What Fashion and CPG Marketers Can Learn From Each Other
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The worlds of fashion and CPG are at a crossroads right now. Within the fashion retail space, retailers are closing hundreds of stores, laying off staff and reporting losses; on the luxury side, legacy brands are challenged with adapting in a fast-paced digital marketplace. Meanwhile, on the big-box CPG side, brands are struggling with a loss of talent, as the most innovative in the business flee for opportunities with more potential for breakthrough marketing. It’s clear that marketing leaders in both industries could stand to adopt a new approach to selling and marketing. What they don’t yet realize is that the answer could lie in learning from each other.
With CPG’s focus on product function, benefits and consumer feedback to drive sales, fashion could take lessons from the category, providing it with the substance and rigor needed for a strong business trajectory. At the same time, the fashion industry offers what many CPG brands are just beginning to wrap their heads around: the value of making a consumer enamored with your brand and your story.
Here are a few rules both can live by:
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