Old ld Captain: Market Data and Strategies David Meija-Zaccaro, Sheng Li, Bridgette Mallett, Trevor Shea Franklin University Switzerland 20 October 2016 EBC510 & EBC511
Agenda • Understanding the market using data: data driven decision making (David Meija-Zaccaro) • Project Proposal: e-Commerce, retail and campaign (Sheng Li) • Digital marketing and design (Bridgette Mallett) • Landing pages and inbound marketing (Trevor Shea)
Understanding the Market using Data: Data Driven Decision Making
High potential market, rising fast in e-Commerce • Global apparel retail sales expected to reach $2 trillion by 2018. • Current sales value of e-Commerce retailers is $294 billion. • In 2020 over 1/4 th of fashion retail will be generated online. • http://www.fashionunited.com/global-fashion-industry-statistics-international-apparel • http://retailnext.net/en/blog/brick-and-mortar-vs-online-retail/ • Credit suisse
Customers driven by emotional purchases are less price sensitive • Social and emotional values are more desirable than price and quality values for most consumers purchasing these products. • Consumers purchase mostly in terms of emotional gratification and social benefits. • Affluent consumers are less concerned with price, and suggests that there is demand on upscale tropical attire. Consumer perceived values of Hawaiian attire: the effects of socio-demographic factors Stephanie Inouye, Ting Chi and Linda Bradley Department of Apparel, Merchandising, Design and Textiles, Washington State University, Pullman, Washington, USA 10.1108/JFMM-05-2013-0067
Switzerland; best place to start our go to market strategy & benefit from Swiss e-Commerce factor Swiss market • 4.7 mill Swiss e-shoppers. • The Swiss apparel retail industry had total revenues of $7.7bn in 2015. • 52% of Swiss online sales were fashion items in 2015. • Average online expenditure in one year is 1,946 CHF • 66% of shoppers purchased from foreign sites due to 72% of these considering to be better price. Swiss export potential “ Swissness in Fashion Abroad” • Swiss image for export. • Highest Swiss export potential online IT Germany China and USA. Netcomm Suisse
Swiss Conversion Data • Conversion rate ~3%. • 41% of e- sales fulfilled within retailer’s e -site complementary to physical store. • 38% of e- sales fulfilled in company’s flagship brand or company site. • PayPal and Credit card compose 83% of preferred payment methods. • Around 40% of e-sale barriers are from either lack of trust of online payment methods or preference towards cash payment. • Consumers trust more a brand with lenient return policies that gives them flexibility. • http://www.marketresearch.com/MarketLine-v3883/Apparel-Retail-Switzerland-10329700/
Recommendations for Old Captain Co. 1. Include e-Commerce channels in your sales strategy. 2.Engage in perceptions of base customers in order to be more profitable. 3.Focus on Switzerland for a consistent brand integrity and exploit the potential of one of the most profitable online markets. 4.Switzerland quality factor needs to be leveraged in communication to increase international sales.
Project Proposal E-Commerce, Retail and Campaign
E-Commerce • Few Options: In Sourcing and Out Sourcing • Outsourcing: transfer inventory and distribution responsibilities to third parties to sell Old Captain shirts • Pay commission to the third party(yoox) • In Sourcing: managing all aspects of e-Commerce ranging from logistics to payment system
Outsourcing • Outsourcing is more efficient at the initial stage • Using well- known third parties’ resources, network, reputation and customers • Has few negative effects: • No direct contact with customers • Less profits • Solution: Establishing a well-functioned website • Catalog to display images of every shirt and description • Customer can leave reviews and learn more about Old Captain • Monitoring traffic • Link to where customers can buy
Physical stores • As far as retail selling, outsourcing is also recommended • Consignment with major departments stores like Macys, Saks, Liberty London • B2B strategy: Selling to other retail stores • Negative: Sale associates aren’t as passionate about the brand • Solution: In addition to outsourcing, open an Old Captain boutique store • Employed with passionate Old Captain members who will provide exceptional customer services
Launching Campaign • After six month, launch research campaigns in the cities around the world with potential markets • Paris, London, Hawaii, New York • Study data and information to decide to invest or not • If answer is yes, Which way is better? Own boutique or outsourcing
Digital Marketing & Design
Primary Target Segments Purchase decisions based on trends, quality, and emotion.
