- 2021 showcases an increased share in holiday party collections in brand assortments.
- Holiday collections have become more expensive in comparison with 2020, as occasion wear becomes more popular.
- Silver tones are the most popular shade in brands’ holiday collections this year, with festive burgundy and red shades not too far behind.
Getting the right holiday collection
Sequins and feathers for thefestive season.
The winter holidays are just around the corner and brands are driving up their festive assortments with holiday collections and gift guides, as last-minute shoppers are hastily finishing up their holiday purchases this week. This holiday season is also giving us a peek into what to expect in the fashion industry in 2022 - which is a shift towards an increased interest in occasion dressing. Consumers are ready to reintroduce occasion and formalwear into their wardrobes, after loungewear became the most sought-after category following the global pandemic. So, what does the perfect holiday collection look like and how can your brand get the right mix of occasion wear and loungewear this holiday season? Dive into the latest analysis created using Retviews, the automated benchmarking solution for fashion. Leading fashion retailers are using Retviews to monitor market changes and competitor strategies in real-time, to optimise their own collections.
The holiday assortment is all about sparkle
Occasion wear is expected to be one of the top categories in fashion within the next year and consumers are showing an increased propensity for dressing up and are opting for more fun, exciting and colorful looks. The holiday season is one of the perfect moments to put these items into high gear and get shoppers excited with seasonal trends such as sequins, feathers, fringe, and velvet. However, how much more prominent are these collections in mass market leaders’ assortments this season?
Retviews data indicates an increase in holiday party collections between 2020 and 2021, falling in line with the expected increase in occasion and party dressing in the upcoming year. Holiday party collections make up a 10% share of leading mass market brands’ total assortments this early winter season as opposed to the same period in 2020. With Retviews' real-time data your brand can monitor its competitors’ strategies and get ahead of the occasion wear growth in 2022.
The price of festive fashion
As mass-market brands are boosting their holiday party collections and releasing more pieces to get shoppers ready for upcoming holiday parties, taking into account the growth of occasion wear, Retviews data showcases how brands have modified their pricing and assortment strategies accordingly.
Throughout the early winter season, the number of holiday pieces has increased by nearly 20% in comparison with 2020, considering the growth in popularity of going-out clothes and occasion wear. Similarly, the average price for holiday party pieces in 2021 has showcased a 13% increase as opposed to in 2020 during the same period within leading mass market brands. Taking advantage of shoppers' desire for dressing up, and taking into account the fashion industry's recent supply chain disruptions, leading brands are hiking up holiday collection prices this season.
Holiday party collections are slightly more expensive than regular collections within leading mass market brands in terms of average most frequent prices. The high end of prices is also significantly higher in holiday party collections as the average maximum price of party collections is 86% higher than that of other collections. Want to get an in-depth look into how your competitors are pricing their collections? Retviews’ automated benchmarking solution for fashion allows you to monitor competitors’ assortment, pricing, and discount strategies in real-time.
Silver sequins in party collections
As the weather has gotten colder, the colors in apparel collections have gotten darker. However, can the same be said about holiday collections, or are brands taking advantage of the popularity of occasion wear and shoppers’ desire to have fun with their outfits again to introduce more vibrant colors into their holiday party collections? Dive into Retviews’ data to see what the most popular colors are for party wear this holiday season, in leading brands’ assortments.
Analyzing which colors are growing in popularity, by looking at by how much their share within assortments has increased throughout the early winter season indicates that among the most popular colors for this holiday season are festive shades of red and burgundy. The most prominent category being grey, includes festive silver tones with a focus on sequined items which make up a large portion of leading brands’ holiday assortments. Classic black and white have also made their way as some of the most popular colors this holiday season, indicating a traditional approach to holiday collections in terms of assortment colors.
Retviews data showcases that within holiday collections, the most prominent category with the highest increase in assortment share is blazers. With sequins, velvet and festive styles, blazers are the hit of the holiday season’s party collections followed by trousers, as dresses are falling behind.
Ring in the new year with the party clothes to match
Brands should take advantage of shoppers’ increased interest in “going out” clothes and occasion wear as they are ready to take off the cozy loungewear and dress up for each upcoming event. However, with COVID variants emerging and new restrictions being introduced in numerous countries, brands should not retire their loungewear assortments just yet. This raises the question of what does the right assortment mix look like and how can your brand balance comfortable clothing with occasion dressing in its assortment? Get this insight and optimise your own collection with the ideal market strategy in the upcoming year with Retviews, the automated benchmarking solution for fashion retailers.
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