THE NEW STR ATEGIC INITIATIVE
TABLE OF CONTENTS
Current Target Customer
The New Strategic Initiative
Technology and Implementation
Proposed Target Customer
In 2001 Inditex created its new lingerie brand, Oysho. Oysho has a short history but has grown quickly. The first stores were opened in Ireland, Iceland, Italy, Luxembourg, the Czech Republic, Puerto Rico and Jordan. Currently, Oysho has more than 605 stores in 44 different countries, 190 of them in Spain. As part of the Inditex Group, It shares the same management model and approach to fashion.
MISSION STATEMENT “As Inditex Group’s lingerie brand we are committed to extend their sustainability, quality ethics and philosophy into everything we do. With an increasing visual presence in our stores and impeccable consumer experience we offer our customers stylish and high quality products constantly renewed to keep up with the ever-changing trends.”
3 Parent Company
Carmen Sevillano Chaves
Miguel Vidal Alonso
REVENUE AND SALES
4 Net Sales 416 million Euros
There was an 18% increase in net sales from 2013 to 2014
FUTURE GROWTH PLANS Oysho continues to expand globally especially in regards to online retailing. In the first quarter of 2016 they plan expand their ecommerce platform into 16 new markets across the European Union.
Just recently Oysho expanded into gymwear and dancewear, offering anything from yoga leggings to sports bras to leg warmers. Footwear also came to play, realeasing a sneaker collection that completed the entire season.
6 SW STRENGTHS
WEAKNESSES Currently they neither have brick and mortar stores nor an e-commerce website for the US. They’re only present in 15 markets through e-commerce which limits the brand even further. This might be primarily due to the fact that Oysho and Inditex, overall, have a strong overdependece on European and Domestic markets,
Being part of the Inditex Group, opens a lot of doors for Oysho, as it shares its management model and approach towards fashion. Customers that are loyal to Inditex are likely to be interested in purchasing goods from the companies they own. Being the only lingerie brand within Inditex instantly drives Zara, Pull&Bear, Bershka and other sub-brands’ customer base to Oysho if they’re interested in this category of the market.
THREATS Initially, European and, more specifically, Spanish Economic Recession poses a big threat for INDITEX as a whole. Increased competition in macro markets like the US could potentially throw them off the map completely, since they have zero presence in the area. Victoriaâ€™s Secret, Aerie and other similar retail brands are already beating them to it. They could benefit from a North American Penetration, but the impact on the actual market could be hard to measure as competition and monopoly play such a big a role.
Brand awareness and marketing strategies could be a huge plus for Oysho and would definitely fill in some of the gaps theyâ€™re experiencing across their omni-channel platforms. Usually, Inditex does not invest on huge marketing and advertising for Zara but rather they rely on the word-of-mouth approach. For their other sub-brands, however, they could experience some backlash as these are not as popular to the target audience specifically.
MARKET ANALYSIS Spain Overview From 2016 to 2019 the Spanish market is expected to stabilize and grow at a CAGR of 2%; thus, resulting in spaniards regaining their confidence as well as their purchasing power. However, low cost fashion retailers will continue to experience growth, as the spanish consumer keeps to incline towards lower prices when making purchasing decisions. As a result of this trend, online retailing has prompted a rapid expansion within the consumption market since consumers are able to find and compare the best prices offered between retailers with just a few clicks. Other current happenings in Spain influencing the retail world are showrooming and reverse showrooming. This is when retailers provide the â€œclick and collectâ€? service that allows the consumer to purchase a product online and pick it up in the store later. By 2019, online retailing in the apparel and footwear section is expected to maintain a rapid CAGR of 12% where fast fashion retailers such as Zara, H&M and C&A are expected to dominate. On a smaller note, m-commerce is experiencing a major increase in the Spanish market.
Lingerie From 2016 to 2019 the Spanish market is expected to stabilize and grow at a CAGR of 2%. Spaniards are regaining their confidence and are expected to slowly recover purchasing power. The Spanish consumer continues to look for lower prices which has prompt the low cost fashion to expand in the country. This same consumer trend has promoted the rapid expansion of online retailing, where consumers go to find and compare the best prices. Showrooming and reverse showrooming are current happenings in Spain. Larger Inditex brands are provide the â€œclick and collectâ€? service which involves purchasing product online and picking it up in store. Through 2019, online retailing within apparel and footwear is expected to maintain a rapid CAGR of 12%. Fast fashion retailers such as Zara, H&M and C&A will dominate this platform. On a smaller note m-commerce is on the rise as well.
Sportswear In Spain growth in sportswear became concrete in 2014. The market is being driven by more people participating in sports. There has been a growth of specialized sportswear retailers. Additionally, mass market retailers are pushing the market upward be entering into to sportswear, these companies include Zara, Mango, Desigual, and Oysho. According to the Spanish Sports Council 41% of Spaniards over the age 14 are regularly doing sports. 50% of the market is made up of apparel inspired by sports, while the second half consist of performance apparel. International sportswear brands dominate the market because of their global coverage in distribution and strong sponsorship in football. Nike leads with 12% of the market share and Adidas is second with 9%. The market share for local brands like Oysho is indistinguishable. However, after introducing sportswear to their product line, Oysho experienced a 79% growth rate. From 2016 to 2019 the sportswear market is expected to have a modest CAGR of 3%
POSITIONING IN THE MARKET
Product Offerings Oysho designs affordable and trendy products without losing focus on quality. The core of their product offering relies heavily on lingerie and loungewear. As most INDITEX subsidiaries, the product range within the brand is ver competitively priced challenging similar companies to match up to them. They offer a wide range of accessories that compliment all of their product categories and when summer roles around Oysho jumps on the opportunity and focuses on swimwear and beachwear including cover-ups and sandals that rounds up the collection. Oyshoâ€™s most recently introduced sportswear, which has been performing positively on the market
$14.50 - $44.50
$14.50 - $44.50
$5.50 - $44.50
$14.50 - $44.50
h&m H&M is one of Oysho toughest competitors. They carry all of Oysho’s product offerings and more at a lower price on average. They also have vast global coverage. They sell in 23 countries online and 64 countries instore, including the US market. H&M’s competitiveness to Oysho is expected, as the H&M Group and Inditex are seen as major competitors in the fast fashion industry. Women's Secret Women’Secret is one Oysho’s most direct competitors. They have a higher price range with their bras averaging $32.02USD. However, they have a broader global coverage online, providing e-commerce to over 32 countries. The brand offers styles similar to Oysho in underwear, sleepwear, accessories, and swimwear. Like Oysho, they opened their first store in Spain. Women’Secret is considered one of Spain most popular affordable lingerie companies. Sfera Sfera is a Spanish brand that offers clothing, accessories, lingerie, and shoes for women. They also carry menswear. Sfera’s biggest competitive advantage over Oysho is their pricing. They fall below Oysho in global coverage by only provide e-commerce in Spain.
