This document provides a marketing plan to launch a new line of crystal jewelry from the Etsy shop Vermeer Jewellery as part of a partnership between Macy's and Etsy. It recommends focusing the marketing efforts on social media influencers and emphasizing the healing properties and sustainability of the crystals. A month before launch, influencers will promote the line on platforms like Instagram, Snapchat, YouTube and Facebook to generate excitement. In-store displays at Macy's will highlight the jewelry's versatility and uniqueness to appeal to millennial customers.
ASD Home Interiors, Gift + Fashion Trend ReportASD Market Week
The ASD Market Week looks that the three hottest trends in the retail industry for 2015 - 2016. The fashion accessories, home interiors and small gifts are covered in this comprehensive report. Mens and womens fashion accessories are featured. Expert interviews from David Bromstad and Nate Berkus.
Rise and Fall of The Mall, American Mall, Fall of the Mall, Brick and Mortar Store, Retail, Loss of the Mall, Infographic, eCommerce, Ecommerce, Online Shopping
ASD Market Week Post Show Report August 2015ASDExhibitor
Learn why ASD Market Week is the most comprehensive B2B trade show in the US! Our Post Show Report from August 2015 outlines how you can reach new buyers and find new markets at ASD.
Ask a CEO if they want to spend a pile of money on an analysis of their company's story, and they'll probably throw you out of their office. But if you tell them that you have a powerful insight that can help them raise the prices on all of their products, they might ask you over to their house for dinner. Money talks, in other words. Unfortunately, in most companies, the power of story to affect pricing still remains unknown, or at least it's vastly under-utilized.
Merchandise Strategies: Macy's Case StudyQuinn Nevares
This case study examines Macy's current merchandising strategies and initiatives, their top competitors and suggested actionable points to increase their share of wallet of the Millennial target market.
Macy's Case Study - Merchandise Strategies FIDM 2013taylorurbany
This case study examines Macy's strategies for attracting millennial customers, specifically looking at their Mstylelab department which targets women ages 13-22. It analyzes Mstylelab's current product assortments, pricing, branding, and marketing strategies. It suggests increasing the bottoms selection and visibility of top brands. Celebrity collaborations and trend-focused collections are recommended. Competitors like Target and Nordstrom are also examined.
Macy's needs to evolve its mobile app and online presence to better compete with online retailers. The team proposes replacing the current Macy's app with "M by Macy's", which would personalize the shopping experience for each customer. They outline three action points: 1) "My Rack" allows ordering items to try on in-store; 2) barcode scanning provides product information and recommendations; 3) "My M.A.P.'s" guides customers to items in-store. They also propose in-store "Trend Racks" and digital displays to promote popular items and the new app features, strengthening customer connections to the Macy's brand.
ASD Home Interiors, Gift + Fashion Trend ReportASD Market Week
The ASD Market Week looks that the three hottest trends in the retail industry for 2015 - 2016. The fashion accessories, home interiors and small gifts are covered in this comprehensive report. Mens and womens fashion accessories are featured. Expert interviews from David Bromstad and Nate Berkus.
Rise and Fall of The Mall, American Mall, Fall of the Mall, Brick and Mortar Store, Retail, Loss of the Mall, Infographic, eCommerce, Ecommerce, Online Shopping
ASD Market Week Post Show Report August 2015ASDExhibitor
Learn why ASD Market Week is the most comprehensive B2B trade show in the US! Our Post Show Report from August 2015 outlines how you can reach new buyers and find new markets at ASD.
Ask a CEO if they want to spend a pile of money on an analysis of their company's story, and they'll probably throw you out of their office. But if you tell them that you have a powerful insight that can help them raise the prices on all of their products, they might ask you over to their house for dinner. Money talks, in other words. Unfortunately, in most companies, the power of story to affect pricing still remains unknown, or at least it's vastly under-utilized.
Merchandise Strategies: Macy's Case StudyQuinn Nevares
This case study examines Macy's current merchandising strategies and initiatives, their top competitors and suggested actionable points to increase their share of wallet of the Millennial target market.
Macy's Case Study - Merchandise Strategies FIDM 2013taylorurbany
This case study examines Macy's strategies for attracting millennial customers, specifically looking at their Mstylelab department which targets women ages 13-22. It analyzes Mstylelab's current product assortments, pricing, branding, and marketing strategies. It suggests increasing the bottoms selection and visibility of top brands. Celebrity collaborations and trend-focused collections are recommended. Competitors like Target and Nordstrom are also examined.
Macy's needs to evolve its mobile app and online presence to better compete with online retailers. The team proposes replacing the current Macy's app with "M by Macy's", which would personalize the shopping experience for each customer. They outline three action points: 1) "My Rack" allows ordering items to try on in-store; 2) barcode scanning provides product information and recommendations; 3) "My M.A.P.'s" guides customers to items in-store. They also propose in-store "Trend Racks" and digital displays to promote popular items and the new app features, strengthening customer connections to the Macy's brand.
This document provides an overview of the Macy's department store company including a brief history, business model, organizational structure, and SWOT analysis. Macy's was founded in 1858 and is known for its flagship store in New York City and the annual Macy's Thanksgiving Day Parade. The company operates over 800 stores across the US and employs over 175,000 people. It generates revenue through its business-to-customer retail model selling a variety of brand name products. The organizational structure consists of divisions, regional leadership, and corporate oversight. A SWOT analysis identifies Macy's strengths in branding and advertising but also weaknesses such as declining profits and lack of diversification.
Malls were once dominant symbols of communities but are now in decline. Shopping malls are seeing decreased attendance as online shopping rises and consumer habits change. The author visited a local mall, Eastern Hills Mall, and found mostly empty parking lots and closed stores. However, on a recent weekend for Christmas shopping the lot was fuller. To survive, malls may need to reinvent themselves as multi-purpose community centers with services beyond just shopping.
The document summarizes retail trends among Chinese youth in 2010. Key trends included: (1) Social media sites that allowed youth to see others' opinions on products and make shopping social; (2) New experiential retail environments like kids hair salons and playgrounds that sparked children's imaginations; and (3) Chinese brands gaining prominence and launching new concept stores both domestically and abroad to target Chinese consumers. Flash sales, mobile payments, and bringing online features to physical stores were also trends seen in 2010.
