Oliver Bonas UK-USA Marketing Strategy Report

IN D IV ID UA L S IT UAT IO N A L A N A LY S IS A N D M A R K E T E N T R Y S T R AT E G Y.

CO ON N TT EE N N TT SS C I confirm that this work has gained ethical approval and that I have faithfully observed the terms of the approval in the conduct of this project.

56-61 C ompetitor A naly sis

0 4 Introduction

62-67 S W O T A naly sis

06-11 Methodology

68-71 TO W S A naly sis

1 3 Pa r t 1 - Wh e r e i s t h e b r a n d n ow ?

72 Pa r t 3- Ma r k e t St r at e g y Pl a n

14-15 Brand History

74-75 Introduction

16-17 Brand O verview

76-7 7 M arketing M ix

18-19 Brand Health

78-79 F our-P hase P lan

22-23 Brand E s sence

80-81 P hase O ne

E vie M aher

24-27 B rand V ision/ Values

82-83 P hase Two

N08 43730

30-35 T he C onsumer

S igned (student):

W ord C ount- 3251

2

5 4-55 M acro Trends

E Maher

36 Pa r t 2- E x t e r na l Re v i e w

8 4-8 5 P hase T hree 86-87 P hase F our

38-41 M arket Health

88-89 G antt C hart

42-53 P E S T LE A naly sis

90-95 C onclusion

3

INTRODUCTION T his report will provide a detailed analy sis of the British lifesty le and gifting brand O liver B onas , including the health and analy sis of the brand in the U K and developing a campaign of how they can enter the US market using market entry strategies and marketing models .

T his report will carry out in depth research of the lifesty le and gifting market and how O liver B onas positions themselves within that market compared to their competitors . T his report will also research into the cultural differences between U K and US A consumers and will conclude with a 4-step stage in how they can enter the US market.

4

5

M E T H O D O LO G Y M E T H O D O LO G Y M E T H O D O LO G Y M E T H O D O LO G Y M E T H O D O LO G Y M E T H O D O LO G Y 6

Research Objectives• C onduct researc h into O liver B onas’ brand awarenes s and perception within the U K and find out w hat consumers are us ing most for brand advertis ing within the U K and US A .

• R esearch the gifting and lifesty le market in both the U K and US A and how it is developing.

• Methodically, analy se O liver B onas as a bus ines s through marketing models and us ing both primary and secondary researc h to help my analy s is .

• F inally, come up with a time scaled plan of how O liver B onas can enter the US A market, us ing appropriate strategies to help max imise their potential in the US .

7

PP R R II M MA AR R YY R R EE SS EE A AR RC CH H I c hos e to c onduc t an online que s tionnaire and share it ac ros s friends and family as w ell as profe s s ionals w ithin the indus try. T he surve y was s hare d throug h online platforms suc h as F ac e book , Ins tag ra m , and E -mails to s pread acros s a w ide demographic . T he surve y rec eived 10 0 res pons es from U K consumers , and this was c re ate d to help unders tand the brand perc eption, awarene s s and usage across the UK.

8

I also attempted to get some primary re s e arc h from the U S , and I did this by me s s aging U S c onsumers a few que s tions (s e e A ppendix ) about the ir s hopping habits and opinions to gain a better unders tanding . T his didn’t get as many responses as I was hoping , in total I got 5 re s pons e s how ever s till gave me an ins ight to the A meric an consumerism.

H o w e v e r, it is not the most reliable information, there fore I c annot us e it for de c is ion mak ing .

9

SS EE C CO ON ND DA AR R YY R R EE SS EE A AR RC CH H For my secondary research I used mainly reports , databas e s and artic le s to unders tand the cultural differenc e between U K and US A consumers . I also used these to understand the U K e c onomy and env ironment c ompare d to the U S A’s . I us e d journal ar tic le s and re por ts to unders tand the financ ial information for the mark et as a w hole and O live r B onas as a bus ine s s .

I had to unders tand O liver B onas’ current digital marketing and online pre s enc e and I did this b y re s e a rc hing into the ir Ins tag ra m , P inte re s t , F ac ebook , Tw itter and the ir blog to get an ide a of w hat the y aim to do w ith the ir advertis ing .

10

11

12

13

B BR RA AN ND D H H II SS TT O OR R YY 1 9 9 0

O liver Tres s begins study ing A nthropology at University, and he began to bring bac k gifts for friends from his travels abroad.

14

1 9 9 3

He then turned this into a small bus ines s and in 1993 he opened his first store in Fulham, run by his friends with O lly behind a second-hand till.

2 0 1 5

O liver B onas makes its first million in the U K .

2 0 2 0

Today, O liver B onas has grown to nearly 80 stores acros s the U K and Ireland.

15

BRAND OVERVIEW

16

O liv e r B onas is an inde pe nde nt B ritis h life s ty le s tore , w ho de s ig n the ir o w n tak e on fas hion and home w are .

C urre ntly, the re are ne arly 8 0 s tore s ac ro s s the U K and Ire land , as w e ll as the re taile r ’s flouris hing online s tore , w hic h is he lping the brand to e x pand inte rnationally. O liv e r B onas c ontinue s to look for ne w oppor tunitie s for g ro w th, both throug h d iv e rs ific ation in produc t line s and inc re as ing its inte rnational footprint .

O nline sales are ex panding strongly ahead of target and the retailer is taking steps to increase international e -commerce sales .

O ver two decades on, O liver B onas has evolved from curating others’ designs to creating his own. T heir team of designers now take O liver ’s ex ploratory spirit and channel it into their fashion and homeware collections .

17

£ 40,278,786

BR RA AN ND D H H EE A A LL TT H H B

80 850

S tores acros s the U K

E mploy ees in the company

£ 35,5 42 ,330

£ 69,015,803 £ 61,101,375

18

Instagram F ollowers

‘18

‘18 GROSS

2 7 314 k Years in busines s

£ 4,076,394

‘19

S A LE S O F G O O DS

‘19

£ 3,000,7 71

P R O F IT

‘18

‘19

P R O F I T B E F O R E TA X

19

“W O R K

20

H A R D, PL AY B E K I N D”

H A R D,

21

BB RR A AN ND D EE SS SS EE N NC C EE K indnes s is a word O liver B onas use a lot. It is in fact right at the heart of their company values to ‘ W ork Hard, P lay Hard and B e K ind’. T his means it stretches acros s O liver B onas ; from the way they work with their suppliers to how they like to treat their customers . K indnes s is also something O liver B onas think should ex tend far bey ond their day-to-day lives .

22

23

BB RR AA N ND D VV II SS II O ON N “O liv e r B o n a s ’ v is io n is to h a v e d e s ig n at th e c o re o f th e b u s in e s s – it is w h e re e v e r y th in g e m a n ate s fro m . T h e ir d e s ig n is n o t to o fo rm u la ic , th e y fo llo w th e ir in s t in c t s a n d it d o e s n’ t m atte r if s o m e th in g d o e s n’ t f it th e th e m e , b e c a u s e c u s to m e r s d o n o t re s p o n d to ‘ th e m e s ’, th e y re s p o n d to e x c it in g p ro d u c t s ” ( Tre s s -2 0 14 ).

24

25

O liver B onas pride themselves on treating their staff fairly. T hey are proud to have been accredited by the L iving W age F oundation between 2015 and 2018.. T hey want to ensure all of their team members , no matter w here they work within the company, feel well looked after and valued.

