kelley snodgrass christina dumas nicole butcher. shopping website – new wave of e-commerce –...
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Kelley SnodgrassChristina DumasNicole Butcher
Shopping Website – New wave of e-commerce
– Making Shopping More social!
Specializes in vintage clothes & items made by independent
designers– Flirty dresses– Vintage blouses– Stylish Accessories
-Founded in 2002 by Eric and Susan Kroger
-Originally sold only vintage items-In 2006, expanded and began offering vintage-inspired clothing by indie designers from all over the world
-Became profitable in 2009 after four back-to-back years 600% annual growth
- ModCloth has now grown into a thriving business of over 100 employees, yet the small business feel still remains
History
Modcloth’s Target Market•Young women in the age range of 15- 25, their core market is in their 20s
•Have a sense of retro indie/vintage style, wanting to have a one of a kind style
•Independent women looking to create their own style
•Technology savvy- use twitter/ Facebook
Strengths• Ease of use
– Free Returns, quick Exchanges– Great resources on website
• Social Shopping Community– Active Facebook– Stylists– Shoppers name, describe, and
review products– App for I-phone– Live Support– Let customers decide what they sell
• Quick turnover
http://www.facebook.com/search/?q=&init=quick&tas=0.460334957524683#!/ModCloth
Social Media•Facebook: 58,000 followers•Twitter: 21,000 followers•ModLife Blog•Be The Buyer•Name It to Win It
•Minimal
Advertising
•No retail
locations
•New Company
•Strong
Competition
Weaknesses
• Modcloth’s overall goal is to change the fashion industry!
• Currently just an online store now, but in the future have retail stores throughout the country
• Generate a well known logo for the company
Opportunities
ThreatsCompetition includes retailers offering trendy,
moderately priced apparel & jewelry and/or home décor
• Urban Outfitters • Forever21 • Anthropologie
http://articles.sfgate.com/2010-07-07/business/21940422_1_customers-and-designers-social-media-dead-stock
http://www.facebook.com/search/?q=&init=quick&tas=0.460334957524683#!/ModCloth
http://bits.blogs.nytimes.com/2010/06/30/accel-invests-in-modcloth-a-social-shopping-site/
Modcloth.com
http://www.prnewswire.com/news-releases/modclothcom-raises-198-million-in-series-b-led-by-accel-97532159.html
http://www.pittsburghlive.com/x/pittsburghtrib/lifestyles/fashion/s_622026.html
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