Old Navy Executive Summary
Customers first
All of our work in 2009 was aimed at connecting with our customers as they faced one of the most challenging times in recent memory.
Companies like ours had to compete differently as consumers looked for value from trusted brands that spoke to their individual needs. As you can tell by the cover, this report tells our story through the eyes of our customers.
Old Navy led the way for us in sales growth. The team kept a keen focus on its target customers, whom we refer to as Jennie, Mike and the kids. Across every department, Old Navy worked hard to make sure that decisions were made with this target family clearly in mind. As a result, Old Navy was able to deliver fashion at a great value for the entire family. The strategy …show more content…
is paying off; the business delivered six months of positive comps in the back half of 2009.
As a result of our commitment to constant consumer research, Gap reinvented one of the product categories linked to our heritage: denim. This led to the brand’s successful 1969 Premium Jeans collection. Our customers responded positively because of our perfect combination of style, fit, quality and price. We’re now expanding the 1969 product line to kids and baby, and will continue to work this formula in refreshing other key product categories.
Although not every consumer was as directly affected by the economy as others, all customers demanded more in 2009. Banana Republic heard from consumers that versatility was paramount and responded by adjusting its product and marketing in the second half of the year to showcase that it can be worn seven days a week—for work, weekend or going out.
Shopping…anytime, anywhere
One consumer trend that continues to gain momentum is convenience—customers “want it now.” We continued to make investments to expand our online and outlet presence so more people can participate with our brands.
Our online division grew sales in 2009. The e-commerce platform we launched in 2008—called
Universality— remains an industry leader. We introduced Athleta as our “fifth tab” to many new customers, who can shop any Gap Inc. brand through a single check-out.
Our online channel allows us to expand our focus of connecting with our customers in new, exciting ways. Now customers can participate and share their experiences with our products by contributing their reviews on our brand websites. This type of feedback is valuable and often leads to better decisions and products. As an example, Piperlime added contemporary apparel to its product offerings in August.
Recognizing how valuable time is to our customers, we invested in the technology to add more speed to our websites. These investments were in place on “Cyber Monday,” when we handled the most online orders in a single day in our history.
Customers responded especially well to shopping at outlets last year, which have become known as destinations of value for both local residents and tourists alike.
As a result of our strong value messages throughout the year, Gap Outlet and Banana Republic
Factory Stores enjoyed tremendous success. Through increased local radio advertising, we highlighted the incredible deals at each of our value expressions of these brands.
TOP COMPETITORS • J. Crew Group, Inc. o 1983 – first catalog o Revenues 2009: $1,578,000,000 o Women’s, men's and children's apparel and accessories, including swimwear, outerwear, loungewear, wedding, bags, hair accessories, belts, jewelry, and shoes. o Madewell (2006) ( a modern-day interpretation of an American denim label founded in 1937. Targeting women ages 18 to 40. o The company operates 229 retail stores, 81 factory stores, 17 Madewell stores, and 76 locations in Japan o Only operates in USA, Canada and Japan o 12.000 employees aprox. • Levi Strauss & Co. o Founded in 1853 o Revenues 2009: $4,105.8 million (decrease of 6.7% compared to 2008) o Jeans and other casual wear for men, women and children. o Americas, Europe, and Asia
Pacific. o 11.800 employees aprox o • Nordstrom, Inc. • Target Corporation • VF Corporation • AnnTaylor Stores Corporation • Polo Ralph Lauren Corporation • American Eagle Outfitters, Inc. • Tommy Hilfiger Corporation • Urban Outfitters, Inc. • Macy's Incorporated • Phillips-Van Heusen Corporation • PPR SA
Environment: http://www.gapinc.com/content/gapinc/html/csr/environment.html
Competitors:
http://360.datamonitor.com/Product?pid=0988E498-82E3-4CC2-985F-7D9B38ACCD4E
All of our work in 2009 was aimed at connecting with our customers as they faced one of the most challenging times in recent memory.
Companies like ours had to compete differently as consumers looked for value from trusted brands that spoke to their individual needs. As you can tell by the cover, this report tells our story through the eyes of our customers.
Old Navy led the way for us in sales growth. The team kept a keen focus on its target customers, whom we refer to as Jennie, Mike and the kids. Across every department, Old Navy worked hard to make sure that decisions were made with this target family clearly in mind. As a result, Old Navy was able to deliver fashion at a great value for the entire family. The strategy …show more content…
is paying off; the business delivered six months of positive comps in the back half of 2009.
As a result of our commitment to constant consumer research, Gap reinvented one of the product categories linked to our heritage: denim. This led to the brand’s successful 1969 Premium Jeans collection. Our customers responded positively because of our perfect combination of style, fit, quality and price. We’re now expanding the 1969 product line to kids and baby, and will continue to work this formula in refreshing other key product categories.
Although not every consumer was as directly affected by the economy as others, all customers demanded more in 2009. Banana Republic heard from consumers that versatility was paramount and responded by adjusting its product and marketing in the second half of the year to showcase that it can be worn seven days a week—for work, weekend or going out.
Shopping…anytime, anywhere
One consumer trend that continues to gain momentum is convenience—customers “want it now.” We continued to make investments to expand our online and outlet presence so more people can participate with our brands.
Our online division grew sales in 2009. The e-commerce platform we launched in 2008—called
Universality— remains an industry leader. We introduced Athleta as our “fifth tab” to many new customers, who can shop any Gap Inc. brand through a single check-out.
Our online channel allows us to expand our focus of connecting with our customers in new, exciting ways. Now customers can participate and share their experiences with our products by contributing their reviews on our brand websites. This type of feedback is valuable and often leads to better decisions and products. As an example, Piperlime added contemporary apparel to its product offerings in August.
Recognizing how valuable time is to our customers, we invested in the technology to add more speed to our websites. These investments were in place on “Cyber Monday,” when we handled the most online orders in a single day in our history.
Customers responded especially well to shopping at outlets last year, which have become known as destinations of value for both local residents and tourists alike.
As a result of our strong value messages throughout the year, Gap Outlet and Banana Republic
Factory Stores enjoyed tremendous success. Through increased local radio advertising, we highlighted the incredible deals at each of our value expressions of these brands.
TOP COMPETITORS • J. Crew Group, Inc. o 1983 – first catalog o Revenues 2009: $1,578,000,000 o Women’s, men's and children's apparel and accessories, including swimwear, outerwear, loungewear, wedding, bags, hair accessories, belts, jewelry, and shoes. o Madewell (2006) ( a modern-day interpretation of an American denim label founded in 1937. Targeting women ages 18 to 40. o The company operates 229 retail stores, 81 factory stores, 17 Madewell stores, and 76 locations in Japan o Only operates in USA, Canada and Japan o 12.000 employees aprox. • Levi Strauss & Co. o Founded in 1853 o Revenues 2009: $4,105.8 million (decrease of 6.7% compared to 2008) o Jeans and other casual wear for men, women and children. o Americas, Europe, and Asia
Pacific. o 11.800 employees aprox o • Nordstrom, Inc. • Target Corporation • VF Corporation • AnnTaylor Stores Corporation • Polo Ralph Lauren Corporation • American Eagle Outfitters, Inc. • Tommy Hilfiger Corporation • Urban Outfitters, Inc. • Macy's Incorporated • Phillips-Van Heusen Corporation • PPR SA
Environment: http://www.gapinc.com/content/gapinc/html/csr/environment.html
Competitors:
http://360.datamonitor.com/Product?pid=0988E498-82E3-4CC2-985F-7D9B38ACCD4E