Business for creative industries (Year 3)

SuSmon 100% sustainable cashmere

Business Plan

Nomin-Erdene Surenjav Student ID: 24397741

SuSmon 100% sustainable cashmere

Contents 1. Business summary

1.1 Product and Product ranges 1.2 Price 1.3 Place 1.4 Unique Selling Point

2. Why Cashmere?

3. Market Analysis

3.1 Porter’s five forces analysis 3.2 UK cashmere industry 3.3 Competitors Analysis

4. Market Plan

4.1 Market Position 4.2 Positioning Map 4.3 Target Customers 4.4 Promotion Plan

5. Finance 6. Risk Assessment 7. Appendix 8. References

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SuSmon 100% sustainable cashmere

Business Summary The proposed business venture is to introduce a “Cashmere” concept store in Winchester.

Cashmere is a fibre obtained from goats and it is used to produce soft luxurious apparel.

SuSmon aims to sit in the high-end and products are available to purchase in-stores and online. The products are made from hundred percent cashmere for women’s clothing and lifestyle products. The design philosophy is creating a piece that is fashion forward and exciting. The products’ unique selling point is a creative design with high quality and usage of world’s finest material cashmere.

SuSmon is incorporated joint arrangement partnering with designers and suppliers. The supply chain in the cashmere industry is complex and involves a large number of partners and a demand chain is geographically relatively distant. The sophisticated designs built in the design office will be sent to subcontractor in Mongolia with non-disclosure policy signed by the partnering company. The quality inspections will be conducted periodically at the subcontractor facilities hence forth, SuSmon maintains its quality and keeps its strategic positioning at the high end markets. SuSmon will sub contract with Mongolian cashmere manufacturer and the products will be sourced

from Mongolia.

Mission

SuSmon aims to maintain high customer satisfaction and customer retention rate as in the current instable economic condition these two are perhaps the most two important factors for the success and profit sustainability of an entity.

Objectives

Spread awareness of the store To establish a customer base Build a strong relationship with suppliers

Financial

Susmon aims to take a turnover of £40,000 in the fist year and achieve 8% growth on sales the following 2 years.

Keys to Success

Unique design 100% cashmere The success of the businesses in cashmere industry is affected by the responsiveness on the customer demand from the companies. Hence, SuSmon overlooks our customers needs and fulfil this demand.

Key Performance Indicators Customers Satisfaction Retention rate

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SuSmon 100% sustainable cashmere

Product and Product ranges

The concept of the product is good quality women’s and lifestyle’s products expertise with modern, fashion forward clothing and comfortable women’s clothing. The general concept of our collection is casual clean everyday wear and the design is inspired by nature beauty and feminine. We use unique prints and diverse colours on our products and some collections are mixed with other luxury materials such as silk and fur to distinguish from other cashmere brands.

The products are wearable in any season.

For spring and summer, we use Featherweight cashmere and it is lightweight and delicate with a semi-sheet appearance. it is light enough to keep consumers cool during warmer temperatures, and can be layered during a cool breeze.

Furthermore, the brand sells accessories such as scarf, shawl, wrap and hat and small range of lifestyle products such as bedspread,cushion covers and throws. Lifestyle product will add value to the retail concept by attracting a wider range of consumers.

Price

SuSmon is high-end brand that Womenswear clothing price points start from £100 to £400 depending on type of the product. The sweater price is around £180 to £300. According to the Coleman,C 2012 stated that while a top-end cashmere sweater can sell for anything from £200 to £300, on the High Street the prices are all under £100, ranging from Tesco’s £40 to Gap’s £89.95.

Place

Winchester is a unique heritage and creative artistic city that it is surrounded by local markets town and offering from a big name brands to independent and boutiques stores. Winchester is an attractive historic city that would be great environment for SuSmon as a brand values of creative, quality and independence. The store will located in City centre where easily accessible to transports and just an hour away from London by train. Furthermore, local residents and tourists in Winchester are perfect fit as our target customers and most likely to connect with our brand to visit our stores.

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SuSmon 100% sustainable cashmere

Unique selling Point

“Personal branding describes the process by which individuals and entrepreneurs differentiate themselves and stand out from a crowd by identifying and articulating their unique value proposition, whether professional or personal, and then leverage it across platforms with a consistent message and image to achieve a specific goal.�

(Jackson,T and Shaw,D 2009)

Quality

The overall view of the products, in maintaining a strong emphasis on quality of 100% cashmere and bringing casual comfy style.