B BR RA AN ND D V VA A LL U U EE SS O liver B onas are proud to be members of the Retail Trust, a charitable organisation that support those working in the retail industry. T heir membership allows their team members to acces s free support.

26

O liver B onas as a company are committed to sourc ing the highest quality products from many countries with diverse cultures and economies .

T hey value long-standing trusting relationships with their suppliers and commit to working in a transparent manner with them all.

27

28

29

O liver B onas aim to make all their consumers happy and take pride in delivering this service to their consumers . T hey do this by having top customer service s kills , great store ex periences and they design their products to positively enhance the mood of their consumers .

THE CONSUMER W ith regards to M aslow ’s Hierarchy of S elf A ctualis ation

Needs w hich is a 5-tier model of human needs ,

E steem Needs B elonging & Love Needs

S afety Needs P hy siological Needs

30

O liver B onas does not neces sarily place themselves in one tier, they choose to move consumers up the py ramid and deliver higher levels of satis faction

31

D D EE M MO OG GR RA A PP H H II C C T he target consumer is aged from 21-55 and is predominantly female but is also a small percentage male. T he consumers are well educated and have a s lightly higher income than the average.

G G EE O OG GR RA A PP H H II C C T he key consumers live in urban and rural areas within a close prox imity to shopping centres and train stations .

T he consumers live within wealthy areas as O liver B onas has independent stores with a higher income consumer and therefore larger and more ex pensive homes .

32

P SS YY C CH HO OG GR RA AP PH H II C C P T he consumers a brand products .

T hey tend bus ines ses and have T he y e n jo y the ne w e s t fo r w a rd s ty le

loyal and enjoy high quality to repeat purc hase from more dispos able income.

b ro w s ing s ho p s a nd s e e ing w hat tre nd s a re to matc h the ir fa s h io n in b o th the ir ho m e a nd fa s h io n s ty le .

BEHAVIOURAL O liver B onas consumers enjoy soc ialis ing and being with friends and family. T hey are fun loving , unique and enjoy art and culture. T hey are hard working but have a good balance of soc ial life and working life.

T he consumers enjoy authentic and independent brands that offer great service and quality.

33

PEN PORTRAIT U U KK

34

U U SS A A

Name : Rosie R amsey

Name : C arlie Butler-W oods

A ge : 34

A ge : 33

Location: S outh S hields , U K

Location: Idaho, US

C areer: House W ife/ Podcaster

C areer: YouTube V logger

A bout: R o s ie has a lov e for fas hion and home w are . S he fre que ntly update s he r Ins tag ram s torie s s ho w ing he r life s ty le and fas hion hauls . H e rs e lf a nd he r hus band hav e a joint c ome d y podc as t w hic h is popular w ithin the U K . S he is a mothe r and lov e s he r family life s ty le .

A bout: C arlie is a lifesty le and family vlogger on YouTube and uploads videos about her home, family and fashion sty le. S he has a big family and enjoy s spending time outdoors .

35

EXTERNAL REVIEW

36

37

UK T he homeware market have continued to grow y ear on y ear and in the U K has ex panded substantially in the last decade, going from £10.8 billion to £13.5 billion in 2019.

In 2018, the market was worth £13.4 billion. However, 20 21 is ex pected to see a boom and have an increase to £14.1 billion. T he major change in the structure of the home acces sories market in recent y ears has been the rise of trend-driven product categories .

A lthough dominated by small-tic ket purc hases , these decorative acces sories sectors , such as cushions , throws and rugs ; candles and holders ; and pictures , prints and photo frames have surged in popularity ; “underpinned by y ounger consumers and private renters , among w hom they increas ingly s atis f y changing demands of modern living , particularly in their offer of affordable personalis ation” (M intel-20 20).

38

M A R K E T H E A LT H

USA T he online gift industry is looking very positive with the majority of top brands achieving consistent and noticeable grow th y ear on y ear. O verall, the industry has grown by 7%. It is clear there are some key play ers in this market w ho have had huge succes s . F or ex ample, personalise.co.uk has ex perienced the largest grow th, growing 327% y ear on y ear (S alience -20 20). However, within the gifting market there is sporadic and drastic grow th and decline w hich is something to take note of.

T he global personalised gifts market is ex pected to reach 31.63 billion dollars by 20 21. T he US A is predicted to be the leading regional segment, generating both highest revenue and max imum incremental grow th (Talbot- 2019).

39

G LO B A L M A R K E T In-s to re re m a in s th e m o s t p o p u la r c h a n n e l o f p u rc h a s e s in th e h o m e a c c e s s o rie s m a r k e t ; h o w e v e r, g iv e n th e rate o f in c lin e fo r o n lin e p u rc h a s in g , th is is s e t to c h a n g e in th e n e x t y e a r. T h is is e x p e c te d a s a re s u lt o f th e p o p u la rit y a m o n g y o u n g e r c o n s u m e rs fo r o n lin e s h o p p in g , a n d a ls o th e g ro w in g u s e o f m o b ile p u rc h a s in g , w ith s m a r tp h o n e s fa s t b e c o m in g a p rim a r y m e a n s o f p u rc h a s e .

40

R e c e nt y e ars has s e e n a w av e of fas hion for w ard home w are s .

F ronte d by c lothing brand s , the re has be e n a inc line of ne w e ntrants as othe r re tail s e c tors look to e x pand the ir home re tail off e ring to build a inc lus iv e ‘life s ty le brand ’ propo s ition, as the y look to appe al to tho s e w ho s e e the s ty le of the ir home as an e x te ns ion of the ir fas hion s ty le .

In add ition to the ris e in online s ale s , online platforms are the mo s t influe ntial c hanne l for de s ig n ins piration. T his w as primarily c ompo s e d off re taile r w e b s ite s and s oc ial me d ia , its influe nc e amongs t the y oung e r c onsume rs is unparalle le d , at 49 % among the c ruc ial 16-3 4 ag e g roup.

41

UK

P P EE SS TT LL EE A AN NA A LL YY SS II SS PP O L I T I C A L

EE C O N O M I C

B ritis h p o litic s hav e b e e n in lim b o fo r the la s t c o u p le y e a rs w ith B R E X IT, b u s ine s s e s a re uns u re o n w hat is g o ing to ha p p e n w ith im p o r t p ric e s a nd tra d ing w ith inte rnatio na l ins titu te s .

D e p e nd ing o n d ire c tio n in w h ic h G B P rate w o uld g o a fte r B re x it it c o uld m e a n inte rnatio na l c urre nc ie s b e ing e ithe r s tro ng e r o r w e a k e r tha n p o u nd . It c o uld ma k e the b ra nd b e m o re a ffo rd a b le , the re fo re m o re a p p e a ling to a fo re ig n c us to m e r (M us to e -20 19 ).

“ T he g ov e rn m e nt a nd the p o litic ia ns w o rk in c o lla b o ratio n to d e v is e ru le s a nd re g u latio ns , the c itiz e ns , b us ine s s e s a nd the re ta il ind u s tr y ha s to o b e y the m . T he s e law s c a n s e rio u s ly im p a c t the p ro fit a nd re v e n ue s tre a m o f b u s ine s s e s ” (S haw 20 20 ). If the g ov e rn m e nt ra is e s s a le s tax e s , the n it w o uld inc re a s e the p ric e s o f the p ro d u c t a nd s e r v ic e s . C o ns e q ue ntly, c o ns u m e rs hav e le s s d is p o s a b le inc o m e a nd b e c o m e m o re c o ns id e rate in the ir p urc ha s e s , w h ic h w ill re s u lt in a d ro p in to ta l s a le s a nd the re fo re fe w e r s a le s m e a n le s s p ro fit .