Tezenis Tezenis, like Oysho, targets a young audience. They offer a wide range of products, including lingerie, at a lower price than Oysho. However, their global coverage is weak, with online shopping in only 2 markets and store in only 15 countries.
Yamamy Yamamay offers nightwear for both men and women. They are based in Spain but have a global coverage that falls closely in line with Oysho’s. Their e-commerce site is global allowing for exploration even in countries where it is not available.
Perceptual Map Oysho is competitively priced among its competitors but it falls behind in global coverage.
Lower Global Coverage
Higher Global Coverage
CURRENT PLACEMENT Oysho sells through e-commerce, franchised and company managed stores. Currently Oysho has a total of 605 stores, enclosing over 40 countries worldwide. They have a presence in over 16 countries through e-commerce with plans to expand into the European Union. In regards to brick-nmortar, 14% of sales are franchised while 86% of sales are from company managed stores. This is a pattern that is followed throughout all of Inditexâ€™s subsidiaries
605 stores in over 40 countries
e-commerce in 16 countries
86% of sakes come from stores
14% of sales are franchised
CURRENT PROMOTIONAL ACTIVITIES As part of the Inditex business model, Oysho does not spend money on print advertising campaigns. However, they do rely on unique promotional activities to boost consumer engagement and build brand awareness. Some of these strategies include hosting events, contests, and coming up with exciting promotions for their loyal customer base. In addition, Oysho excels in communicating with the millennial customer through social media by incorporating consumer involvement techniques for each of their platforms, thus strengthening their customer interaction.
Oysho Jazz You The first international jazz festival dedicated to female voices. Oysho gave away 10 pairs of tickets and a trip for two to attend the event. In order to enter the contest the participant had to:
Follow @Oysho on Instagram
Post a photo of this unforgettable memory with the hashtag #OyshoJazz
Mention who you would like to attend the concert with
Women’s Race Barcelona
The 11th Women’s Race was held in Barcelona on Sunday 8 November, with over 27,000 women joining the pink wave that flooded the city’s streets for a good cause. Oysho, the event’s main sponsor, exclusively designed the official T-shirt worn by all participants. Oysho also organised different activities at their stand, where hundreds of women could participate in after the race and win an Oysho gymwear look.
Oysho Valentine Oysho organized a promotion where the prize consisted of a Promo Code in the amount of ONE HUNDRED EUROS that could then be used as a method of payment through their website. In order to take part in the competition the participants had to mention their Instagram profile on an image they felt identified with and then use
Current CR M Activities
Inditex operates on a zero advertising policy which means that it has to keep attracting customers in different and non-traditional ways in order to keep making profits and stay relevant in face of tough competition from similar companies such as H&M and Benetton. Inditex, throughout the years, has developed effective relationships with its customers, and thanks to the benefits of CRM, its customers are loyal and make continued visits throughout the year, with the average customer visiting brick and mortar stores at least 17 times yearly compared to other storesâ€™ average of four. More specifically Oysho holds the following targetting strategies to deal customer management.
1 2 3
Subscribe to Oysho Newsletter via email
Oysho offers customer service through every social media platform or channel of distribution. You are welcone to post your feedback on their social media platforms or send them a personal message and get a response within hours. You can also contact Customer Service directly by shooting and email to firstname.lastname@example.org
Oysho is characterized for constantly posting raffles, contests and giveaways accross their social media pages, especially Instagram where they tally up the greatest amount of followers. Customers are also able to view current sales and deals
CURRENT TARGET CUSTOMER
Demographics Overall Oysho targets and ethically mixed women between the ages of 20 and 35, living in western Europe, more especifically millenials in Spain and Portugal. Ideally a customer at Oysho would be in their last year of higher education or launching a career upon college graduation. In terms of household income, we are looking at a yearly amount of $60,000. This market segmentation is known as the â€œYoung Digeratiâ€? and usually their median income allocates enough budget to live in fashionable neighborhoods on the urban fringe of big cities (such as la Barceloneta in Barcelona) Young Digerati communities are typically filled with trendy apartments and condos, fitness clubs and clothing boutiques, casual restaurants and all types of bars -from juice to coffee to microbrew.
Pshychographics Leads a very active and busy lifestyle and is interested in fitness activities such as yoga, dance and meditating. Is an avid traveler, blogger, and overall â€œit-girlâ€?. Enjoys researching trends in fashion, music, technology, and cultural behavior Very into apps such as Whatsapp, Instagram, SoundCloud, Snapchat. Enjoys attending events such as music festivals, art galleries, fashion shows. Personality wise, she is very independent, confident and out-going and considers herself a trendsetter and fashion influencer among peers and colleagues. Career driven and focused, knows exactly what she wants. She is very brand conscious but also brand loyal, and the price of what she purchases has to match the quality
1 CONSUMER TRENDS SPAIN Economic Recovery Due to the uncertainty of economic crisis, consumer spending had stopped in Spain, but currently, Spain is experiencing economic growth which is increasing spending. Consumers have the perception that the country is more stable and feel less insecure about spending more
Living la vida â€œLow Costâ€?
Despite a perceived economic growth, many consumers are looking to reduce spending because they are still insecure and uncertain about the future state of Spainâ€™s economy. This has increased the demand for used clothing and also made price comparison amongst various websites more popular within the millenials consumer groups.