Econ Project - Victorias secret power pointbwellington
Victoria's Secret markets bras and underwear to appeal to younger generations. It has over 1,000 stores for easy access and catalogs/websites for at-home purchases. While it faces competition from other brands, opportunities exist to expand into new markets and lines. However, sales can decrease due to weather, prices, or controversies. The document discusses creating a holiday line targeting the 2013 Christmas season to become the top selling collection and sell 1 million items by 2014. Marketing strategies include fashion show endorsements and pricing items high initially with coupons.
The Luxury Institute provides trends for the upcoming year. However, the economic crisis will impact the luxury industry in several ways. Fewer "mass consumers" and declines in wealth even among the rich will decrease luxury spending. But strong brands should invest during downturns to position themselves for long term success. Younger generations and mobile technology will also increasingly influence the industry. As the economy worsens, price and value will matter more to consumers. Philanthropy and corporate social responsibility will also become more important for building brand reputation. Classic luxury can coexist with selective indulgence guided by trusted advisors. Trust, authentication, and validation will be more important to consumers in making purchasing decisions.
The document introduces the 6 P's of Luxury Marketing framework, which includes People, Product, Passion, Pleasure, Purpose, and Price. It argues that luxury marketers need to take a more nuanced approach that recognizes diversity among luxury consumers. The 6 P's framework allows marketers to understand consumers beyond basic demographics and build longer-lasting relationships. Each P encompasses an important aspect of how luxury consumers experience and interact with brands.
The document summarizes news about Lisa Robin Jewelry and their recognition as a Copper Circle Finalist in a national jewelry design competition. It also provides information about Warner Box & Display's online specials, upcoming trade shows and new products.
Digital marketing strategy victoria's secretRoshni Rajan
This document provides a digital marketing strategy for Victoria's Secret. It begins with an overview of Victoria's Secret as a brand and analysis showing declining sales. Competitors like Aerie, La Senza and Third Love are growing. The strategy proposes generating more online sales and social media engagement through SEO, Google Shopping campaigns, social media, email marketing and improving the customer experience. Personas of target customers are provided along with goals, metrics and tactics for each channel through 2019 to increase sales and loyalty.
Ten very special things, The worlds' most interesting storeUllash Tiwari
Ten Very Special Things is an online store that sells collectibles and objects of obsession, with profits donated to charity. It allows people to convert possessions into donations for their favorite cause. Items for sale include limited editions, cult brands, and objects with notable histories or owners. Donors choose the charity that receives a portion of the sale price and get promotional benefits. The store aims to connect individuals, businesses and charities through ecommerce in a novel way.
Etsy is an online marketplace that allows crafters, artists, and collectors to sell handmade and vintage goods. It was launched in 2005 by a small company as a place for unique items. Sellers can create shops to sell a variety of products for a fee of 3.5% per listing. Buyers can browse categories or search for items and add them to a cart for checkout. The site also allows users to personalize their experience by selecting interests and connect with others through following friends' accounts.
Victoria's Secret is the largest lingerie retailer in the United States, founded in 1977. It grew successful by targeting female customers and releasing a wide variety of products. However, it now faces challenges from competitors offering cheaper alternatives and changing customer preferences. To adapt, Victoria's Secret should move away from outdated concepts like angels and focus more on understanding today's women through improved customer research.
Leslie Wexner bought Victoria's Secret in 1982 for $1 million after noticing the brand's potential while shopping in one of their stores. He implemented a direct marketing strategy focused on appealing to female customers through catalogs, television commercials, and annual fashion shows featuring top supermodels. This helped transform Victoria's Secret into a multi-billion dollar company with over 1,000 stores worldwide known for making women feel confident and sexy through high-quality lingerie associated with celebrity models. To continue growing, Victoria's Secret seeks feedback from loyal customers and follows fashion trends while maintaining and expanding its customer database through various digital marketing channels.
The document discusses the relationship between Italian consumers and luxury goods. It provides background on luxury goods and how they differ from necessity goods. Despite economic downturns, the luxury goods market has continued to thrive in Italy due to traditional Italian values that associate luxury goods with high social status. The document explores Italian attitudes toward counterfeit luxury goods and how surveys can provide insights into consumer behavior regarding luxury brands. It outlines the researcher's plan to conduct primary and secondary research on this topic through consumer surveys and a business profile to understand the luxury market.
Victoria's Secret was founded in 1977 and acquired by Limited Brands in 1982. Limited Brands transformed Victoria's Secret into a brand for women's intimate apparel. Victoria's Secret now has over 1,000 stores in the US and targets middle-aged women ages 20-40. It also has a younger-focused line called PINK. Victoria's Secret uses extensive marketing including its annual fashion show, print catalogues, and social media to promote its brands. While very successful, it also faces criticism for sexualizing young women.
1) The Tom's store in Austin, Texas creates a memorable experience for customers through its emphasis on community and culture.
2) The store goes beyond just selling products by telling the story of Tom's philanthropic mission and impact through displays about the communities it helps.
3) Customers are made to feel like they are participating in a community rather than just shopping, with outdoor spaces that allow people to gather and connect over Tom's message of social change.
The document analyzes the partnership between Etsy and Macy's, suggesting opportunities for growth. It recommends focusing on the Etsy seller Layered & Long, which specializes in personalized jewelry popular among female millennials. A marketing campaign and product assortment is proposed to optimize the partnership by creating a personalized experience for customers and expressing individual style through customizable jewelry pieces.
This document discusses how various retailers are innovating their brick-and-mortar store experiences to attract customers. It provides examples of brands like & Other Stories, Anthropologie, Billy Reid, MiniLuxe, Blue Nile, Warby Parker, Bonobos, Alo Yoga, Eataly, Wally's, Tesla and Ford that are enhancing the in-store experience through brand storytelling, customized services, events, and interactive spaces. The document also discusses how online retailers are opening physical stores to benefit from omnichannel shopping and address customers who want to touch and see products before buying.
Lacey Couture Designs Marketing Plan Part ALori Tantawi
Lacey Couture Jewelry aims to provide affordable, unique jewelry designs through their location in the Exagere' Art Gallery in New Orleans. Their target audience is women aged 24-35. They will implement a digital marketing campaign with goals of increasing brand awareness and sales through social media, promotions, advertising, and email marketing. Over the one year campaign, they aim to gain 1,000 social media followers, increase holiday sales by 50%, feature their designs on 8 of 15 billboards, and grow their email list to 800 subscribers.