O n the o the r ha nd , B ritis h c urre nc y is o ne o f the s tro ng e s t a nd s inc e O liv e r B o na s o rig inate d in the U K it ha s that s tro ng b ra nd he rita g e it w ill a lw ay s b e v a lua b le .

42

P e o p le w it h a m id t o h ig h in c o m e h a v e m o re d is p o s a b le in c o m e t h a t t h e y c a n s p e n d o n n o n - e s s e n t ia l it e m s s u c h a s c lo t h in g a n d h o m e a c c e s s o r ie s , w h e re a s c o m p a re d t o p e o p le w it h a lo w in c o m e , t h e y c a n o n ly s p e n d m o n e y o n e s s e n t ia l a n d s t a p le it e m s . T h e re f o re , f o r O liv e r B o n a s , w h ic h is a m o re p re m iu m h ig h s t re e t re t a ile r, t h e ir t a rg e t c o n s u m e r is s o m e o n e w it h a m id t o h ig h in c o m e a s t h e ir p ro d u c t s a re a t a m e d iu m p r ic e p o in t .

SS O C I A L S o m e o f the k e y s o c ia l tre nd s c u rre ntly a re v e g a n is m , e nv iro n m e nta l aw a re ne s s , ath le is u re w e a r a nd m e nta l he a lth . F a s h io n re ta ile rs a re m o s t im p o r ta nt fo r the s e tre nd s a s it a ffe c ts the m m o s t a s , s o c ia lly c lo th ing a nd s ty le is c o ns um e rs w ay o f e x p re s s ing the ms e lv e s .

S o c ia l m e d ia i s v i t a l f o r t h i s g e n e r a t io n b e c a u s e e v e r y t h in g re v o lv e s t e c h n o lo g y .

B ra n d s and b u s in e s s e s a r e e x p e c t e d t o k e e p u p t o d a t e w i t h s o c ia l m e d ia t o a t t r a c t c o n s u m e r s a n d s p a r k in t e r e s t .

T h i s i s s o m e t h in g O l i v e r B o n a s d o w e l l , a s t h e y a r e c o n s t a n t l y u p d a t in g t h e ir In s t a g r a m , T w i t t e r a n d b lo g f e e d s t o e n g a g e w i t h t h e ir c o n s u m e r s .

43

P P EE SS TT LL EE A AN NA A LL YY SS II SS TT E C H N O L O G Y E v e r y d ay the re is a n inc re a s e a nd g ro w th in s o c ia l m e d ia a nd w ith th is , ne w te c h n iq ue s a re b e ing us e d b y b u s ine s s e s to k e e p up w ith th is g ro w th s uc h a s intro d u c ing s w ip e u p lin k s to s o c ia l m e d ia s to rie s a nd p o s ts . T he inc re a s e in s o c ia l m e d ia influe nc e rs a re a ls o b e ing u s e d b y b u s ine s s e s fo r the ir a d v e r tis ing ‘6 1% o f c o ns u m e rs inte ra c t w ith a n influe nc e r at le a s t o nc e a d ay ’ ( W a lk e r-F o rd 20 20 ).

R e ta ile rs c a n u s e o n lin e w e b s ite s to th e ir a d v a nta g e a s th e y c a n c o lle c t d ata fro m th e ir c u s to m e rs a n d c a n e a s ily s e e w h ic h p ro d u c t s a re p o p u la r w ith c u s to m e rs , w h ic h p ro d u c t s th e y a re le a n in g to w a rd s , o r n o t inte re s te d in at a ll. A ll o f w h ic h is c ru c ia l in fo rm at io n a b u s in e s s lik e O liv e r B o n a s w h o h a s a v a s t p ro d u c t ra n g e .

44

LL E G A L “C o p y rig ht is the le g a l a nd e x c lus iv e rig ht to c o p y, o r p e rm it to b e c o p ie d , s o m e s p e c ific w o rk o f a r t . C o p y rig ht is a h ug e le g a l o b lig atio n that re ta ile rs m us t c o m p ly w ith in o rd e r to s e ll the ir p ro d uc ts ” ( Tuc k e r B a rr- 20 16 ). If y o u c o p y s o m e o ne e ls e ’s c o p y rig hte d w o rk , it may re s ult in fine s .

T h is is v e r y im p o r ta nt fo r O liv e r B o na s to b e a r in m ind a s the y u s e a lo t o f a r t w o rk a nd q uo te s fo r the ir g ifting a nd ho m e w a re that c o uld b e o w ne d b y s o m e o ne e ls e a lre a d y.

T he re ha s b e e n c ha ng e s in ho w e - c o m m e rc e re ta ile rs o p e rate the ir b us ine s s o v e r the la s t fe w y e a rs . “ T he C o ns u m e r P ro te c tio n fro m U nfa ir Tra d ing R e g ulatio ns p ro te c ts y o u fro m unfa ir p ra c tic e s a nd it b a ns m is le a d ing a nd a g g re s s iv e s a le s ta c tic s ” ( W h ic h-20 15 ).

T he C o ns u m e r R ig hts A c t g iv e s the c o ns um e r rig hts w he n the y b uy g o o d s a nd s e r v ic e s fro m a b us ine s s .

UK

45

EE N V I R O N M E N T A L E v e r y d a y e ff o r t s a r e b e in g r a m p e d u p to b e g r e e n a n d e n v ir o n m e n t a ll y a w a r e w i t h in c o m p a n ie s . M a t e r ia ls f o r p r o d u c t s a n d p a c k a g in g a r e b e in g s t r ic t l y m o n i t o r e d a n d b u s in e s s e s a r e b e in g s c r u t in is e d f o r n o t c o m p l y in g w i t h t h e e n v ir o n m e n t a l s t a n d a r d s a n d t h is c a n b e a h ug e turn o ff fo r s o m e c o ns um e rs (C e rna ns k y - 20 19 )..

A c c o rd ing to B us ine s s Ins id e r, “ the fa s h io n ind us tr y is the s e c o nd la rg e s t c o ns u m e r o f w ate r s up p ly a nd a c c o unts fo r 10 p e r c e nt o f c a rb o n e m is s io ns g lo b a lly ” (M c F a ll Jo h ns e n20 19 ).

T he re fo re , c o ns um e rs a re b e c o m ing aw a re a nd no w b e ing m o re c o ns id e rate w he n p u rc ha s ing . T h is w o u ld b e a g re at o p p o r tun ity fo r O liv e r B o na s a s the y o ffe r c lo th ing that is o f h ig h q ua lity b u t w ith a h ig he r p ric e p o int w h ic h ma ny c o ns um e rs a re m o v ing to w a rd s .

46

47

P P EE SS TT LL EE A AN NA A LL YY SS II SS PP O L I T I C A L

EE C O N O M I C

“In a s u r v e y o f 1,6 0 0 A m e ric a n c o n s u m e r s , c o n d u c te d in F e b ru a r y 2 0 18 , t w o - t h ird s (6 5 % ) o f c o n s u m e r s s a id t h a t t h e c u rre n t p re s id e n t ia l a d m in is tra t io n h a s im p a c te d t h e ir s h o p p in g b e h a v io u r ”. T h a t is u p a n in c re d ib le 2 5 % f ro m t h e y e a r b e fo re w h e re o n ly 4 0 % s a id t h e s a m e , t h is w a s c o n d u c te d im m e d ia te ly a fte r D o n a ld J Tru m p w a s e le c te d a s P re s id e n t (D a n z ig e r- 2 0 18 ).

