Date post: | 22-Feb-2017 |
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Business |
Upload: | roselyn-anderson |
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Trends on MainstreetRosie Anderson, Jenna Brandel, Shannon Krohn
Who We AreWe are an apparel business unlike the others, we provide an entirely new shopping experience that you will not find anywhere else
We use futuristic technology to intensify the consumers shopping experience
Who and What We Are130-205
Market Research After surveying 100 participants
58% want more apparel stores
72% said they felt there was not enough directed to them, in Menomonie
48% reported Apparel, Fast food and Gas stations are their top three expenses
Who We Will ReachFemales, aged 18-25, that express interest in apparel
Mary is a junior here at UW Stout, with an interest in fashion apparel. She is looking for everyday apparel and doesn’t have a car on campus, making traveling to stores off campus difficult. She needs new apparel and access to a nearby store that will satisfy her needs.
Compared to Our Competition Strengths
Technology making us uniqueOur locationTrendy apparel items
WeaknessesSupplier powerLimited space for depth of assortmentHigh start up cost
CompetitionThreats
Distance competition with similar merchandise
CompetitorsMaurices- Menomonie Cherry Pickers- Menomonie Mall of America- BloomingtonEau Claire Mall- Eau Claire
Analysis Opportunities For Growth
By providing a unique and new experience. The Trends on Mainstreet business reputation has a great chance to spread, by word of mouth, because of the innovative idea.
Breaking Away From the Market
Arrangement displayed virtually on the storefrontInteractive Mannequins
When a customer is interested in an itemUse the ipad on the display
Pick out their size and color
The employees are notifiedItems will then be arranged in the fitting room
● All merch will be entered into an RFID system
Our Plan"To launch the most uniquest apparel store in Menomonie Wisconsin by 2016, by providing a unique and new apparel shopping experience, utilizing technology for female student consumers who look to purchase apparel."
The Shopping ExperienceUsing technology
No items are on the storefrontNeatly and Accurately arranged
Size Color
Customers must interact with the sales associates to obtain items
BenefitsThis method will incorporate new technology that most consumers are familiar with in the 21st century
Provide a unique shopping experience Prevent theft and shoplifting Facilitate keeping track of inventory and reduce
shrinkage
Our Unique AdvantageThe Use of Technology
Unique displaysUnique experienceEasy access to obtaining the items consumers want
Become a Destination Store
Pricing Strategy
Assortment Tops $12-18Accessories $3-15 Bottoms $15-30
Target Market Perceived ValueWe are unlike any other company
Use futuristic experiences
Predicted Amount the Market is Willing to Pay
$30 for women’s blouse $50 for jeans$20 fashion Tees
Distribution in Our CompanyIn store
Employees can order onlineNo ordering website for customers
Must Experience the store itself
HoursMonday-Friday: 10am-6pmSaturday: 9am-8pmSunday: Closed
Our StoreMinimum of Two EmployeesFloor plan
Purchases Loyalty Programs
Student and Faculty discounts with valid IDGiveaways
Social media Sharing photos
Take AwaysFree large tote bag with first
$50 dollar purchase
Check InMobile App
Make an AccountTracks the customer cliental
Check in upon entrance to storeReceive bonuses
CouponsFreebiesApp Preview
RiskRisk level
Seasonality
GrowthDestination store