The following paper offers a glimpse into what retailing will look like in 2020 and outlines the implications for retailers today. In order to succeed, retailers will have to rethink their strategies and their points of differentiation; the customers of 2020 will require it.
The luxury goods market saw significant declines during the recession but has since recovered, though consumer behaviors have changed. Younger consumers expect more experiential luxury rather than material goods, and emerging markets like China are growing in importance. For luxury retailers to succeed, they must manage their brand portfolios strategically, capitalize on growth markets, engage consumers through new channels, address counterfeiting, and leverage technology to enhance the customer experience.
This report marks the 20th year of identifying
the 250 largest retailers around the world and
analyzing their performance across geographies,
sectors, and channels.
Over the last 20 years we have seen a seismic shift
in retail and the customers that retailers serve.
Consider that in 1997, the inaugural year of this report,
today’s average Amazon Prime customer was just
16 years old, AOL was pioneering social media, and
handheld virtual pets were the hottest-selling toys.
Today, handheld (or wearable) digital devices are
ubiquitous and a younger, social customer has come of
age. We are living in an era where customers are in the
driver’s seat more than ever before and they are craving
authenticity, newness, convenience, and creativity. We
are living in the customer-driven economy.
Reclaimism: Aspirational Consumers and Emerging TrendsSustainable Brands
The rise of localism, the DIY movement and collaborative consumption business models are corollaries to the trend BBMG calls reclaimism, part of an emerging ecosystem of products, services and experiences that make it easier to live well and do good. Big brands are taking notice, too, recognizing the trend as a key signifier of Aspirational consumers, a fast-growing segment that refuses to compromise and wants to unite style and status with social purpose. This snapshot brings the trend to life by articulating its key themes, providing related brand examples, consumer stories and clear takeaways for today’s forward-thinking brands.
This document provides an overview of the Macy's department store company including a brief history, business model, organizational structure, and SWOT analysis. Macy's was founded in 1858 and is known for its flagship store in New York City and the annual Macy's Thanksgiving Day Parade. The company operates over 800 stores across the US and employs over 175,000 people. It generates revenue through its business-to-customer retail model selling a variety of brand name products. The organizational structure consists of divisions, regional leadership, and corporate oversight. A SWOT analysis identifies Macy's strengths in branding and advertising but also weaknesses such as declining profits and lack of diversification.
Malls were once dominant symbols of communities but are now in decline. Shopping malls are seeing decreased attendance as online shopping rises and consumer habits change. The author visited a local mall, Eastern Hills Mall, and found mostly empty parking lots and closed stores. However, on a recent weekend for Christmas shopping the lot was fuller. To survive, malls may need to reinvent themselves as multi-purpose community centers with services beyond just shopping.
The document summarizes retail trends among Chinese youth in 2010. Key trends included: (1) Social media sites that allowed youth to see others' opinions on products and make shopping social; (2) New experiential retail environments like kids hair salons and playgrounds that sparked children's imaginations; and (3) Chinese brands gaining prominence and launching new concept stores both domestically and abroad to target Chinese consumers. Flash sales, mobile payments, and bringing online features to physical stores were also trends seen in 2010.
Econ Project - Victorias secret power pointbwellington
Victoria's Secret markets bras and underwear to appeal to younger generations. It has over 1,000 stores for easy access and catalogs/websites for at-home purchases. While it faces competition from other brands, opportunities exist to expand into new markets and lines. However, sales can decrease due to weather, prices, or controversies. The document discusses creating a holiday line targeting the 2013 Christmas season to become the top selling collection and sell 1 million items by 2014. Marketing strategies include fashion show endorsements and pricing items high initially with coupons.
The Luxury Institute provides trends for the upcoming year. However, the economic crisis will impact the luxury industry in several ways. Fewer "mass consumers" and declines in wealth even among the rich will decrease luxury spending. But strong brands should invest during downturns to position themselves for long term success. Younger generations and mobile technology will also increasingly influence the industry. As the economy worsens, price and value will matter more to consumers. Philanthropy and corporate social responsibility will also become more important for building brand reputation. Classic luxury can coexist with selective indulgence guided by trusted advisors. Trust, authentication, and validation will be more important to consumers in making purchasing decisions.
The document introduces the 6 P's of Luxury Marketing framework, which includes People, Product, Passion, Pleasure, Purpose, and Price. It argues that luxury marketers need to take a more nuanced approach that recognizes diversity among luxury consumers. The 6 P's framework allows marketers to understand consumers beyond basic demographics and build longer-lasting relationships. Each P encompasses an important aspect of how luxury consumers experience and interact with brands.
The document summarizes news about Lisa Robin Jewelry and their recognition as a Copper Circle Finalist in a national jewelry design competition. It also provides information about Warner Box & Display's online specials, upcoming trade shows and new products.
Digital marketing strategy victoria's secretRoshni Rajan
This document provides a digital marketing strategy for Victoria's Secret. It begins with an overview of Victoria's Secret as a brand and analysis showing declining sales. Competitors like Aerie, La Senza and Third Love are growing. The strategy proposes generating more online sales and social media engagement through SEO, Google Shopping campaigns, social media, email marketing and improving the customer experience. Personas of target customers are provided along with goals, metrics and tactics for each channel through 2019 to increase sales and loyalty.
Ten very special things, The worlds' most interesting storeUllash Tiwari
Ten Very Special Things is an online store that sells collectibles and objects of obsession, with profits donated to charity. It allows people to convert possessions into donations for their favorite cause. Items for sale include limited editions, cult brands, and objects with notable histories or owners. Donors choose the charity that receives a portion of the sale price and get promotional benefits. The store aims to connect individuals, businesses and charities through ecommerce in a novel way.
Etsy is an online marketplace that allows crafters, artists, and collectors to sell handmade and vintage goods. It was launched in 2005 by a small company as a place for unique items. Sellers can create shops to sell a variety of products for a fee of 3.5% per listing. Buyers can browse categories or search for items and add them to a cart for checkout. The site also allows users to personalize their experience by selecting interests and connect with others through following friends' accounts.
Victoria's Secret is the largest lingerie retailer in the United States, founded in 1977. It grew successful by targeting female customers and releasing a wide variety of products. However, it now faces challenges from competitors offering cheaper alternatives and changing customer preferences. To adapt, Victoria's Secret should move away from outdated concepts like angels and focus more on understanding today's women through improved customer research.
