Marketing Mix of Forever 21 and 4Ps (Updated 2023)

The Marketing mix of Forever 21 analyses the 4Ps of Forever 21, which includes the Product, Price, Place, and Promotion of Forever 21. Forever 21 is a private company of American Origins. It was founded in 1984 by its founder, Do Won Chang, a Korean immigrant. Forever 21 is a retail chain associated with the fashion and apparel industry. The company has the distinction of being ranked 5th in the United States as the largest retailer chain. It faces competition from brands like

• Zara
• HM
• Gap Inc
• Abercrombie & Fitch
• American Apparel
• URBN
• J. Crew

About Forever 21

• Type: Fashion retailer
• Industry: Retail
• Founded: 1984
• Founder: Do Won Chang and Jin Sook Chang
• Headquarters: Los Angeles, California, United States
• Area served: Worldwide
• Key people: Don Chang (Chairman) and Winnie Park (CEO)
• Number of employees: 30,000

Forever 21 Product Strategy

Forever 21 is a global company with a diverse product portfolio. It sells beauty products, body jewelry, and apparel for girls, men, and women. Its target customers include adults, kids, and even toddlers. Clothing lines include Love 21, XXI Forever, and Forever 21. Some of its products include-

Women-

• Dresses like tunics, t-shirt, party dresses, maxis, midi, minis, daywear, and shift
• Tops like crop, camis, graphic, vests, t-shirts, bodysuits, high necks, check shirts, blouses and kimonos
• Jumpers and Cardigans include sweatshirts, hoodies, jumper dresses, cropped jumpers, cardigans, and jumpers.
• The coats and Jackets section includes faux fur, bomber jackets, parkas, dusters, utility jackets, trench coats, blazers, leather looks, denim, coats, and jackets.
• Jeans like dungarees, flare, mid-rise, low-rise, skinny and bootcut
• The leggings and trousers section has leggings, joggers, wide-leg, tailored, and skinny
• Shorts include denim, tailored and soft
• Jumpsuits, playsuits and dungarees
• Skirts include suede, faux leather, denim, a-line, skater, maxi, midi, and mini
• Lingerie like loungewear, robes, slips, pyjamas, briefs and bras

Men-

• Tops like shirts, polos, vests and t-shirts
• Hoodies and sweatshirt
• Jumpers
• Cardigans
• Jackets
• Coats
• Trousers include joggers and chinos
• Jeans
• Shorts
• Accessories include socks, underwear, beanies, gloves, hats, sunglasses, ties, belts and readers
• Footwear

Jewellery –

• Brooches, pins, watches, body jewelry, rings, bracelets, earrings, and necklaces like chains and chokers

Footwear-

• Slippers, sandals, loafers, wedges, heels, and boots

The product mix of Forever 21 in 2023 is as follows(Source)

1. Apparel: Forever 21 provides many clothing options for men, women, and children. This includes dresses, tops, t-shirts, jeans, pants, skirts, jackets, sweaters, and activewear.
2. Accessories: The store offers a variety of accessories to complement outfits, such as jewelry, hats, scarves, belts, sunglasses, and handbags.
3. Footwear: Forever 21, various shoes, including sneakers, boots, sandals, heels, and flats for different occasions and styles.
4. Beauty and Cosmetics: Some Forever 21 locations carry beauty and cosmetic products, including makeup, skincare items, and fragrances.
5. Lingerie and Intimates: The store typically offers lingerie, bras, underwear, and sleepwear for women.
6. Swimwear: During the appropriate seasons, Forever 21 provides a selection of swimwear, including bikinis, one-pieces, and cover-ups.
7. Activewear: Forever 21 offers activewear collections designed for sports, fitness, and athleisure, featuring sports bras, leggings, and workout tops.
8. Plus Size and Curve Collections: Many Forever 21 stores have a plus-size section with various clothing options to cater to a diverse customer base.
9. Kids and Baby Clothing: Forever 21 may offer clothing for children and babies, including outfits, accessories, and shoes.
10. Seasonal Collections: The store regularly introduces seasonal collections to align with fashion trends and holidays, including Halloween costumes, winter coats, and holiday-themed apparel.

Forever 21 Place Strategy

Forever 21 is an American corporation that started as a store of 900 square feet in Los Angeles. Its headquarters base is in Los Angeles and, with time, has spread its network to several countries around the globe. Forever 21 has strategically established nearly six hundred retail outlets in Africa, Europe, America, the Middle East, and Asia. Some of its essential outlets are located in Brazil, the United States, Costa Rica, Japan, China, Israel, Malaysia, Bahrain, Germany, United Kingdom, France, Russia, Greece, Australia, South Korea and India. The average size of every outlet is at least thirty-eight thousand square feet.

