House of Fraser Renewing Product And Trade Strategy
House of Fraser is renewing its product and trade strategy, towards transformation. To ensure that House of Fraser is a destination for customers to shop the brands they love, it will provide the best selection of contemporary brands while becoming more agile in responding to trends and delivering exclusivity through partnerships with popular concessions.
As the business continues to respond to evolving consumer preferences, House of Fraser will make its core focus to offer the best selection of contemporary brands. It will become more agile in responding to trends and deliver exclusivity through partnerships with popular concessions. The company will invest in trend-spotting and product innovation capabilities alongside its recently launched globally responsive supply chain.
David Walker-Smith, chief product and trading officer, said: “Since joining House of Fraser, I have worked with the team to review our current product offering and what became crystal clear is our customers love brands. Customers now want more from their shopping experience and as a business, we need to make sure we are exceeding expectations. I’m really looking forward to embarking on this new chapter for the business and working with both our existing and new partners to bring an exciting proposition to stores and online”.
As part of wider cost-management efforts, House of Fraser is focusing on areas of growth within the business and wider sector. Kantar Worldpanel reports an increase of £208 million for on branded products in the last year while own label products are seeing a decrease year on year. In 2017, House of Fraser announced an initial step towards consolidating its own brands to focus on the most fashion forward products. To reflect the desires of consumers, House of Fraser will be investing in its partnerships to ensure it becomes the destination for customers who want to shop some of the most loved brands.
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