The market for apparel has many players and is also highly competitive. It’s important for the company to correctly identify product trends and fashions. Product offering is seasonal. Correct anticipation of demand volumes and trends are critical to sales. For example, in 2Q15, the company’s breathable mesh pants sold out much faster than anticipated, as the design proved popular.
LULU also launched a new transitional line between the summer and fall seasons in 2014. It went over very well with customers, creating revenue upside in 2Q15. The company attributes the line’s success to new, beautiful, and greatly technical products.
The next article in this series covers Lululemon’s initiatives to reinvigorate its product assortment in the upcoming quarters.
View more information: https://marketrealist.com/2014/12/lululemons-target-market-product-assortment/