Mobile Shopping The economic crisis and uncertainty has forced people to not only save money but look for alternatives. Spanish consumers perceive smartphones as an investment that will help them save money in the future. Mobile apps and services that allow for saving are extremely popular, a few examples include Whatsapp, Airbnb, and car sharing apps. Millennials consider their smartphone to be their most prized possession, as the unemployment rate in Spain is above 50%. They mostly use their phones to arrange their social life.
Sustainability Sustainability in Spain is driven by the consumerâ€™s struggle to reduce spending during an economic crisis. Since there is still an uneasiness about the current state of the economy, environmentalism plays a huge part in consumer behavior. Younger consumers also encourage older generations to consumer more responsibly by shopping in vintage/2nd hand clothing stores, growing their own produce, and sharing rides to save gas.
25 years old Lives in Barcelona, Spain BFA in Sound Design Music Producer Makes $50,000 a year Lifestyle: yoga, travel, tech-savvy, attends music festivals Media consumed: WhatsApp, Instagram, Sound Cloud & Snapchat Shops online to easily compare prices and invests in new technology Opinions and beliefs based on a liberal mind set, independent, meditator, cultured
OMNI-CHANNEL AUDIT Overview In the European market, Oysho has maintained a fairly consistent approach to multi channel retailing, however, it is not a seamless omni channel experience. The biggest gap in Oysho’s omni channel approach is that they are not globally accessible and do not have any presence in the North American market. Although they have over 600 brick-and-mortar stores around the world, none are located in the US or Canada and their website redirects users to a different country’s browser, where exploration is difficult and purchase is impossible. Oysho is present in many social media platforms which they use to cohesively market and promote their product, as well as to understand and involve their target customer. Throughout these platforms (which includes Facebook, Twitter, Instagram, and Pinterest), Oysho places product reference numbers and click through links to their website for easy purchase, however, being able to purchase directly from the social media sites would make for a more fluent shopping experience. In regards to content, it would also be beneficial for Oysho to post more consistently and cohesively within all of their social platforms so customers receive the same experience across the board. Introduced in 2011, Oysho’s mobile app gives their customer the ability to browse and purchase products on-the-go, and also includes a “Scan” function for in-store use to check product availability online when it is not available in the store. Although this app allows for m-commerce, items that are saved to the mobile shopping cart do not transfer over to the shopping cart on Oysho’s website. This app also does not visibly connect to the brand’s social media platforms unless you click on a specific product, in which case you are able to share via Facebook, Twitter and personal messaging. The full integration of social media within the mobile app as well as the interactivity of Oysho’s shopping cart feature would definitely be beneficial to the Oysho customer and help the brand move towards a full omni-channel retailing experience. Currently, Oysho has not implemented any new technology into their brick-and-mortar stores other than the use of their mobile application concerning inventory. According to FashionMag.com, the brand is focusing on revamping their website to include higher quality images, horizontal scrolling, and a sidebar menu layout. These subtle new concepts aim to reflect the “look and feel” of Oysho’s brick-and-mortar stores while also providing a more compelling and user friendly web experience. Personalizing features such as e-mail and their newsletter would also be valuable in order to create a deeper connection and appreciation with Oysho’s target customer.
SOCIAL MEDIA AUDIT
1, 429, 062 likes on page
1, 417, 728 likes on page
Last timeline post -February 14th, 2016 (An average of 3-10 photos are posted montly)
1819 posts in total
Posts lack consistency
Link to website
Last video uploaded -October 2015
Reference numbers of products are available when posts are clicked
Shop now button link is broken 31
Most successful use of hashtags include: #OYSHOVALENTINE (761 posts) #OyshoYoga (620 posts) #OyshoGymwear (164 posts)
Twitter 87.5k followers 9,398 posts (posts every week) Website link available Average of 7 retweets per post Customer Support contact posted on Bio
10.5k followers 15 boards 764 pins Mostly posts on products and collection updates, also includes collaboration projects, a home style board, inspirational words, travel, and personal style boards.
2,502 Subscribers 530,465 Total views 65 total videos on 8 separate playlists Videos promote new campaigns, shares all yoga masterclasses that they have held across the world (International Yoga Tour 2015), and shares its new store openings with viewers.
Website Analytics & features
Shipping & Returns
No order can be placed from North America Free standard shipping is offered for orders over 35£ ($50) Free returns 30 days after date of purchase
970K visits (January 2016) Average of 7 min spent on site 8.14 Page views Traffic by countries: 30.32% Spain, 12.03% Poland, 10.3% France, 9.08% Russia 52% of traffic occurs organically, especially within especific searches 5.93% of traffic is from social media, with 80% directed from Facebook
Shopping Cart For US consumers, you are able to look at all products and place them in the cart, however, you are unable to view the checkout process The shopping cart lets shopper know how close they are in value to free shipping The cart allows for continued, easy shopping after item has been placed in it (doesn’t go to another window, just a hover-over cart)
Navigation Very easy to navigate with the pulldown menus for product category including a “highlights” section for each. Company information is at the bottom of page along with links to social media and blog, but would like to see a link for their YouTube page which has many informative videos. Customer support is very easy to find and answers to FAQ's pop-up within the same tab.