N e a r ly o n e in f iv e c o n s u m e r s a ls o s a id t h e y s h o p le s s o fte n a t re t a ile r s w h o o p e n ly s u p p o r t D o n a ld Tru m p .

T h e A m e ric a n e c o n o m y is t h e t h ird la rg e s t in t h e w o r ld , a n d t h is h a s g ro w n s tro n g e r d u e to Tru m p ’s p o lic ie s . T h e a n n u a l ra te o f g ro w t h in G D P - t h e v a lu e o f g o o d s a n d s e r v ic e s in t h e e c o n o m y - h a s g e n e ra lly b e e n s tro n g s in c e Tru m p s p re s id e n c y . “F o r 2 0 19 , d a t a s h o w s a n a n n u a l a v e ra g e g ro w t h o f 2 .3 % , e n d in g t h e y e a r a t 2 .1% fo r t h e fo u r t h q u a r te r. H o w e v e r, t h is is s ig n if ic a n t ly le s s t h a n t h e 5 .5 % p e a k a c h ie v e d in t h e s e c o n d q u a r te r o f 2 0 14 d u rin g t h e O b a m a p re s id e n c y ” ( T h e R e a lit y C h e c k Te a m B B C - 2 0 2 0 ).

T h e A m e ric a n p o lit ic s im p a c t s a ll A m e ric a n c o n s u m e rs d iffe re ntly. It is a v e r y d iv id e d c o u ntr y o n th e ir p o lit ic a l v ie w s a n d o p in io n s . T h e re fo re , it is d iff ic u lt fo r re ta ile rs to s h o w a ny s u p p o r t fo r p o lit ic s a s it c o u ld im p a c t th e ir p ro f it a n d c u s to m e r b a s e . F o r O liv e r B o n a s , th is m ay w o r k in th e ir fa v o u r a s th e y a re c o m in g into th e U S A a s a B rit is h b ra n d a n d th e re fo re d o e s n’ t h av e to c o n s id e r w h at p o lit ic a l p a r t y th e y fo llo w .

H o u s e h o ld in c o m e fo r A m e ric a n s h a s a ls o b e e n g ro w in g , b u t t h e ra te o f in c re a s e h a s s lo w e d in t h e la s t fe w y e a r s .

In 2 0 18 , t h e a v e ra g e h o u s e h o ld in c o m e w a s $ 6 3 ,1 7 9 , w h ic h is n o t s t a t is t ic a lly d iffe re n t f ro m t h e p re v io u s y e a r. T h is m e a n s t h a t O liv e r B o n a s w ill h a v e to c o n s id e r t h e ir p ric in g s tra te g y in t h e U S m a r k e t . T h e y w ill a ls o h a v e to c o n s id e r t h a t w h e n Tru m p is n o lo n g e r in p re s id e n c y t h e p o lic ie s m a y c h a n g e w h ic h w ill m a k e t h e e c o n o m y c h a n g e a g a in .

48

U U SS A A SS O C I A L E . m a r k e te r p re d ic t s U S s p e n d in g o n s o c ia l n e t w o r k s w ill in c re a s e b y 2 0 .4 % in 2 0 2 0 to m o re t h a n $ 4 3 b illio n ( W illia m s o n - 2 0 2 0 ). T im e s p e n t o n F a c e b o o k is e x p e c te d to fa ll m o re t h a n it a lre a d y h a s to a n e w lo w o f 3 3 m in u te s p e r d a y a m o n g s t U S a d u lt F a c e b o o k u s e r s . H o w e v e r, In s t a g ra m w ill h a v e m o re u s e r s a g e s 18 to 2 4 t h a n F a c e b o o k fo r t h e f ir s t t im e e v e r. T h is a g re a t o p p o r tu n it y fo r O liv e r B o n a s b e c a u s e t h e y a lre a d y h a v e a fo llo w in g o f 3 0 9 .0 0 0 s o t h e y c a n c o n t in u e to g ro w t h is in to t h e U S A .

S t a r t - u p s a n d e x is t in g p la y e r s w ill c o n t in u e to tr y a n d t a k e a d v a n t a g e o f t h e ris e o f o n lin e v id e o p la tfo rm T ik To k . H o w e v e r, s o c ia l m e d ia e x p e r t s a re s c e p t ic a l o f h o w lo n g t h e p o p u la rit y w ill la s t in t h e U S ( W illia m s o n - 2 0 2 0 ).

49

50

P P EE SS TT LL EE A AN NA A LL YY SS II SS TT E C H N O L O G Y

T h e U S A is re n o w n e d fo r t h e ir b re a k t h ro u g h te c h n o lo g ic a l d is c o v e rie s , w it h t h e lik e s o f A p p le , M ic ro s o ft , G o o g le , F a c e b o o k , a n d m a ny o t h e r s w h o h a v e t a k e n t h e w a n t s a n d n e e d s o f A m e ric a n c o n s u m e r s a n d c re a te d in te rn a t io n a lly u s e d p ro d u c t s . T h e U S is o n e o f t h e g lo b a l le a d e r s in s c ie n c e a n d te c h n o lo g y a n d A m e ric a n s h a v e a lo n g s t a n d in g fa s c in a t io n fo r it .

T h e U S re t a il t h e a tre is a lw a y s a d v a n c in g a n d te c h n o lo g y lik e iP a d s a n d v ir tu a l re a lit y a re b e in g u s e d to e n h a n c e re t a il e x p e rie n c e . T h is is a u n iq u e s e llin g p o in t fo r m a ny s to re s a n d is b e in g s o ld a s a s h o p p in g e x p e rie n c e . T h is m u s t b e c o n s id e re d b y O liv e r B o n a s a s t h e y s h o u ld t a k e t h is in to a c c o u n t b e c a u s e s o m e A m e ric a n c o n s u m e r s e x p e c t t h is re t a il t h e a tre a n d w ill g o to c o m p e t ito r s in s te a d w h o a re u p to d a te w it h t h e n e w e s t te c h n o lo g y .

LL E G A L T h e U n ite d S t a te s d o e s n o t h a v e a n a t io n a l s a le s - t a x s y s te m . E a c h s t a te h a s t h e a u t h o rit y to im p o s e it s o w n s a le s a n d h o w t h e y im p le m e n t t a x . “ U n d e r t h e g e n e ra l ru le , if t h e s e r v ic e is b e in g s u p p lie d to a c o n s u m e r ( ra t h e r t h a n a b u s in e s s ) in t h e U S A , it w ill b e s u b je c t to U K V AT ” (K M P G - 2 0 18 ). T h is m e a n s t h a t v a lu e a d d e d t a x o n to t h e p ro d u c t s m u s t b e c h a rg e d a t t h e n o rm a l U K ra te , e it h e r s t a n d a rd ra te , re d u c e d ra te , z e ro - ra te d o r e x e m p t .

U S r e t a il la w s a n d r e g u la t io n s v a r y in e v e r y s t a t e , in s o m e a r e a s t h e r e m a y b e o n e la w a n d i t w ill b e d iff e r e n t in o t h e r s . S o m e s t a t e s s u c h a s C a lif o r n ia a n d N e w Yo r k a r e m o r e m o d e r n a n d s e e n a s t o u r is t d e s t in a t io n s , w h e r e a s Te n n e s s e e a n d Te x a s a r e m o r e t r a d i t io n a l A m e r ic a a n d h a v e d iff e r e n t lif e s t y le s . T h is is s o m e t h in g O liv e r B o n a s w ill d e f in i t e l y t a k e in t o a c c o u n t w h e n p la n n in g t h e ir p o s i t io n in g in A m e r ic a .

