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Ashley Himpel Amy Kulp Frank Sessa Gillian Ware
Table of Contents: Club Monaco x West Elm Technology Implications Operational Considerations 12 Month Implementation Plan SWOT Analysis Our Store Vision Market Overview Competitor Analysis Target Consumer Customer Profile 6 Month Promotional Plan Conclusion
Strategic Initiative: Collaboration between Club Monaco and West Elm to re configure the current store design
Heavy focus on creating a physical representation of the Club Monaco lifestyle
Hone in on emerging trend of "experiences over products"
Starts as a store takeover, would expand to more store locations
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“The key is immersion, intimacy and a sense of brands needing to offer a whole lifestyle.“ -Katie Baron, head of retail at Stylus, an innovation research company
Concealed Technology The notion of using unobtrusive technology in design in order to maximize space and not disrupt the lives of the consumer. Already exists in retail and used by companies like Apple Concealed technology enhances the space, providing wireless or adapted charging, easy access to POS and transaction systems, and mobile access both within the store team and for personal use. We will license out products from Native Union that will seamlessly fit into the store as well as wireless charging ports licensed out from Zens. The uniform speakers throughout the store will be used by Sonos, allowing the controls to be used and changed throughout the day. Our goal is to make the store more customer centered, a hub for conversation and relaxation while being inside a retail store. Partnering with Apple, we will be using the most up to date iPads and systems without associates. Our goal here is to elaborate on our customer engagement sector and not direct the customer towards online but encourage them to remain in the store
First implemented in the Tommy Hilfiger stores, smart tables are one of our main drivers of tech in the store. While keeping these devices at a minimal, it will allow the customers to sit with friends, family or associates in gathering areas .We will use tech from either Planar or LG, based on the pricing we can get from each, given we will source on a large scale. Both of these brands fit within our brand identity and goals for the brand moving forward. We will be incorporating smart tag tech, RFID, and smart tracking to ensure proper merchandise purchasing. We will also be implementing Cloud Tags. These tags will help us understand the wearer better, giving us first-hand knowledge about the wearer and their preferences.
West Elm Benefits: West Elm has taken the initiative to expand into the hospitality market over the span of its initial conception in 2016. As a company, they have seen double digit growth for twenty-six consecutive quarters, and the number has risen since. With having around 10 furniture stores domestically, the brand has not only become a game changer in the furniture industry but also within refining how we think of home. With the launching of its boutique hotels, the brand plans to develop their contemporary, leisure home life and mesh it with the fats paced, on the go lives of its travelers. They want to take away the feeling of being a dreary hotel and become a second home. In doing so they have also collaborated with trusted vacation rental brand, Air BnB. Strategically placing themselves within the younger market that is looking to stay with less expense but also want the luxury experience. Branching out into retail is not a stretch and can boost their brand exposure towards the clientele they are trying to receive.
Operational Considerations: With the introduction of new technology, there is always a need to train the employees. Given that updates are always happening, we will host bi-monthly meetings with tech developers from the promotional companies to equate ourselves with the newest ways of driving business throughout tech retail space. In addition to that we will have to have open lines of communication between our store and the app developers in order for the store to continually run as smooth as possible and perform as its peak potential (even on off days). Our goal is to build a uniform system that seamlessly integrates the holistic views of the companies omni-channel marketing strategy in new and exciting ways . On staff training will be held, mangers will be given the bulk of the training and the trainers who are assigned per store will then be the ones who pass down the information from there, so without hiring outside spectators, the store can run on its current employment structure. One piece of outsource material we will need to hire are personal from the tech agency's to come during the initial inception in order to continuously train and mature the current employees in the updated retail method and ensure prosperous growth.
Implementation Gantt Chart
Market Research and Development Research Consumer Trends Research Furniture Market Meet with tech developers Research Technology Implementation Begin developing products for in-store launch Begin planning with in-store events coordinator Recruit brand ambassadors and influencer’s Recruit new hires for promotion (especially holiday) Create promotional material Test new tech and sound implementations Sale training (and material )for all employees Modified Training for senior employees (driving initiative) Finalize all event logistics for store and event deadlines Begin to post more social and media clips to promote date Begin promotions for clothing and furniture Launch the new flagship store Release complete style guide/ look-book concept
09/06/2018
10/13/2018
11/10/2018
12/18/2018
01/10/2019
02/06/2019
03/05/2019
04/15/2019
05/06/2019
06/15/2019
07/17/2019
08/16/2019
09/08/2019
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Developing more defined customer relationship
Competitive advantage against competitors
Build brand awareness for both companies
Proper transmitting of brand messages
Build brand loyalty through transparency
Effective implementation of ideas and values
Create an inviting and refreshing experience
Customer engagement and excitement
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Opens the door to future collaborations
Shifting into experiencer rather then shopping
In store events leading to increased traffic Capturing more market share through experiential efforts
Larger brand competition Damage control, furniture merchandise Negative reception of new tech implementations (current customer)
Retail Market Overview: Retail industry outlook projects emerging technologies, social commerce, facial recognition for ecommerce point of sale, and virtual reality that transforms the customer retail experience like never before.
The fashion industry is always changing and attempting to adapt to customer trends and to create new experiences for them.