Search & Browse There is a good balance of easy navigation and cohesiveness throughout the website with both information and aesthetic in mind Search bar in top left corner lets you search for specific products by name or reference number 33
â€œThe Oysho Diaryâ€? Blog Only official outlet for blogging Categories include: Art & Culture, Music, Oysho News, We Love, and Events Less focused on promoting product than their social media, and more interested in building a community among their customers by: Posting about influential people in creative industries (photographers, actors, painters etc) and suggesting new musical artists and songs
Oysho Mobile App Free installation available for both Android users and iPhone users Last updated November 12, 2015 Has been installed between 100,000 and 500,000 times Able to view all of the latest product offerings, new collections, lookbooks and catalogs, as well as purchase items straight from the app If your size is sold out in an Oysho store location (not in US), you are able to scan the garment to check its availability online and then purchase through the app Products are cohesively labeled with a reference number so you are able to shop between mobile and e-commerce
II THE NEW STRATEGIC INITIATIVE 35
â€œWe are introducing Oysho into the US market through an online presence supported by the incorporation of a Virtual Dressing Room experience that will
benefit the brand by amplifying
new streamlined business model, the â€œ
Features of Virtual Fitting Room As an effort to create an exciting and unique experience for future customers, Oysho will incorporate a new technology into their app and website featuring a virtual fitting room. With this, Oysho’s website visitors will be able to visualize the fit of the brand’s latest collection on their unique body shape. The technology is based on projection mapping and gesture control that is able to trace the body and track its movements allowing the user to change garments with hand-free gestures. Customers can also capture photos during the tryon session and share them with friends through their social media platforms, the app or website. Additionally, the virtual fitting room allows customers to add garments on their shopping cart and heart their favorites for future purchases.
Features of US Website Oysho will enter the US market by creating a fully integrated global e-commerce platform. It will act as a place for brand exploration in markets where Oysho is not yet present. Doing this will benefit the brand by creating brand awareness and allowing it to measure consumer demand for possible new markets. On the other hand for customers located in countries where Oysho is already present, they will be able to choose and navigate through their designated website via a drop down menu. This will streamline Oysho’s e-commerce platform.
Features of Mobile App For a complete omni-channel experience the Oysho mobile app will follow the same format as the website in regards with global availability. Currently, in order to access the full capability of the app a user must fill out their address and create a profile. Therefore, the process will be simplified into just creating a username and password. Additional information will be required for the checkout process but this will be stored in the member account for future purchases. This change will encourage usage of the app throughout the whole experience since phone storage is a very valuable aspect to customers nowadays. Furthermore, Oysho’s app will do more than allow a customer to shop. It will format the virtual fitting room technology into mobile version, creating a fun interactive element to Oysho’s digital experience encouraging the involvement of friends and social media interaction/communication.
TECHNOLOGY Projection-mapped Gesture Control The technology behind the virtual dressing room is based on projection-mapped and gesture control, which is seamlessly supported and built into the website coding and app software. Through this integration, webcams and device cameras are enabled to take on interactions with sensors that transmit real time data to display on an app or website. The combination of these two softwares allows devices to scan human faces and bodies and ultimately equip the shopper to utilize their webcam as a magic mirror to try on items virtually.
KEY SUPPLIERS AND VENDORS Zugara Zugara was founded in 2001 as an interactive marketing agency that focused on developing innovative and interactive strategies for brands such as Sony, Toyota, Reebok, amongst others. In 2009 they took a huge step as a company and decided to re-direct their path focusing on the revolutionary idea of augmented reality, creating strategy driven experiences for retailers around the world. As a result, Zugara created the Webcam Social Shopper (WSS), their patented virtual dressing room, where customers are able to use their webcam as a mirror and try on clothes virtually just like they would in a store. But Zugara didn’t stop there, they they took a step forward and incorporated various features into their WSS such as giving the user the ability to take and share photos with their friends through social media accounts like Facebook, Twitter, E-mail, etc. Additionally, they engineered the virtual dressing room to be flexible, allowing its clients to customize, reskin, and localize it to suit their brand’s specific needs and aesthetic. The Webcam Social Shopper software also comes with tools that help measure real ROI (Return on Investment), an Apparel Image Editing Tool, a Motion Capture Interface, and an Analytics Platform that aids clients with tracking of customer’s behavior. Lastly, Zugara further expanded the WSS and is now built into digital kiosks, giving retailers the opportunity to analyze the customer’s interaction and feedback first hand.
Upanup Upanup is a marketing and communications agency that focuses on crafting user-centred experiences for businesses, brands, and communities. They succeed in leveraging what already exists and pairing it with the right technology in order to create the perfect solution. At Upanup they offer their clients a wide variety of services such as marketing, user experience research, strategy and design, enterprise websites, mobile apps, brand strategy, and much more. Oysho’s website and mobile app will be designed by Upanup in collaboration with Zugara to create a seamless experience throughout the whole omnichannel approach.
Discovery & Planning This step involves site mapping for the platform. At this stage Oysho will locate the gaps in their omni-channel and plan out strategies to fill them. Here Oysho will work to write out the technical and creative goals for the new e-commerce website. As for the virtual fitting room, Inditex will work with Zugara at this stage to plan and discover how the Webcam Social Shopper technology can be custom tailored to the Oysho. This will take approximately 5 weeks of research, creative development sessions and writing for the website and the virtual fitting room. The app will take 3 weeks, beginning June 1, 2016 and ending approx. June 29, 2016.
This step will be focused on the visual aspect of the website. The Oysho website will be revised to be globally accessible and more connected with other platforms while maintain the Oysho brand image. The user-interface of the Zugara tech will be designed to fit the Oysho brand. Mockups will be made and revised. This step is longer since the design goals will involve integrating the virtual fitting room. Website will take 8 weeks, from June 29, 2016 to August 17, 2016. The app will take 5 weeks, from July 6, 2016 to August 3, 2016. The virtual fitting room will take 8 weeks, from June 29, 2016 to August 17, 2016.
NAL CONSIDER ATIONS
Content Writing and Assembly
This step will take around the same amount of time as the design process. Writing content for the revamped site will be time consuming. Headlines and digital collateral will be created for the new promotions and features on the platform. This step will take 8 weeks for the website, from July 13, 2106 to August 31, 2016. The app will take 5, from August 3, 2016 to August 31, 2016.The virtual fitting will take 8 weeks, from July 13, 2016 to August 31, 2016.
Developing and Programming
he customization and implementation of the virtual fitting room technology will be done at this step. Therefore it will take longer than average to complete. At this step the website and app are brought to life after planning, designing, and prototyping. Because the website, app, and virtual fitting room are all connected, this will take an extensive 15 weeks for all the platforms. Focus will be given to the Zugara technology before completing the website and mobile app, from September 7, 2016 to December 14 2016.
