020 (Statista, 2020)
strategy is targeted to the with almost two- thirds of
millennial and gen z consumer, players and between 18-24
within these lies more (Gough,2020) is an influential
consumer cohorts with differing platform. Creating games that
needs and wants. Being able include digital versions of 4
to identify the consumers that brands products act as both a
are engaging with the drops is marketing tool for real clothing
essential, as it permits brands and as a new means of enjoying
to research into having a their brand. (Scott et al, 2018)
deeper understanding on these Adding this to the drop model,
buyers, would persuade them could mean allowing consumers
to interact with the brand. at a Fortnite event receive
exclusive access to a new
Once having access to this drop product, which they can
information, drops have the see digitally on their virtual
ability to reach consumers character. Targeting new digital
in less traditional ways. For consumers this way has been
example, being at places proven to be effective, for
where the target consumer example in April 2020, rapper
will be, such as events. Travis Scott debuted a new
Festivals, concerts and fashion single through Fortnite as part
shows are a prime example of a series of concerts within
of occasions when tribes of the game. The virtual concert
consumers may be in one broke records, with 12.3 million
location. Using wireless mobile players participating worldwide.
technology, such as Bluetooth, (Buller,2020) Therefore, being
or airdrop for Apple users, able to tap into this market
event goers in a specific area using drops could be a great
can instantaneously be given opportunity for a brand to
exclusive access to products or see high levels of brand
drops. engagement. FIGURE 26: Adidas Orignals at Complex-con (Shea,2018)
34 35CONCLUSION
Research shows that the drop
model is and will continue to be
an effective business strategy that
engages consumers, creates a sense
of community, adds value through
frictionless transactions and merges the
physical and digital worlds in a way no
other model can do. Due to this, it is a
model that brands may want to consider,
ensuring that it aligns with their brand
identity and their consumers’ needs.
Although, the drop model has a number
of benefits for a brand, the structure
of the strategy means that it should
not be relied solely on, but rather work
alongside the traditional model.
As the fashion industry evolves and
major consumer shifts take place, brands
execution of the drop model must also
evolve to suit these needs. Changes in
retail, new technology, growth of the re-
sale market are just a few fundamental
changes that are now beginning to take
shape in fashion and have yet to reach
critical mass. Therefore, for brands
looking to maintain a competitive edge
in the market and keep their target
audience engaged considering these
advancements in the drop strategy
will be beneficial. However, in order
to introduce these new changes, it is
important for the brand to assess the
relevance of the tactic to the brands
image, target consumer.
FIGURE 27: Supreme Store Drop (Ho, 2018)
36 37ACADEMIC JOURNAL
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38 39You can also read
