Marketing Management-1

Project on

H&M INDIA
Under the Guidance of Prof. Preeti Virdi

Submitted by:
Section C, Group-5
2210149 Akshay Adsul
2210157 Arpita Tripathy
2210176 Manan Gandhi
2210182 N Srikanth
2210195 Rohit

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 Executive Summary

The purpose of our project to gain knowledge about the brand H&M and its entry and
expansion in Indian Market. H&M has gained immense popularity among youth since its
launch in India. The brand believes in delivering sustainable fast fashion to its customers. The
primary aim of the project is to

1. Conduct a situational analysis of the brand.

2. To analyse customers perception about the brand
3. Provide recommendations that can be implemented in future

As the brand has marked its 7th anniversary this year, Indian consumers have developed a
clear perception about the brand, to understand that we surveyed frequent apparel buyers
about their brand preference and their demand from H&M. We interviewed customers about
their in-store experience and gained relevant insights. H&M also holds a solid social media
presence with Facebook followers of around 40 million and Instagram followers of around
38.4 million giving a broad online reach to about 200 million.

H&M India has seen a rapid growth in its sales post covid with annual revenue reaching
₹1402 crore in year 2020-21. The brand has also entered Home Décor in India this year with
H&M Homes which launched in US in 2009, which will be sold online and offline through
experience stores.

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 Table of Content

Introduction................................................................................................................................... 4
Market Research........................................................................................................................... 5
Situational Analysis...................................................................................................................... 6
SWOT Analysis....................................................................................................................... 6
5C Analysis.............................................................................................................................. 8
STP Analysis.................................................................................................................................. 9
Marketing Mix................................................................................................................................ 10
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Retail Mix....................................................................................................................................... 12
Competitor Analysis ...................................................................................................................... 13
Perceptual Map ........................................................................................................................ 15
BCG Matrix ............................................................................................................................. 16
Brand Evaluation and Criticism ..................................................................................................... 16
Product Recommendation ........................................................................................................ 17
Growth Action ......................................................................................................................... 18
Appendix ....................................................................................................................................... 19

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 INTRODUCTION:

With the fast-moving apparel industries in India and a booming number of players in the
market, positioning a brand image among consumers is what drives today’s fashion brands to
implement their marketing strategies in a way to sustain in the world of ever-changing
clothing trends.

India is among the world’s largest producers of textiles and garments which is expected to
grow at 10% CAGR from 2019-20 to reach 190 billion dollars by 2025-26. Top players in the
textile sector are attaining sustainability in their products by manufacturing textiles that use
natural recyclable materials. The growth of the apparel industry and the potential of the
nation has led to increased investment of foreign retailers. The extensive growth in this sector
can be attributed to the emergence of new industry players called “fast fashion retailers”
which opened doors for explosive expansion in past few years.

The Sweden-based apparel brand H&M, Hennes and Mauritz, is the world’s largest apparel
company which exists in 61 countries with over 3700 stores and employed around 1,32,000
people across the globe. H&M launched it’s first store in India on 2 October 2015 in New
Delhi. It’s aggressive expansion technique facilitated opening of 50 stores across India
against 24 stores of rival brand Zara. H&M launched its online platform h&m.com in March
2018 followed which it collaborated with Myntra.com in August 2019. This partnership
reinforced its market penetration among mid-cap online buyers which form a significant
portion of potential customers in India. The brand is popularly known for it’s hot-off-the-
runway fashion at an affordable price and its fast fashion concept has captured the youth
interests. The basic ideology of H&M is “fashion and quality at the best price for everyone in
a sustainable way”. Thus, the brand chosen for the project is H&M since it's completely new
to Indian market and has started giving tough competition to its peer competitors where it
earned 1.75 crore on its grand opening on October 2, 2015, which is almost double to its rival
Zara. By investing in new technological solutions, they aim to change the way they make, use
and dispose off clothes. They also encourage out-of-the box ideas to support climate positive
fashion. Therefore, it is an interesting field to explore as to how it continues to delight its
costumers & grow in Indian market. Also, it’s ethical working policies and personal interest
has led to working and exploring on this brand.

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 Research Methodology

In-depth Analysis of brand H&M

Research Process: Exploratory & Descriptive

Data Collection Method

Primary Secondary

Closed-End Questionnaires Newspaper and Articles

In-Personal Visit to H&M store Data from H&M & it competitor sites
N
e

Analyse the Data

Recommend better option for H&M

Figure 1: Market Research Flow-chart

Our main aim is to in-depth analysis of the H&M brand. What do people think when
they heard the name of H&M and what can H&M offer to gain more revenue with customer
satisfaction in the Indian market? For that, we collect the data from both primary and
secondary sources.

