MARKETING PLAN

MY TRY ROOM

EXECUTIVE SUMMARY

SITUATION OVERVIEW

Presently, the firm claims to have above 103 live brands on the platform while having 12,000 stores and stockpoints across the country.

On an average, Fynd handles about 80–100 transactions daily with an average ticket size of above INR 2,000.The firm also claims that the current traction is growing at 30 per cent week-on-week

Following an app-only strategy, 65–70 per cent of their orders are from unique customers, with men’s T-shirts and women’s tops being the highest sold categories. Nike, Being Human, and Fab India are the most purchased brands.

On a revenue front, the firm charges a commission of 20 per cent from brands for every transaction made or product sold.

The firm also plans to expand their presence to Delhi and Bengaluru by the end of next month, with Pune also being in the radar of expansion. 

COMPANY’S GOAL

Fynd aims to partner with offline brand stores near your vicinity, giving you the latest in-season fashion at the store price, while applying discounts only when there is a discount in the store.

COMPANY’S GOAL

PROPOSED COURSE OF ACTOIN

The customers also get fitting option ‘Fynd a Fit’, where if a certain consumer has asked for a size M, a size L will also be carried by the delivery personnel to be sure of the fitting. In case the size is right, then customers can take one of the offered options or return the product altogether.

The basics of e-commerce remains the same. Instant gratification and best customer experience will get customer loyalty, while discount is just an added layer to the offering.

FYND IS THE CENTRAL ONLINE SHOPPING DESTINATION FOR FASHION ,OFFERING CLOTHING FOR MEN ,WOMEN AND KIDS,WALLETS,HAND BAGS ,FOOTWEAR, AND OTHER ACCESSORIES FOR MEN AND WOMEN.

SITUATION ANALYSISCOMPANY OVERVIEW

PIVOTED FROM SHOPSENSE , A B2B RETAIL AND INVENTORY MANAGEMENT SOLUTION , TO FYND , A B2C E-COMMERCE MARKETPLACE.

COMPANY OVERVIEW

CO-FOUNDERS OF FYND

FAROOQ ADAM, HARSH SHAH , SREERAMAN

MARKET OVERVIEWFynd started on-ground activations, social media marketing followed by ad push from mobile ad networks like InMobi and STG Media.The activations were apparel based, with graphic tees finding marketing done in colleges and startups while office apparels saw the team going to bigger offices in Lower Parel.Today, Fynd has 97,000 downloads on Play Store with 8,000 on iOS.

When it comes to downloads, targeted marketing does the trick. Fynd is not like its other contemporaries in the market, rather it focuses more on helping the existing offline stores come online without changing any dynamics. 

Target consumersWomenMenKidsMiddle and upper classDemographic segment

Men’s T-shirts and women’s tops being the highest sold categories. Nike, Being Human, and Fab India are the most purchased brands.

Fynd also holds campaign partnerships which is similar to ‘Brand Days’ held by other e-commerce websites. Brand partnerships lead to 38 per cent of conversions on the platform in terms of sales.

The response to recently held ‘Bhai ki Party’ for Being Human and partnerships for Nike and Puma around the Mumbai Marathon, was phenomenal.

With the business taking its course, we’ll have to watch out whether Fynd keeps up with its conversions and is well received in markets like Bengaluru and Delhi.

GOAL

How Fynd will register its uniqueness into the hearts of customers through fitting and same-day deliveries???

STRATEGYTARGET MARKET AND VALUE PROPOSITION

TARGET CONSUMERS

 It has been fashioned keeping in mind the target audience aged 18-30, especially those who are new to corporate life and are always looking to make smart style choices.

Strategic business unit

What makes Fynd unique is that it helps to connect customers with precisely the kind of fashion they are looking for.

The USP of Fynd is that it sources all its products via the brand store itself. This is a strength which is currently unchallenged by any competing fashion brand

COMPETITORS

1.Fynd’s contemporaries like Jabong have not really been able to fire all cylinders with their backers.

2.The game is also getting fiercer with Snapdeal trying to strengthen its fashion focus through acquiring Exclusively.com. 

3.Amazon is also trying to ramp its popularity on their fashion offerings by providing high discounts.

4.Their direct competition Myntra says that they are on a higher road to clock $1 billion  in GMV in 2016, with their app-only strategy still being on a testing plate.

Fynd is backed by Kae Capital, Powai Lake Ventures, Kunal Bahl & Rohit Bansal (Snapdeal founders) among others.

COLLABORATORS

FYND IS AVAILABLE FOR FREE ON BOTH GOOGLE PLAY STORE AND APP STORE (FOR IOS). YOU CAN DOWNLOAD AND ONE CAN INSTALL THE APP HERE : HTTP://GO.FYNDI.NG/FLASHPAYPR

BARELY INTO THE SECOND MONTH OF ITS LAUNCH, FYND HAS ALREADY GOT MORE THAN 50,000 DOWNLOADS WITH A CONSISTENT USER RATING OF 4.3/5 ON GOOGLE PLAY STORE.

REVENUE

The firm charges a commission of 20 per cent from brands for every transaction made or product sold.

TACTICS

Fynd, the fashion e-commerce portal, has launched its new digital campaign. The campaign brings to the fore the unique offerings and services on Fynd.

The video ad captures a common question that fashion savvy people in India are often asked i.e. Kahan se liya (Where did you buy this from?).

With Fynd being the answer, the ad drives home the unique appeal of the platform in the most relatable and appealing of ways.

Through this digital campaign, Fynd aims to establish how it

is different from other e-commerce players in the

market and underlines its proposition as the portal which sources products

directly from multiple brand stores and offers customers

only the latest and authentic products.

Nearby fashion shopping app Fynd launches MY TRY ROOM, revolutionizing offline trial room.

Generally, it’s a confusive process if one wants to shop on any popular mobile app as whether the dress fits one or not. This compromises the shopping experience and also leads to a lot of customer slippage in the process.  

Though the entire shopping experience on Fynd was seamless, there is no app that provides the comfort of finding a well fitting dress offline.

This is a highly ambitious project. After tons of research, design iterations and countless anxious nights, this can be finally accomplished.

MY TRY ROOM- a revolutionary offline trial room feature which is not only seamless but also helps customers have a fitting satisfaction in the same way how they buy dresses going to a shop.

Not only dresses but also you can try other accessories like earrings ,bangles , eyeglasses , shoes , slippers etc.

The free version of the app can be available for first five years after which the premium version needs to be upgraed so that the conversion is possible.

PRICE of the premium version can be $70 this can add up to the revenue of the company .

The premium version paves way for the more discounts and offers that are much personalised that is the discounts differ based on the usage of the app previously for purchases and also depends on the amount of purchase done .

One can get membership cards upon upgrading.

The key aspects of the offering are communicated via the Googleapp store and istores.

DISTRIBUTIONThe fynd is just an app that connects the clothing shop to customers via the mobile.It can create campaigns in malls , colleges attracting mainly the teens .The campaigns can be some offers during the festive seasons or some discounts on purchase when the new MY TRY ROOM app is downloaded ……..

IMPLEMENTATION

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AS PER ESTIMATION

Development time of this feature on the app would be approximately 2 months .

The team should relentlessly work towards improving the shopping experience on the app and has some really exciting features in the pipeline.

Introducing this feature would increase the app’s popularity.

This would further differentiate “FYND” from its rivalries like “AMAZON”, ”JABONG”,”MYNTRA”.

The app brings home the real feeling of shopping in a boutique………

THANK YOU FOR SHOPPING