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Industry Analysis and Outlook - Essay Example

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Industry Analysis and outlook: Custom wear are rapidly getting in demand. Offered mostly through highly personalized and functional website, custom wear clothing websites are attracting a lot of traffic. These websites are playing a vital role in the development of e-commerce (company facilitating the buying of a product or service through a website)…
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Industry Analysis and Outlook
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Industry Analysis and Outlook

Download file to see previous pages... Recently, with the advent of globalization and information technology, the e-commerce market has swelled exponentially. Online retail sales are growing 30% annually. The basic reasons for this growth are: convenience, information sharing, and personalization. Other historical facts which confirm the growth of this sort of market place are: Euromonitor reported that India will be Asia’s fastest growing market for online travel retail by 2010. Moreover the consumer e-commerce market in India is estimated to cross 90 billion by 2011. So after considering these facts and figures the industry outlook is looking very optimistic. These figures should encourage business to setup online channels to reach their customers. However, some caution is also required when going online. The biggest worry for businesses that went online was the harm this step caused to their relationship with their existing retailers and whole sellers. But a counter strategy is worth developing, and businesses cannot ignore the potential market that can be tapped through the internet. Critical needs of perceived market: Mail Attire is aiming to address the needs of those set of individuals who are office going, and therefore are time starved to concentrate on their office wear. Since they do not have time to lookout for comfortable and stylish office wear, they end up wearing out of fashion and uncomfortable clothes. Here, the company come in; the product offering will address customers need for comfort and look stylish in front of their peers. After thorough research in office wear category, the company has finally reached the conclusion that the comfort problem can be eliminated through precise fitting and measuring of outfit, while the need to look stylish can be satisfied through offering quality fabric. Therefore, the company will work along these dimensions and try to satisfy all our customers. Business Model: Since, the company is committed in providing the customers with comfort and style, and that too without wasting their time. The company is therefore having a brick and mortar business model. To get the accurate body measurements of the customer they would be invited to the company store, where the expert tailor will personally take the body measurements and feed them into the online customer database. Well, after this procedure customers would not have to come back again to the store for body measurements unless they experience a change in the body mass. Having done this, the customer can return home and through the customer-oriented website place an order of his liking and budget, whenever he feel free. In the diversified and highly selective fabric portfolio of the company, customers will find fashionable and comfortable material. After customers have placed an order, the company will take seven working days to deliver the order. Identifying the target market: Initially the company will be targeting the audience of Pittsburgh, Pennsylvania: U.S Census Bureau Figures 2010 Population of Pittsburgh (city), Pennsylvania 305,704 Bachelor's degree or higher, % of persons 33.80% Targeted Working Class 103327.952 This targeted working class will form the probable clientele. General profile of targeted clients: The potential Clients are educated, ...Download file to see next pagesRead More
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