Leslie Wexner bought Victoria's Secret in 1982 for $1 million after noticing the brand's potential while shopping in one of their stores. He implemented a direct marketing strategy focused on appealing to female customers through catalogs, television commercials, and annual fashion shows featuring top supermodels. This helped transform Victoria's Secret into a multi-billion dollar company with over 1,000 stores worldwide known for making women feel confident and sexy through high-quality lingerie associated with celebrity models. To continue growing, Victoria's Secret seeks feedback from loyal customers and follows fashion trends while maintaining and expanding its customer database through various digital marketing channels.
The document discusses the relationship between Italian consumers and luxury goods. It provides background on luxury goods and how they differ from necessity goods. Despite economic downturns, the luxury goods market has continued to thrive in Italy due to traditional Italian values that associate luxury goods with high social status. The document explores Italian attitudes toward counterfeit luxury goods and how surveys can provide insights into consumer behavior regarding luxury brands. It outlines the researcher's plan to conduct primary and secondary research on this topic through consumer surveys and a business profile to understand the luxury market.
Victoria's Secret was founded in 1977 and acquired by Limited Brands in 1982. Limited Brands transformed Victoria's Secret into a brand for women's intimate apparel. Victoria's Secret now has over 1,000 stores in the US and targets middle-aged women ages 20-40. It also has a younger-focused line called PINK. Victoria's Secret uses extensive marketing including its annual fashion show, print catalogues, and social media to promote its brands. While very successful, it also faces criticism for sexualizing young women.
1) The Tom's store in Austin, Texas creates a memorable experience for customers through its emphasis on community and culture.
2) The store goes beyond just selling products by telling the story of Tom's philanthropic mission and impact through displays about the communities it helps.
3) Customers are made to feel like they are participating in a community rather than just shopping, with outdoor spaces that allow people to gather and connect over Tom's message of social change.
The document analyzes the partnership between Etsy and Macy's, suggesting opportunities for growth. It recommends focusing on the Etsy seller Layered & Long, which specializes in personalized jewelry popular among female millennials. A marketing campaign and product assortment is proposed to optimize the partnership by creating a personalized experience for customers and expressing individual style through customizable jewelry pieces.
This document discusses how various retailers are innovating their brick-and-mortar store experiences to attract customers. It provides examples of brands like & Other Stories, Anthropologie, Billy Reid, MiniLuxe, Blue Nile, Warby Parker, Bonobos, Alo Yoga, Eataly, Wally's, Tesla and Ford that are enhancing the in-store experience through brand storytelling, customized services, events, and interactive spaces. The document also discusses how online retailers are opening physical stores to benefit from omnichannel shopping and address customers who want to touch and see products before buying.
Lacey Couture Designs Marketing Plan Part ALori Tantawi
Lacey Couture Jewelry aims to provide affordable, unique jewelry designs through their location in the Exagere' Art Gallery in New Orleans. Their target audience is women aged 24-35. They will implement a digital marketing campaign with goals of increasing brand awareness and sales through social media, promotions, advertising, and email marketing. Over the one year campaign, they aim to gain 1,000 social media followers, increase holiday sales by 50%, feature their designs on 8 of 15 billboards, and grow their email list to 800 subscribers.
The following paper offers a glimpse into what retailing will look like in 2020 and outlines the implications for retailers today. In order to succeed, retailers will have to rethink their strategies and their points of differentiation; the customers of 2020 will require it.
The luxury goods market saw significant declines during the recession but has since recovered, though consumer behaviors have changed. Younger consumers expect more experiential luxury rather than material goods, and emerging markets like China are growing in importance. For luxury retailers to succeed, they must manage their brand portfolios strategically, capitalize on growth markets, engage consumers through new channels, address counterfeiting, and leverage technology to enhance the customer experience.
This report marks the 20th year of identifying
the 250 largest retailers around the world and
analyzing their performance across geographies,
sectors, and channels.
Over the last 20 years we have seen a seismic shift
in retail and the customers that retailers serve.
Consider that in 1997, the inaugural year of this report,
today’s average Amazon Prime customer was just
16 years old, AOL was pioneering social media, and
handheld virtual pets were the hottest-selling toys.
Today, handheld (or wearable) digital devices are
ubiquitous and a younger, social customer has come of
age. We are living in an era where customers are in the
driver’s seat more than ever before and they are craving
authenticity, newness, convenience, and creativity. We
are living in the customer-driven economy.
Reclaimism: Aspirational Consumers and Emerging TrendsSustainable Brands
The rise of localism, the DIY movement and collaborative consumption business models are corollaries to the trend BBMG calls reclaimism, part of an emerging ecosystem of products, services and experiences that make it easier to live well and do good. Big brands are taking notice, too, recognizing the trend as a key signifier of Aspirational consumers, a fast-growing segment that refuses to compromise and wants to unite style and status with social purpose. This snapshot brings the trend to life by articulating its key themes, providing related brand examples, consumer stories and clear takeaways for today’s forward-thinking brands.
This document provides an overview and analysis of Etsy, an online marketplace for handmade and vintage goods. It discusses Etsy's history, strengths, weaknesses, opportunities, threats, target market, competitors, goals, and objectives. An integrated marketing plan is then proposed to increase awareness of the Etsy brand among males and achieve objectives of growing visits, sales, and male sellers by the end of 2016. The plan incorporates advertising, promotions, digital marketing, publicity, public relations, and personal selling tactics such as sponsored ads, member discounts, pop-up shops, festival sponsorships, and educational conventions.
The document provides an overview of industry and company trends for Macy's. Regarding industry trends, it notes that traditional retail shopping is declining while value-oriented stores and online shopping are growing in popularity. For Macy's specifically, it states that while other brands have seen positive sales growth and increased customer traffic, Macy's has experienced declining sales and foot traffic. It also summarizes that Macy's current marketing messages do not tie together well and make the brand feel remote and non-inclusive. Competitive analysis shows that Macy's needs a unique communication strategy to distinguish itself from competitors. The solution proposed focuses a new concept on highlighting Macy's long history and role in consumers' lives from events to sales,
Guide | How Jewelry Retailers can Connect with Millennial ShoppersRaymark
The largest generation in history is about to move into its prime spending years. Millennials are going to reshape the jewelry industry; their unique experiences will change consumer behavior, forcing jewelry retailers to examine how they do business for decades to come.
In this exclusive guide, you will learn about:
• Who are the Millennials? And what do they really want?