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Primary source: we do an online closed-ended questionnaire survey. In which asked about
respondent age, gender, resident city type, their amount of spending on the clothes, preferred
brand, and what they recommend H&M for their plan. Also, we do in-person visits to local
H&M stores for understanding consumer buying behaviour and H&M retail mix like visual
Merchandise and product shorting.

Secondary source: We started collecting the data from recently published articles on H&M
and the fast fashion trend in India from various newspapers and journals for gathering data on
consumer trends, current market growth, what strategy followed H&M and its competitor,
and their market share in India.

SITUATIONAL ANALYSIS

SW0T ANALYSIS
Strengths
(1) Global Brand: H&M offers its product over 56 online markets and 76 countries with
more than 6000 stores across all continents. Company presence all over the world will
help in terms of understanding customer choice, reducing the risk of old fashion
clothes, and enhancing stability.
(2) Variety of products: H&M provides a whole range of fashionable clothes for Men,
women, and kids. For attracting more consumers, It also sells cosmetics, Home décor
products, sportswear, and so on.
(3) Effective selling strategy: There is cut-throat competition in the fashion retail
business. Surviving in this type of competition relies on strong selling strategies for
higher revenue. H&M uses the fast fashion model that supplies the latest designer
clothes to consumers. In this digital age. the company has a strong brand value with a
large audience through 56 online channels
(4) Effective Supply chain: To provide the latest trends in clothes to the consumer across
all its market at a similar time company need an efficient supply chain to connect
various suppliers and consumer. H&M’s current Nextgen supply chain is more
efficient compared to its competitors.
(5) Brand value: H&M always adopted a customer-centric and sustainable approach to
business from its inception. This allows the company to build brand value in the
words.

Weakness

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 (1) More dependence on outsourcing: Instead of in-plant manufacturing, the company
outsources most of its products from various independent suppliers. It decreases the
stability of a company.
(2) Increase in Unsold inventory: In the ever-changing fashion market, it is easy for new
trend clothes to become an old fashion in small periods. So, it increases unsold
inventory which eventually led to an increased financial burden for the company.
(3) Controversy on unethical values: Company is always targeted for copying the design
of other designers and enterprises. Recently the company also target racial
advertisements for one of its products.

Opportunities

(1) Exploit e-commerce: In comparison with other retailers, H&M is lacking in providing
online clothes through a variety of online retail channels and revenue from the online
sold product. As customer build perceptions about brand and product through online
channels it will help H&M to increase sales from both online as well as offline stores.
(2) New Emerging Markets: As middle-class people increase in a lot of developing
counties; it will allow fast fashion companies like H&M to use their potential to
achieve fast phase growth.
(3) Acquisition and Association: To avoid the obstacle of entry and lower the risk for the
opening of a store in different segment and market, the company use the benefit of
mergers and acquisition by acquiring existing company in that market. H&M can
expand into an ethnic market through acquisition and association.
(4) In- House production: To improve the control of the quality and stability in
production and cost, the company has to acquire production facilities in every
continent.

Threats

(1) Constant change in trends: One of the most important problems faced by every
company in fashion retail company is ever-evolving fashion trends and it will be
more evident in this social media age. To stay ahead in the race company, have to
keep up with all new trends.
(2) Throat-cutting Competition: In the fashion retail industry, there is a constant entry of
new suppliers which eventually increases the competition and put pressure on the
existing brand to be ahead in the race.

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 (3) Fake Product: The fashion industry has one of the highest numbers of fake products
which eventually led to decreasing profit and also damaged the brand value in the
consumer’s mind.
(4) Rising manufacturing and supplying costs: Due to the increase in labour and raw
material the profits of the retailer decreased and H&M outsource most of its products
from different countries so the company has to pay tariffs which led to an increase in
the operating cost of the product.

