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Friday, July 22, 2005

Mobile phones competing with fashion

The study that is linked here makes it clear that retailers must start to rethink their business model. It simply declares that "Devices such as cell phones, handheld computers and MP3 players are threatening the traditional hold of the apparel industry on the spending priorities of the country's 15- to 24-year-olds."

This is fascinating, but it was clear that it would come. As a mobile phone buyer in this age group, you only have so and so much money available. Mobile phones, that are attractive and equipped with some advanced functions are not cheap - and savvy users know what they want. Subsequently, the money that is spend on a mobile phone is taken from somewhere else - from clothes, or may be we skip the burger from McDonalds or the new CD that we can also download from the web.

Its that easy. Is it? No, it is not. Those protecting their turf don't usually see competitive forces entering their markets, breaking down barriers.

(By Asia Business Consulting)