About Fashion and You E commerce company ..
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Transcript of About Fashion and You E commerce company ..
By
Rahul Kumar (33177) B.com ( H ) sec - B 3rd Year
Projecton Shivam Saini ( 33166 )
Atma Ram Sanatan Dharam College Projec
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ACKNOWLEDGEMENT
I take this opportunity to express my profound gratitude and deep regards to my guide ( Mrs.Manika Jain ) for her exemplary guidance, monitoring and constant encouragement throughout the course of this thesis. The blessing, help and guidance given by her time to time shall carry me a long way in the journey of life on which I
am about to embark.
I also take this opportunity to express a deep sense of gratitude to her , for giving us a wonderful project on the topic “ lifecycle of Fashionandyou.com“ .
Lastly, I thank almighty, my parents , sisters and friends for their constant encouragement without which this project would not be possible.
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Table Of ContentTopic Page No.
Introduction (History Of FNY ) 1-to-3 Launching A Business On The Internet 4-to-9
The Various Phases In Life Cycle Approach 10-to-43
Planning Phase Infrastructure phase Design Phase Marketing Phase Fulfillment Phase Maintenance And Enhancement Phase Feedback Phase
10-1415-1920-2324-2930-3536- 3940-43
Product And Target Customers 44 Competitor’s Analysis 45-49 SWOT Analysis 50-53
Conclusion 54 Bibliography 55Proj
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Introduction( History Of Fashion & you )
Fashion and You is a private invitation only shopping club ,based in Gurgaon, India.
It was founded by Harish Bahl in November, 2009
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www.fashionandyou.com is an online shopping website (online selling – apparels and home décor items) which offers international and Indian designer apparels for women, men and children and also home furnishing brands. It not only makes luxury brands accessible in the metropolitan cities but also to the tier 2 and tier 3 markets at deep
discounts. Since its inception in 2010 it has achieved a 3.6 million member base across 1200 location pan India, and employs more than 750 people, it is also the first ones to achieve over a million fan‐base
on social media in the online fashion and lifestyle segment worldwide.
Fashion and you is a venture of smile group, responsible for other e‐commerce initiative like Bestylish.com, dealsandyou.com, FreeCultr.com and Juvalia.in . It is a part Brand Alliance, an
international organization formed by major private sales companies in Brazil, Turkey, Mexico, Australia, the Middle East, the USA, India,
Russia and Switzerland.
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The website gives its members access to best of international luxury, hi‐fashion, lifestyle brands & designer labels at up to 80% off retail.
With multiple options for women, men and kids, the offering include apparel, footwear, accessories, fragrances, watches, cosmetics,
home and lifestyle products. These offerings are then made available to customer through limited time windows. The members are notified
about the sale events by e‐mailers, SMS and through the social networking pages.
The website is very user friendly and creates a unique shopping experience for all of its customers. Their customer care service is very efficient and most of the customer queries are being solved by the executives. The company is known for its prompt and fast delivery
system. The brand differentiates itself from others by being the most active brand of its kind on social media platforms with an extremely
aggressive progressive approach.
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Each sale will start at 11 AM and last for 3 days on an average . Members will be prepped and notified about the upcoming exclusive sale events in advance, by e‐mails, SMS and Fashion and You’s social networking sites. Premium collections of hand‐selected merchandise will be available at the beginning of each sale. Make sure you log on
early to bag the best deal.
Fashionandyou.com takes the drool‐worthy world of indulgence to another level with the introduction of “Fashionandyou Juniors”.
Catering to kids, babies, busy parents, and moms‐to‐be, this shop is filled with fabulous apparel, travel accessories, toys, essentials, and
more, tailored to families and their growing needs.
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Another cost savings can be seen with inventory. E‐commerce businesses don't face the same demands of brick‐and‐mortar businesses, which must be fully stocked at all times. They can keep inventory low by using drop‐shipping methods, in which products are shipped to consumers straight from the manufacturer.