5C FRAMEWORK: 

1. Company

The brand H&M is well-known, and it has a solid culture of process and product innovation.
They have senior management that supports new and creative ideas and encourages staff to
choose a variety of job opportunities.  
To keep up its dominance in a variety of product areas like marketing, product design,
distribution, and promotion methods, H&M devotes a large portion of its resources to
research and development. H&M owns COS which sells high-end products at high prices and
other brands like Monki, Weekday, Afound, and Arket. 
2. Customers

H&M focuses on both high-end and low-end market sectors.  The organization's choice to
introduce its product to more diverse and extensive market segments has broadened the range
of its opportunities. It's critical to recognize customer preferences considering shifting
fashion trends and to include them in marketing and advertising strategies. H&M's guiding
principle is "fashion and quality at the best price," and they constantly develop new products
to satisfy their customers' growing need for reasonably priced clothing. 
3. Competitors

The product differences are low and setting the differentiation has become increasingly
challenging. Due to the abundance of alternatives and their cheap switching costs, substitutes
pose a serious challenge. Because of its low to moderate new entry thresholds, H&M's
market share won't be significantly impacted by new competitors. The crucial marketing
choice for H&M is which strategic position to choose that is both distinctive from rivals and
pertinent to the target market. 
 
4. Collaboration  

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H&M collaborated with a variety of partners to improve the process of product development
and delivery. H&M collaborated with Sabyasachi in 2021 to design a range of clothing and
other accessories at affordable prices for those who wanted to own a piece of couture. H&M
teamed up with Smiley to design garments including t-shirts, jeans, jackets, and hoodies with
smiling face graphics on them. 
5. Context

Considering the economic framework will assist H&M in identifying economic difficulties
related to different countries' labor laws, working conditions, and changes in labor costs. 
Understanding the technical context is necessary to comprehend current technological
advancements and how they affect cost structures and corporate operations. H&M must
examine the main trends in culture, education, and demographic tendencies in order to
comprehend the social backdrop. In markets where H&M is active, population expansion and
growing low-end market segments present opportunities and the need for the corporation to
carefully assess how its business models may affect shifting demographics.    

Segmentation, Targeting, and Positioning

Segment: People who accept fast fashion.

This approach helps the company to subdivide the population into similar segments with
defined homogeneous parameters. Demographics and psychological segmentation theory are
used by H&M to better connect with their targeted customers. H&M is a reputed global brand
which means the company target various culture, religion, and different lifestyle. To
effectively connect with the audience company used different marketing strategies.

Demographic segmentation

(1) Class-based segment: H&M provides high-quality provide at an affordable price

which targets the middle class and working class.
(2) Age-based segment: As teenagers and young people are more want to wear
fashionable and trendy clothes, so H&M mostly targets the population aged between
18-35.
(3) Gender-based segment: Females are more likely to incline toward fashionable clothes
H&M is mostly targeting millennial females.

Psycological segmentation

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In Psychological segment is divided into lifestyle, activitieinterestset and opinions, social
status, personalities, values, and attitude. H&M can use millennials is influenced by cultural,
social, personal, and psychological factors, which have an impact on lifestyle and personality.
This demographic seeks out reasonably priced clothing and frequently visits multiple
retailers. They are affluent shoppers that regard going shopping as a fun social activity that
enhances their daily lives. They are quite modern, buy clothing every season, and like to wear
the latest styles. They would ideally fit in the social element of Maslow's hierarchy of needs
—belongingness/love. This group is the most vulnerable since they are more likely to make
impulsive purchases.

Targeting Segment: middle-class millennials and Gen Z, especially women.

The above-mentioned targeting segment is been potential consumers to whom the company
wish to sell its product and service. This mentioned target segment of H&M is the group that
is more inclined toward fashionable clothes and designers and sees shopping as a pleasure
activity in their life. The most effective segment for H&M is millennials and Gen Z,
especially women. omen like to use their disposal money for shopping for clothes and
accessories and they tend to buy not only for themselves but also for their husband, kids, and
loved ones.

Positioning

The aim of marketing is to position the brands, and products in the mind of consumers and to
make them superior over its competitive brands. H&M is always committed to providing its
consumers with moderately high-quality and various varieties of fashionable clothing at an
affordable price. H&M is popular for providing fast fashion clothing in simple language from
runway to store in the quickest time, to sell its product across the world. H&M is at the
introductory stage in India, being the second largest fast fashion retailer all around the world,
and has created perceptions in the mind of consumers which put H&M close to Zara, and
GAP, claiming to be a more sustainable, economical competitive edge to its firm.

4P Analysis- Marketing Mix

Product

H&M has a wide product range catering to the clothing needs of men, women and children.
The main reason for purchase of their products is quality and unique designs. The brand also
includes shoes, bags, accessories, beauty and ready to wear products which gives H&M a

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large product mix width. This improves the convenience of having all departments in one
retail store. Every department of H&M offers varied product lines to be able to include a
demographically wide audience. Adopting fast fashion technology keeps it updated with all
the recent trends.

