“Lifestyle” seems to be the word on everyone’s lips, especially when it comes to the retail sector. More than ever, footwear brands want to make more than just shoes; they want to evolve into true lifestyle brands. According to Jasmine Takanikos, lifestyle “can range from athletic to contemporary to designer. It really depends on the cool factor,” she says. “What makes a product ‘lifestyle’ is the marketing behind it and the image factor.”

Jasmine Takanikos

Do Your Research
Don’t jump on the bandwagon too quickly, Takanikos warns. First, “go small and be focused. Really try to find out, especially since the lifestyle market is all about living, what your customers are doing.” Once you identify your customers, you’ll be able to build your product assortment accordingly, she says. And don’t overlook media messaging. “Magazines are really helpful with ads and placement.”

Also, see what the competition is up to—and go another way. “Don’t look at another store and do what they’re doing.” The lack of creativity will only hurt your street cred and the coveted cool factor so enmeshed in lifestyle retailing.

Fila's Corner of Demi

Don’t Limit Yourself... Or Your Customers
There’s no minimum (or maximum) age requirement when it comes to the lifestyle consumer. “The amazing thing about lifestyle is that it’s very cross-generational—everyone from a teen to someone in their 50s or 60s—anyone, really.” And cool isn’t just limited to the United States. “Everything is global now; everyone is exposed to everything if they choose to be. If you relate to it, you relate to it.” That is due in large part to the reach of the Internet. “People are exposed in a way they’ve never been exposed before. It’s comfortable—the whole idea behind lifestyle is that it has some performance elements; it has sneaker heritage.”

Low Key by Christian Audigier

Be Cool
Certain brands inherently have more cool than others. When picking brands, she says, “One of the biggest benefits a company can brand with [a nod toward] appealing to cool is history and heritage. You always want to try to draw on something that has history and has a fair amount of identity behind it.” As for up-and-coming young brands just getting their start, she says, “[The brand] has to be very true and loyal to its brand statement, whatever it is. The brand has to completely understand its goals and show it in its marketing.”

When it comes to price points, Takanikos gives the following guidelines: “The sweet spot is $120—that’s your ideal price for lifestyle. Some retailers can go high into the $210 or $260 range, but you want to stay within $120 to $160.”

Puma

Stay Cool
Once you’ve figured out what’s cool for your store, it’s a matter of picking styles and brands that click with your customers and the latest trends out there. One trend that Takanikos believes is on the cutting edge is unisex styles. “The unisex styles are particularly valid in this market right now,” says Takanikos. She says the desire for androgynous styles “comes from consumers wanting it and retailers wanting it, too.” One big push toward unisex styling is the strength of menswear across the board. “Menswear is very valid and very hot right now. It translates into women’s footwear.”

Quilted glide from PF Flyers

Keep An Eye On The Street
Though Takanikos finds trends at shows, she swears by street culture. “Without watching people on the street, you won’t know what’s happening with customers. You can’t get everything from trend reports.”

Jasmine Takanikos is the founder of the Jasmine Takanikos Consulting Group, which specializes in trendspotting, marketing and product development for the fashion, footwear, sportswear and music industries. As a former footwear buyer in for Seattle-based comfort store Woolly Mammoth and fashion boutique Five Doors Up in 2000, Takanikos experimented in lifestyle retailing that combined comfort and athletics into her contemporary fashion purchases. Takanikos is also an influencer for Nike and was involved in the marketing campaign for the brand’s Air Force One style.

For the full version of this article, check out the June 2008 issue of WSAToday.

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