This essay Suit You has a total of 1635 words and 8 pages.
Your fashion stylist
Be bold and stand out from the crowd
Team3 (FB1003 TUT005)
Promotion & Future
C ompetitive Advantages & Unique ness
Our busi n ess is an online platform that enable youngsters to purchase clothes through the internet. Nowadays, most of the youngsters love wearing trendy clothes. However, due to mountains of workload, they seldom have time to go shopping. In view of this, we propose to create an online shopping site for young people who like fashionable clothes. Besides, in recent years, the fashion industry has been dominated by multinational company. Nonetheless, there are still many small fashion brands that warrant our concern. Due to capital limitation, these small firms cannot bear the cost of promotion. In order to let more people to have the chance to understand these small fashion brands, we decide to create an online platform for these small fashion brands to sell their products and promote their businesses. Our target customers are young people who have poor skills and confidence in dressing up.
In the 21st century, e-commerce has become a trend of doing business in fashion industries. This deeply affects those traditional boutiques. In China, numerous department stores were badly affected. For example: "Pacific", a famous department store, is one of the victims of the rise of e-commerce. In 2016, several branch stores of Pacific have been shut down. Although it has long been a dominator in the market, this cannot change its fate . Ma Yun, the chairman of Alibaba, said that they have been developing the foundation of future business model, including trading market, payment system, logistics and cloud-computing. In addition, according to the data from CNNIN, there were three hundred millions of people would like to shop online. This indicates that shopping has already shifted to the online sphere, and e-commerce is going mainstream.
For a boutique with costs of 294,000 yuan per year, it has to sell 1407 products in order to cover its costs. However, it is difficult to achieve the target when the shop is at the early stage of business. According to industrial and commercial bureau in Jiangsu Wuxi, Some boutiques cannot even sell one item per day (AIC, 2015, para1). China industry research network mentioned that more and more small boutique will be shut down in the future. In August 2015, a report published by ZhaoPin t, said that about one third of white-collar workers spent five hours working overtime per week (China news, 2015, para5). They lack of time to dress up or go shopping. Thus we can see that there are needs for online shopping.
The preparation of our servi ce will be based on two aspects: attracting small fashion brands and recruitment.
For the first part, as we aim to cooperate with local small fashion brands, we deiced to offer them a discount. Originally, we will receive 10% of their revenue as commission. In order to attract these firms, we are going to lower the commission level from 10% to 5%. This discount will only be carried out in the early stage of our business.
For the promotion, in order to draw our target customers' attention, we are going to place our advertisements in different forums and Social networking sites. As these sites are popular among netizens, in which most of them are young people, so this can surely promote our website.
Besides, we can sponsor some celebrities with our products and they will be asked to promote our website in return. Since many of teenagers worship idols, there is no doubt that making use of these idols' fame can help promoting our webpage.
In short run, the target of our website is to attract both local small fashion brands and young customers. At the early stages of our business, we have to focus on the major foundations of our business such as promotion and cooperation with the local small fashion brands in order to establish a good relationship with suppliers . By the time when a sound trading system are developed and our reputation is established, we will expand our business by entering the overseas market