business founded in 1867 by Andrew Saks became Saks Fifth Avenue, one of the world’s top luxury department stores, in 1924. Since then, the Saks brand has been associated with top quality fashion and design. It is now owned by Canadian firm Hudson Bay Company, which acquired Saks for the tune of $2.4 billion. While the decision to purchase the Saks department store and also that of competitor Lord & Taylor might have seemed “plucky” to some, the decision reflects current consumer shopping trends in that department stores can be valuable anchors for the brand (Klara, 2014). Online shopping through branded digital stores supplements but does not take the place of traditional browsing in brick-and-mortar establishments.
The world of fashion and merchandising has dramatically changed since Saks Fifth Avenue first set up shop in New York City. Emerging markets throughout the world are paying attention to the luxury sector, and Saks has done its best to make inroads around the world. Saks already has two stores open in Mexico City, as well as stores in wealthy Gulf nations like Bahrain, Saudi Arabia, and the United Arab Emirates (“Saks Fifth Avenue,” n.d.). Its purchase by Hudson’s Bay heralds a new era for the iconic department store chain. One of the ways Saks’ top leaders are working to boost the brand is by differentiating itself further from its outlet store, Off Fifth. By channeling $1 billion into the flagship Saks stores and increasing the range of elite luxury goods including “$48,000 bags and $1,500 shoes,” while ensuring the Off Fifth brands are correspondingly “devamped,” (Bryant, 2014). This means that Saks wants to establish itself as a global luxury department store offering top elite brands, positioning itself well.
The current CMO is Mark Briggs, and he and current President Marigay McKee both hailed from Harrods, the mainstay British department store. When asked about Saks’ new direction under the Hudson’s Bay umbrella, Briggs claims that the classic name and “heritage” of the Saks brand will be combined with “something different and fresh,” (cited by Klara, 2014). Displays are being renovated, lighting is being improved, and generally the presentation is going to be richer and flashier throughout Saks stores. The new Saks merchandise is set to be presented in a format like a “coffee table book” than a catalog, reflecting the direction of the store as being firmly and fully committed to the luxury sector. Saks has always been a well-curated department store, but under its new leadership, both the online and brick-and-mortar stores will be edited to reflect its new global sensibilities. One of the ways Saks is set to establish itself as a leading luxury provider is through the new personal shopping service (Klara, 2014). The personal shopping service and other service-oriented elements of Saks’ new approach allow the elite consumer to minimize time spent shopping while maximizing the value of their spending.
Even while Saks appeals more to the elite luxury sector, the CMO and other leaders in the organization are working to please the more mid-range sector by offering incentives such as a SAKSFIRST loyalty card. Customers earn points and special benefits, and those benefits increase with “more substantial purchases,” allowing Saks to distinguish between their more elite clientele and those in the mid-range sector (Loeb, 2013). Moreover, Saks is not only investing in improvements to its elite lines and in-store presentations. The company is also expanding Off Fifth stores and merchandise. Currently, there are more Off Fifth locations than there are Saks Fifth Avenue locations. This shows that Saks has developed a clear and cogent marketing strategy that allows the company to segregate its Off Fifth and budget-conscious consumers from its Saks Fifth Avenue clientele. Moreover, “Saks is growing nationally and internationally through strong Internet sales,” (Loeb, 2013). An interview with Tong Yue, digital merchandiser for Saks Fifth Avenue, illustrates the strategy for the company’s online presence.
Tong graduated with Bachelor of Science in marketing from the University of Pittsburgh and went on to receive a Master of Science in Integrated Marketing from NYU. Saks was a natural fit for her taste, style, and experience. Prior to working with Saks, Tong completed a series of internships every semester when she was attending university including an ecommerce internship at Alexander Wang, a purchasing/buying internship at Emilio Pucci, a marketing internship at Proenza Schouler, and an internship in wholesale management at Thakoon. For the past seven months, Tong has been the digital merchandise assistant at Saks.