• Millennial views on luxury
• The impact of social media
• Software tools to reach Millennials
Macy's will partner with The Dream Builders Project for its 10th annual "Shop For A Cause" charity shopping event on August 29, 2015. Macy's "Shop For A Cause" event allows customers to purchase shopping passes from charities to support their fundraising efforts. The Dream Builders Project will sell $5 shopping passes and keep 100% of the proceeds to support their organization and causes. Purchasing a pass allows customers to shop with discounts at Macy's while supporting The Dream Builders Project's mission of aiding social issues in Los Angeles.
The document examines the cultural space of large suburban shopping malls in the United States, using Mall of America as the primary example. It discusses how malls are represented in both academic and non-academic sources as entertainment destinations that cater to various consumer needs. The document also covers the production, consumption, and identity aspects of malls, highlighting how they are tied to concepts of community, consumerism, and different demographic groups. Some challenges in the analysis are explaining malls' enduring popularity and confinement of the production discussion to standard mall design.
Artistii analyzes the opportunity to connect artisans globally through an e-commerce marketplace. The market for handcrafts sold online is growing as interest increases in sustainable lifestyles and purchasing unique, culturally significant pieces. Research found strong demand for learning about the stories and traditions behind crafts. However, some customers prefer experiencing crafts in person. Competitors in this space include Etsy and Novica, but Artistii aims to better facilitate direct communication between remote artisans and customers. Market research through interviews and surveys provided insights into customer preferences that will help Artistii tailor its offering.
Moosejaw is an outdoor apparel and gear retailer founded in 1992. They have physical stores located in Michigan and several other states, as well as an online store. Their target demographic is a younger, tech-savvy audience interested in outdoor activities. Moosejaw engages customers through social media promotions like "Moosejaw Madness" and giving away prizes. Their top-selling items are men's sweaters, pullovers, and knits made of synthetic fibers. While they resell major brands, Moosejaw also sells their own label. Their main competitors are Dick's Sporting Goods, REI, and The North Face, though Moosejaw has a stronger social media presence
Luxury retailer Harvey Nichols asked a training company to develop new materials to train their Sales Advisors on customer service and selling techniques. The training company created a magazine called "Beyond Expectations" that looks like a fashion magazine and contains activities and articles on fashion history and designers. They also produce seasonal supplements and are developing a board game to accompany the face-to-face training. The goal is to create an interesting way to train and communicate with Sales Advisors.
Alex and Ani aims to increase emotional connection with consumers through its emphasis on locally made, eco-friendly jewelry with symbolic charms. It targets young urban women interested in fashion and self-expression through symbolism. While known for its quality, Alex and Ani should emphasize its affordability relative to competitors. Objectives include strengthening brand identity beyond aesthetics by highlighting its philanthropic efforts and meaningful charms. Advertising should maintain a simple tone reflecting the brand's personality and focus on style, quality, and symbolism.
Luxury brands are struggling to attract younger consumers like millennials who have different spending habits than older generations. Millennials prioritize experiences over ownership and are more influenced by social media than in-store salespeople. As a result, luxury brands need to shift their marketing strategies to focus on personalization, customization, and digital touchpoints to engage this new type of luxury consumer. They must use technologies like predictive analytics and big data to better understand customer profiles and behaviors in order to inspire discovery and drive sales through personalized experiences online and in stores.
This document summarizes a student's photowalk project exploring how malls have adapted to changing consumer shopping behaviors. The student photographed areas of declining attendance and empty storefronts at a local mall. However, the mall has attempted to attract niche retailers targeting local interests to replace mainstream stores struggling with the rise of online shopping. While some stores catering to pop culture and loyal customer bases have survived, the near-empty state of the mall calls into question how much longer it can last without more customers.
This presentation was created by my daughter who's a senior in High School. This plan was prepared for her involvement in DECA, which prepares emerging leaders and entrepreneurs in marketing, finance, hospitality and management in high schools and colleges around the globe. The Giving Keys staff was not involved in the preparation of this plan.
#IntegratedMarketing #thegivingkeys #digitalstrategy #deca
Rosemarie Collections is an online retailer of jewelry and accessories based in the United States. They currently generate $250,000 in annual sales primarily through their Amazon store. The presentation analyzes Rosemarie Collections' social media presence on Facebook, Instagram and Pinterest and compares it to competitors. It identifies opportunities to bolster their social media engagement and transition customers to their new website as Amazon closes some stores. The goals are to expand product lines and market the brand for celebrating occasions.
1. Merchandising & Marketing
Summary: An opportunity for Macy’s involving the
sustainability & healing properties of crystal jewelry sold
in the Etsy Shop: Vermeer Jewellery.
2. 1
PART 1-
SWOT Analysis: The following information is a SWOT analysis of Macy’s and Etsy in regards
to their partnership. This SWOT analysis will identify each of the company’s individual
strengths, weaknesses, opportunities and threats and how they relate to the success of the overall
partnership.
Ø Macy’s (Hoovers 2016)
Strengths
v Flagship store one of most visited
tourist locations (20 million annually)
v Etsy shop refreshed with new product
every 6-8 weeks
v Pop-up shop focused on an experience
rather than a place to simply purchase
Weaknesses
v Closing 100 brick and mortar
locations hindering partner expansion
v Negative perception of traditional
department store retail experience
Opportunities
v Ability to support independent
designers and help them grow
v Appeal to a new customer base that
appreciates sustainable practices
Threats
v Limiting buyer assortment to
stationery, jewelry and homeware
v Disinterest of shoppers due to
traditional brick and mortar retail
experience
Ø Etsy (Etsy 2016)
Strengths
v Operate through the Etsy Wholesale
Retailer Commitments agreement
v 36 million items for sale from 1.7
million active sellers and 26.1 active
buyers
v Low commission and listing fees
(3.5% and 20 cents respectively)
Weaknesses
v Most sellers have no official staff to
oversee logistics and compliance with
vendor restrictions
v More than 30 million items listed
making searches more challenging
Opportunities
v Offering a global retail stage for Etsy
sellers with simultaneously interesting
and new product experience for
customers
v Exposure to global customers
shopping at Macy’s stores
Threats
v Entrance of new competitor Amazon
“Handmade”
v Caused Etsy stock to drop 43%
v Goods made on demand, meaning
sellers can’t meet strict shipping
deadlines
Analysis: Etsy, a social ecommerce website that focuses on handmade items including but not
limited to art, jewelry, homeware and clothing was launched in 2005. Today they offer over 40
million items for sale, amassing $2.39 billion in annual gross merchandise sales (Etsy 2016).