Figure 2: Product Mix

Price

H&M focuses on its pricing strategy so as to provide customers with designs which are low
priced as well as rich in fashion and quality. H&M is able to achieve this mainly because of
its outsourcing of production in countries where the labour cost is much lower. It also targets
for cost minimization by working on the transportation costs. For making of high fashion
premium products which mainly target the European market, those were produced in Turkey
because of short product cycle, whereas basic products are manufactured in Asia because
they allow for longer transportation time and bear less risk of damage. In comparison to its
competitors in premium fashion like Zara which prices its products at $45, H&M prices
nearly half of it for $25.

Place

H&M has stores spread across the globe in 37,000 locations. Simplicity, transparency and
reliability of H&M logistics makes it successful as a brand for seamless distribution network.
Its distribution channel is direct to customers from producers. By removing the middle

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transaction, it reduces costs and ensures quick delivery. Right from opening H&M’s first
stores in metro cities like Delhi and Mumbai, its continued efforts are towards expanding to
tier-2 and tier-3 cities and succeeded in opening its 50th store in Bhubaneswar in January
2021.

Promotion

Well aware of its target audience including young men and women whose expectations are to
access fashionable clothes at reasonable prices and have plenty access to information, H&M
adopts multi-channel promotion strategy which includes advertising, internet promotion and
sales promotion. This increases the exposure of H&M. The red colour logo of H&M is eye-
catchy to grab attention of consumers. We usually find advertisements of H&M showcasing
fashionable styles of all design types. Although competitors like Zara and Gap put up their
prices online, those are usually not clear enough. On the contrary, H&M highlights its prices
on advertisements to build awareness of their low prices. In addition to the above, H&M
conducts eye-catching promotion events purposedly to invite top fashion designers to design
clothing for them. This not only keeps the products at par with market trends, but also
solidifies its brand image as more fashionable and upper-class.

Retail Mix:

Store Location:

H&M lunch its first store in Delhi which is the capital city of India and mainly due to it
having the world’s second highest population. Also, the people of Delhi are more inclined the
wear fashion and have more disposable income for spending on fast fashion clothes again &
again. In 2022 H&M have 50 stores in India which are mainly divided into two categories
First, In the mall store. H&M mainly focuses to open a store in Elite mall which is located in
a prime location in the city and where it received constant high footfall compared to other
malls in the city. Secondly, stand-alone store. H&M planned this type of store in the posh
locality where there is no mall and the elite mall is located far away from the prime area and
people spend their disposable income on buying fashionable cloth like H &M store in
Mumbai west.

Merchandise

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Men's, women's, and children's sections comprise the store's three primary divisions. The
women's section is on the ground floor and offers a wider selection of clothing, including
tops, bottoms, shoes, lingerie, and accessories. The varieties of tops will include both winter
and summer collections, in addition to it an up-cycle product category with products
produced from previously owned clothing. The floor above it is allocated to men's and
children's clothing, which includes tops for both the winter and summer seasons as well as
bottom clothing including jeans, gym wear, formal dress, etc. The children's area located on
the right side of the entrance and is vibrantly coloured. A consumer can find everything under
one roof with such an array, which encourages impulsive shopping and results in purchases
of items they had not even intended to make. The goal of such an assortment is to not leave
anyone unattended. H&M, which is known for its quick fashion, also offers a large selection
of products in the categories of basics and classics. Through this, their target audience is not
just confined to millennials but also Gen X.

Store Display

Although every store is different, it should still be simple to identify. The interiors must
create a practical and adaptable structure that welcomes customers inside and leads them
through the various sections while providing an engaging shopping experience. Parts of the
current in-store assortment are highlighted through displays, both inside and outside, which
also offer styling advice and inspiration. The creation of global display standards takes place
in a huge "test store" close to the H&M headquarters in Stockholm. Themed on an
association or emotion, displays are frequently modified, but they always keep the garments
in the forefront.

Service

Service is one of the important parts to improve the store atmosphere and gain more sales of
the product. H&M follow full-service to its customer in which there is a sales advisor who
assists each customer with their required product, helping them to find their size in available
stock and also sometimes helping the customer for choosing a more suitable product.
customer happier when they have the option to return the product after some days. H&M’s
return policy is more beneficial for the customer because it offers a 30-day return policy
without asking more about the reasons for returning. H&M also offers various gift cards and
sales to customers in both online and offline stores.