As a digital merchandiser, Tong works with a diverse team. She works especially closely with the store’s buyers, as well as the merchandise operations specialists to ensure that the products available are accurately represented and displayed on time for seasonal shopping. Tong also works closely with Saks’ fashion studio to maintain the integrity of the online shopping aesthetic. The brands she works with regularly include top lines from classic fashion houses Dolce & Gabbana, Valentino, Fendi, and Gucci. As an entry-level digital merchandiser, Tong does not yet travel with her job but will need to in the near future.
Because Saks carries hundreds of brands across multiple categories, business for her concentrates on buying. Even the Saks Fifth Avenue house brand is purchasing oriented, as there are no in-house designers or product developers. Instead, Saks places its name on products purchased from reliable vendors. Furthermore, Tong notes that the buyers and planners work side by side to determine the amount to buy each season. Purchasing decisions depend on the percentage of each business, historical selling data, and of course, budget. Although Tong does not participate in quality control testing herself, the Saks team does work constantly to maintain the integrity of the brand. Tong does her part by ensuring all website information is fully accurate. Troubleshooting is a critical component of Tong’s work as a digital merchandiser. One of the issues Tong may have to contend with are the end-of-season markdowns on items that did not sell well, and the need to transfer merchandise from one platform or store to another.
When asked about Saks’ marketing strategies, Tong claims that both multi-channel and cohesive messages are important. Items that sell best are the ones that “convey a strong story of the brand,” Tong points out. Thus, the Dolce & Gabbana signature rose print sells better than any other print the company makes because consumers want to have the classic items. Tong also notes that marketing demographics are crucial to understand when working for the department store. Some brands sell better to a younger demographic, like Proenza Schouler, whereas Emilio Pucci attracts an older demographic. Tong learns a lot from the buyers at Saks, because of their thorough knowledge of the financial aspect of the business. Aiming to become a buyer herself, Tong believes her next step would be to complete the three months of training in the Executive Excellence Program (EEP).
Speaking only about her work at Saks.com rather than the brick-and-mortar stores, Tong points out that items are listed online up to two months before they can ship. Pre-ordering is important for the customers, and then about 4-6 months after they have been on display, the item might be marked down for the first time. Tong claims that most merchandise has sold about three months after the initial markdowns. Sales forecasting is accomplished via a deft planning team, which generates multiple reports on a regular basis and which cover each store. Tong’s work highlights the importance of joint efforts and collaboration in the world of fashion merchandising and buying, as each department works to achieve collective goals.
References
Bryant, Kenzie, 2014. “Saks’ New Strategy: Make the Saks Off 5th Outlet ‘A Mess.'” Racked. Retrieved online: http://www.racked.com/2014/1/31/7621235/saks-new-strategy-make-the-saks-off-fifth-outlet-a-mess
Klara, Robert, 2014. “Saks Fifth Avenue CMO Mark Bridges Explains Sweeping Changes.” AdWeek. 4 Sept, 2014. Retrieved online: http://www.adweek.com/news/advertising-branding/saks-fifth-avenue-cmo-mark-briggs-explains-sweeping-changes-159883
Loeb, Walter, 2013. “Good News: Saks Fifth Avenue is No Longer Elitist.” Forbes. 4 March, 2013. Retrieved online: http://www.forbes.com/sites/walterloeb/2013/03/04/saks-5th-avenue-no-longer-elitist/
“Saks Fifth Avenue,” n.d. Business of Fashion. Retrieved online: http://www.businessoffashion.com/community/companies/saks-fifth-avenue
Get Professional Assignment Help Cheaply
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Why Choose Our Academic Writing Service?
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
Online Academic Help With Different Subjects
Literature
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Finance
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
Computer science
Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!
Psychology
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
Nursing
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Sociology
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
Business
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
Statistics
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Law
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
What discipline/subjects do you deal in?
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Are your writers competent enough to handle my paper?
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
What if I don’t like the paper?
There is a very low likelihood that you won’t like the paper.
Reasons being:
- When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
- We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.
In the event that you don’t like your paper:
- The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
- We will have a different writer write the paper from scratch.
- Last resort, if the above does not work, we will refund your money.
Will the professor find out I didn’t write the paper myself?
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
What if the paper is plagiarized?
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
When will I get my paper?
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
Will anyone find out that I used your services?
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
How our Assignment Help Service Works
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