E‐commerce operations are also easily scalable, meaning it is easy to start off small and expand as needed. That can be much tougher with brick‐and‐mortar businesses, since growing in that case often means finding a new, larger location to house the businesses. With that comes an added expense that e‐commerce businesses don't face when they are growing.
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Cons of e-commerce
It's not all perfect with e‐commerce businesses. Among the drawbacks are that they often lose out on the ability to interact with their customers in person. Brick‐and‐mortar businesses can build their customer base by building personal relationships with customers. E‐commerce businesses don't have that option, which makes it even more critical for them to ensure a smooth business transaction.
Another negative to running an e‐commerce venture is that competition is cutthroat. For each online business, there are at least another 10 businesses selling the same thing. There are hundreds of thousands e‐commerce sites worldwide, meaning online businesses are forced to work even harder than brick‐and‐mortar businesses to stand out from the crowd.
Finally, e‐commerce businesses are subject to technical issues that brick‐and‐mortar locations aren't. E‐commerce businesses are run completely online, so if something goes wrong with the website, credit card processor or any of the other aspect of the operation, the business has to shut down to be fixed. While some of these problems may be out of the business owner's hands, they still can end in the same result: lost money and lost customers.
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What's needed for an e-commerce business
While opening an e‐commerce business can be relatively easy, there are a number of things needed to get started. Here is a rundown of everything an entrepreneur must have to open an e‐commerce business:
Product to sell:Most importantly, small business owners need something they can sell. The good news is that with the Internet, this can be basically anything. Big or small, expensive or cheap, small business can sell anything online. Also, since the business is run online, e‐commerce owners have the option of selling "soft" goods: those that can be downloaded straight to a customer's computer, like new computer software.
Domain name: Before a small business owner can start building an e‐commerce website, they need a domain name. This is the online address at which shoppers can find thebusiness's website. Most online business domain names end in either ".com" or ".net". The domain name selected should match, to some extent, the business's name.
Web hosting service: Another item necessary before building an e‐commerce site is a Web hosting service. Web hosting services are needed to publish the website online for shoppers to see. Specifically, Web hosting service store the data files that make up websites, and then upload those files to the Web for viewing by those who visit the site through its official domain name.
Website: The website will serves as a business's online home. The website, which can be created with the help of either Web hosting services or e‐commerce software, must feature the products the business wants to sell and offer a way to sell those items directly to consumers. The website should be designed in a way that will encourage shoppers to stay and make purchases. It should also include links to the business' social media pages, ways to subscribe to electronic newsletters and deals and offer places to learn about other news going on in the company.Proj
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E-commerce software
The good news is that while online business owners do need a number of things to get up and running, there is a one‐stop shop for nearly all those needs. E‐commerce software simplifies the process of opening an online store by walking owners through each step of the process, including registering a domain name, designing a website, uploading and managing inventory, connecting to a shopping cart and providing secure payment options for shoppers.
When choosing e‐commerce software, there are a number of things small business owners should consider. The software should incorporate all aspects of creating and maintaining an e‐commerce website, such as hosting, website design and SEO integration. In addition, business owners should ensure the software they choose offers a shopping cart capable of accepting a variety of payments, including credit cards, PayPal and eChecks. Finally, the software should provide top‐notch security, such as fraud and secure socket layer protection, to give consumers peace of mind that their personal information won't end up in the wrong hands.
Most e‐commerce software providers charge online businesses a monthly fee for their services. While most of the top software providers waive a setup fee, there are monthly costs that can range from $15 to $300 a month depending on several factors, including how large the online store is and how many of the software's services the business owner needs.
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Building A website :- A small Tips
Shopping cart software: In order to give shoppers the ability to purchase items from an e-commerce website,shopping cart software is needed. This software gives shoppers the chance to search the business's inventory to see what’s available, select items they want to purchase and eventually buy them. In addition to assisting with transactions, many shopping cart software options include additional features for controlling inventory, setting up shipping and calculating taxes.