Most recently they have partnered with America’s largest department store chain, Macy’s, to
3. 2
bring their online merchant platform to the brick and mortar sector of retail. This partnership,
announced in November of 2015, launched Etsy into an environment that accommodates more
than 20 million visitors annually. The Macy’s Herald Square location is one of the most popular
tourist destinations in New York and the largest Macy’s store in the company, automatically
increasing Etsy’s exposure to prospective customers.
One of Etsy’s biggest strengths is the way it caters to its diversity of buyers. It does this
through mass individualism by managing to maintain a one-on-one relationship with its
customers, addressing their individual needs. In comparison, a larger company like Macy’s may
struggle with achieving mass individualism because it lacks a direct connection with individual
customers on a personal level. It instead caters to the mass market through segmentation and
self-selection.
However, Macy’s recognizes the growing spending power of Millennials and the need to
creatively target such a prominent and evolving generation. With this thought in mind, they
introduced the transformed basement of their flagship store as the new “One Below” floor,
specifically catered to Millennials and the shopping experience they crave recognizing that
experience is key. As stated by Macy’s, “One Below” is a 53,000 square foot area designed to
fulfill every Millennial’s desire, featuring brands popular with the age group such as wearable
technology brand Fitbit and a 3D printing shop to personalize phone cases and jewelry. They
have also incorporated an Instagram wall for social media selfies, bright eye catching ornaments
littered throughout the space and loud popular music (Lindsey 2015).
Despite this earnest attempt by Macy’s to rebrand themselves primarily in the presence of
Millennials, and secondly in Generation Z, many critics of the “One Below” floor have emerged.
Even though the “One Below” concept will slowly be incorporated into Macy’s stores across the
4. 3
nation, the fact of the matter remains that in order for the target customer to see the display, they
still have to walk into a Macy’s. For most of the younger generations, walking into Macy’s
comes with a negative connotation: Macy’s is where their parents shop. The department store has
been described by Ryan Mathews, CEO of Black Monk Consulting, as “Nothing screams un-hip
more than faux authenticity and nothing doesn’t sell more than generational patronization.”
(Lindsey 2016)
Although Etsy has established strengths in gaining customers through its niche
merchandise, it has begun to struggle with maintaining trust with customers. Many Etsy shop
owners have chosen to outsource the production of their products, cheapening the overall quality
and angering the end consumer. Today’s movement toward minimalism and returning to a more
natural, transparent state has given rise to Millennials moving away from materialism and more
toward expressing their true identity and personal brand (Elite Daily 2015). Growing up during
the Great Recession and a time when a brand’s transparency is more important than the luxury of
it, Millennials are constantly bombarded with information and are seeking simplicity. To view
this trend on the market today, popular brands such as Apple and Levi’s appeal to user efficiency
and a back to the basics attitude, characteristics attractive to younger generations (Futurecast
2016). Recycling and the concept of vintage are hot on the market as is “upcycling,” the
repurposing of discarded material to create a product of high quality or value (McCray 2013).
Therefore, the end-use customer for the Macy’s X Etsy partnership is a consumer
interested in the concept surrounding sustainability. These are the people interested in consuming
products part of a system which can be supported indefinitely in terms of human impact and the
environment. This also ties into Etsy’s culture as a self-sustaining ecosystem of independent
artists. Millennials are on track to have the most buying power of any generation with over $200
5. 4
billion and 75% of the total 80 million Millennials expect a company/brand to give back to
society rather than solely being focused on making a profit (Schwabul 2015). As said by Grace
Farraj, the SVP of Public Development & Sustainability at Nielsen, “Brands that establish a
reputation for environmental stewardship among today’s youngest consumers have an
opportunity to not only grow market share but built loyalty among the power-spending
Millennials of tomorrow.” (Nielsen 2015) Macy’s has already begun targeting Millennials after a
poor fourth quarter sales report following the 2015 holiday season as it attempts to target a
younger demographic and adapt to the rapidly changing retail industry.
One of Etsy’s most lucrative market categories to date is jewelry. In fact, its ten top
sellers on the website in 2015 were stores selling some form of jewelry such as beads, charms, or
custom made pieces. The top ten Etsy shops have a combined revenue stream of nearly $3
million (Roy 2015). Taking a look at the European runways from fall fashion week and
predicting accessory trends in Fall/Winter 2016/17, we see designers such as Proenza Schouler,
Calvin Klein Collection, Roberto Cavalli and Alexander McQueen. These and many more are
showing raw stones, asymmetrical earrings, Talisman jewelry, oversized chokers, statement
necklaces and a Baroque revival (Mallard 2016). This creates an opportunity for Macy’s when
choosing the next round of Etsy buyers to feature in the “One Below” floor.
Combining the trends seen on the European runways, those known to eventually disperse
into the mass market, and the growing popularity of sustainability among Millennials and
younger generations, Macy’s X Etsy will benefit from looking into the untapped category of
healing crystals and raw stones. In other words, taking advantage of the successful Etsy category
of jewelry and the Millennial personality to create a new concept where customers of the Macy’s
X Etsy collaboration not only “look good” but “feel good” while wearing the product.
6. 5
PART 2-
New Line Success: An untapped segment in the Macy’s X Etsy partnership is jewelry
incorporating crystals, stones and metalwork that is ethically sourced and produced in a
sustainable manner. Crystal jewelry has been around since the Ancient Egyptian Era and was
worn for its healing power and ability to ward off evil spirits. Crystals reemerged in the 1980s
during the New Age movement where they were emphasized for their healing properties and
benefits (Laderer 2014). In the present, crystal healing is a form of alternative medicine but also
a jewelry trend as people are becoming aware of their names and usages. Raw and polished
stones are being wrapped in wire, placed on rings, strung on necklaces, attached to bracelets and
dipped in metals for a completely personalized look.
For styling purposes, they can be a source of solitary shine for the minimalist Millennial,
but also layered for a Bohemian look. With this in mind, I recommend Etsy seller Vermeer
Jewellery, a handmade crystal jewelry shop that began its merchandise in 2012. This product will
fill the void in Macy’s assortment because of its uniqueness in regards to the sellers and products
that have already been featured, including Sol del Sur’s metal textiles, Meera Lee Patel’s original
illustrations/prints, and Modern Mud’s ceramics (Mauriello 2016). Not only is Vermeer
Jewellery’s category of crystal jewelry an untapped one for Macy’s, it also aligns with two
emerging jewelry trends of 2017, easy-trans-form---the versatility of jewelry to reflect moods
and styles and self-art---self-expression through jewelry (Global Sources 2016). These are also
strengths that match the target audience of Etsy buyers as they seek wearable, customizable art.