Most manufacturing plants in China produce nearly 60% of the total products. In the Middle East, Forever 21 has a joint partnership of 50% in its stores, but in other countries, it has sole ownership. The company has vast distribution network includes vendor and supplier manufacturing services and franchise options. This distribution strategy has helped distribute its products to various outlets quickly.

Forever 21’s place strategy revolves around its marketing strategies for creating a widespread and accessible presence to reach its target audience effectively:

1. Global Store Network: Forever 21 strategically establishes retail stores worldwide in critical urban and suburban locations, ensuring physical accessibility for fashion-conscious consumers.
2. E-commerce Presence: The company operates a robust e-commerce platform, allowing customers to shop online 24/7, catering to those who prefer the convenience of digital shopping.
3. Mobile App: Forever 21 offers a user-friendly mobile app that enhances the online shopping experience, providing easy access to its product catalog and exclusive app-only promotions.
4. International Expansion: Forever 21 expands its reach through international store openings, tapping into diverse markets and adapting its product mix to suit local preferences and trends.
5. Third-Party Retailers: Forever 21 partners with third-party retailers or franchises in some regions to extend its presence and cater to local audiences effectively.

Forever 21 Pricing Strategy

Forever 21 is all about meeting the fashion demands of its customers. It caters to the needs of its global audience and esteemed customers by supplying quality products at reasonable prices. By 2013, revenues of 480 stores were 3.7 billion dollars and increased to 3.8 billion dollars by 2014.

Forever 21 is one of the coveted brands because of its pricing policies and qualitative products. The company has adopted an economic pricing policy that makes its clothing range and product pocket-friendly. As the prices are lower than other brands, customers prefer purchasing in bulk, which has led to more significant sales and revenues for the company.

Forever 21’s pricing strategy is strategically designed to align with its target market, demographic, and fashion-forward positioning:

1. Affordable Fashion: Forever 21 positions itself as a provider of trendy and affordable fashion, offering a wide range of clothing, accessories, and footwear at competitive price points. This strategy caters to cost-conscious consumers seeking the latest styles without breaking the bank.
2. Frequent Discounts and Promotions: The company frequently runs promotions, sales events, and discounts, creating a sense of excitement and urgency among shoppers. These marketing tactics boost foot traffic and encourage repeat purchases and brand loyalty.
3. Seasonal and Trend-Based Pricing: Forever 21 adjusts its pricing to align with fashion seasons and trends. By offering timely and competitively priced collections, they cater to customers looking to stay current in their style choices.
4. Value Bundles: Forever 21 may offer value bundles or package deals, encouraging customers to purchase complementary items at a discounted rate. This strategy increases the average transaction value while providing perceived value to shoppers.
5. Loyalty Programs: In some regions, Forever 21 has introduced loyalty programs that reward frequent shoppers with exclusive discounts, early access to sales, and special offers, fostering customer retention and long-term engagement.
6. Online and Mobile App Exclusives: Forever 21 uses its mobile app to offer exclusive discounts and promotions, incentivizing digital shopping and enhancing user engagement through mobile channels.

Forever 21 Promotion Strategy

Forever 21 has an international presence and has adopted several promotional policies to maintain customer loyalty. It has taken the help of social media to create brand awareness through social media platforms like Instagram, Pinterest, Twitter, Facebook, and Blogs. Print and electronic media on television, billboards, and newspapers show commercial commercials. It has an active official website to provide related information, including offers and incentives during the year.

Forever 21’s promotion and marketing strategy focuses on the following key elements:

1. Seasonal Fashion Campaigns: Forever 21 regularly launches seasonal fashion campaigns and collections, leveraging social media, influencer collaborations, and in-store displays to create buzz and anticipation among fashion-conscious consumers.
2. Email Marketing and Loyalty Programs: The company utilizes email marketing to send personalized offers, sale alerts, and exclusive promotions to its subscriber base. Loyalty programs incentivize repeat purchases and brand loyalty.
3. Engaging Social Media Presence: Forever 21 actively maintains a vibrant social media presence, sharing user-generated content, showcasing new arrivals, and running social media contests to engage its young and trend-focused audience effectively.

Some Recent Video ads and Print ads of Forever 21 are:

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