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H&M Assignment
H&M Assignment
In 1947 the story of H&M was started first Hennes store in Vasteras, Swe3den
by Erling Persson by selling women’s clothing. And later on 1960’s they started their
first store outside of Sweden in Norway. And on 1968 the name is changed to Hennes
& Mauritz and slowly stepped into men’s clothing and also children’s clothing. And
in 1970’s they listed on Stockholm stock exchange. And opened their first store
outside of London in Scandinavia. And later on they expanded business in new areas
of European regions of Germany, Netherlands, Belgium, Austria, Luxembourg,
Finland and France. And 2000’s started first store in US and Spain and also started in
Asia. New designer came up on 2004 named Karl Lagerfeld collaborated and after
him many more came for collaboration. And around2008 the brand stated as non-
profit global foundation. And by the end of 2010 store opened more 2000 stores and
also started their first venture in Japan. And in 2011 the store started their incentive
program to employees. And by the end of 2013 it’s opened 3000 stores and also
started their first venture in china.
WHO they
which are good at creativity, customer
focused and value driven. Their main
essential is fashion, fun and action.
Consumer RELATIONS
H&M always follow new age of retailing is followed by changing the
relationships between retailers and customers. Here always retailers drives the market
by driving the consumers behaviour instead of being driven by them. It always
creates thrilling shopping experience to customers with their styles and prices. It
creates an impact on customers that these H&M styles best fit their physique and
needs.
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Consumer BEHAVIOUR
After social media came into existence, the H&M consumer behaviour and
purchasing habits have changed before & after. Before the social media, the
consumers used to spend hours of time on looking of items which are displayed in
shelf. And now-a-days they’re everything getting from magazines and printed
publications. And now the help of Instagram, Pinterest and Facebook users are
actively posting their styles and trends just to influence others. Now human
psychology is to post something that they have bought from crowd and display it to
social network followers. In this, they’re promoting brand without knowingly.
Purchasing BEHAVIOUR
A recent consumer studies shows that 81% of people are influenced by social
network promotions and friends posts and 85% are influenced by celebrity
endorsements as a decision of buying it. After a survey taken by H&M group, as it
portrayed as more than 12000 customers from US and UK are purchased the items by
seeing them on friends posts and following the company’s page on social media
networks. This strongly says that social media impact on consumers buying decision.
And also fashion trends are short span of time because every time trends & styles are
changing and that’s the reason people buy low-cost items to stay on trend and to share
on social media networks. Here fashion culture is ruling by celebrities and later on by
seeing them people buying and sharing those pictures on social media to influence
others. H&M main motive is that only rich people shouldn’t wear good made clothes
anybody can wear stylish clothes at affordable prices and that’s the reason they
design stylish fashion items at nominal price ranges. However for H&M fast fashion
trends like affordable clothes who constantly change and also social media impact
helps their fashion industry evolving.
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References:
[1] https://www.ukessays.com/services/example-essays/business/analysis-and-evaluation-
of-h-and-m-market-success.php
[2] https://www.referralcandy.com/blog/hm-word-of-mouth-marketing/
[3] https://www.ukessays.com/services/example-essays/business/analysis-and-evaluation-
of-h-and-m-market-success.php
[4] https://www.ukessays.com/services/example-essays/business/analysis-and-evaluation-
of-h-and-m-market-success.php
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[5] https://www.bloomberg.com/news/articles/2019-10-27/h-m-ceo-sees-terrible-fallout-as-
consumer-shaming-spreads
[6] https://about.hm.com/content/dam/hmgroup/groupsite/documents/en/
D i g i t a l % 2 0 A n n u a l % 2 0 R e p o r t / 2 0 1 7 /
Annual%20Report%202017%20Customers%20the%20world%20around.pdf