Beta Testing and Review
Before launch, the app, website and fitting need to go through a beta-testing stage together to ensure that everything works harmoniously. The platforms are shared with selected clients and stakeholders for feedback. Additionally this stage ensures that everything works across all devices and browsers. This step takes 6 weeks for all platforms to ensure maximum compatibility, from December 21, 2016 to January 25, 2016
in February of 2016 Oysho expanded its e-commerce coverage into the European Union. This activity map for the US expansion was planned in order to launch around the same time in 2017. Oyshoâ€™s will launch its initiative on February 1, 2017.
Website Mock Up
Mobile App Mock Up
DOMESTIC MARKET ANALYSIS U.S Overview The continued rebound of the apparel market is driven by digital innovation and the growth of the sportswear market. Americans are willing to spend more on discretionary apparel items to the improvement of the economy. In 2014 internet retailing saw double digit growth, which is forecasted to continue in the future. Manufactures and retailers are focusing their efforts on creating smooth multichannel distribution strategies. Brands are trying to connect with customers at moments that are directly to them for more efficient brand awareness. Moving forward social media commerce, or s-commerce, is expected to become another platform for shopping. Consumers continue to demand low prices and companies struggle to keep up due to rising labor cost. The fast fashion landscape will become increasingly intense with UK brands such as Boohoo and Missguided attempting to increase their presence.
Sportswear Market in the US The sportswear market in the US has continued to grow, driven by the athleisure and active lifestyle trend. The US consumer remains value-oriented which makes the market prime for low-price sportswear retailers to enter the market. Yoga is one of the most popular activities among women. Overall, running is the favorite in the US; the number for people participating in running events is rising. In regard to distribution, sportswear retail has shifted more toward branded stores and online. The activewear market is expected to increase at a CAGR of 2% through 2019.
Underwear & Nightwear in the US The lingerie sector of the US womenswear market is experiencing static growth. Brands focus on finding the perfect fit and improving comfort. Overall the womenswear market is driven by active wear and multi-functional apparel. Within this sub-category of womenswear, swimwear is projected to have the highest growth. Emerging brands will boost growth in this sector.
RETAILERS OUTSIDE OF FASHION Who else employs this kind of iniciative? Most recently, Paypal, Nokia and other brands have leveraged The Webcam Social Shopper with Kinect for experiential events. Some examples are, the AT&T Soccer Game which used this augmented reality based experienced to allow its players to virtually head-in a soccer ball by capturing their motion via webcam or the Purina Pet Olympics online game, which captured the user’s gestures and motions to control how far their pet could ‘fly’ in the game and it also let them share their high score and image socially.
RETAILERS INSIDE OF FASHION The Virtual Dressing Room Technology is recently being used by retailers all over the globe, from small boutiques to enterprise level e-commerce companies. Overall, most of the usage of this technology has been event oriented where businesses such as Nordstrom, Ted Baker, and 7 for All Mankind have incorporated it in digital kiosks within their stores during special events hosted. It has also been seen in bigger events like the South Korea Expo 2012, SA Fashion Week, Brazil Fashion Business Expo 2012, and the Elle Fashion Show. According to Zugara, until now most of the representation of the technology has been used to promote products. Ideally it aims to loose the gap between e-commerce and in-store shopping by giving the consumer a unique experience to try on clothes and as a result, companies will be able to reduce major issues that occur with traditional online shopping such as low conversion or high return rates.
FUTURE COMPETITION When Oysho enters the US market as an exclusively online retailer, they’re direct competitors will change. With their low prices Oysho will be entering the market with a competitive edge. Other online-only retailers such as ASOS and Missguided already have a presence in the US market and are looking to strengthen their brand awareness. Online only retailers would be the most likely retailers to tap into the virtual fitting room technology. Like, Oysho, they would want to close the gap between in-store and online. It’s important to note that one of Oysho’s biggest challenges with entering the US is gaining brand awareness over dominating lingerie companies, Victoria Secret and Aerie. When it comes to in store competition Aerie is more likely to adopt similar technology. Implementing a virtual fitting would fit with their mission to show how their products look on every body type.
SUCCESS IMPACT A big opportunity exists for Oysho to tap into this emerging technology and take it further by incorporating it into their website. Doing this will set them apart from the fast-changing retail industry and help them keep up with consumer demand for constant innovation. Ideally this technology will lose the gap between digital and in-store experience by providing a new method for trying on clothes. However, this technology of the Virtual Dressing Room would still not meet customer’s desires to touch and feel the product thus exposing it to additional risks that could eventually affect the brand’s overall effectiveness/efficiency. For instance, how accurately the virtual clothes reflect a garment’s true fit or a product’s failure to meet the customer’s expectation could lead to post-purchase cognitive dissonance and loss of customer loyalty. Furthermore, because of the technology newness in the market, the current return AR solution and VR (virtual reality) marketing are undefinable in general.
PROPOSED TARGET CUSTOMER
Demographics With our new proposed target customer we are looking to attract women between the ages of 20 and 35, living in major cities across the United States. Commonly referred to as "Urban Uptowners", consumers that fall under this market segmentation lead the nation's welathiest urban lifestyles. Members of this social group tend to be midscale to upscale, college educated and ethnically diverse, with above-average concentrations of Asian and Hispanic Americans. Although this group is diverse in terms of housing styles and family sizes, residents share an upscale urban perspective that's reflected in their marketplace choices. Urban Uptown consumers tend to frequent the arts, shop at exclusive retailers, drive luxury imports, travel abroad, and spend heavily on computer and wireless technology. Statistics 2016: Approximately 10,735,227 US Households fall under this category.
Pshychographics The Experiencer Young, enthusiastic, impulsive women who seek excitement and variety in their lifestyle Motivated by self-expression Avid consumer who spends a high proportion of their income on fashion, entertainment, and social events and activities Their purchases reflect an emphasis they place on looking good They enjoy being outdoors, being extremely social, and participating in exercise as frequently as possible (athletics, yoga, dance) The Striver Motivated by achievement Concerned about the opinions and approval of others Trend driven and fun loving Very interested in current fashion trends, but flock to affordable brands over designer due to a middle-class income. They frequently shop faux luxury. Considered to be active consumers, they perceive shopping as a highlight social activity and an opportunity to prove their ability to purchase to peers Also extremely impulsive with their purchases
CONSUMER TRENDS USA
Strong Consumer Spending
Due to the strengthening of the USâ€™ economy, there will be increased rate of spending. Because the job market will be stronger, household income will increase and consumer will not be hesitant to spend more.