Cashmere is renewable natural resource and It naturally has a protective layer that prevents stains from being absorbed and is breathable. Having this natural ability to breathe, it can absorb up to 35 percent of its own weight in moisture. Like most natural fibres it is 100 percent biodegradable. Furthermore, once the fibre is disposed of, it can serve as compost to fertilize the soil. It is not flammable; it burns slowly and does not emit toxic gas. It is a good insulating material, serving as effective insulation against warmth and cold which also known as a four seasons’ fibre (Marie-Eve Faust.2013).

Fashion Forward

Cashmere product most likely to be plain and less trendy yet, SuSmon will use latest technology to produce fashionable cashmere products to distinguish themselves from the competitors.

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SuSmon 100% sustainable cashmere

Why Cashmere ?

Renewable natural resource

In recent, the climate change, population growth, and shortages of key resources are affecting the industry and it will continue in the future. Therefore, the consumers attitude towards eco clothing will change significantly to become more conscious about worsening environmental issues. Eco clothing is combining high quality clothing with socially conscious environmentalism, has become a faction which made from hundred percent organic materials. “UK sales of organic textiles are now estimated to be worth over £100 million, while last year the SA saw the turnover of its 79 textile licensees increase by 2% to £12 million”. (Smithers,R 2012).

Weather

Cashmere is suitable for any UK seasons.

In winter and autumn, the weather is cold and mildly and heavily windy across coastal areas. Hence, cashmere is the perfect investment for any season’s wardrobe as this is a durable fabric.

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SuSmon 100% sustainable cashmere

Market analysis Porter's Five Analysis

In the cashmere industry, there is not much barriers to entry into the market. For example, new entrants can set up a strategic partnership with retailers to sell more of the products and so there is no need to invest a big sum of money into building new factories. In this way, there is almost a zero initial investment excluding the contract fees and profit share with the business partner. Furthermore, competitors are more less than competing other clothing industry i.e. this is a monetary substitute force. Hence, customers have limited money to buy the products and often dependant on their priority and the buying behaviour. However, the supply chain in the cashmere industry is complex, generally with a large number of partners involved and a demand chain is geographically relatively long. Therefore, SuSmon is sourcing raw materials and manufactured in Mongolia.

Mongolia is the second largest producer of cashmere in the world. Furthermore, the consumer has less bargaining power because the brand is positioned in niche segment of the market.

UK cashmere industry

Cashmere is the world’s rarest production fibre and is one of the most expensive in nature. Cashmere reached Western Europe in the 1700s, led by the fashion-setting Empress Eugenie, wife of Napoleon III of France Dr Nick Fiddes. For the UK industry, Scotland produce cashmere products and quality is a result both of using only the finest raw materials, and the good skilled and careful production process.

The Textiles Industry is important to the Scottish economy. It employs 22,000 people and with an output of £1.2 billion contributes £500 million to the country’s manufactured exports. (BlackleyA, & Smith, J 2003). The Scottish Borders is heavily dependent on this industry and in particular knitwear, which employs around 4,000 people. However, these days high street retail brands start selling cheap cashmere products which produced in China. Furthermore, according to Scottish Enterprise National Textiles Team stated that “Todd & Duncan suggest that the competition the company faces from low cost locations is both direct, from Chinese spinners, and indirect, from the growth of Chinese knitters taking market share from European customers”. Thus, UK cashmere businesses recognise that if they are to effectively respond to changing consumer demands and to differentiate themselves in the market, they could focus on design; flexibility; quality of service; and branding to differentiate from the high street brands (ECOTEC,2007).

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Competitors Analysis

In UK cashmere industry, most companies’ cashmere products are made in Scotland and the style are more simple casual and British heritage.

Furthermore, others such as big retailers sell cashmere products and the price is cheaper than small boutique or smaller retailers. For example, M&S and Uniqlo jumper price are approximately £100 yet, small retailers such as Brora and Hawick’s jumpers are sold for more than £200. One of the reason is where it is made and sourced from. The products made in Scotland are more luxurious thus, it is much more expensive than the products made in any other countries. Often the products bear high overheads because of the salary of the skilled workers in the Scotland based factories.