Most importantly though, because Vermeer’s product selection incorporates crystals such as
amethyst and rose quartz, wearers of the crystals can experience feelings such as calmness and
romance in addition to looking fashionable (See appendix for pictures of product).
7. 6
Launch Plan: Jewelry incorporating crystals with the added benefit of healing properties may be
a trend already popular with consumers and even celebrities, but it is a new market for Macy’s
and their end consumer. Because of this, it is imperative that Macy’s launch plan successfully
promote the story behind the Vermeer Jewellery shop and its message of elegant simplicity.
The tagline for the launch, will be “Promoting jewelry that fulfills the Proph-Etsy
between Fashion and Sustainability.” The assortment will vary depending on the volume of the
Macy’s store, with higher revenue locations such as medium size stores focusing on bestsellers
within the collection and smaller, more niche stores having an assortment tailored to each
geographic consumer. Beginning with the medium size locations, jewelry including raw crystal
necklaces, raw quartz earrings, prehnite wire wrapped bracelets, solitaire crystal bracelets and
the adjustable agate rings will be featured in the merchandising selection. Since all these pieces
are customizable with stone and color variety, every purchase will be unique to that customer
and one-of-a-kind in the sense that there will never be a crystal quite like the one they have
chosen. For smaller stores, such as those in California with a target consumer that is attracted to
a more relaxing and lighthearted lifestyle, jewelry incorporating crystals such as amethyst which
promotes calmness and citrine which promotes happiness will be weaved into necklaces,
bracelets, rings and earrings. The purpose of this is to tailor the assortment of each smaller store
to the personality and lifestyle traits of their respective end consumer to best serve their needs.
The flagship store will have the largest and most diverse selection of jewelry as this is the
discovery hub and “retailtainment” platform for the brand. In order to maximize the number of
interested consumers, strategies that utilize ambience, emotion, sound and activity will be
enacted to get prospective customers in the mood to buy. Currently Etsy products are displayed
inside large wooden drawers on the “One Below” floor, however with the introduction of
8. 7
Vermeer Jewellery, individual hollow cubes (inspired by the Instagram cubes at the Magnum
flagship store in SoHo) will hold the product in varying creative setups that display the jewelry
in an environment that is already structured to take pictures [See appendix]. Because of these
aesthetically pleasing mini set displays, Millennials will be tempted to photograph the
merchandise, upload the content to social media and then proceed to purchase the product.
Rather than having flashy light ornaments, elegant chandeliers will hang from the ceiling
projecting clear white light; ideal for taking pictures. Some of the jewelry featured in the Etsy
section of the “One Below” floor, will include the newest releases such as the raw quartz
necklace, gold-coated galaxy blue agate bracelet and rainbow fluorite necklace. Staying true to
the theme of “retailtainment” and maximizing the small space allotted to the Etsy section of the
store, Oculus Rift goggles will be introduced for customers to wear so they can virtually
experience the effects of crystals and the positive feelings that result from wearing them.
Finally, Macy’s has developed and implemented a new technological advantage for its
stores that involves the use of Bluetooth Low Energy (BLE) beacons (Roberts 2015). These
invisible mechanisms can sense when a customer has entered the physical store and then uses a
signal to access the consumer’s Macys.com search history. The beacon can then create a
personalized promotion and send it directly to the shopper’s smartphone to be used in the store.
This personalized offer motivates customers to purchase and directly leads them to the
specialized promotion of the desired product by following in-store navigation.
Marketing Plan: From the inception of her Etsy Shop in 2012, Cherry of Vermeer Jewellery has
always emphasized why she uses crystals. She says “Each stone has its own pattern, shape, and
color. I think they are so unique; therefore, I focus on crystals rather than other types of jewelry.”
Hence, it is vital that excitement be created around the launch of this shop to inform prospective
9. 8
customers about the versatility of the entire collection. The goal is to present a reason as to why
the sustainable nature of this newly launched line is superior to what is already on the market.
A month before the launch of Vermeer’s crystal jewelry at Macy’s “One Below” floor,
primary advertisements will be placed on social media sites including Facebook, Instagram,
Snapchat and YouTube. However rather than using traditional advertising media such as
magazine editorials, the campaign will be led by social media influencers, specifically those that
promote the use of healing crystals and enjoy wearing crystal jewelry. Millennials are more
heavily influenced by word-of-mouth recommendations and respond better to subliminal product
placements produced by bloggers and celebrities through various channels of social media. In
fact, independent fashion blogger Chiara Ferragni has garnered as much influence as Vogue, a
one-hundred-year old fashion powerhouse with her 3.2 million followers (Bilkova 2015).
With the focus being on social media due to the amount of Millennial traffic, no print
advertisements will be used. Rather than displaying an ad in the pages of a traditional fashion
magazine such as Vogue or Glamour, this media will instead be placed online in a concise blog
article format that can easily be accessed while surfing social media sites. Using clickbait
oriented headlines inspired by Buzzfeed news, titles such as the following will appear on the
user’s feed based on their search history and whether they are a follower of the media vehicle:
“What crystal is missing from your life?”, “Is it love or rose quartz in the air?”, “How to
transform your look into a feeling,” and “What celebrity can’t sing without holding her
crystals?!” By clicking on these short articles and quizzes, users can share their results through
their feed so that their friends gain exposure to the content and brand message at the same time.
In today’s day and age where YouTube vloggers hold the most authority for word-of-
mouth recommendations, it is imperative that this platform be used to gain hype for Vermeer
10. 9
Jewellery and the Macy’s X Etsy partnership. Content creators such as Carli Bybel, Fleur
DeForce, and Bethany Mota are highly regarded for their opinions on fashion, beauty, and
lifestyle topics with over 16 million subscribers. Their channels will be used to facilitate the
process of explaining of how to accessorize with crystal jewelry through video look books and
how to utilize specific crystals to improve positivity and state of mind. In fact, Cherry, creator of
Vermeer Jewellery, responded in an interview regarding why she enjoys creating with crystals
saying “I’m really interested in merging the stone with the aesthetic quality associated with
fashion.” This message could be shared to subscribers, motivating them to adopt the trend. What
makes this channel so effective is its ability to not come across as a directly sponsored ad, but
rather as a trusted friend genuinely talking about a product and how it plays into their lifestyle.
