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Fashion Pricing BY VANESSA LAWRENCE and KATHY TRUONG SUMAYYAH ANSARI.

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Presentation on theme: "Fashion Pricing BY VANESSA LAWRENCE and KATHY TRUONG SUMAYYAH ANSARI."— Presentation transcript:

1 Fashion Pricing BY VANESSA LAWRENCE and KATHY TRUONG SUMAYYAH ANSARI

2 High Demand in Fast Fashion keep up with trends with low prices leads to outsourcing consumerism

3 High Demand in Fast Fashion quality vs. quantity sweatshops outsourcing overseas

4 Outsourcing, Globalization, Offshoring -trade deficit -lessen domestic manufacture and trade -rise in unemployment rate -“Made in America”

5 Mindful Shopping Fewer, Better Pieces Invest in quality shopping with a conscious brands promoting their ethical manufacturing and process quality over quantity

6 A Closer Look at Target: The Data Breach that occurred during the Holiday Season Data breach that affected 70 million of Target’s customers Happened Nov. 27-Dec. 15 Known as the 2 nd Largest breach among U.S. retailers Hacker’s obtained data from debit and credit cards Received users name, debit or credit card number, expiration date and CVV

7 Ways that Target is trying to mend the situation Conducting a thorough investigation through a third party forensics team Offering Free Credit Monitoring and Identity Theft Protection Includes: daily credit monitoring, identity theft insurance, free credit report, and personal assistance Customers will have zero liability from any fraudulent charges made during the security breach

8 Target’s Fourth Quarter Sales Declined from 2% to 6% by the end of the quarter Closing 8 different locations in May due to sales West Dundee, Ill. Las Vegas North Las Vegas Duluth, Ga. Memphis, Tenn. Orange Park, Fl. Middleton, Ohio Trotwood, Ohio

9 Target’s Future Plans Investing $5 Million in a Cyber Security Coalition Will inform customers of cyber security and phishing scams Continue to do a tremendous amount of work in the community

10 Target’s Philanthropy Corporate Responsibility is committed to : Education The Environment Health and Well-Being Team Members Responsible Sourcing Safety and Preparedness Volunteerism

11 My Position Target deserves a second chance Have issued statements and given plenty of resources Created a response and resources page on their website Includes: answers to questions about the breach and credit monitoring, personal message from the CEO, and access to all official documentation regarding the breach $5 million investment in Cyber Security Coalition Continues to give back to the community through their programs and donations

12 Cons of Fast Fashion Consumers are wanting more fast fashion for cheaper prices i.e. Target Fast fashion doesn’t last long Even though fast fashion is cheap, these cheap purchases tend to add up Should buy more expensive items because they last longer and will save you money in the long run

13 Outsourcing Analysis 13

14 Why Outsourcing? Fast Fashion Profit Margins Globalization 14

15 A fashion for fast fashion 15

16 Factoring in fast fashion cost trend availability 16

17 The Ever Loved Profit Margins Outsourcing is ‘cost effective’ A Bangladeshi factory worker —> $38/month Consequences of missing deadline 17

18 Let’s Go Global Interaction with global clients Potential international customers Information sharing Farming communities get to industrialize 18

19 The Bad and the Ugly On April 24th, 2013 a factory in Bangladesh collapsed killing 1,129 and injuring more than 2,500 people. 19

20 Humanitarian Appeal Responsibility Ethics Lasting international relations 20


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