Furthermore, these traditional cashmere produces often require hand made elements design. These skilled workforces are sooner at the retirement age and recruiting new people is hard and it takes on average at least a year to train an employee being

able to start working and three years to become fully capable of working on difficult hand crafted elements.

The other reason, The Brora and Hawick are focused in high-end customers comparing to the M&S and Uniqlo high street brands.

Furthermore, the most cashmere products are more likely to be less fashionable and having less graphics or patterns on it. SuSmon products are well diversified than the rivals in the cashmere market through fashion forward overlooked designs and inspirational patterns and colours are printed on the cashmere products. Therefore, SuSmon exploits this niche gap in the market providing more fashion forward and use of more patterns to distinguish us from our competitors. The price will be around £200 to £300 because of its high quality.

There isn’t any cashmere focused store in Winchester that there is not any direct competitors. However, M&S and White Collection sell small range of cashmere. the local competitors will be M&S and White Collection, Jigsaw and Hobbs and so on.

Table 1 Competitor

Price

Quality

Style

Market

Target Customers

Strengths

Weakness

Brora

£280-£380

High

Bohemian casual colourful

Luxury

- Yummy

Quality Made in Scotland

- Management

Johnston of Elgin

£300-£400

High

Simple

Luxury

-People who Quality prefer more Own factory quality product rather than design

- Less trendy

Hawick

£400

High

Simple classic Luxury

- Upper class High - Fashion

-No online shopping

mummies - Middle to upper class

conscious

M&S

£70-£130

Middle

Classic Trendy

High-street

- Middle

Affordable luxury product

Uniqlo

£50-£80

Middle

Simple and trendy

High-street

- Middle

Affordable luxury product

Pure Collection

£100-£300

High

Trendy

High-End

-Middle class

- Sustainable - Trendy

class

class

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Market Plan Market position

The brand aims to sit between high street and designer; alongside the likes of Whistles, White Collection . The clothing is built as a brand engaging with online networking and e-commerce to attract customers internationally to the online store and the brand opens a store in Winchester and plan to have more stores in London and major cities throughout UK. The SuSmon is looking to provide its customers with high quality fashion forward design collections. The company seeks to fulfil the following benefits that are important to their customers.

1. Choices: Customers demand a fashion forward collections. There is a gap in the market, lacking of fashionable cashmere brands in UK, no one has the braveness to be different and shifting from the traditional designs.

2. Quality: The products are made from 100% cashmere and produced with high technology manufacture.

3. Services: Consumers are more likely to purchase from companies that have good services as the priority. The SuSmon targets to give response on enquiries made from customers within 24 hours.

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Target Customers

It is vital to understand our target customers and their buying behaviour in order to position in the market successfully. In winchester, national statistics shows a population of 22,010 people aged between 30 to 44 living in this area. (See appendix 1) Therefore, it is essential to group up the customers and observe our customers’ buying behaviour and engage with the customers in store to encourage more sales.

Geographic Region: UK City: Winchester (Tourists and residents) Demographic Age: 28-40s Income: ÂŁ 30,000+.

Sex: female Marital Status: married Family Size: middle size Occupation: high powered professional jobs and typically have in property in area or housewife that look after children.

Lifestyle: modern yet traditional Social cultural Cultural: European style Social Class: Upper middle class Family Lifestyle cycle: housewife or independent yummy mummy Use related segmentation Usage rate: Medium users Awareness status: environment and looking after the skin and health, by wearing clothes that feel good Brand loyalty: strong Usage Related Segmentation Spending attitude: A natural spender, who spends her money wisely on products that she thinks benefit her, the brand appeals to women who appreciate the clean, comfy and classic and famine Benefit wanted: quality, trendy practical luxury.

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Promotion plan

Being able to market and sell the products cost-effectively is one of the most important aspects of running a business. Promoting the business tells potential customer about our existence and entices them to buy from us.

SuSmon brand employs Public Relations, Direct Marketing, Internet and Social Media to market and advertise us.

Internet Adults aged 25 to 34 reported the highest level of use in many of the activities surveyed, in particular day-to-day activities such as sending emails (89%) and finding information about goods and services (77%). This trend is particularly evident when considering online banking where over three quarters (76%) of those aged 25 to 34 accessed their bank accounts over the Internet. This compares to only half of all adults (50%).

Susmon Online Website The website will launch in 2016 under the pre-existing domain of www.susmon.com.

