Five Parts of the Fashion Buyer Lifecycle

“One of the things that makes fashion retailing different from other businesses is the frequency of the buying lifecycle,” says Nick Godfrey, partner at Customer Portfolios, a Boston-based analysis and marketing service provider. “In some businesses customers will make a purchase several times a week.In fashion the purchases are much more spread out. So the challenge is in understanding the purchase frequency.” Godfrey likens the fashion business to the travel business. Some travel customers, especially business travelers, will have a “frequent flyer pattern.” Others are much less frequent, and may only travel once or twice a year. Marketing the same way to each is counterproductive. However, there are some consistencies to help fashion retail executives manage the fashion buyer lifecycle – even a lifecycle with long periods of time between purchases. Within this framework retailers can develop the strategies and tactics required to capture the data and generate programs that foster the kinds of relationships we have referenced and the positive business results that come with it: