A report submitted in fulfillment of the requirement for Fashion Marketing and Contemporary Design Influences FA4001 – Pop Up Shop Project / Individual Report | NALINDA PERERA |
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CONTENT -
Executive Summary Introduction What Is A Pop-Up Store & How It Beneficial? Marketing Mix Plan for The Final Two Weeks Product Plan Financial Plan Promotions Social Media People & Process Store Design Final Trading Day Bibliography
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EXECUTIVE SUMMARRY
Our brand Dilly & Carlo has passed many blockades in retail trading industry around these past 3 decades. We’ve gone through several stages like political inequity, various economical phases, civil conflicts and many more, but succeeded to stay in the top line of the retail industry. Although we’ve a limited consumer base, Somehow Sri Lanka as a developing country, we as a retail industry expertise, we are still lack in the growth of the brand, because of our low brand awareness and limited consumer base. So, to overcome that weaknesses we should adapt more new retail strategies and start toward make different things to step into the global stage. So, the proposed Pop up Store at the Colombo City Center in the upcoming Christmas trading period will be a great opportunity to win every complication, engage more with the customers and increase the brand image and step into a new market phase in the industry.
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INTRODUCTION
In the first section of the report you will learn about the popup shop strategies and how its beneficial for our company and what are the challenges and solutions for the popup as well as the potential business, operational. Ethical and service issues that facing when concluding the popup. And furthermore, about the timeline and how its matching with our marketing aims. Then in the next sections, the marketing mix plan for the final two weeks of trading as well as with the final trading day. Likewise, how this popup engages with our customers and how this creates more brand awareness.
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WHAT IS A POP-UP STORE & HOW IT BENEFICIAL?
Earlier days Pop-Up Strategies bought up as a quick marketing tool to filling space of empty shopping malls. But after marketers has realized this popup store as a good opportunity to increase the sales as well as learn more about customer, increase brand awareness and launch new products. Our company Dilly & Carlo as a traditional retailer, we can use this marketing tool to showcase new or temporary products. As well as to increase brand awareness and to engage more with our target audiences. Pop up stores creates the “inquisitiveness” in customers mind as well as this tool is a customer magnet because Pop-Up makes up the feeling of urgency with “limited” offers.
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Our chosen timeline was Christmas trading period, normally Christmas trading period was starting on in the middle of November and ends on December. So, in this trading period people will shop for Christmas as well as for new year too. In Colombo district majority are Buddhists than Catholics. But in sri lanka in this Christmas period non-Catholics also do shopping as it’s the holiday and year end. Population by religion in Colombo District.
12%
Buddhists
10%8% 70%
Islam
Catholics
Hindu
Our target consumers are the one who willing to pay money for quality and the service, So to attract them were planning to give sneak peaks about our new products, and also tin the popup there will be a stylist apart from our sales team to help customers to choose their style and also inviting them to an exclusive event “ Wine night� happening on the last week at the pop up, thus these kind of promotions will attract our customer circle more.
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MARKETING MIX PLAN
DEC 16DEC 22
Product
DEC 23- DEC 30
Kaftan Resort Collection, Printed linen collection, Linen Collection, Christmas collection
DEC 31
Christmas collection & Printed linen collection
3500 upwards
Price At CCC Ground Floor
Place
Promotion
Card Credit 25% Debit 10%
Collaboration Aesthetiq.Sl Discounted items.
Card Collaboration Credit Special offer for 10 customers 25% from Water Garden Sigiriya Debit Resort. 10% 2-3 sales assistants with the cashier
People Process Physical Evidence
Card payment Facilities, Mobile Payment, Stylist/ designer to help customers, Home delivery for customized products Page
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PRODUCT PLAN
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The product assortment featured in the store will be the latest additions of the current product line, and the launched Christmas collection. Each product reflects the Christmas feeling in a true sri Lankan style, not only for the Christmas shoppers, the products will cater to many different consumers like non-Catholics too.
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FINANCIAL PLAN
(LKR)
EXPENSES
WEEK 5
WEEK 6
PROMOTIONAL
81 500
81 500
163 000
WAGES
18 750
18 750
37 500
UTILITIES
36 250
36 250
72 500
TOTAL
136 500
136 500
273 000
The pop-up will open for six weeks, so in the last two weeks there will be more customers because of the social media and other promotions, following financial plan defines the final two weeks. Starting of the 5 th week income will raise more than other weeks because it’s the week before Christmas. In the last week, which is starting from Dec 23 rd, earnings will increase more than the other weeks because it includes the Christmas day and also the yearend which is the final trading day, people will tend to shop more in this week for last minute shopping purposes and for new year. In Addition, the ongoing promotions will attract more customers like for discounted prices and for giveaways.
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PROMOTIONS
31st Dec
Dec 16Dec 22
Dec23Dec 30
LKR 50 000
Event marketing Wine night Event Social Media Print Media Gifts Viral Marketing
12 000 6 000 85 000 10 000
Special Discounted Vouchers for the audience of “Last Christmas” movie & “Charlies Angels” at CCC Cinema.