U U SS A A

51

EE N V I R O N M E N T A L E a c h y e a r, t h e p o p u la t io n in t h e U S g ro w s b y m o re t h a n 1,7 0 0 ,0 0 0 p e o p le . R o u g h ly , s t a t is t ic a lly e a c h p e r s o n re q u ire s a n a d d it io n a l a c re o f la n d a n d h ig h w a y s ( Ts u i- 2 0 2 0 ). T h is ra p id a n d v a s t in f lu x o f p e o p le h a s in c re a s e d t h e b u ild in g o f n e w la n d , d e s tro y in g fa rm la n d a n d fo re s t s , m a k in g A m e ric a s c a r b o n fo o tp rin t g ro w la rg e r a n d la rg e r e a c h y e a r.

A m e r ic a h a s h a d m a y n a t u r a l d is a s t e r s a c r o s s t h e ir c o u n t r y in c lu d in g t s u n a m is , b u s h f ir e s , e a r t h q u a k e s , a n d f lo o d in g . T h e r e f o r e , a lo t o f c o n s u m e r s a r e b e c o m in g m o r e a w a r e o f t h e ir p e r s o n a l im p a c t a n d lo o k f o r s u s t a in a b le a lt e r n a t iv e s a n d lif e s t y le c h a n g e s t h e y c a n m a k e t o h e lp t h e p la n e t .

T h is m e a n s t h a t O liv e r B o n a s m u s t e m p h a s is e t h e ir e n v ir o n m e n t a ll y a w a r e f a c t o r s t h a t t h e y u p h o ld a s a b u s in e s s t o t h e A m e r ic a n c o n s u m e r.

P P EE SS TT LL EE SS U UM MM MA AR R YY U UK K T h e m o s t im p o r t a n t fa c to r s fo r O liv e r B o n a s w it h in t h e U K a re the f lu x u a t io n o f t h e d is p o s a b le in c o m e t h a t U K c o n s u m e r s h a v e to s p e n d .

W h e n d is p o s a b le in c o m e is h ig h O liv e r B o n a s w ill b e n e f it g re a t ly a s t h e y a re a n o n e s s e n t ia l b u s in e s s , s o m u s t m o n ito r t h e b e s t t im e to o ffe r n e w p ro d u c t s a n d d is c o u n t s . O liv e r B o n a s m u s t a ls o k e e p u p to d a te w it h c onsumer and s o c ia l tre n d s t h a t im p a c t s c o n s u m e r a tt itu d e s to w a rd s in d u s trie s a n d b u s in e s s e s , s u c h a s s u s t a in a b ilit y a n d g lo b a lis a t io n .

52

U U SS A A T h e U S P E S T L E fa c to r s t h a t a re m o s t im p a c tf u l o n O liv e r B o n a s a re t h e p o lit ic a l s t a te o f t h e c o u n tr y a n d h o w t h e c u rre n t p re s id e n t im p a c t s t h e re t a il in d u s tr y . It is a d iv id e d c o u n tr y o n p o lit ic s t h e re fo re m u s t b e t a k e n in to a c c o u n t w h e n e n te rin g t h e U S m a r k e t .

T h e e nv iro n m e n t a l fa c to r s h a v e a la rg e r im p a c t o n t h e U S t h a n o n t h e U K , t h e re fo re is a m o re im p o r t a n t fa c to r to c o n s id e r w h e n m a r k e t in g a b u s in e s s in t h e U S . T h e y a re a h ig h ly p o p u la te d c o u n tr y a n d c o n t in u e to g ro w y e a r o n y e a r, t h e re fo re O liv e r B o n a s m u s t b e a b le to k e e p u p w it h t h e c o n s t a n t c h a n g e a n d d iv e r s it y o f A m e ric a n c o n s u m e r s .

53

PP EE RR SS O ON N AA LL II SS AA TT II O ON N A ccording to W G S N , consumers are constantly looking for new way s to ex pres s their individuality and there is a higher demand for personalised products within the gifting and acces sory market. O liver B onas has large product offering that are often bought for gifts and therefore has a great opportunity to offer personalised products w hic h will boost their sales .

M intel conducted researc h w hic h s hows that US consumers feel more positive about a brand w ho offer the personalis ation service, meaning that if O liver B onas offers this service it will prove succes s ful in the US .

54

MACRO TRENDS

55

C CO OM MP P EE TT II TT O OR R A AN NA A LL YY SS II SS U U SS A A U U KK In the U K O liv e r B onas ’ main c ompe titors a re T he W hite C ompany and A nthropolog ie . T he y all hav e s imilar produc t off e rings and pric e point ho w e v e r the y all hav e d iff e re nt U S P ’s a nd bra nd ae s the tic s ..

T he W hite C ompany aim to “deliver a customer service second to none, a seamles s shopping ex perience acros s every c hannel. T hey want to give their customers outstanding quality products and wonderful service to make the most of every day ” (Morris-2017). T he W hite C ompany have 50 stores acros s the U K and has a clean and fres h vibe to their stores , soc ial media, and online store.

56

A nthropologie believes their busines s has grown into a “one -of-a-kind destination for those seeking a curated mix of clothing , acces sories , gifts , and home décor to reflect their personal sty le and fuel their lives’ pas sions .

Taking inspiration from the worlds of fashion, art and entertaining , they are committed to offering their customers signature products and unmatched service, both online and in stores throughout the U K and North A merica” (A nthropologie -20 20). T hey have a wide presence in the U K and US A , with 216 stores spread acros s two countries .

57

U U KK

L A R G E P R O D U C T O F F E R IN G

T R A DIT IO NA L DE S IG N

58

U N IQ U E DE S IG N

LO W P R O D U C T O F F E R IN G

T he re are many s imila r bus ine s s e s a nd c ompa nie s w ithin the U K ma rk e t to O liv e r B onas . W ith the lik e s of John L e w is , the y are a re no w ne d a nd e s tab lis he d de pa r tme nt s tore w ithin the U K w ho hav e a larg e c us tome r bas e w ho te nd to be v e r y loy al to the ir s tore as the y a re re liab le , off e r g ood quality produc ts and s e r v ic e s .

W hereas , L aura A shley, T he W hite C ompany and A nthropolgie are all direct competitors to O liver B onas as they are all independent retailers and offer similar products within the same price range .

59

U U SS A A

L A R G E P R O D U C T O F F E R IN G

T R A DIT IO NA L DE S IG N

60

U N IQ U E DE S IG N

LO W P R O D U C T O F F E R IN G

D iff e re ntly to the U K , de pa r tme nt s tore s a re domina nt w ithin the U S A .

T he ir inde pe nde nt s tore s a re usually c hains w hic h ope rate all ov e r the U S A suc h as A nthropolog ie , thus be ing the ir main c ompe titor w ithin the U S ma rk e t . T he U S ma rk e t doe s nt s e e m to hav e little s tore s that s e ll home ac c e s s orie s , g ifts , ac c e s s orie s and c lothing lik e O liv e r B onas do.

T his is w here O liver B onas would be pos itioned within the US market

61

WO O TT A AN NA A LL YY SS II SS SS W

SS T R E N G T H S

W WEAKNESSES

- O liv e r B o n a s h a v e o n lin e a n d o ff lin e p re s e n c e s o c a n m a k e p ro f it a ll h o u r s o f t h e d a y a n d re a c h a w id e ra n g e o f p e o p le e v e n if t h e y d o n ’ t h a v e a s t o re n e a r b y .

