How important the environment protection is in different cultures?Īccording to Hofstede, you can guess how important environment protection is for a country judging by its degree of masculinity. In general, it’s best to lead by example rather than struggle to catch up from behind. As sustainability and ethical consumption become more crucial each day, however, consider incorporating these ideas into your business model. In some markets, customers are driven to find the best bargain, no matter what it takes. Source: It’s not all about the price anymore. No longer dedicated solely to low prices, H&M is less afraid to charge more per item, while urging shoppers to buy fewer items overall. The company’s new “circular” approach steers customers towards eco-friendly shopping habits, with a focus on clothing that’s either recyclable, more durable, or both. H&M has begun to pivot from low-cost fast fashion, rebranding itself instead as a leader in sustainability. Unable to match H&M’s prices, Zara could only watch as H&M doubled its sales over a nine-month period.ĭespite this success, it’s not always about a race to the bottom. In India, H&M clawed its way to victory by beating Zara in the pricing game. Spanish label Zara is arguably H&M’s chief competitor, and the two frequently find themselves at each other’s throats for top position. H&M making their customers buy… less?įashion retailers have been known for playing hardball from time to time. From savvy production models to forward-thinking advertising and partnerships, H&M is a dominant force at the intersection of fashion, quality and price. H&M’s steady march towards global domination has been shaped by its efficient and flexible marketing approach.
Thanks to its canny international expansion strategy, the Swedish fast-fashion brand has grown to become one of the world’s largest clothing retailers. Spend some time in many of the world’s major cities, and it won’t be along until you stumble across an H&M outlet.
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