Plush Team - A Plush.com will be a personal, on-line shopping destination for the professional plus size Customers, Suppliers women & Industry Experts: Yesterday: 21 Total: 61 Helen Autumn Shashi Jennifer SandroBibilouri Cherrington Srikantan Tuft Pireno
PlushPlus-sized women’s clothing is a $7.5bnindustry; market expected to grow 5.2%annually, reaching $9.7 billion of revenueby 2017At the consumer level:•women between the ages of 25 and 54 represent 69.5% of the market for plussized 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 2010were:•12 million women (ages 18 to 34)•20 million women (ages 35 to 54)•21 million women (aged 55 and older)
PlushWho are we? Shopplushny.com
Who is she?Plush 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
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 Day 1What we thought• 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.
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Plush Day 2 Day 3 Day 4What we learned What we learned What we learned• Have three customer • Customers want accurate • It is possible to “borrow” segments. details on clothing. pieces from manufacturers to test sales.• May be able to leverage new • Price isn’t a primary driver customers to procure of decisions. • Influential tastemakers are inventory. likely to be the best • Woman are willing to share earlyvangelists for Plush.• Customers interested in purchases with personal premium services like network who share their • Starting with MVP allows a personal stylists. needs. significant reduction in cost structure.• Some key partners such as • Customers prefer: distributors can be • Contemporary basics • Affiliate marketing could be eliminated at this stage. and quality over a source of revenue. trendy. • Physical stores to • Emphasis should be on online, but could be proper fit, high quality converted if they found brands, and contemporary a site they trusted. basics and education.
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Plush Day 5Where 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.
Plush DAY - 5 Team - A • An online, customized • Targeted influencer •Procurement • Professional and shopping destination for marketing(feet on the st.)•Early Evangelist: •Supply Chain fashionable plus-sized •Website Production professional & • Adwords American Women - Influential fashionable plus sized • Social Media - Brand Appropriate •Customized Advice • Less price sensitive women • Retention: • High quality clothes - Active Driver •Marketing • Superior Customer • Customer Service•Fulfillment • Contemporary basics •Advertising Service • Service Innovation • Prefer tailored•Shipping • Personal Stylist (know • Targeted loyalty•Website experience your customer in detail) communications•End User (Customers) • Mature Brands Pain Points: • Leveraging data and new • Frustrating shopping customer assets • Department Stores•Manufacturers•Retail Stores experience•Designer Brands • Ill fitting, poor quality clothing•Warehouse • Too many returns•Web Service Provider •Content (inv, images) • Web Sales •Start-up funding • Acquisition of customer •Founding Team segment •Fulfillment • Elimination of excess •Customer Service inventory •Advertising/Marketing • Market and data •Vendor Agreements research•Developer •Marketing Platform •Look Book • Product Sales•Procurement • E-Commerce •Website Content •Returns • Premium Services•Advertising •Shipping •Customer Service•CRM •Warehouse •Full site Production•Inventory •Office Space End Users Suppliers Full Product Launch
Plush Competitive Analysis Plus Size Educational Specialty Personal Shopper Web Sales Content Plush Yes Yes, National Yes Yes In-Person; only in The Curvy Fashionista Yes Bay Area No Yes The Plus Size Fashion Diva Yes No No Yes Yes, but a 4 week Outblush Yes waitlist Indirect Yes UniquelyMe Yes No Indirect No Yes, but only in South Yes, but only Myles Ahead Yes Florida own brand No Total Imaging Consulting No Yes No Yes Yes, but only a handful for blog Mommas Rolling Stone No editorial No Yes P.S. Its Fashion Yes Yes, but only in NJ No No Style for Hire No Yes No No MadisonPlus Yes No Indirect YesNote: Competitive Analysis includes 200+ sites
PlushMarketing Plan will include test & learn campaignswithin the following channels: Adwords Educational content within site Collateral for influencers Industry events PR in selected publications and blogs Social media and communities (i.e. Pinterest) Hyper-contextual targeting of niche groups (i.e. Linked In) Facebook & LinkedIn sites
Plush Operations Overview Early Evangelist E C n uI t Manufacturing Key Words d sn o Plush tv r Blogs Retail Store Inventory Customers U oe y Cross-Platform s m Promotionn Designer Brand e e Digital Advertising r r Shipping & Fulfillment