Brain Power Feelings, Emotion, and Connection
Group Belonging • Target consumers driven by desire to be a part of the lifestyle and story of Old Captain • Relay the lifestyle and brand beliefs through emphasis on images and social content portraying travel, adventure, music and sports
Aversion to Loss – Seize the Opportunity • Create anticipation and urgency • Limited Editions • Prints, Collaborations
Hyperbolic Discounting Purchase Incentive • Seize the opportunity • Swiss prefer cash over card • Build loyalty with ability to see, touch and try on before payment Referrals • Increase reachable market • Influence repeat customers • Word of mouth: free and genuine
From Dialogue to Design
From Dialogues to Design
From Dialogues to Design Dialogue • OCC: Buon giorno! We are Old Captain we create quality Swiss made apparel for adventurous creative people. • OCC: We are a diverse group of individuals who appreciate music, the arts, and most importantly travel. • OCC: Join our crew and travel with us!
From Dialogues to Design Dialogue • User: I like adventure, I’m creative, and I want to be a part of this group. Lets see what products they have. • OCC: Click on “Shop” and we will show you what we offer, then, if you want you can learn more about who we are.
From Dialogues to Design Dialogue • OCC: Although we offer shirts and antiques for everyone, did you know all our shirts have a unique history behind their design based on different areas of the world? • OCC: Take a peak around the map to learn more about these unique design elements or browse our items by category.
From Dialogues to Design Dialogue • User: Neat, I’m going to El Salvador soon to escape the snow and surf lets’ see what type of shirts are based on that region. • OCC: Central America is known for its vibrant colors and culture. From the bright green tree frogs, red billed toucans, to the local dress and handmade crafts sold in the markets. This region is one of nature’s most visually vibrant destinations. • OCC: Here are shirts we have designed with Central America in mind.
From Dialogues to Design Dialogue • User: Wow, I didn’t know that. This shirt has an interesting pattern let’s take a closer look.
From Dialogues to Design Dialogue • User: Haha , I didn’t even realize the pattern consisted of birds from a distance how unique. I can see how this relates to the vibrant culture of Central America.
From Dialogues to Design Dialogue • OCC: Swiss made is very important to Old Captain because not only are the shirts made near the hometown of the designer they are also made by hand and due to this their quality is unquestionable.
From Dialogues to Design Dialogue • User: I’m sold, how can I purchase this shirt? • OCC: We currently have two options you can find a boutique near you that carries this shirt, or you can order online from our dropshipping partner or an online boutique that supports our brand.
From Dialogues to Design Dialogue • OCC: Before checking out here are a few ways you can stay up to date with us and to also share your story with other members of the Old Captain family.
Landing Pages & Inbound Marketing
OLD CAPTAIN Wear The World On Your Back!! Form: OLD CAPTAIN , a Ticino based Name: company crafting high-quality, Email: luxurious DRESS SHIRTS by SWISS Phone: hands for active and adventurous people. Address: Enquiry: #WANDERTHEWORLD
TRAVEL in STYLE with EASE right from your SUITCASE !! BARFLEUR It usually starts with an IRON but not this time GENTS . Always look your best in a WRINKLE-FREE shirt crafted right in TICINO by SWISS hands. OLD CAPTAIN provides high-quality shirts for the adventurous spirit inside all of us. Buy now!! #WANDERTHEWORLD
SWITZERLAND , Beauty in the heart of EUROPE now in your SUITCASE ?! ANTALAHA La bella vita, starts with a beautiful BLOUSE . Crafted from the FINEST FABRICS by SWISS hands. OLD CAPTAIN provides SHIRTS for the adventurous spirits in a EXCLUSIVE market. Buy now!! #WANDERTHEWORLD
Inbound Marketing Search Marketing Social Media Content Marketing Public Relations Keyword Analysis Media Relations Blogging Blogging Landing Pages Social Media YouTube Channel Videos Analytics Relations Instagram Music Link Building Cultural Relations Monitoring Articles SEO Customer Relations
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