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The business of fashion’s missions is simple: to open, in form and connect the global fashion industry. (Global part is really important since the rise of social media purchased online. Fashion is not exist fashion capital(independently) such as London, France, Milan and China. Very global and open)

Serving members in more than 125 countries. BoF combines independent, agenda setting journalism with practical business advice, online learning, career-building tools and immersive events and experiences, powering positive change in fashion and the wider world.

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Newsletter is the daily digest newsletter which goes 6 times a week. Second most popular is BoF career newsletter (once a week)

= I think it can be a good source of analysis for the target customer and what they prefer.

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The Business of Fashion is the only global membership community for fashion, beauty and luxury professionals.

Founded in 2007 by lmarn Amed, The Business of Fashion began as a project of passion to fill the void for an informed, analytical and independent point of view on the fashion industry. Over time, this unique approach has confirmed BoF as the leading source of intelligent and analysis for the industry.

Today, our team numbers more than 88 people with hubs in London, New York, Paris and Shanghai, developing world-class products, services and experiences including BoF Professional , BoF Careers, VOICES (our annual gathering for big thinkers), BoF China (mapping the future of fashion in China), BoF Education (Fashion’s online platform for learning) and the BoF 500 (the people shaping the global fashion community).

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Key Insight

The European fashion industry registered the equivalent of six years’ growth in the online shopping penetration, rising from 16 per cent of total sales in January  to 29 per cent in August

Sales volumes in China could return to pre-crisis level as soon as the fourth quarter of this year.

Global fashion sales are unlikely to return to 2019 levels before the third quarter of 2022. Any delay to a widely available vaccine could push this back to the fourth quarter of 2023

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Huge hunger Sustainability things. This pandemic just highlighted that term is sustainability no loner just talk about physical environment it’s more than that. What is brand’s diversity ethics and inclusion ethics. Where is the stand hiring policy people want to demand more sustainability that term is huge. It

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For an assessed group-work assessment, my group members and I decided to divide the different sections between us so that each one can do it well. We can’t meet each other now so we decided to put each other's work in google slides. Moreover, although it is not my part, I decided to add it if there is good research.

First of all, I take the part creating all parts of the mockup and presentation design. A mockup was made based on the research of other members and the site design of competing brands. In selecting the brands, we selected the brand through a Zoom meeting with the group members. We recommended at least one brand for each team member and talked about why they were selected. The final conclusion and recommendations were also after collecting the opinions of the members.

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It was difficult to meet each other because we were in different places. Many of my parts were completed based on research and also we needed to discuss it together, but it was a little bit hard to wait for the other members to do the research. But Lu especially, finished her part very fast and shared her analysis so I finished my part sooner than expected.

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The things that were good and worked well was the fact that each team member met at the right time and talked about the task to create the result. To evaluate my part, I made it by analyzing users by site of competing brands and thinking about which parts were good and the results came out. Because of this, I was able to conduct more advanced data research. The negative point was that when we were in the group, there was a lack of detailed explanations for each data survey.

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In my part, I analyzed the positive factors of other e-commerce sites. I checked the traffic for each site using Similarweb, including pages per visit, bounce rate and total visits per site like.

Based on the Similar web, Farfetch was the most positive e-commerce as of April 2021. Total visits was 21.88M, which was one of the most visited sites among e-commerce users. Furthermore, average visit duration, page per visit was also higher than other sites. The focus group also mentioned that Farfetch is a favorite site for 2 out of 5 people.

Based on these results, I analyzed the differentiators and factors of popularity of Farfetch. Compared to other sites, the overall elements were similar but in terms of design, the colors were harmonious compared to other sites, so there was no sense of complexity. Furthermore, the selected photos were also suitable.

Considering these points and the identity and style of BoF, the design was completed by giving a neat feeling of BoF as much as possible and paying attention to the harmony of the photos.

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I learned through this group that group assignments require a lot of dialogue because people with different styles have to come together to achieve a harmonious result. Through explanations after completing the work for each part, not only can the completeness of the work be improved, but it can also lead to the development of other members of the team.

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When I’m working with a group next time, I will make time for more conversations and consultations with our group members so that we can make our work more perfect. It also helps if we can challenge our initial decisions so that we are confident we are making informed decisions to avoid groupthink.

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Mockups, Recommendation and conclusion- Yeonhwa 

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Mockups, Recommendation and conclusion- Yeonhwa 

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Analysis of other e-commerce websites.