Merchant services provider: Since online businesses don't have the ability to accept cash as payments via the website, they will need a merchant services provider to handle their credit and debit card needs. This acts as a link between the business, customer and credit card company by providing the services to process the payments and actually take the money from a credit card account and place it into the business's account, also known as a merchant account. Most merchant service providers offer this type of bank account, which acts as a holding location for the debit and credit card payments an e-commerce business collects. Once the funds have been approved, the merchant services provider transfers the money, minus a commission, to the business owner's bank account. Without a merchant services provider, a small business has no way of collecting money from customers.
Marketing: All successful e-commerce businesses have a strategy on how they are going to attract customers to their site. Without a carefully thought-out plan, it will be much harder to turn a profit. Various marketing options online businesses have at their disposal include search engine optimization (SEO), pay-per-click advertising, and email and social media campaigns.
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Business Objective
FNY is a one stop for all our Fashion and Lifestyle needs. Being India’s Largest e‐commerce store for
fashion and lifestyle products. FNY aims at providing a hassle free and enjoyable shopping experience to shoppers across the country with the wildest range of brands and products on its portal . The brand is making a concious efforts to bring the power of fashion to shoppers with an array of the latest and trendiest product available
in the country
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Website Design And Content
FNY is user supportive Website. It is maintained by high skilled software engineers. By using the site any user can view the product and purchase the product their choices . Technology the first to leverage user generated content through an
innovative concept called “ Designers Community “ wherein designers by uploading them on FNY
website which is in turn used by buyer to personalize their product .
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To Reach And Serve Customer
Their reach and popularity are a clue to how attractive their concept is to the consumers. It
stated some facts and figure that the point to their appeal saying “ FNY ships products to over 900 locatons across 40 countries worldwide . In
addition , Fny has provided corporate gifting and promotional products to over 300 companies in
india .
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Web designing takes much more than most people think. It is about ensuring that you have all the relevant hardware and software tools required to design a good and appealing website. One of the most important tools you need a computer. A computer to be used for web design should have a large hard disk and Random Access Memory, high processing speed and large storage capacity to be able to process the large video files. The next thing you need is a server that you will use to host the website. Two servers are needed, the hardware and software servers which are important for web hosting. The relevant software for instance Dreamweaver and Microsoft front page need to be available before any progress can be made in construction of the site.
The internet world is full of uncertainties due to external threats. In the blink of an eye, you can lose all your data. It is important to have a good antivirus or software that prevents the website from external threats. At the same time, you will need to back up your website from time to time. This is because the security software could be overwhelmed by the threats making the entire site crash. Backing up the website can be done manually or automatically through the email. You can opt to back up your site through daily email. This way, you will always be able to restore the site if anything happens to your site.
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FNY do not sell or rent Your Information to third parties for their marketing purposes without your explicit consent and we only use Your Information as described in the Privacy Policy. You and Your Information is one of our most important assets. FNY store and process Your Information on computers located in the India that are protected by physical as well as technological security devices. FNY use third parties to verify and certify our privacy principles.
FNY use your personal information for internal purposes such as processing and keeping you informed of your order.
FNY use cookies and other technologies such as pixel tags and clear gifs to store certain types of information each time you visit any page on our website. FNY may also use cookies to serve advertising banners to you. These banners may be served by us or by a third party on our behalf. These cookies will not contain any personal information.
FNYuse third‐party service providers to serve advertisements on our behalf across the internet and sometimes on this website. They do not know the name, phone number, address, email address, or any personally identifying information about the user.
SECURITY
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COST REQUIRED
The cost of a website depends on what you are paying for. The website design, website domain name, website host, and website maintenance. Can vary from free to high hundred
To set up a website, you first need to have a domain name selected and registered. The setup fee for the website costs about 3 – 10 grands .
