Plush Sandro Pireno Team - A Jennif er Tuft Shashi Srikant an Autumn Cherringt on Helen Bibilouri Plush.com will be a personal, on-line shopping destination for the professional plus size women Customers, Suppliers & Industry Experts: Yesterday: 21 Total: 61
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Plush
Sandro Pireno
Team - A
Jennifer Tuft
Shashi Srikanta
n
Autumn Cherringto
n
Helen Bibilouri
Plush.com will be a personal, on-line
shopping destination for the professional plus size
women
Customers, Suppliers & Industry Experts:
Yesterday: 21Total: 61
Plus-sized women’s clothing is a $7.5bn industry; market expected to grow 5.2% annually, reaching $9.7 billion of revenue by 2017
At the consumer level: • women between the ages of 25 and 54 represent 69.5% of
the market for plus sized women’s clothing• women between the ages of 35 and 54 representing 51% of
the industry.
Analysts estimate that customers who bought plus-size clothes in 2010 were: • 12 million women (ages 18 to 34) • 20 million women (ages 35 to 54) • 21 million women (aged 55 and older)
Who is she?She is a professional woman who is successful in life, but frustrated with finding well-fitting, good quality, clothing in her size (12+). She is over 30 years old and lives in the US.
How does she buy?She has a household income of above $85,000 and spends above $3,000 a year on clothing.
What matters most to her?Fit, quality, and flattery of the clothing is important. She wants to feel confident and put together. It is important to her that she have a successful shopping experience the first time around. She is willing to pay more, and potentially spend more time on the front end to ensure that what she purchases is exactly what she wants. Shopping is a personal experience and she know her body best.
Who influences her?She wants advice on how to look her best given her body type, but doesn’t necessarily follow fashion or celebrity trends. She will read blogs occasionally to keep up with new brands and latest developments in the plus size industry.
Plush
A day in the life…
She wakes up in the morning, works a full day, hits the gym, and then heads out to dinner with friends. It is important to her to wear an outfit, which will transition seamlessly from day to night and of course, will include a comfortable and cute pair of shoes. She knows what items in her closet she wants to wear, but is unsure of how to put together a polished, professional, and flattering ensemble. She would love to have an online shopping destination tailored to her tastes, body, and multi-faceted, high-paced lifestyle. Ultimately, she wants to know that the clothes she orders will fit and flatter her.
Plush
• Our value proposition is an online, pleasant shopping experience for hard to shop plus sizes with superior customer service.
• Our demographic is affluent, plus sized woman, aged 35-54 years.
• Our customers not be open to sharing the site or their purchases with others.
• Our customers want fashion-forward, trendier options, along with timeless classics, which are very high end.
• Our customers enjoy and appreciate the convenience of shopping online.
• Procurement of inventory will be our biggest challenge as we will need to purchase inventory outright in order to compete.
PlushDay 1
What we thought
Plush Team - ADAY - 1
What we learned
• Have three customer segments.
• May be able to leverage new customers to procure inventory.
• Customers interested in premium services like personal stylists.
• Some key partners such as distributors can be eliminated at this stage.
PlushDay 2 Day 3 Day 4
What we learned
• Customers want accurate details on clothing.
• Price isn’t a primary driver of decisions.
• Woman are willing to share purchases with personal network who share their needs.
• Customers prefer:• Contemporary
basics and quality over trendy.
• Physical stores to online, but could be converted if they found a site they trusted.
What we learned
• It is possible to “borrow” pieces from manufacturers to test sales.
• Influential tastemakers are likely to be the best earlyvangelists for Plush.
• Starting with MVP allows a significant reduction in cost structure.
• Affiliate marketing could be a source of revenue.
• Emphasis should be on proper fit, high quality brands, and contemporary basics and education.
Plush Team - ADAY - 2
Plush Team - ADAY - 3
Plush Team - ADAY - 4
Where we ended up
• Customers want a tailored experience, and are willing to pay a premium for this. Our value proposition now includes:
• An online, customized shopping experience• Superior customer service
• Acquisition will require a combination of web advertising, Google AdWords, social media, and targeted influencer marketing.
• Retention will involve providing a tailored experience, personalized interaction, loyalty programs, and superior customer service.
• We will launch our venture in three stages:1. MVP – Wardrobe capsules complemented by a concierge
service.2. Wholesale – Use increasing traffic data to entice
manufacturers.3. Flash Sales – Add a flash sale component to compliment
offerings.
PlushDay 5
Plush Team - ADAY - 5
• Early Evangelist:- Influential- Brand Appropriate- Active Driver