Which website is more popular and investigate what are the different factors compared to the other sites.

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Especially, Farfetch has the most highest total visits and average visit duration.

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Farfetch website is simple and organize more convinced. In the landing page, Farfetch really well pick the image and it can be show their value.
When compare the Matchesfashion web, it is more stand out

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Asia luxury market consumption is  high and the most luxury brands sales show the Asia market charge at least 30%.
- This chart indicates change in share of consumers who expect their spend on luxury fashion to increase in the next six compared to November. Korea and the UK have the largest figures, followed by China, Japan and France.(Vogue business, 2020)

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1. When you shop online especially when you use e-commerce website is there specific that you loved or you don’t like?

= I don’t really shop on online but like usually when I do is maybe ASOS

->What do you like ASOS? Maybe it is cheap because I usually shop in here to buy basic items for example simple t-shirts something like that. Moreover they have variety size so it is good to choose products that I want

-> What about the website design to use? It is simple and easy to use.

= I’m looking at Ssense. I really like that. I think it is also very early e-commerce site and straightforward. The photos they selected is kind look like visual ad. It not just products It is more like models and also goals. In addition these things are really important to choose shop which e-commerce that I use. In summary the combination of overall design is really important factor.

= I really like Farfetch. They have very wide range of the products. When they deliver the products always on the time and never delay. I mean I have very good customer service on Farfetch website.

2. What about like a layout?

= for example which is Farfetch it is incredibly easy to navigate because they have well made categories and pages.

= Matchesfashion is not hard to navigate but it is older than other e-commerce.

3. What could be make you buy new?

= original appeals something that not everyone wear or have.

-> Could would be interesting new brands perhaps? Could would be that really want to accept new brand and newness that’s why interested in? Is that possibility? Yes both of them.

-> Have you like last couple of weeks notice a lot more new accessories brands? In particular jewelry brand, I feel like see clear ring everywhere I just want it to know what are you thoughts about it? Then do you think this kind of newness is necessary?  I would say certain type of person who buy that. It is certain type of demographic when you doing that.

= I think there are so many new brand and grown so much. Then we have chance to meet various brands for instance come from Australia that’s hard to get if you are not in there.

4. When we go e-commerce is there are price point that you bear yourself when you spend? Is there upper limits spend use on online?

= maybe300to 1000 It is massive range.

=Mine is lower than because I prefer to buy in store.

=during COVID-19 everything was closed so I have to buy online but I don’t like it. My price limits is 2000 at this period I did more orders than a massive one.

5. Partnership. when it comes to brands that brand you work with or enjoy working with them. Can you guys let me know what you think about partnership and collaboration why would you buy them what is your incentive?

= When you think two different brands collaborate makes something unique that I’ve never seen.

= Make it more upgrade.

6. What is the additional features on websites that you like or hate for example shadow boxes, chat box and additional features?

= It like a new websites I’ve never bought from I think this is really good on address I don’t know why It help me like trust.

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China's e-commerce is growing rapidly, and the luxury market they consume is also increasing. In particular, it rose during the pandemic period and marketing by capturing them became one of the important factors (Statista, 2020)

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Our group recently studied BOF magazine, and I was responsible for analyzing the affilliate marketing part of BOF magazine.

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After we talked about finding problems, we would start to discuss immediately. However, some members of the group would play a monologue while the rest of the group just acted as the audience. Sometimes I found it difficult to participate in the learning activities.

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In our group, some members study hard and get good grades, but their cooperation ability is weak. Some members are introverted, while others are  lively. A team member with excellent performance can drive others with average performance, but it is easy to transform cooperative learning into individual learning, while other team members form the bad habit of relying on the team member with excellent performance without thinking. This kind of study cooperation is not very good.

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In my opinion, when organizing cooperative learning, it is necessary to give other team members sufficient time to think about problems before arranging cooperative learning. Team members divide their roles and clarify their responsibilities. When organizing cooperative learning groups, we should let each group member clearly define his or her role. For example, the group leader, the recorder and the speaker should all have their own roles. Everyone should have something to do, and the team members should take turns filling each role. In this way, each team member will try his or her best to complete the learning task.

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Cooperative learning is not only a teaching method, but also a learning method. As a way of learning, it requires students to work in groups or teams with a clear division of responsibility for mutual learning. This kind of cooperative learning helps to promote the understanding between students and enhance the vitality of classroom teaching. It is helpful to cultivate students' cooperative spirit and enhance their collective sense of honor. It is helpful to mobilize students' learning enthusiasm and initiative and improve their problem-solving ability. Helps the student form the healthy competition consciousness and the sound personality.

