Business

4 Reasons for H&M’s Market Success

A few years before the pandemic, H&M faced several obstacles that disrupted its bottom line and overall retail experience. It saw a decline in sales and also held $4 billion worth of unsold products. They struggled with hits-and-misses, failed to keep up with technological advancements, and fell behind their competition.

Many brands often reach situations where they fall behind and never recover. Nokia refusing to adapt to Android is one such example. It looked like H&M would meet the same fate. However, a few critical business decisions, like introducing H&M discount codes, turned things around quickly. 

In March of 2019, key markets for H&M saw an increase in in-store and online sales. These markets included India (42%), China (16%), Poland (15%), Sweden (11%) and UK (8%). H&M also publicly announced plans to unveil 175 outlets around the world by the start of 2020. While there was still a lot of work to be done, H&M’s results from the second quarter indicated that the brand was moving in the right direction. 

Steps That Helped H&M’s Turnaround:

Two key steps the brand took were investing in technology and partnering with online platforms for greater reach. H&M was indeed late to adopt digital solutions and e-commerce strategies, but the innovations made up for the delay. 

  1. A new mobile app and website:

H&M revamped its digital presence with a new mobile application and website. It equipped these platforms with functionalities that improved the shopping experience for customers both in the store and offline. 

These innovative features include live chat, customized shipping options, visual search, and PayPal payments. All these features are not present across all markets, but most markets have a majority of these. 

By February 2019, the fast-fashion giant reported a 22% rise in sales online. 

  1. Partnering with coupon platforms:

GorillaCoupon is a leading platform for H&M discount codes and offers. The platform offers discounts, coupons, and deals on products across categories like apparel, footwear, lingerie, travel tickets, beauty, and makeup. GorillaCoupon gives you the best deals on more than 100 leading online stores like H&M, Flipkart, Amazon, Tata Cliq, Ajio, and many more like unique Myntra coupon codes. You can choose the best deal for you and save money without too much effort.

What’s more, you can also earn money when you shop on GorillaCoupon. For every GorillaCoupon H&M discount code you use on order, Gorilla Coupon gives you real-time cashback. You can transfer this money to your bank account. This way, you not only save money on every purchase but also earn on every transaction. 

To avail of any of these discounts or deals, simply shop on the website and apply the Gorilla Coupon H&M coupon code at the time of checkout. 

  1. Mobile-friendly workforce management:

H&M is also known for its happy employees. Its workforce has the freedom to work freely from anywhere they want. For this, they needed a unified solution to stay in touch with each other. H&M solved this problem by implementing a unified communication platform that allows users to manage tasks and chat with fellow employees. Since the platform is mobile-friendly, the employees can send and receive messages from anywhere while managing daily operations.

  1. Innovative customer-facing gimmicks:

This Swedish fashion giant also puts out loud and PR-worthy initiatives that garner attention from the press and public. Some of the most notable ones have been:

  • Voice-activated store mirror: H&M installed voice-activated mirrors in their flagship store at Times Square in New York City. These mirrors had facial recognition and the capability to offer fashion advice and provide QR-enabled discounts.
  • Home stylist: In partnership with Google, H&M Home Stylist is H&M’s virtual assistant that offers fashion recommendations. It also designs mood boards to inspire customers and their outfits.

Looking at efforts from various retailers in the past, it is clear that unless a sales channel offers higher value than other transactions, it will most likely fade out pretty soon. H&M has always moved hand-in-hand with the technology and witnessed transformational growth. Added to that are the H&M discount codes that let you enjoy a luxurious shopping experience within budget. So why wait? Shop at H&M and avail discounts now!

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