Sustainability is a growing topic in the fashion industry and more brands are playing their part to reduce carbon footprint by offering a sustainable range. However, there are brands that are still unsure if venturing into a sustainable range is a good move due to the lack of understanding of sustainability performance in the market.
Learn how to compare performance between sustainable and non-sustainable products in this article.
Step 1: Select a Brand With Sustainable Range
In the competitor benchmarking module, select a brand or retailer of your choice. For this example, we have selected H&M to have a better understanding of their sustainable range performance.
Step 2: Analyse Sell-out Performance For Sustainable and Non-sustainable Range
Now, you can compare the performance for both H&M sustainable and non-sustainable range in the Trade analysis table.
For the sustainable range, it registered a sell-out rate of 42% while non-sustainable range registered 50% sell-out. Then, click on the expand button here to understand what is driving the sell-out. For non sustainable range, 47% of its sell-out were driven by full price with an average discount of 45% while sustainable range sell-out has a higher full price contribution of 61% with marginally lower discount of 41%.
This tells us that there is a demand for sustainable range even if the price may be slightly higher compared to the non-sustainable range.
Step 3: Identify Category or Subcategory Sell-out Performance
Then, you may further analyse which category or subcategory that is driving the sustainable range sell-out under the product analysis trade performance tab. As shown here, tops is the main drive with 49% sell out.
Click into the sell-out to browse through the sustainable products that registered sell-out. This would give you an idea what sustainable products that customers are buying.
By performing such analysis, it would provide you a better understanding of customers reaction towards sustainable products and reduce any concerns you may have before deciding if you should venture into a sustainable range as well. You may also dive deeper to understand how other brands are pricing their sustainable products to ensure price competitiveness.
We hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.