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Cooperative learning should learn from each other and complement each other. Implement common incentive to promote mutual help and learning among group members, and encourage excellent members to take the initiative to help students with learning difficulties. The group leader urges the group members to share information with each other. The sharing of resources makes the relationship between the group members closer, and at the same time, the learning effect of "taking advantage of others and making up for oneself" can be received.

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When the members of our group were confirmed, I pulled a group on WeChat for the convenience of communication work. Our group members quickly decided what to do and created Google Slides because they couldn't meet each other, making it convenient for us to see each other's work. We first solved the focus group question, and then Yeonhwa zoom meeting and I came up with the survey question.
I first completed my part: Brand Target Customer, Swot analysis, BOF's Porter's Five Forces and Competitors and then put them on Google Slides. Then we went to a zoom meeting to decide the choice of the brand, and finally, we discussed how to write a conclusion and recommendations.

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Due to the time difference, we were a little late in communicating with each other about the problems in the group work. Because we need to discuss many things together and give our opinions as soon as possible, the lack of reply from team members will have a particular impact. Moreover, there was only one meeting with all three of us, which also affected the degree of discussion in the group work.

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The good part is that we can put forward our opinions effectively in the group discussion, actively discuss and finish the work quickly. But if we do it in our small group, it's much less effective. For my part, I was the one who finished my part the fastest, so there was plenty of time to revise and solve the problem with others.

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For my part, I first delineated the range of BOF consumers, including their age, occupation, and hobby. And SWOT Analysis of BOF Fashion has mature and experienced website design and excellent brand reputation; their weakness is that they are brand new in the shopping market. For their opportunity, when the platform matures, they can also turn luxury analysts into luxury designers and build their brands. The biggest threat for BOF is that there are already many competitors in the market.
Also, I identified five forces that make up the competitive environment and which can erode profitability. Finally, I analyzed six brands as the competitors of BOF and listed the similarities and differences in detail.

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From this group work, I learned how to work better in a team. Moreover, group work is not easy, because everyone has different personalities and ways of doing things. Next time, I will be more active to help solve the problems in the group work. And if another person in the group is unwilling to communicate in the group and reply in time. In that case, I will take the initiative to talk to that person, find out where the problems are, and encourage him to participate in the discussion actively.

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To complete the group work more effectively in the future, we should allocate time in advance rather than discuss and discuss what to do after thinking about it. Once determined what we will do, we should take immediate action and define our work style in advance. And agree on a date for reviewing progress to ensure efficiency and completion.

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https://www.cyberclick.net/numericalblogen/what-is-affiliate-marketing-definition-and-benefits

https://marketbusinessnews.com/financial-glossary/affiliate-marketing/

https://neilpatel.com/what-is-affiliate-marketing/

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Target customer, Swot, Porter's 5 forces and Competitor- Lu

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Target customer, Swot, Porter's 5 forces and Competitor- Lu

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The sober mood among fashion executives surveyed in last year’s report has evolved over recent months into a strong determination to manage the industry through the COVID-19 pandemic. Calculations, based on the changes in market capitalizations over time in index on global fashion, suggest that the industry’s economic profit will fall by 93 percent in 2020 after rising 4 percent in 2019 (Exhibit 1). That translates into a significant increase in the number of companies that are “value destroyers,” which we expect will rise to 73 percent of those in the index in 2020, compared with 60 percent in 2019.

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Companies that have performed the best over recent months tended to share at least one of two key characteristics (Exhibit 2). Many have had a strong Asia–Pacific focus, reflecting the economic strength of the region and the relatively lower impact of the pandemic there, and many have offered a compelling digital proposition. E-commerce players, such as ASOS, FARFETCH UK, Revolve, and Zalando, have consistently outperformed in 2020, as locked-down customers turned to digital devices to shop. By August, such digital-first players were trading 35 percent higher, on average, than they did in December 2019.

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As the world recovers from the COVID-19 pandemic, what will be the defining themes in the business of fashion? Our discussions with industry executives suggest that the key drivers will include shifting consumer behaviors (in relation to digital channels, social-justice concerns, and a reluctance to travel), opportunistic investment, and the need to build more efficient, simple, and demand-focused operating models.