The link between consumer spending and the retail industry becomes more relevant as retail sales attract approximately 30% of total consumer spending in the United States.
The global apparel market is valued at $3 trillion.
Home Retail Market Overview: Valued at nearly $2.3 billion Drivers- increasing disposable income, rising consumer spending, new product innovation and online selling. Immersion, intimacy, and a sense of brands needed to offer a whole lifestyle. Apartment style stores can function as hubs for community building. While apartment stores may hit the mark when it comes to visual merchandising, authenticity and community-building remains core to an effective strategy.storytelling
Apartment by the Line
The Webster
Alex Eagle Studio
Future Competition Direct: IKEA: Worlds largest furniture retailer who initially started mixing retail and home. They have a dining area as well where you can eat. CB2: Furniture and decor for the modern home that is designed to appeal a younger, more design focused customer. Anthropologie: Products consisting of womens apparel and accessories, home furniture and decor and beauty and gifts. Each caters to the lifestyle of their five muses: soft and delicate, boho chic, easy cool, elegant classic, and modern sporty.
Indirect: ABC Kitchen: Marketplace that sources good and created with sustainable practices. They have a kitchen inside the space to create more of a lifestyle feel. Restoration Hardware: Luxury lifestyle market offering furniture, lighting, textiles, rugs, and decor. Apple: Tech based but has a lifestyle built within the brand. Their spaces are very modern and offers various products and services.
Target Consumer: Male & Females 25-35 On the go lifestyle Bachelors Degree (highest level of education) Make a $50,000+ income Single or newly married Work in a fast-paced city Young professional Middle Class American Appreciate something new, that will last more than one season. Minimalistic Invests in staple items
Jennifer Fields Female 26 $75,000+ Engaged BFA in Interior design Interior Designer Lives in SoHo, New York She believes in women empowerment, and is a feminist. She is tech savvy due to her lifestyle blog. She travels frequently. She has a minimalistic style, and will choose quality over quantity any day. She doesnt mind spending money on key items that are worth it in the end. Coffee enthusiast
Mason Carter Male 30 $120,000+ Single B.F.A. in Architecture Architect Lives in Chicago, Illinois He goes to local breweries on the weekend with his friends He is on the market, and wants to make sure he is well dressed, and to keep a nice apartment. He is environmentally friendly. He isnt much of an online shopper, he likes to go in to a physical location so his work attire is tailored just to his liking. In his spare time he likes to write poetry
September 2019: : Week 1: Store Closed for Renovations
Start sharing inspiration images and sneak peeks on both Club Monaco and West Elm social channels
Send out invitations to influencers and VIP customers for launch in October
Announce collaboration and store re-opening date approximately 3 weeks prior
October 2019: : Launch month for the collaboration Influencer Party: October 4th, 2019 Justin Livingston Anthony Urbano Spencer Light Moti Ankari Lee Litumbem Cheyenne Adler (among many) 15% off discount for first purchase in the store Marketing push on the "Club" lifestyle Promoting both home and apparel Advertisements in home settings, relaxed
November 2019: Black Friday Sale Push for "Gifts for the Host" Social media feeds to show Thanksgiving tablescapes, trending holiday outfits VIP Cooking Class with acclaimed chef, Daniel Boulud "Craft the Picture Perfect Plate" Open to VIP shoppers, $150 tickets Email blast campaign "Things We Are Thankful For"
December 2019 Tis the Season Promotional push on holiday gifts Special for party apparel VIP "Holiday Spirits" event Mixology class with Igor Zukowiec December 12th, 2019 Promote event, as well as glassware and bar sets Email campaign focused on "Gifts for Everyone"
January 2020: New Year, New Styles Strong push for New Arrivals New Year sale "Get Organized" home styles Social channels to promote home organization and emerging trends "Refresh and Rejuvenate with Caudalie" Collaboration with NYC spa, mini facials and infused water while you shop Open to the public
February 2020: Valentine's Day "Slip into Something More Comfortable" Sale on intimates and silky basics Valentine's Dinner: tablescapes and candles Floral collaboration with Urban Stems Installation and free rose at checkout "Self Love" Panel Chidera Eggerue, Danielle Pender, Cleo Wade, Faith Jegede Cole Free event, but RSVP required
Conclusion Club Monaco has become a global brand that has become more then just another enterprise but has become a lifestyle that people can look up to. The clothing and the way it is presented evokes a sense of style and flare that isn't seen by any other. Maintaining its stature through its sophisticated visual designs, the brand delivers a holistic view of what it wants its customers to feel. Our goal for the project is to turn this contemporary retailer into a beacon of lifestyle design. The collaboration between West Elm and Club Monaco is set out to evolve the way we look at the companies retail environment. Taking the product out of the equation and focusing on the concept of space and enjoyment of passing time. Our competitors want to create the sense of a "3rd Space", and that is what our initiative is set out to do. While it will take a while for people to being to say "meet me at Club", we safe safely start to build the brand and curate our assortment to attract the clientele were striving for. With the implementation of concealed technology, we will have the ability to seamlessly integrate into the lives of our customers, unobtrusively. In doing so we can assist in a more curated and positive shopping experience that will last for years to come.
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