Idea is to create online platforms where customers can see the nearby brands or non-brands Apparel, new arrivals, existing stock with pic and price and all necessary details about outlet at any time and review the place/quality/stock etc on the individual brand page.
It's in an initial stage. We have project and execution steps ready with us.
-The size of the Indian apparel market is INR 15,870 crore (USD 2.9 billion); the category is also growing at an impressive CAGR of 12% and is expected to reach INR 27,900 crore (USD 5.1 billion) by 2017. - Users Age 15-40 years
Problem or Opportunity
Walk-in fashion Stores: Customers Takes too much time for shopping since Customers love to visit local bazaars but take too much time t find actual products. (Apparel, Bag, Wedding suits, shoes etc) -No information about Brand Outlets and their outlet collection with pic & price. -No user review & rating /recommendation platform. - In-house, the promotion has very less reachability Walk-in fashion Stores: vendors - The online market dominates the entire apparel retail market. Earlier retailers waited and do great business during the festival or another season. The recent number says the online market drops 30% of market within 2 days of the Diwali festival. -local bazaar/outlets don't have an online presence. -The vendor needs to create multiple websites & active on social media. On the other hand, small fashion outlets don't have a website though. - Brands or small outlets are accessible to run daily, weekly or monthly In-house promos and reach the mass audience. - opening hours/nearby outlets/category/new arrivals/fast-moving - Rating based pricing model for the outlets. - Due to no or fewer data, not sure what steps to take to improve sales.
Solution (product or service)
customers: - Provide information e.g operating hours/category/ parking facility/fashion consultant/ In-house promos/special events/collection with pic & price/review/pics/exact location/nearby outlets with the same product or price etc. so customer know where exactly to go before leaving the house. -Can use filter option as per the product, price, brand, and location. - Customers can do a comparison of the same product. Vendors: - Small fashion outlets can compete with known brands. - No need to create a different website. - They can promote their new arrivals or create an event for a particular time. - Reachability to a mass audience.
Online platforms Yelp : USA
Advantages or differentiators
-It's an online platform for all walk-in brand stores where a customer will get all the outlet information, collections, new arrivals, sort and filter options as per the needs and still have a choice to go chosen brand and try out things in person. - Save lot of time and effort for customers. - Small outlet creates their online presence and competes with others with show off their service and product. - Free for listing
Total Apparel search in google: 6350000 outlets If takes 0.5% of the market: 15875 outlets If takes INR 2000/- month for promotion: 31750000 INR approximately
Fashion Apparel outlets Shoes Outlets Jewelries. Key Activities Partnership with fashion and retail shops. Provide local shops and brands search device Collect data on fashion collection, outlet and provide relevant information to users. Sales & marketing Key Resources Technology Value propositions For Guest One stop platform for checking brands collections New arrivals/offers/details or special event or extra services. Fashion blogger recognisation. Nearby fashion brands. Rating & review.
For Host Bridging the gap between consumers and fashion outlets through efficient technology. Rating based pricing model for the outlets. Provide apparel and fashion tips, feedback from guests. Create space for local shops compete with market. Add promos and we’ll attract the customer. Customer relationship Online service build with mandatory rating mechanism. Customer service support. Special request for particular brand fashion. Customer segments Users who wish to go local brand, latest fashion, brand outlets nearby. Deals & offers on brands. Outlets who want their online presence to reach the target audience. Customer wants shop and deliver to their house. Database companies Market research companies Customer preferring home trials. (In future) Cost Structure Platform development and maintenance. Sales & marketing. Infrastructure cost. Employee salaries. Customer Acquisition cost. Cost of capital Legal and administrative cost. Regulatory cost Revenue streams Advertising The ads which are placed on their websites generate the majority of the revenue. Ticket sales: Create an event and sell tickets Consulting: with the huge database of the fashion market, users and their preferences, can also provide business consulting and data analytics service to their clients. Affiliate income Banner promotion. Page visiting revenue model. Brand Membership : Gold : centain offer and discount 365 days
Money will be spent on
For creating a website and mobile app. For marketing & promotion. for staff salaries & wages for 6 months at least.