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Competitor Analysis

ZARA

Spanish brand founded in 1957, Entered Indian retail market in May 2010 partnering with
Tata group. Zara currently runs 21 stores in India in 11 cities across the country. Zara is the
closest competitor to H&M, with both constantly competing for 1st position as a premium
brand in India. Zara’s strategy of ‘Fast Fashion’ Supply chain model supplies the latest
fashion from design to delivery in just 2 weeks, much faster as compared with the industry
average of 6 months. Zara has partnered with Myntra for Online retail for its products.

GAP

GAP was founded by Donald fisher and Doris. F. Fisher in 1969 and is currently
headquartered in San Francisco. Known as a casual lifestyle brand, GAP entered India earlier
in 2014 in partnership with the Arvind Fashions and exited in September 2020, but the craze
for GAP fashion still existed in India among the young population. GAP has made his 2nd
entry in the Indian market with now collaborating with Reliance retail which will offer a mix
of its exclusive stores and its digital commerce platform AJIO for the brand.

UNIQLO

Founded in Yamaguchi-Japan in 1949, UNIQLO has established itself as an affordable fast

fashion brand. Uniqlo entered India in October 2019 with 3 stores and was committed to open
multiple stores across the country. It expanded its avenues in e-commerce by offering
strategic “transitional service” called “Shop from Home”. More significantly, it tapped into
the recent Indian market shift from fast fashion to long lasting essentials and functional wear
by launching Life wear clothing, which is constantly being innovated, focusing more on
simplicity, quality, and longevity. Additionally, its brand ‘Mitti Se’ believes in naturally
derived, non-toxic, and biodegradable products that are made using sustainable and zero-
waste manufacturing processes.

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 Figure 3: Graph of Consumer preference

FOREVER 21

Forever 21 was established in 1984 and now has more than 550 locations across 27 nations.
The company operates over 21 locations in India and offers online shopping on all of the top
e-commerce websites. In July 2016, Aditya Birla Fashion and Retail Limited acquired
exclusive online and offline rights to the India network of Forever 21. The fashion retailer is
well renowned for providing a variety of styles each week, which intrigues the young,
fashion-conscious Indians. The goal of Forever 21 is to draw in women of all ages. Its items
are specifically created to satisfy the sense of style and fashion of ladies of all ages, from
teenagers to adults. Since its 2010 entrance into India, forever 21 has drawn millennials with
its contemporary and sophisticated clothing.

Perceptual Map

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Perceptual Map provides the consumer perception regarding different brands fasts fashion
market in India. Data collected from both primary and secondary source we analyze customer
think H&M provide them with moderately high qualities of clothes at the affordable price.

Figure 4: Perceptual Map

BCG Matrix (Indian scenario)

BCG’s growth matrix helps management for understanding the present situation of the
portfolio and potential growth opportunities in terms of their market share and current
industrial growth in their respective segment. In India, the fashion industry is expected to
grow by 15% in 2022 and H&M have a market leader in the fast fashion industry.

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 Figure 5: BCG Matrix

Brand evaluation and criticism

Heavy Outsourcing

H&M is over-dependent on outsourcing for most of its products. It outsources most of its
production from Bangladesh and few European countries, in fact it is one of the largest
importers of garment products from Bangladesh. This overdependency on an external
producer, will affect the sales if any of these producers halt their production or any Covid19
like situation arises in these countries.

Fast Fashion Execution

H&M relies significantly on current trends and designs from other brands for their items
because of its fast-fashion business model. Sometimes, the delivered products are not able to
make an impact or are already launched by their competitors. H&M should focus on
innovative ideas for its products.

Controversies

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Concerns about the ethical standards of fast fashion firms are frequently voiced. These
worries stem from the belief that it is unethical to begin with to take ideas from other firms.
In addition, mass-producing these things with cheap labor violates fair work rules and is
dehumanizing. People have accused rapid fashion firms of openly stealing designs from Indie
producers without giving them proper credit, in addition to copying off high-fashion names.
Questionable and unfair working conditions exist in the factories where H&M purchases its
goods. These issues raise more doubts about the legality of fast fashion and companies like
H&M.

Unsold Inventory

Even a tiny stack of unsold clothing is viewed negatively in the world of fashion retail, where
sales are rapidly going online, and businesses work to keep stocks tightly matched to sales.
Although the business can adjust to the ferocious competition and shifting consumer
preferences that are transforming the global garment market, this is causing a lot of unsold
inventory to accumulate.