The website will ensure it is compatible with all devices to keep up with the growing technological demand.

Furthermore, the website is not only for selling the goods, it also includes the healthy lifestyle blog. The blog will advise how to style our products and how it is made, also advice from DIY projects to beauty in the direction of sustainable living. This demonstrates our interactivity with our customers and shows them that we listen and respond to our customers needs.

Social Media The SuSmon targets to advertise on a range of social media websites such as Facebook, Twitter, google plus and youtube. Social networks connect with a world of potential customers that potential customers are everywhere and can visit online stores hence, overseas sales increases.

According to the ONS (Office of national statistics) (ons.gov.uk) stated that 66% of age between 35 to 44 people use social networking.

Social media supports what is published on the company blog and website and encourage the consumers to visit the official website and the blog website. Furthermore, it is more beneficial in many ways that social media helps companies build a relationships with the consumers, helps the company to build their brand, an awareness of negative publicity and the latest promotions.

Direct Marketing Direct Marketing is one of the popular communication tools to use in developing new brands.

It is about direct communications attempting to create personal relationship and covers direct mail via post or email, mail order catalogues, text message alert and magazine insert. According to the ONS has shown that 86% age of 35 to 44 internet users are sending emails and receiving emails.

Therefore, SuSmon is willing to send 50 emails per day. However, finding the consumer contact is all linked with official website and instore that we will have contact for the number of consumers order our products or registered in websites and in-store. In-store, we will ask customers to register in our brand hence, we will be able to send them our monthly catalogues which includes promotional discounts sheets and photos of new collections .This tool may begin with inefficient results but over time it would deliver better results.

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Public Relation PR is arguably the most important communication tool available to fashion marketers and it is efficient while working with a tight budget. Cutlip (2000) defines Public Relation is a marketing activity that generates publicity with a focus on developing and maintaining mutually beneficial relationships. SuSmon is using this tool to encourage bloggers to discuss our brand. The Blogs will be related with fashion and green lifestyle such as Cupcakes and Cashmere and Cashmere lover.

SuSmon 100% sustainable cashmere

Events SuSmon’s first event will be its opening store and it will offer 5% discounts, and stylish sales assistants will help consumers to choose products. In the future, the company will do more events to attract customers and build a customers base.

SuSmon 100% sustainable cashmere

SuSmon 100% sustainable cashmere

A/W 2015 New Collection In-Store

A/W 2015 New Collection In-Store

SuSmon

SuSmon

100% sustainable cashmere

100% sustainable cashmere

A/W 2015 New Collection In-Store A/W 2015 New Collection In-Store

A/W 2015 New Collection In-Store

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SuSmon 100% sustainable cashmere

Financial plan The figure 2 demonstrates the first year cash flow including the from the cash in and cash out on the business startup.

I propose a loan of £25,000 to help on the start up costs for the first 6 months of the business, after that SuSmon will have substantial balance from the business to pay monthly expenditures. £500 monthly payment to repay loan over a period of 5 years with around 3.2% interest rate. Furthermore, the owner’s saving money of £10,000 and family support of £5,000 will be topped up on it. As a result the business will start with total of £40,000. I will sufficiently fund my personal living for the first six months before taking a wage from the business of £1000 a month Pre Start Opening cash balance

thereafter.

The projection of sales care reflected on the time of year and March and July will produce less profits. There are two reasons. Firstly, customer may buy less cashmere products during the spring and summer. Secondly, Spring summer collection will prices are less than Autumn Winter collection. In August is the traditional summer sale through until September which leftover stock from June will be sold at discounted price of 20% to 40% and clean the stock room for AW collection. October to end of September and Christmas time is the sales peak time and will generate more profits in this period. In december it is the highest sales with Cashflow the £18,000.

September

November

October December (Christmas)

January (January sale)

Febraury

£10020.00

£14140.00

£20260.00

£27380.00

£40500.00

£45720.

£8,000.00

£10,000.00

£15,000.00

£18,000.00

£10,000.00

£9,000.

Cash In Sales Owner Capital

£10,000.00

Bank Loan

£25,000.00

Other (Family)

£5,000.00

Total Cash in

£40,000.00

£18020.00

£24140.00

£35260.00

£45380.00

£50500.00

£54720.

Material and Manufacturing

£4,000.00

£0.00

£0.00

£2000.00

£0.00

£0.00

£4000.

