Following today’s news (Monday 15 April) that Monsoon Accessorize is on the brink of launching a CVA, Chloe Collins, Senior Retail Analyst at GlobalData, a leading data and analytics company, offers her view:
“It is essential that Monsoon Accessorize, like many other retailers over the last few years, works to reduce its high street presence. Monsoon, which commands just a 0.5% share of the UK womenswear market, has limited brand appeal and an unclear position on the high street. Little trend influence and higher price points than many of its rivals has meant that it has struggled to drive footfall and differentiate itself. With increased competition from the likes of Sosander, Mint Velvet and Hush, Monsoon has little opportunity to regain lost market share.
“Despite its own challenges, Accessorize has more potential to regain shopper spend if ranges become more fashion forward and the brand leverages social media to increase desire among a younger demographic. With store closures inevitable, it must protect and invest in its prime locations, namely travel retail sites, where high volume footfall, a captive audience and impulse shopper motivations suit the Accessorize proposition.”