PRODUCT RECOMMENDATIONS

Traditional attire has undergone modern design changes, representing a blend of ethnic and
western fashion to appeal to young people. The religious and cultural diversity of India,
where a variety of festivals are observed and increasing employment among women are some
of the driving forces for the growing demand for women's ethnic wear. H&M should garner
this opportunity to bring more personalized and customized designer dresses which strikes an
equal chord between the traditional and fashionable choices of potential consumers. H&M
should invest more in brainstorming designs which fulfil the requirement of looking stylish
with a retro essence at reasonable prices and of premium quality, which otherwise is
considered an expensive commodity for mid-income youngsters. This is because they spend
more on additional accessories and garments in purely traditional dresses to bring modernity
in their look.

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 Figure 6: Pie-chart of data on Recommendation

ANSOFF Matrix (Indian Market)

As H&M is already been in the Indian market since 2015, So they are now habitual with the
Indian market condition and consumer behavior in India. Also, a product offered by H&M is
being offered by the other peer domestic and foreign brands. This product range and the
market already exist thereby the pan for further growth is Market penetration. Thus, the risk
that prevails in the situation is low. H&M should introduce trendy and different variety of
clothes constantly so that consumer visit again and again.

Figure 7: Ansoff Matrix

ACTION RECOMMENDATIONS FOR GROWTH IN NEXT 2 YEARS

1. Expand presence in more Strategic Business Units: Sportswear accounts for 12% of total
sales in the global garment market, but at H&M, this segment represents just 1% of total
revenue and has the lowest growth rate of 4%. Customers' growing propensity to be health-
conscious may present H&M with a chance to offer sportswear in the quick fashion sector.
H&M should put more effort into addressing the broader demands of their client base when it

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comes to footwear and apparel accessories by offering product diversification, expanding the
selection of seasonal product segments, and promoting frequent purchases.

2. Transfer manufacturing process from outsource to in-house:

With the assurance of high-quality products, H&M works with a large variety of independent
suppliers. The production offices also endeavour to provide its employees with long-term,
productive working environments. The fact that the production is being outsourced could
represent a risk to the company, though. H&M should establish its own internal production
facilities so that it can fully manage the manufacturing process, lengthen lead times, and cut
down on distribution expenses.

3. Innovate products for inclusivity of all age groups:

H&M and its rivals are only interested in offering goods and services to the youthful, trend-
conscious populace. However, a 21% increase in the percentage of people 60 and older is
anticipated. This target market may also have an impact on the business because they have
more money to spend than other clients. Therefore, H&M should launch a significant line of
products targeted towards the over-60 market by developing a new sub-brand name in order
to preserve consumers' perceptions of the brand.

4. Expand online market coverage and sales:

Although there is rapid development of the online market and its penetration in the apparel
industry is significantly high, H&M is yet to improve its online purchase experience and
expand its availability at e-commerce sites like Flipkart, Amazon, and Ajio. Right now, it has
only collaborated with Myntra.

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 REFERENCES

 https://studylib.net/doc/9941319/how-to-characterize-handm-supply-chain-
management
 https://in.fashionnetwork.com/news/H-m-india-sales-slip-11-but-retains-position-as-
country-s-number-one-fast-fashion-brand,1364710.html
 https://www2.hm.com/en_gb/home.html
 https://economictimes.indiatimes.com/industry/services/retail/hm-india-introduces-
home-furnishing-brand-hm-home-in-both-online-offline-formats/articleshow/
89301116.cms?from=mdr
 https://www.retail-insight-network.com/news/hm-sales-q1-2022/
 https://www.businesstoday.in/latest/corporate/story/hm-sales-shoot-up-as-shoppers-
return-post-pandemic-outbreak-337701-2022-06-15
 https://in.fashionnetwork.com/news/h-m-faces-up-to-growing-problem-of-unsold-
stock,963624.html
 https://bstrategyhub.com/hm-swot-analysis/
 https://iide.co/presentations/case-study-on-hm/
 https://m.economictimes.com/industry/cons-products/garments-/-textiles/come-april-
you-will-get-to-wear-a-saree-from-hm/articleshow/74329775.cms

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 APPENDIX

Figure 1: Market Research Flow-chart

Figure 2: Product Mix

Figure 3: Graph of Consumer preference

Figure 4: Perceptual Map

Figure 5: BCG Matrix

Figure 6: Pie-chart of data on Recommendation

Figure 7: Ansoff Matrix

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