Transport

£1,500.00

£0.00

£0.00

£300.00

£0.00

£0.00

£800.

Rent

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.

£20,000.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.

Wages

£0.00

£0.00

£0.00

£1000.00

£1000.00

£1000.00

£1000.

Water

£25.00

£25.00

£25.00

£25.00

£25.00

£25.00

£25.

Light and heating

£35.00

£35.00

£35.00

£35.00

£35.00

£35.00

£35.

Broadband (internet/telephone)

£30.00

£30.00

£30.00

£30.00

£30.00

£30.00

£30.

Stock Insurance

£40.00

£40.00

£40.00

£40.00

£40.00

£40.00

£40.

Building Insurance

£50.00

£50.00

£50.00

£50.00

£50.00

£50.00

£50.

Marketing

£500.00

£200.00

£200.00

£300.00

£200.00

£100.00

£0.

Repairs/Renewels

£300.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.

Loan repayment

£500.00

£500.00

£500.00

£500.00

£500.00

£500.00

£500.

Total Cash Out

£29980.00

£3880.00

£3880.00

£7880.00

£4880.00

£4780.00

£9480.

Closing Cash Balance

£10020.00

£14140.00

£20260.00

£27380.00

£40500.00

£45720.00

£45240.

Cash Out

Equipments (decoration)

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SuSmon 100% sustainable cashmere

As our suppliers are in Mongolia that the transport fee is relatively high and also cashmere is luxury fibre that it costs high to manufacture. Therefore, the material and manufacturing costs are around £4000 and transport cost is £1,500 for the year.

The retail property cost in Winchester is around £30,000 per year (Movehut, 2014).

Our brand plans to rent a 600 square feet property in city centre area and we are limiting this to maximum of £40,000 per annum.

Moreover, SuSmon will spend £20,000 for decorations and equipments at the start up and for repairs and maintenance of equipments £300 is allocated for the year. It looks

Cashflow

nuary anuary sale)

Febraury

relatively low because assets which could arise big sum of cost, are insured. For instance, we bought building and stock insurance with a combined cost of £90 per month. Stock insurance is important that if stockroom is damaged and theft of tools and machineries, the stock insurance option will help set company’s mind at rest.

Moreover, SuSmon hires a part time worker from October onwards and salary will be £1,000 per month, ideally I would like to hire a student above age of 18 to ensure they have a long term commitment at Susmon.

Assessing the outgoings and income, in order to break even SuSmon will need to do weekly sales of £1,900 and monthly around £7,600.

