I decided to wrap this year with a note on 2011’s great escapes.
It came to me at last month’s Drapers Fashion Summit, where the air was abuzz with words of in-house designer collections, collaborations and multichannel drives for sales. The battle for brand differentiation and sales generation leaves little room for experimentation and self-fulfilment in these austere times, unless we are talking about the luxury sector.
Inevitably – and as it often does – it all started with Tesco. Or, as they’re known in South Korea: Home plus.
As the now-famous YouTube video tells us, Tesco found that they were second in the South Korean market, partly due to the lower number of stores they had in comparison to their main competitor. Their mission was to explore whether they could become number one in the market, without increasing store numbers – namely, via their online store.