The end-consumers today are driving the market like never before. They want a complete rundown on the product before making a purchase…
• What are they buying? • Where is the value coming from? • Why should they pay more?
A far cry from the retail scenario a decade ago… The consumer today is a global customer, he/she understands value and is aware of the options available… The elements driving his/her decisions are functionality, sustainability and traceability. Just purchasing a good brand is no longer enough!
Supporting this emerging trend, RSWM Limited has recently segmented its wide range of yarns into 10 categories, defined by functionality under the RSWM EDGE™ umbrella. Supporting these categories are 10 tags assuring performance, a unique endeavour to identify and assure ‘value’ to every player in the textile chain from yarn to retail and satisfy the many questions that shoppers are asking.
Creating a synergy of expectations…
Most of the players in the textile value chain at the fabric level like to play safe and are happy weaving or knitting fabric based on what their clients want, rather than pushing the envelope of change. Now, RSWM is giving them a compelling reason to invest in functional yarns, which not only add value but with the addition of value tags, give assurance along the chain of credibility that differentiates the product (fabric/garment) from other seemingly similar items. The flow is now from the consumer downwards, with the brands/retailers playing as the game changers. Also, the brands now realize that such specialized yarns are being produced in the country and they do not have to seek imported options.
Under the new approach, collaborations are happening with the brands, who are looking to differentiate – the functionality could be under the wide categories of moisture management, thermo-regulation, odourless, wellness, UV protection, elasticity, lustre, warmth/luxury of wool, mélange and sustainable options. The brands understand what they want to offer to their shoppers and at what price points. Adding the specialized yarn not only enhances the product but also ensures that the credibility of the ‘extra’ edge is communicated directly to the end-consumer.
So now, the new classification allows the yarn developed by the company to be marketed in a more disciplined and straight approach that promotes functionality. This new approach has paid off, as many of the Indian brands have recognized the importance of working in collaboration with the supply chain for value. Unlike most knitters and weavers, retailers look at business opportunity…, a story they can present and sell. They are open to experimentation and this has given a new dimension to the concept of RSWM EDGE™ products that creates a sense of mutual benefit, a win-win situation for all because of the value proposition.
More than a branding exercise, the company is going forward in an attempt to educate the customers and gives them the right to choose what they want to wear. On a broad base, the R&D at RSWM would remain within these 10 categories, but being a yarn manufacturer, it has the advantage of using different fibres, blends and techniques to engineer various properties into a yarn at different price points. So, while some yarns are targeted at the high-end market, others can be comfortably used in the market. Also, if some new property is discovered at a later stage, that too can be added to the profile.
The concept of RSWM EDGE™ has really evolved over the last two years and the company is happy with the feedback it has received from its clients. If the tag has good information and looks good on the product, then retailers are more than interested to carry the tag. The team at RSWM is clear that the tags can be customized according to how the retailer wants them to look, and the idea is to promote value and awareness to functionality.