March

April

May

June

July

August Total

£40500.00

£45720.00

£45240.00

£47560.00

£45030.00

£46350.00

£44470.00

£45790.00

£10,000.00

£9,000.00

£7,000.00

£7,000.00

£6,000.00

£6,000.00

£6,000.00

£7,000.00

£109,000.00 £70,000.00 £25,000.00 £5,000.00

£50500.00

£54720.00

£52240.00

£54560.00

£51030.00

£52350.00

£50470.00

£52790.00

£209,000.00

£0.00

£4000.00

£0.00

£4000.00

£0.00

£2000.00

£0.00

£0.00

£16000.00

£0.00

£800.00

£0.00

£800.00

£0.00

£600.00

£0.00

£0.00

£4000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£3,000.00

£39,000.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.00

£20000.00

£1000.00

£1000.00

£1000.00

£1000.00

£1000.00

£1000.00

£1000.00

£1000.00

£10000.00

£25.00

£25.00

£25.00

£25.00

£25.00

£25.00

£25.00

£25.00

£325.00

£35.00

£35.00

£35.00

£35.00

£35.00

£35.00

£35.00

£35.00

£455.00

£30.00

£30.00

£30.00

£30.00

£30.00

£30.00

£30.00

£30.00

£390.00

£40.00

£40.00

£40.00

£40.00

£40.00

£40.00

£40.00

£40.00

£520.00

£50.00

£50.00

£50.00

£50.00

£50.00

£50.00

£50.00

£50.00

£650.00

£100.00

£0.00

£0.00

£0.00

£0.00

£100.00

£0.00

£0.00

£1600.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.00

£0.00

£300.00

£500.00

£500.00

£500.00

£500.00

£500.00

£500.00

£500.00

£500.00

£6500.00

£4780.00

£9480.00

£4680.00

£9530.00

£4680.00

£7880.00

£4680.00

£4680.00

£100890.00

£45720.00

£45240.00

£47560.00

£45030.00

£46350.00

£44470.00

£45790.00

£48110.00

£480570.00

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Risk Assessment Every businesses in the cashmere industry are facing certain level of risks could affect the business in the future. Starting up fashion store has a number business risks stated as follows: Suppliers Inbound logistics may delay because SuSmon is supplying from central asia. This could lead to delay of despatch the products or wanted products from customers will be unavailable in store . Therefore brand will design products 6 months in advance and products arrive in store in a month advance before start displaying in store. Raw material cost is unpredictable and it may increase over time. Therefore, we will secure reliable and stable supplier with a long term contract.

In-store If the renting property has any damages, I will conduct a building survey to make sure

the structure of the building is structurally safe.

Moreover, Susmon has building and stock insurance that can minimise this risk.

Health Susmon is family business which employees are mother and sister which I will look to get sufficient help from the family. During the sick leave family members can cover the sales assistant position.

Demand fall For Spring Summer time, the sale might drop because the common belief that cashmere is not suitable for warmer seasons. Hence, SuSmon considers to educate customers through our marketing campaign and advertisements. Therefore, we will promote our summer Featherweight cashmere and to knowledge the customers saying “ cashmere is not only for winter�. Moreover, the design will use summary color such as pastel colours with lightweight and semi-sheet appearance.

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Business Canvas A business model describes the rationale of how an organization creates, delivers and captures value. (Osterwalder, A and Pigneur, Y 2010). Osterwalder, A 2010 stated that The Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with nine building blocks:

-Customer segment -Value Propositions -Channels -Customer Relationships -Revenue Streams -Key Resources -Key Activities -Key Partnerships -Cost structure

Susmon cashmere business canvas: Key Partners

- Manufacturers - Packaging

Key Activities - Product Design - Packeging -Marketing

Value Proposition

- Quality of Material 100% cashmere Softness - Design Creative and uniqueness of the style.

Comfy

Cost Structure

- Social media (Facebook, Instegramm, Twitter, Pinterest) - Website - Loyalty card -

Channels

Key Resources

- Retail Store - Social Media - World of Mouth - Online Networks - Local Events

- Designers - Manufacturing facilities - Supply chains - Marketing Channels

- Materials - Production and Manufacturing - Delivery cost - Marketing - Packaging

Customer Relationships

-Product sales

Customer Segments

Niche Market Region: UK City: Winchester (Tourists and residents) Age: 30 to 55.

Income: ÂŁ 45,000+.

Sex: female Marital Status: married Family Size: middle size Occupation: creative professionals Lifestyle: modern yet traditional Awareness status: environment and looking after the skin and health, by wearing clothes that feel good Brand loyalty: strong Spending attitude: A natural spender, who spends her money wisely on products that she thinks benefit her, The brand appeals to women who appreciate the clean, confy and classic Benefit wanted: quality, trendy practical luxury.

Revenue Streams

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SuSmon 100% sustainable cashmere

Appendices

Internet

Appendices 1 Figure 1: Daily computer use by age group, 2006 and 2013 % 2006 2013

16-24

25-34

35-44

45-54

55-64

65+

All

63 88

61 84

63 80

56 76

36 67

9 37

45 70

Base: Adults (aged 16+) in Great Britain

Source: Office for National Statistics

Figure 4: Internet activities by age group, 2013 % Reading or downloading Social Using services online news, networking, eg related to travel or newspapers or Facebook or travel magazines Twitter accommodation 16-24 25-34 35-44 45-54 55-64 65+

69 72 66 57 49 23

93 84 66 50 29 11

Seeking Internet health related banking information

46 65 58 56 51 29

Base: Adults (aged 16+) in Great Britain

55 76 62 50 43 23

46 59 56 41 41 21

Selling goods or services over the Internet 33 45 34 31 19 10

Source: Office for National Statistics

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SuSmon 100% sustainable cashmere

Appendices: Customer Pen Portrait

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SuSmon 100% sustainable cashmere

Appendices: Store Insperation

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SuSmon 100% sustainable cashmere

References Books Branagan, A (2011). The Essential Guide to Business for Artist and Designers (First edition). London: Bloomsbury.

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Osterwalder, A and Pignuer, Y (2010). Business Model Generation (First edition). United State of America: John Wiley & Sons.

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