TOTAL
163 000
In the final two weeks of the pop up will be more interesting due to promotions, In the final week there will be a wine night to all our loyal customers which is inviting through their emails and a text message, they will receive a special discount code to all the products with good food and good music. In this season people like to enjoy themselves, so this event they will enjoy, and they will buy products with a good discount. And this event will feature on Magazines and newspapers with details of other ongoing promotions. Print media advertising will continue throughout the weeks to attract more of our consumers. In the final two weeks all of our customers who is purchasing over 5000 LKR will receive a Batik Handmade pouch as a promotional gift, the cost for these pouches will be low as this pouches are made of our excess batik fabrics this will be a good profit to the company and as well as a good sustainable movement. In the CCC there are cinema theaters, so in this December month there will be more people coming to watch a movie with family and friends because of the holiday season, So we’ve chosen two movies, that attracts more of our customers which is “The last Christmas” & “Charlies Angles”. So, the audience will receive a special discount of 25% with their movie ticket and with the ticket there will brochure about final trading day give away from Water garden Sigiriya Hotel. Crossover branding is a great tool to popup store, it will increase more customers as the collaborating brands also promote the event. Therefore, we’ve chosen two brands to collaborate with one is Aesthetique.sl, the online jewelry store and collaborating with Water garden Sigiriya Hotel for an exciting giveaway.
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COLLABORATION with Aesthetiq. Sl
We will be giving a separate section for this brand to sell their products at our popup. In an agreement to promote their brand in our social media pages and to promote our popup in their promotional activities. We’ve chose this brand because dilly and this brand shares the same kind of customer basis. Although this brand attracts more younger crowd, they have customers who’s in their middle age too. And this promotion will a good way to step into and experiment a new customer segment.
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COLLABORATON with Water Garden Hotel Sigiriya
Ten customers from the final trading day will receive a one night two days stay at the hotel, this will do through a raffle, any customer who’s purchasing on final trading day can enter to the giveaway. And the same agreement with aesthetiq. Sl will goes with the hotel too.
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SOCIAL MEDIA In sri Lanka people use Facebook more than other social medias (StatCounter Global Stats, 2019), also our target consumer range is more into Facebook than Instagram. So, we will be mainly do our promotions through Facebook alongside with other social media. In Social media advertisings, Facebook and Instagram ads will continue to promote the event till the final trading day. And before the final trading day there will be Facebook, Instagram and YouTube “live sessions” with our followers to tell more about the exciting giveaways and promotions. There will be social media campaign throughout all the weeks with the hashtag of #MeinDilly.
PEOPLE & THE PROCESS In the store there will be three salesmen including the cashier. In addition, there will be a stylist to help the customers to choose styles and sizes. Customer satisfaction is more important, Therefore Card payments are available any time, and a mobile payment service through an app will available for customers. These days in Sri Lanka “Frimi” Mobile payment app is available so this app will use for customers who need to do mobile payment. All the purchase goods will pack in a paper bag as its more ecofriendly. And the interior and the exterior features will be more customer friendly, So the customers won’t feel new to the atmosphere.
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STORE DESIGN
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December 31 is the final trading day of the popup. This day as the last day will be planning to give special prices to all the products as a limited time offer, customers are more attracted to limited time offers as it creates curiosity and sense of urgency in customers mind. As well as with these discounted prices our special giveaway will happen on this day, as mentioned earlier these kind of limited time offers will attracting more customers, so the giveaway will be collaboration with Water garden hotel Sigiriya, every customers who’s purchasing items on 31st will automatically enter to the giveaway and 10 winners will chose through a raffle draw. Winners will receive a one night two days stay at the hotel. These kind of promotions will more attracted to the customers out of our target consumers, because the customers who’s out from our consumer circle is the customer who willing to pay less amount of money and who buy low priced items in a sale, giving low price items in our high margin price points, this will be a trick to attract them. Because most people whose roaming around CCC on the last day is young crowd. Targeting out of our customer range because of on this day which is the year end day our consumers “the millennials” are not the people who’s coming out to shop in last minute or gathers with friends out in a mall, our consumers are more into celebrations at home or a family event , there are in their middle age and tend to celebrate year end with family, as a solution this hotel giveaway will be a bit help to make them attracted to our popup on the last day.
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BIBILIOGRAPHY
Instagram.com. (2019). Dilly & Carlo (@dillyandcarlo) • Instagram photos and videos. [online] Available at: https://www.instagram.com/dillyandcarlo/?hl=en [Accessed 10 Oct. 2019]. Entrepreneur. (2019). Entrepreneur - Start, run and grow your business.. [online] Available at: https://www.entrepreneur.com/ [Accessed 10 Oct. 2019]. Anon, (2019). [online] Available at: http://www.statistics.gov.lk/ [Accessed 10 Oct. 2019].