-T he ir produc t ra ng e is s o v as t a nd w ide that it w ill attrac t a w ide ra ng e of c onsume rs w ho hav e d iff e re nt w a nts and ne e d s . T he y appe al to a mas s mark e t .

-T he y update

hav e the ir

a

g ood s oc ial me d ia pre s e nc e , Ins tag ra m , pe rs onal b log , Tw itte r

the y and

c ons ta ntly P inte re s t .

-O liv e r B onas has quirk y de s ig ns and unique produc ts that mak e the m s ta nd ou t from the ir c ompe titors . T he ir s tore is fun a nd e njoy ab le to s hop w hic h c re ate s an e x pe rie nc e for the ir c onsume rs .

-T he ir the ir

62

pric ing produc ts

is a nd

fairly is

re as onab le ac c e s s ib le

for for

a

the

-O liver B onas doe s n’t have as many s tore s ac ros s the U .K as their c ompetitors do w hic h means the y are mis s ing out on potential cus tomers w ho are brow s ers .

-T h e ir p ro d u c t s c a n s o m e t im e s b e s e e n a s to o u n iq u e a n d q u ir k y fo r th e ir c u s to m e rs s o m ay lo s e o u t o n s a le s c o m p a re d to a m o re tra d it io n a l b u s in e s s fo r h o m e w a re a n d life s t y le s u c h a s J o h n L e w is .

- O liv e r B o n a s d o e s n’ t h a v e m u c h p re s e n c e in th e a d v e r t is in g w o r ld , s o is n’ t fe atu re d in m a g az in e s a n d t v a d v e r t s w h ic h is lim it in g th e ir b ra n d aw a re n e s s .

-T he ir c lothing ra ng e is s pe c ific ally de s ig ne d for w ome n me a ning the y are re s tric ting the ir s ale s of c hildre n’s w e a r a nd me n’s w e a r w hic h c ould off e r the m hug e profit .

quality of larg e mark e t .

63

U U KK O PPORTUNITIES O - O liv e r B o n a s h a v e m a in ly h o m e w a re a c c e s s o r ie s a n d d e c o ra t io n , b u t t h e y c o u ld e n t e r t h e p a in t a n d m a t e r ia ls m a r k e t t o e x p a n d t h e ir h o m e w a re ra n g e .

- C o n s u m e r s p e n d in g o n g a rd e n p ro d u c t s is f o re c a s t t o g ro w b y 2 0 % b e t w e e n 2 0 19 - 2 0 2 4 , t o re a c h £ 7.5 b illio n (M in t e l- 2 0 19 ). T h e y c o u ld o ff e r a g a rd e n in g ra n g e t o e x p a n d t o a n e w m a r k e t o f g a rd e n in g e n t h u s ia s t s .

- M o re t h a n h a lf (5 1% ) o f m ille n n ia ls b u y g ift s f o r t h e ir p e t s o n c e a m o n t h o r m o re . B u y in g c lo t h e s f o r p e t s is b e c o m in g in c re a s in g ly p o p u la r, w it h 6 0 % o f m ille n n ia ls s a y in g t h e y a re lik e ly t o b u y ju m p e r s , s w e a t s h ir t s a n d o t h e r c lo t h in g f o r t h e ir p e t s (D a n z ig e r- 2 0 18 ). O liv e r B o n a s c o u ld e x p a n d t o t h e p e t m a r k e t , s e llin g d o g b o w ls , le a d s , c o lla r s , c lo t h in g e t c a s t h is is a g ro w in g m a r k e t a n d a p p e a l t o a ra n g e o f c o n s u m e r s .

64

TT H R E A T S -D e p a r t m e n t

s t o re s

the

and

masses

such

a re

as

m o re

John

L e w is

a c c e s s ib le

for

a re

m o re

w e ll

c onsumers

as

known the y

to

have

s t o re s a ll a c ro s s t h e U K s o c o n s u m e r s a re m o re lik e ly t o g o t o a la rg e e s t a b lis h m e n t

lik e

them

as

e v e r y t h in g

the y

- S o m e o f t h e ir c o m p e t it o r s s u c h a s IK E A

need

is

in

one

s t o re .

a n d P r im a r k o ff e r s im ila r

p ro d u c t s t o O liv e r B o n a s f o r a m o re c o m p e t it iv e p r ic e p o in t . IK E A a ls o o ff e r s a m e d a y c o lle c t io n f o r t h e ir f u r n itu re w h ic h O liv e r B o n a s d o n o t .

65

U U SS A A O PPORTUNITIES O -T h e U S i s b i g o n d e p a r t m e n t s t o r e s , i n 2 0 1 8 , “ o v e r 8 0 p e r c e n t o f U .S . c o n s u m e rs a g e d b e t w e e n 18 a n d 4 9 re p o r te d th at th e y h a d s h o p p e d at a d e p a r tm e nt s to re in th e p re v io u s t w e lv e m o n t h s ” (O ’ C o n n e ll- 2 0 2 0 ). T h is f ig u re h ig h lig h t s t h e p o p u la r it y o f d e p a r tm e nt s to re s a s a s h o p p in g c h a n n e l in th e U n ite d S tate s .

T h is w o u ld b e a g re at w a y to e nte r th e U S m a r k e t fo r O liv e r B o n a s .

-T h e g l o b a l e n t e r p r i s e c o l l a b o r a t i o n t o g r o w f r o m $ 3 1.0 b illio n in 2 0 19 O liv e r B onas c o u ld ex pand into d e s ig n e rs a n d c o m p a n ie s w h o o ffe r a ls o h a v e a p re s e n c e in th e U S A a s

66

m a r k e t s iz e is p re d ic te d t o $ 4 8 .1 b i l l i o n b y 2 0 2 4 . c o lla b o rat io n s w ith other othe r produc ts and w ho a w ay in fo r O liv e r B o n a s .

TT H R E A T S -T h e r e i s g r o w i n g c o m p e t i t i o n i n t h e U S , w h i c h w i l l b e f e l t b y b o t h t h e s m a ll a n d b ig b ra n d s . S e v e ra l n o n -U S b ra n d s a re a lre a d y tr y in g to s te a l t h e s c e n e fro m th e U S b ra n d s b u t h a v e n ’ t a lw a y s b e e n s u c c e s s fu l. T h e re fo re , O liv e r B o n a s m u s t a s s e s s a ll th e ris k s w h e n e nte rin g th e U S m a r k e t a n d s e e h o w o th e r b ra n d s d id n’ t s u c c e e d in th e U S to a v o id d o in g th e s a m e .

67

Inte rn a l S tre n g t h s -O nline/O ff line Presence -Vast and wide product range -S oc ial media presence -Fair price point -Q uirky /unique designs

Inte rn a l W e a k n e s s e s -Low amount of stores -Products are of one sty le -Low advertis ing -O nly offer female clothing range

68

E x te rn a l O p p o r tu n it ie s

E x ternal T hreats

-Paint and home décor market - G arden products is forecast to grow by 20% - More than half (51%) of millennials buy gifts for their pets

-W ell known stores are more acces sible and reliable to consumers -Ikea and Primark have a muc h lower price point but s imilar product offer

-T heir strong online presence can help market new ranges and spread brand awarenes s .

-T heir strong online presence can be used instead of phy s ical stores as more and more millennials are using online websites to buy products .