To cater to those with a short attention span, campaigns will run on Instagram and
Snapchat utilizing user generated content. The focus of this campaign will be on celebrating the
connection between the uniqueness of each crystal in the jewelry to the individual personality of
each customer/wearer. Millennials will be able to take selfies and upload them to their Instagram
accounts using the hashtag #FeelVermeer as a play on the premiere feeling one obtains through
wearing Vermeer Jewellery. On Snapchat, users can post snaps of themselves wearing their
favorite stones enhanced with daily filters offered by the app. Celebrities like the Kardashian
sisters have already amassed a large following of impressionable Millennials on Snapchat and
because of their usage of healing crystals could become influencers (Boscamp 2016).
Financial Plan: With Macy’s operating heavily with the use of promotions, it is important that
the prices per unit and expected sales be adjusted to fit this discount-oriented model. This plan
takes into consideration that the LPOS is generally in November and December when Macy’s is
expected to gain the most revenue from a FOB like costume jewelry [See appendix].
11. 10
Financial
Plan
Aug-17 Sept-17 Oct-17 Nov-17 Dec-17 Jan-18
Expected
Sales
$180,000 $120,000 $120,000 $360,000 $360,000 $60,000
Receipts $162,000 $108,000 $108,000 $324,000 $324,000 $54,000
Profit
Margin
38.85% 38.85% 38.85% 40.30% 40.30% 37.50%
Inventory
(OH units)
51,000 45,000 39,000 21,000 3,000 0
Scaling/Liquidation: Should Vermeer Jewellery become successful Macy’s could scale this
shop by expanding the collection to more Macy’s stores. They could then be marketed for their
layering abilities with some of the other accessory brands already offered such as I.N.C. Because
Millennials primarily shop online, the Etsy shops in stores would transform into more of a
“showroom” for shoppers to experience the tangible product before going to Macy’s online to
actually customize their jewelry and make the purchase. Links to the jewelry will also be added
to social media sites such as Pinterest and Instagram to increase customer viewership and ease of
purchase, while still bringing people into Macy’s stores to see the product firsthand.
Since the jewelry is sustainable, pieces that need to be liquidated can be returned to the
shop creator, Cherry. Here they can either be reassembled, reinvented or upcycled into next
season’s release. This will reduce material costs per piece, while limiting the amount of waste
produced by disposing the unsold inventory. The question arises that perhaps a certain color of
stone or type of crystal may not be in style at the end of a season, however since crystals can be
arranged multiple ways and have varying levels of cut and opacity, no one piece is really the
same as the last. Crystals remain eternal because although the overall look may change, the
feeling one gets from wearing them is everlasting. Even if the wearer doesn’t necessarily believe
in their healing properties, a placebo effect still occurs causing the wearer to experience an
increased feeling of overall well-being (Palermo 2015).
12. 11
Appendix:
Part 2-
Pictures of some of the crystal jewelry created and sold at Vermeer Jewellery: (Etsy 2016)
Picture references from Magnum Flagship Store in SoHo, New York: (Sanabria, 2016)
13. 12
Primary Source: Personal Interview with the creator of Vermeer Jewellery: Cherry N
1. What attracted you to crystal jewelry as opposed to other types of jewelry?
I love crystals because they are one of a kind. Each stone has its own pattern, shape, and
color. I think they are so unique; therefore, I focus on crystals rather than other types of
jewelry.
2. Because you use crystals and more specifically crystals that also have healing
properties such as amethyst and agate, is that something that interests you or is
important to you, or is this just a coincidence?
I am concerned with the healing purpose of crystals, but more important to me is the
beauty of the crystal. I’m really interested in merging the stone with the aesthetic quality
associated with fashion. That is what excites me!
3. Are you aware of the idea of sustainability and is it important to you? For example,
using recycled metals or ethically sourcing your materials such as the crystals?
I am aware of the idea of sustainability. For example, I reuse packing materials and use
recycled crystals as seen in the small raw crystal studs I sell at my Etsy shop.
4. Would you be interested in using a platform like Macy’s to sell your jewelry? I saw
on your Etsy page that you would be interested in wholesale.
I haven’t tried Macy’s before but I am definitely interested in exploring the opportunity
within wholesale.
5. Is there anything else that you would like to tell me about your product, such as the
inspiration behind it that might help me with constructing a marketing campaign?
Etsy is a great venue for me to in terms of turning my dream into a tangible reality. I am
so happy and fortunate that I have had successful progress in the past few years. My
14. 13
inspiration comes from my anthropological background. I love understanding different
cultures and I make sure to use these ideas in my jewelry creations.
Breakdown of Financials: Model based off of a wholesale buy of 60,000 units to be sold over a
6-month period.
Item Name Bulk Price Units Per Unit
Wholesale
Sale Price Potential Profit
Raw Crystal
Necklace
$15,000 5,000 $3.00 $15.00 $75,000
Gold Raw Agate
Necklace
$35,000 5,000 $7.00 $30.00 $150,000
Rainbow Titanium
Necklace
$25,000 5,000 $5.00 $25.00 $125,000
Raw Crystal
Earrings
$15,000 5,000 $3.00 $15.00 $75,000
Chrysocolla Earrings $15,000 5,000 $3.00 $15.00 $75,000
Raw Quartz
Earrings
$15,000 5,000 $3.00 $15.00 $75,000
Swarovski Crystal
Dainty Ring
$12,500 5,000 $2.50 $15.00 $75,000
Druzy Agate Ring $25,000 5,000 $5.00 $25.00 $125,000
Amazonite Wire-
Wrapped Bracelet
$20,000 5,000 $4.00 $20.00 $100,000
Raw Crystal Bracelet $15,000 5,000 $6.00 $15.00 $75,000
Amethyst Crystal
Bracelet
$30,000 5,000 $6.00 $25.00 $125,000
Citrine Hair Comb $40,000 5,000 $8.00 $25.00 $125,000
Total $262,500 60,000 ------------- -------------- $1,200,000
*August evaluated at 15% of total units and potential profit, September at 10%, October at 10%,
November and December at 30% each, and January at 5%
15. 14
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