Millenials are the leading consumer group It is estimated that by 2017, young consumers (millennials) will be spending around $200 billion annually. These consumers have grown up with digital technology and their lives as consumers require intensive technological interaction. Their comfort with technology drives the growth of m-commerce as well as the development of social media.
M-commerce continues to change the customer behavior. Smartphones have easy internet access and barcode scanning, which has altered consumer behavior in retail especially. Consumers use smartphones to also review products, obtain information about products, and participate in comparative shopping
27 years old Born in Chicago, Illinois BFA in Performing Arts Professional Ballet Dancer (The American Ballet Theater) Makes $70,000 a year Lifestyle: Dance rehersals everyday, Uptown girl, enjoys social hangouts, leads a fast-paced schedule, film fanatic Media-savvy: Holds an official Facebook, Instagram and YouTube account for her professional career. topping the 70k followers. iMessage, Snapchat, Spotify and Uber are checked on a daily with high frequency impact. Shopping behaviors: Limited free time doesn't allow for frequent brick and mortar visits. Most impulse buys are done through ecommerce Opinions and beliefs based on an ambitious mindset, compromised to her passions, invested in empowering women
COMMUNICATION AND PROMOTIONAL PLAN 54
Pre-Launch Advertising Strategy To build excitement and anticipation for the launch of Oysho in the US, social media promotion will begin two week before the launch date. The Top social media platforms in the US for millennials are Facebook, Pinterest, Instagram, LinkedIn and Twitter, consecutively. Across all platforms Oysho will post teasers for the e-commerce launch in the US, beginning in December 7, 2016, approximately two months before the launch date. The pre-launch will be focused on social media due to the potential of it reaching global audiences at a fast rate through hashtags and shares. The hashtag to link post across platforms will be #OyshoAmericana. KPI: increase in social media mentions, increase in follower s
Printed Invites will be sent to all our registered customer accounts on our website. The personalized message will be directly sent to the account holder with an invite that doubles as a 20% off dollar coupon to be spent on any online purchases or directly on the newest collection presented through the Zara Digital Kioks and Pop-ups all across.
E-Newsletter The E-Newsletter is sent directly to all our customers on the data and will pop up on their inbox tab with different emoji s to capture and highlight attention to drive interest. Once the customer clicks and opens up the E-mail the newsletter will show a "Click Here" button that will directly send them to the new US Website and onto the Virtual Fitting Room Menu.
Teasers will not only be limited to video uploads, but rather, cohesive photographic content that will tie everything in. Social Media advertising will be based out of 2 main tag lines: "Follow Your Dreams, We Follow Your Movements" and "This Could be You and All of This Could be Yours". These are going to be posted consistently throughout all their platforms with a more direct focus on Facebook and Instagram.
Launch Advertising Strategy
Selected Zara Stores
Direct Link on Zara Website: Strengthen their brand awareness in the US market will be Oysho’s biggest challenge. However, as an Inditex subsidiary they have the opportunity to hitch onto Zara’s strong brand presence. A direct link to Oysho.com.us on Zara.com will boost the brand. It allows customers that are loyal to Zara to discover a new brand that offers different product categories with the same attractive prices. The direct link will appear on the day of the launch on the Zara US website. Its location will be subtly placed but easy to find on the side menu under editorials. The link will lead the user to a page with Oysho’s digital look book, there will be a link that will direct the shopper to the new US e-commerce site. KPIs: Bounce Rate of referrals is 10%, Time spent on Oysho.com Increases %30, Site traffic increased 15% during promotion period. Virtual Fitting Room Kiosk: Five Zara stores in top cities around the country will be chosen to have virtual fitting room kiosk. This kiosk will remain in these stores for three week to increase Oyhso’s brand awareness and create excitement for the online virtual fitting room. The Kiosk will allow you to try-on Oysho clothing. The Kiosk will also incorporate a QR code and encourage customers to shop the app and website. Kiosk will be placed in stores on the Launch day, February 1, 2017. KPIs: 3750 customer engagements per kiosk.
101, FIFTH AVENUE, 10003 NEW YORK, NY 700, N MICHIGAN AVENUE, 60611 – CHICAGO, IL DADELAND MALL, 7535, NORTH KENDALL DRIVE, 33156 – MIAMI, FL LOS ANGELES-DOWNTOWN, 725, SOUTH FIGUEROA STREET SPACE 301, 90017 LOS ANGELES, CA THE DOMAIN, 3409, ESPERANZA CROSSING SPACE P-100, 78758 – AUSTIN, TX
Post-Launch Advertising Strategy App Download Discount: Post-Launch, %10 will be offered in exchange for downloading the Oysho app and logging in. This will encourage app downloads and customer retention. 50% increase in app downloads during promotional period. Oysho Trip Sweepstake: Customers are asked to share a photo of them using the virtual fitting room to be entered to win a trip to Spain. The post ; increased social media mentions. Must include #OyshoFittingRoom. By incentivizing people to share this will reach a wider audience. KPIs
KPI (Key Performance Indicators) KPI
Social Media Traffic Contribution
Current traffic from social media 5.21% according to similar web
Referred Bounce Rate
Bounce rate for overall website is 19.89% similar web
Increase in Followers
Direct Link on Zara.com Traffic Contribution
Ccurrent traffic from referral is 15.20%
Referred Bounce Rate
Bounce rate for overall website is 19.89% similar web
Increase in Followers
Expected to be higher than the industry standard of 1% due to common target audience
Newsletter Open Rate
Based on e-commerce averages from Mail Chimp
Bounce rate for overall website is 19.89% similar web
App Download Retention Rate
38% of app users are likely to download an app when its required to complete a purchase, half of which would uninstall it after purchase is complete
ROI (Return on Investment) Investment Value Social Media Net Sales (2014)
*0.3% of sales spent on Advertising Advertising Budget *13% of Budget goes to Social Media
Social Media Budget
*20% of Social Media Budget for Initiative Total Cost
Investment Value Newsletter Production And Content Wages
25 hours at $15 per hour
Graphics, Upload, Upkeep of Newsletter
Investment Value Zara Link Maintenance
Cration of Link
$ 10,700 60
RETURN VALUES ON PROMOTION
Return Values on Promotions Conversion Value
Month 3 Month 4 Month 5
Social Medial Followers
assume 15% monthly grow
Direct Link on Zara.com
assume 10% monthly grow
assume 15% monthly grow
assume 15% monthly grow
Month 6 Month 7 Month 8
Month 11 Month 12
FINANCIAL BREAKDOWN 63
AVR.PRICE Bras Briefs Lingerie (nighties, robes, bodysuits etc.) Sleepwear Sportswear Swimsuits Beachwear Footwear Accessories Total
Market percent based on inditex average, Conversion rate based on modest industry standard conversion rate in ecommerce. Website traffic based on monthly traffic to oysho site from country outside of Spain. Average Basket based on apparel and footwear expendtures of US target custome as reported by Euromonitor.