-T heir fair pric ing strategy will help to sell the new product ranges -T he garden and pet range will attract more males as they are restricting themselves with female clothing.

-E x panding product ranges will attract a new market and consumer

-T heir quirky designs can be their US P against their lower priced competitors -Reduce threat of well-known competitors by ex aggerating unique designs and us ing online presence to market this and increase their advertising -C ombat the weaknes s of only female range by ex panding this to male or kids wear.

OW W SS A AN NA A LL YY SS II SS TT O UK

69

E x te rn a l O p p o r tu n it ie s -O ver 80 percent of U.S . consumers reported that they had s hopped at a department store in the previous twelve months .

- T he global enterprise collaboration market s iz e is predicted to grow from $31.0 billion in 2019 to $48.1 billion by 20 24.

OW W SS A AN NA A LL YY SS II SS TT O USA

Inte rn a l S tre n g t h s

-Q uirky and unique des igns will stand out in department stores in -O nline/O ff line Presence A merica as they are usually s imple -Vast and wide product range and clas s ic .

-S oc ial media presence -T heir soc ial media presence will be -Fair price point a great help in collaborations to mar-Q uirky /unique des igns ket and advertise it as well as the other collaborators .

Inte rn a l W e a k n e s s e s -Low amount of stores -Products are of one sty le -Low advertis ing -O nly offer female clothing range

70

-T he collaboration and department stores are a cost-effective way of spreading brand awarenes s without having to open up new independent stores .

-C ollaborations are a good way of advertis ing by us ing the other brands consumers and popularity for y our own benefit.

E x ternal T hreats - T here is growing competition in the US , many brands from Europe are try ing to penetrate the US market but fail frequently.

- T heir vast and wide product offer means they have more to offer consumers and are likely to find something they like and therefore succeed in the A merican market.

-T he low advertis ing will not help the differentiation of O liver B onas so they s hould increase this to prove succes s ful in the US .

71

MA AR RK K EE TT M RA A TT EE G G YY SS TT R P LL A AN N P 72

73

O liv e r B o n a s h a s h a d little to n o e x p e rie n c e in fo re ig n m a r k e t s . T h e o n ly p la c e O liv e r B o n a s h a s s to re s o t h e r t h a n t h e U K is Ire la n d .

T h e re fo re , th e b e s t w ay in w h ic h O liv e r B o n a s c a n e a s e th e m s e lv e s into th e U S A is th ro u g h a fo u r- s te p p h a s e m a r k e t s trate g y p la n o v e r th e s p a c e o f a y e a r to k ic k s ta r t th e ir inte rn at io n a l fo o tp rint .

74

75

PP R O D U C T

PP R I C E

P rimarily foc us s e d on the g ifting , -T he pric ing s trate gy w hic h w ould be c lothing , a nd home ac c e s s orie s be s t to s ta r t w ith is a mix of c ompe titorrang e .

O ff e r the pe rs onalis ation bas e d pric ing a nd pe ne tration pric ing . s e r v ic e on s ome of the produc ts .

T his w ay O liv e r B onas c an one Initial launc hing w ith O liv e r B onas ’ s tay on top of the ir c ompe titors bu t be s ts e lling pie c e s in the U K , alte re d als o g rab atte ntion of the ir targ e t s lig htly for the US c onsume r. ma rk e t by us ing pe ne tration pric ing .

PP R O M O T I O N - T he ma in p ro m o tio na l te c h n iq u e O liv e r B o na s m us t us e is s o c ia l m e d ia ma rk e ting , e nc o u ra g ing the u s e o f ha s h ta g s a nd Q R c o d e s w ith in the s to re . T h is the n c a n m ov e o nto influe nc e r ma rk e ting to g ro w b ra nd aw a re ne s s in the U S .

76

PP L A C E -C ollaborate w ith c urre nt ma rk e t le ade rs suc h as H & M H ome to e nte r the mark e t , the n mov e onto a c onc e s s ion w ithin a de par tme nt s tore . T his w ill be a c o s t-e ff e c tiv e w ay of introduc ing O liv e r B onas to the U S mark e t .

PP H Y S I C A L -B e ing a c onc e s s ion w ill d iff e r from the phy s ic al appe aranc e of a s tand-alone s tore lik e in the U K , ho w e v e r it s hould s till be c olour ful, fun, and inv iting v isual me rc hand is ing . It s hould s till re main lu x ur y look ing , and the B ritis h he ritag e s hould c ome throug h rig ht aw ay.

PP E O P L E -T he targ e te d de mog raphic w ill be the s ame as the U K , 2 1-5 5 -y e ar old s .

T he y w ill targ e t pe ople w ho are fas hion for w ard and w ant the ir home to matc h this s ty le .

PP R O C E S S

-S tar t by e x pe rime nting w ith c ollaborations and s e e ho w the U S re ac ts be fore s lo w ly introduc ing O live r B onas into de partme nt s tore s around the U S .

-B e g in to plan a supply c hain in w hic h e x por ts c an be s hippe d fairly and in c o s t e ff e c tiv e w ay s .

MARKETING MIX

77

F

O

U

R -P P L H A A N S E

78

79

PP H HA A SS EE O ON N EE :: SS EE PP TT EE M M BB EE R R 22 00 22 11

T he firs t phas e for O liver B onas w ould be to de s ign a range of produc ts in c ollaboration w ith H & M Home w hic h c an be s old in both the U K and U S A . T his is k now n as a joint venture w hic h is a good way of entering a market by us ing the k now le dge and ex pertis e of an international brand to ex pand y our ow n brands awarene s s .

T his c an allow O liver B onas to get a fe el of how the c onsumers interac t w ith the produc ts and how w ell it s ells in order to give them an idea of w hat produc ts to take forward and s ell in department s tore s . H & M have a loy al cus tomer bas e and the y us e c ollaborations a lot w ith other de s igners , s o O liver B onas w ould bene fit greatly by w ork ing w ith them.

X 80

T his w ill tak e p lac e in S e pte mbe r be c aus e it is jus t be fore the main holiday s e as on of the y e ar w ith O c tobe r, C hris tmas and for the A me ric ans , T hank s g iv ing . T his is a g re at pe riod for a g ifting brand be c aus e e v e r y y e ar c onsume rs are look ing for ne w and e x c iting g ifts for the ir frie nd s a nd family and the me d de c orations for the home s e ll e x tre me ly w e ll in the U S A “U nite d S tate s home de c or mark e t is e x pe rie nc ing the hig he s t g ro w th w ith the mark e t s hare of 6 8 .1% in 20 17 in the N or th A me ric a R e g ion” (W ood-20 18).

81

#BeKindWithBonas WithBonas #BeKind OLIVER BONAS HAUL 2021

PP H HA A SS EE TT W WO O :: P has e tw o is w hen the influenc er marketing w ill c ome in. T his w ill inc lude a paid promotion for a popular U S influenc er suc h as L auren C onrad to s how a ‘haul’ of O liver B onas produc ts that the y have be en gifte d and how the y have s ty le d it w ithin their home and outfits w ith the c lothing .

T his w ill hope fully grow the O liver B onas brand awarene s s in the U S A w ithin the target demographic . T his w ill be s ignific ant as 90 % of the pe ople w ho took the surve y sugge s te d O liver B onas ne e de d more marketing , s pe c ific ally on s oc ial me dia. “ T he influenc er marketing indus try is on trac k to be w orth up to $15 billion by 20 22” (S c homer-20 19).

