Fast fashion retailer H&M is opening a discount marketplace called Afound, in an effort to re-engage its consumer base amid controversy.
This new discount marketplace has been described by the brand as a "style and deal-hunting paradise" and will open a brick-and-mortar location in Sweden as well as an online store. H&M has launched other brands in the past but Afound serves as the first to feature a lower price point than what's expected of the already affordable retailer. Afound's managing director says the brand "cares about both the value of the products and the mix. And by offering personal style inspiration, quality labels, and the sense that you’re getting a really good deal, Afound will offer a new form of off-price experience."
Discount Fast Fashion Retailers
H&M is Launching a Discount Marketplace Called 'Afound'
Trend Themes
1. Discount Fast Fashion - The launch of H&M's Afound as a discount marketplace signals a trend towards fast fashion at even lower price points.
2. Off-price Retail - Afound's promise of personalized style inspiration at a lower price point signifies a trend towards off-price retail experiences.
3. Online Marketplaces - H&M's decision to launch an online store for Afound indicates a trend towards online marketplaces for discount retailers.
Industry Implications
1. Retail - The launch of Afound by H&M suggests an opportunity for retailers to explore the potential of launching affordable off-price retail brands.
2. Fashion - The trend towards even lower price points for fast fashion items, as seen with Afound, indicates an opportunity for fashion industry players to experiment with affordable yet high-quality products.
3. Ecommerce - Afound's new online marketplace suggests a potential opportunity for ecommerce retailers to engage with consumers looking for personalized style inspiration at a lower price point.