(all amounts shown in USD) (MARKUP 60%) PRODUCT Bras Briefs Lingerie (nighties, robes, bodysuits) Sleepwear Sportswear Swimsuits Beachwear Footwear Accessories Total
$ 21.65 12.02 $ 34.05 $ 21.94 $ 26.05 $ 19.47 $ 29.88 $ 24.86 $ 18.03
15% 10% 15% 20% 14% 8% 6% 7% 5% 100%
Website Traffic Conversion Rate Avr.Basket Total Revenue COGS
Month 1 AVR.UNIT 241 290 153 318 187 143 70 98 97 1,597
8708 0.1 $ 40.00 $ 34,832.00 $ 13,932.80 Month 1 $ 5,224.80 $ 3,483.20 $ 5,224.80 $ 6,966.40 $ 4,876.48 $ 2,786.56 $ 2,089.92 $ 2,438.24 $ 1,741.60
Month 2 AVR.UNIT 483 580 307 635 374 286 140 196 193 3,194
Month 2 17416 0.1 $ 40.00 $ 69,664.00 $ 27,865.60 Month 2 $ 10,449.60 $ 6,966.40 $ 10,449.60 $ 13,932.80 $ 9,752.96 $ 5,573.12 $ 4,179.84 $ 4,876.48 $ 3,483.20
Month 3 AVR.UNIT 724 869 460 953 562 429 210 294 290 4,791
Month 3 26124 0.1 $ 40.00 $ 104,496.00 $ 41,798.40 Month 3 $ 15,674.40 $ 10,449.60 $ 15,674.40 $ 20,899.20 $ 14,629.44 $ 8,359.68 $ 6,269.76 $ 7,314.72 $ 5,224.80
Month 4 AVR.UNIT 965 1,159 614 1,270 749 572 280 392 386 6,388
34832 0.1 $ 40.00 $ 139,328.00 $ 55,731.20 Month 4 $ 20,899.20 $ 13,932.80 $ 20,899.20 $ 27,865.60 $ 19,505.92 $ 11,146.24 $ 8,359.68 $ 9,752.96 $ 6,966.40
Month 5 AVR.UNIT 1,207 1,449 767 1,588 936 716 350 490 483 7,985
43540 0.1 $ 40.00 $ 174,160.00 $ 69,664.00 Month 5 $ 26,124.00 $ 17,416.00 $ 26,124.00 $ 34,832.00 $ 24,382.40 $ 13,932.80 $ 10,449.60 $ 12,191.20 $ 8,708.00
Month 6 AVR.UNIT 1,448 1,739 921 1,905 1,123 859 420 588 580 9,582
52248 0.1 $ 40.00 $ 208,992.00 $ 83,596.80 Month 6 $ 31,348.80 $ 20,899.20 $ 31,348.80 $ 41,798.40 $ 29,258.88 $ 16,719.36 $ 12,539.52 $ 14,629.44 $ 10,449.60
Month 7 AVR.UNIT 1,689 2,028 1,074 2,223 1,310 1,002 490 687 676 11,179
60956 0.1 $ 40.00 $ 243,824.00 $ 97,529.60 Month 7 $ 36,573.60 $ 24,382.40 $ 36,573.60 $ 48,764.80 $ 34,135.36 $ 19,505.92 $ 14,629.44 $ 17,067.68 $ 12,191.20
Month 8 AVR.UNIT 1,931 2,318 1,228 2,540 1,498 1,145 560 785 773 12,776
69664 0.1 $ 40.00 $ 278,656.00 $ 111,462.40 Month 8 $ 41,798.40 $ 27,865.60 $ 41,798.40 $ 55,731.20 $ 39,011.84 $ 22,292.48 $ 16,719.36 $ 19,505.92 $ 13,932.80
Sales Forecast for a 12-month period
Month 9 AVR.UNIT 2,172 2,608 1,381 2,858 1,685 1,288 629 883 869 14,373
78372 0.1 $ 40.00 $ 313,488.00 $ 125,395.20 Month 9 $ 47,023.20 $ 31,348.80 $ 47,023.20 $ 62,697.60 $ 43,888.32 $ 25,079.04 $ 18,809.28 $ 21,944.16 $ 15,674.40
Month 10 AVR.UNIT 2,413 2,898 1,534 3,175 1,872 1,431 699 981 966 15,970
Month 10 87080 0.1 $ 40.00 $ 348,320.00 $ 139,328.00 Month 10 $ 52,248.00 $ 34,832.00 $ 52,248.00 $ 69,664.00 $ 48,764.80 $ 27,865.60 $ 20,899.20 $ 24,382.40 $ 17,416.00
Month 11 AVR.UNIT 2,655 3,188 1,688 3,493 2,059 1,574 769 1,079 1,063 17,567
Month 11 95788 0.1 $ 40.00 $ 383,152.00 $ 153,260.80 Month 11 $ 57,472.80 $ 38,315.20 $ 57,472.80 $ 76,630.40 $ 53,641.28 $ 30,652.16 $ 22,989.12 $ 26,820.64 $ 19,157.60
Month 12 AVR.UNIT 2,896 3,478 1,841 3,810 2,246 1,718 839 1,177 1,159 19,165
Month 12 104500 0.1 $ 40.00 $ 418,000.00 $ 167,200.00 Month 12 $ 62,700.00 $ 41,800.00 $ 62,700.00 $ 83,600.00 $ 58,520.00 $ 33,440.00 $ 25,080.00 $ 29,260.00 $ 20,900.00
ESTIMATE TOT.UNITS 18,824 22,603 11,969 24,767 14,601 11,163 5,456 7,650 7,534 124,568
$ 2,716,912.00 $ 1,086,764.80
localization project manger
5/1/2017 Month 5
6/1/2017 Month 8
9/1/2017 Month 9
1/1/2018 Month 12
$111,462.40 $125,395.20 $139,328.00 $153,260.80 $167,200.00
$104,496.00 $125,395.20 $146,294.40 $167,193.60 $188,092.80 $208,992.00 $229,891.20 $250,800.00
Earnings (before tax)
$104,496.00 $139,328.00 $174,160.00 $208,992.00 $243,824.00 $278,656.00 $313,488.00 $348,320.00 $383,152.00 $418,000.00
Platform Maintence http://www.arimaweb.com/blogs/how-much-does-it-cost-to-maintain-a-website.aspx
regional logistics and operations manager
Operation Expenses (refer to activity map)
regional director of distribution
Wages and Salaries salary.com
Financial Statement This 12 month finacial plan gives the Outlook of the year after launching the the new imitative in The US. Key expenses come into play such as maintenance of the platforms, licensing Zugara, and monitoring social media. Cost for maintaining the website and app post-launch was determine by looking at the average salaries of professional hired to to preform these task. The cost of the licensing the virtual fitting room technology is determined by looking at the average traffic for country's outside of Spain to Oysho.com. We also took into consideration of click on the mobile app. The traffic will growth gradually after launch and the monthly cost is reflective of this growth. The 1st year traffic goal for the webpage would be 104500. This puts the US along side other country where Oysho provides e-commerce. Finally monitoring social media will be essential to the growth of the platform and omni-channel. The cost for this is figured my looking at the salaries of social media managers and assistants. Despite high cost of promotional activities and platform development, It is forecasted that Oysho will see positive earning from the US expansion, even with modest traffic forecast, and a low traffic conversion rate of 1.0.