To follow this up, O liver B onas # B eK indW ithB onas w hic h w ill not about their bus ine s s but als o tie in

82

w ill only w ith

s tart the has htag s pread the w ord the ir brand e s s enc e .

N NO OV V EE M MB B EE R R 22 00 22 11

83

84

PP H HA A SS EE TT H H RR EE EE ::

P ha s e 3 is w he re p o p -u p s ho p s w ill b e intro d uc e d into A m e ric a n tra in s tatio ns a nd a irp o r ts . “A s o f 20 19, 5 5 p e rc e nt o f U .S . c o ns um e rs s ho p p e d at p o p -up s ho p s b e c au s e o f the un iq ue a nd e x c lus iv e p ro d uc ts o r e x p e rie nc e s the y o ffe re d ” (B e d fo rd-20 19 ). T he p o p -up s ho p s w ill s e ll a c o lle c tio n o f O liv e r B o na s ’ b e s t s e lling p ro d uc ts a nd w ill b e s o ld in tra in s tatio ns a nd a irp o r ts w ith in the U S A w h ic h hav e the m o s t tra ffic s u c h a s G ra nd C e ntra l S tatio n in N e w Yo rk C ity a nd L A X a irp o r t .

J A N U A R Y 2 0 2 2 85

A irp o r ts a nd tra in s tatio ns w o uld b e the b e s t o p tio n a s c o ns um e rs hav e m o re tim e to s ho p a nd b uy g ifts fo r the ir fa m ily a nd frie nd s w h ils t o n the ir trav e ls a nd w a iting fo r the ir d e p a r ture .

O liv e r B o na s s e lls in the inte rnatio na l tra in s tatio n K ing s C ro s s s tatio n in the U K e x tre m e ly w e ll, the re fo re the y a lre a d y hav e a n id e a o f w hat p ro d uc ts to o ffe r a nd ho w w e ll the y s e ll w h ic h w ill b e a n a d v a nta g e fo r the m .

PHASE FOUR:

U LL YY 22 00 22 22 JJ U

T he ne x t p ha s e is w he re O liv e r B o na s inte g rate s into the U S A fo r the lo ng te rm . T h is is the p ha s e w he re O liv e r B o na s g e ts intro d uc e d a s a c o nc e s s io n in K o h l’s w ho w a s rate d the to p d e p a r tm e nt s to re in the U S fo r ho m e w a re in 20 18 (S tatis ta - 20 18 ). T he c o nc e s s io n s ta nd w ill d is p lay a ra ng e o f the ir c lo th ing , ho m e a c c e s s o rie s a nd g ifting p ro d uc ts , it w ill b e d e c o rate d in the s a m e w ay in w h ic h the s to re s in the U K a re w ith b rig ht c o lo urs a nd b rig ht lig hting to e n ha nc e the p ro d uc ts .

T he intro d uc tio n into K o h l’s w o uld s ta r t w ith to uris t s tate s a nd c itie s s uc h a s C a lifo rn ia , L o s A ng e le s , N e w Yo rk , C h ic a g o, S a n F ra nc is c o e tc . T h is w ill b e a n ins ig ht to s e e ho w to uris ts a nd A m e ric a n c o ns um e rs inte ra c t w ith the b ra nd in d iffe re nt p a r ts o f the c o untr y.

86

T h is p ha s e w ill d e c id e w he the r to e x p a nd O liv e r B o na s into o the r d e p a r tm e nt s to re s a nd fur the r a ro und the U S A o r w he the r to k e e p it to the p o p ula r to uris t a re a s o f the U S . T he launc h o f the e x p a ns io n into K o h l’s w ill b e ma rk e te d th ro ug h a P R e v e nt in w h ic h p o p ula r d e s ig ne rs , influ e nc e rs a nd ho m e e nth us ia s ts w ill b e inv ite d a lo ng to inte ra c t w ith the p ro d uc ts a nd the c o nc e s s io n s ta nd . T he re w ill, b e Ins ta g ra m ma b le s p a c e s , Q R c o d e s w h ic h w ill d ire c t the m to the p ro d uc t o n line a nd ha s hta g s to s ha re a ro und the ir s o c ia l m e d ia a nd s p re a d aw a re ne s s to the ir aud ie nc e s .

87

GANTT CHART

SEPTEMBER NOVEMBER 20 20

NOVEMBER JA N UA R Y

JA N UA R Y M A R C H 20 2 1

M A R C H - M AY

M AY - JU LY

JU LY SEPTEMBER

P H A S E O N E

P H A S E T W O P H A S E T H R E E

P H A S E F O U R

88

89

C O N C LU S I O N

90

91

T h is re p o r t h a s c a re f u lly a n a ly s e d t h e m o s t s u it a b le a n d e ffe c t iv e w a y in w h ic h O liv e r B o n a s c a n s u c c e s s f u lly e n te r t h e U S A m a r k e t u s in g a ra n g e o f s tra te g ic m o d e ls . W it h t h e c o m b in a t io n o f b o t h p rim a r y a n d s e c o n d a r y re s e a rc h it b e c a m e c le a r t h e b e s t w a y fo r O liv e r B o n a s is to b e in tro d u c e d in to t h e U S A u s in g a 4 - p h a s e s tra te g ic m a r k e t p la n w h ic h w o u ld b e c a rrie d o u t o v e r t h e t im e s c a le o f a y e a r.

92

To k e e p in l in e w i t h O l i v e r B o n a s ’ b r a n d a e s t h e t ic , H & M h o m e w o u ld b e t h e b e s t d e c i s io n t o c o l la b o r a t e w i t h , a s t h e y a r e k n o w n f o r c o l la b o r a t in g w i t h d e s ig n e r s a n d a l s o , t h e y a r e in t e r n a t io n a l l y k n o w n a n d d o m in a t e t h e m a r k e t .

93

To e n s u r e t h e e n t r a n c e in t o t h e U S is s u c c e s s f u l, p r o m o t io n a n d m a r k e t in g is k e y . It is v i t a l t h a t O liv e r B o n a s b e g in t o in c r e a s e t h e ir p r o m o t io n a n d a d v e r t is in g b e f o r e t h e y e n t e r t h e U S , w h ic h is w h e r e H & M w ill c o m e in t o p la y .

O liv e r B o n a s h a s s u c c e s s f u l p o s i t io n in g w i t h in t h e U K a lr e a d y b u t t h e y m u s t k e e p t h is u p w h ils t e n t e r in g t h e U S , t h is c a n b e a c h ie v e d b y u p p in g t h e ir a d v e r t is in g o n t e le v is io n , m a g a z in e s a n d s o c ia l m e d ia m a r k e t in g a s 6 5 % o f t h e s u r v e y a u d ie n c e s a id t h e y h a d n e v e r s e e n a O liv e r B o n a s a d v e r t is e m e n t .

94

T h e y c o u ld h a v e a b r a n d a m b a s s a d o r w i t h in t h e U K l i k e Z o e l la o r L y d ia E l i s e M i l le n w h o a r e h ig h l y f o l lo w e d s o c ia l m e d ia in f lu e n c e r s w h o a r e h o m e a n d f a s h io n e n t h u s ia s t s .

T h i s c a n a l s o b e u s e d in t h e U S w i t h in f lu e n c e r s s u c h a s L a u r e n C o n r a d w h o a l s o h a s a la r g e s o c ia l m e d ia f o l lo w in g a n d i s t h e id e a l c o n s u m e r f o r O l i v e r B o n a s .

95

WO OR RK K H HA AR R D, D, ““ W A YY H HA AR R D, D, PP LL A B EE K K II N N D” D” B