Fashion Brand Mango Announces Price Cuts Can Save Young People?

Founded in 1984, MANGO has won the unanimous favor of women around the world in fashion, fashion, fashion and cosmopolitan design.

Recently, Spanish fashion brands

The recent announcement of a price cut is mainly aimed at the newly launched young series, known as the CoachellaFestival Music Festival, which is also directly used with "NewPrices", which is 15% lower than the normal price.

Mango says the price cuts are aimed at enabling young people to afford high quality and fashionable products.

according to

And the clothing retail industry advisory body NoAgency data, although the younger generation has gradually become the main consumer in China, but their consumption ability in the fashion category is declining.

Consumers born in 1986-1990 years spend less than 8% on clothing and jewellery, while those born in 1991-1995 years are 9.4%. In the meantime, consumption of food, tourism, entertainment and communications continues to rise.

In the US, statistics from data agency Statista show that the unemployment rate of the younger generation in the United States has been over 10% since the financial crisis, although it has dropped to nearly 10% recently, but it is still nearly two times the total unemployment rate.

The younger generation doesn't have much money in the pocket, and the fashion consumption ability is not good enough.

But more importantly, it may be Mango's own problem.

Compared with today's popular Zara, UNIQLO and H&M, Mango can say that product update is slow.

In its own words, "its new cycle is a bit longer".

This can not catch the money bags of young people.

Even if Mango plans to be updated every two weeks next year, it will be much slower than the Zara that can bring T fashion to its store in a week.

In addition, the price of Mango has always been higher than that of H&M.

And other brands are slightly higher, which makes it less competitive in terms of price performance.

If the price is reduced by 15%, it will be close to the price, but at the moment it is only aimed at a separate series.

So in the past two years, although it is still in a growth state, it is not too great whether it is the degree of concern or the appeal among young people.

It grew by 9% in 2013 and 2014, and 12% in 2015.

While announcing price cuts, Mango also announced plans to close stores in 450 stores in 2016, leaving only 7 stores in the United States.

Similar things are being done in China.

In 2013, Mango had 200 stores in China, but then it closed its store.

As of the third quarter of 2015, there were only more than 50 stores left.