Our strategic initiative to introduce Oysho into the US market will not only increase revenue for the brand, but also reach a new customer market to raise brand awareness. The application of the virtual fitting room technology into Oyshoâ€™s website and mobile app will create a more engaging customer experience, bridging the gap between ecommerce and brick-and-mortar shopping. If using the virtual fitting room proves to be as successful as projected, this could become a technology that is implemented throughout all of the Inditex Brands. In the future, Inditex could potentially acquire Zugaraâ€™s technology for exclusive use to save on expenses. Oysho will benefit from creating a fully integrated global ecommerce platform which will, in turn, help them move towards a more seamless omnichannel retailing experience.
Apparel and Footwear in the U.S
Apparel and Footwear in Spain A reversal of the negative trend: In 2014 apparel and footwear in Spain registered its first year of positive growth in the review period, and reversed the negative trend which started in 2008, at the outset of the deep economic crisis. In 2014 the Spanish population finally seemed to regain trust, after the country registered GDP growth, the number of employed Spaniards increased and the purchasing power of the population stopped declining. Furthermore, deflation and promotional activities gave the necessary support to the reactivation of purchases, and Spaniards finally made those purchases which were postponed during the review period. Womenswear drove the recovery, whilst footwear still showed a poor performance. Portfolio expansion and flagship stores boost sales: Fashion brands adopted new strategies to gain position in the market. The growing popularity of sports and casualwear encouraged popular brands such as Desigual, Mango and Zara to introduce sportswear collections in 2013 and 2014. Similarly, manufacturers launched underwear and childrenswear lines to drive up sales. On the other hand, 2014 registered the opening of numerous flagship and macro stores, such as those of Primark, Desigual, Massimo Dutti and Louis Vuitton. These demonstrate manufacturers’ strategy of creating a strong image to increase customer loyalty towards their brands. Low cost is the key to success: Low cost retailers continued to gain momentum in Spain, and to gain market share. The Irish low cost retailer Primark was the uncontested leader in this segment, and continued to strongly gain ground. The expansion of its retail network, and the wide availability of products in terms of different categories, sizes, colours and models, ensured Primark registered amongst the fastest growth in 2013 and 2014, and it climbed the ranking in apparel and footwear in Spain. Similarly, Lefties, Shana and Kiabi, which are also positioned at the low-end of the market, continued to gain popularity in the country. Internet retailing continues to register strong growth. Online sales increased in importance in brands’ revenues, and manufacturers competed to offer the best shopping experience in their web stores. A “click and collect” service is already offered by all the most important retailers, and the majority of the top players launched their web stores, including H&M in August 2014. Following this, internet retailing registered strong growth in sales in 2013 and 2014 in value terms. Footwear was the category which registered the best performance. No more negative rates expected in the forecast period Between 2014 and 2019 the Spanish apparel and footwear market is expected to consolidate its positive performance, and to grow by a value CAGR of 2% at constant 2014 prices. Euromonitor International’s macroeconomic projections for the next five years are set to be reflected in the performance of apparel and footwear in Spain. Total GDP is expected to grow by 10% between 2014 and 2019, whilst the unemployment rate is expected to fall from 25% in 2014 to 17% in 2019. On the other hand, average unit prices are expected to steadily increase only from 2016 onwards, determining slower growth in value terms compared with volume terms.
Lingerie In Spain
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Is a b e l As e ns i o Ke l e k a M o b l e y Daniella Arcila Sam DiBernardo