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As with most design projects, the first step when creating a website is to perform research. Some of this research will be done with the client to get an understanding of their needs, and other research will be done to learn more about a specific industry. When meeting with your client, you’ll be looking to discover as much as possible to help you develop an outline for the site and eventually design it. This includes asking about their target audience, goals, creative direction and other variables that may affect what you can offer the client, such as budget and deadline. Most likely before (to be prepared) and after gathering information from the client you will perform some industry or market research. This can be as simple as looking to see what other websites in the field look like to in‐depth research with focus groups. The level of research performed will depend on the client’s budget and your existing knowledge of the industry.
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Created: 2002-01-21Expires: 2020-01-21Owner: Pearl Kachru Goldsquare Sales India
Pvt LtdHosting company:
NETMAGIC DATACENTER
Registrar: GODADDY.COM, LLCIPs: 180.179.170.135Subdomains:
blog.fashionandyou.com, newms.fashionandyou.com, m.fashionandyou.com,static.fashionandyou.com
DNS: ns2.fashionandyoutv.com ns4.fashionandyoutv.com
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Alexa.comTraffic Rank: 4496Reach Day: 0.027 +50%
Month Average Daily Reach: 0.032 +12%
Daily Pageviews: 0.00217 +190%
Month Average Daily Pageviews: 0.00195 +26.4%
Daily Pageviews per user: 7.8 +90%
Month Average Pageviews per user: 6.44 +13%
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Pricing
SOTPL strives to provide accurate product and pricing information, pricing errors or typographical errors may occur. With respect to items sold by SOTPL on the Website, the price of an item cannot be confirmed until you have placed an order. Sometimes the price online may not match the price in a store. In our effort to be the lowest price provider in your particular geographic region, store pricing will sometimes differ from online prices. Prices and availability are subject to change without notice. In the event that a product is listed at an incorrect price or with incorrect information due to an error in pricing or product information, SOTPL shall have the right, at its sole discretion, to refuse or cancel any orders placed for that product, unless the product has already been dispatched. In the event that an item is mispriced, SOTPL may, at its discretion, either contact you for instructions or cancel your order and notify you of such cancellation. Unless the product ordered by you has been dispatched, your offer will not be deemed accepted and SOTPL will have the right to modify the price of the product and contact you for further instructions using the e‐mail address provided by you during the time of registration, or cancel the order and notify you of such cancellation.
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Promotion
E‐ Shopping in India India’s e‐commerce market was worth about$2.5 billion in 2009, and slowly it went up to $6.3billion in 2011 and to $14 billion in 2012. About75% of this is travel related (airline tickets, railway tickets, hotel bookings, online mobile recharge etc.)
Marketing Strategy FNY has adopted mass marketing strategy. And offering every kind of product (Toys to Ties). Interesting fact about FNY is that around 60% of the customers visiting the website are woman. So mostly dealing in soft line products.
Promotional Activities Social Media Marketing (Facebook, Twitter, YouTube, Google +, etc.) Print Advertisements etc.
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In some instances, multiple channels may be used. For example, a manufacturer may:
1) Sell to a wholesaler
2) Have a website or shop selling “factory direct” to the public
3) Have representatives selling “party plan” to the public
4) Have agents or distributors selling in other territories
In determining the best structure (or structures) for your business you’ll need to consider the following questions:
1) What is the most convenient means for customers to obtain the products or services they want?
2) What is the specific level of customer service standard required?
3) What is the most cost‐efficient way of providing accessibility and service?
4) How many customers are there, where are they located, what is their average transaction value?
5) What structures do your competitors use and how efficient are they?
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Advertising
They advertise their products mainly through social networking sites like Facebook, Google, and YouTube. The
main advantage of this kind of advertising is that it caters to a larger target audience, because of the growing popularity of internet. These advertisements normally don’t require high expenditure as compared to the television ads. Due to the growing popularity of these social networking sites and the kind of hits they get, Fashion & You generates a lot of buzz in
the internet world.
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FULFILMENT INCLUDES THE FOLLOWING ACTIVITIES WHICH ARE REQUIRED TO COMPLETE
CUSTOMER ORDER:
PACKING UP THE PRODUCT.
DELIVERING THE ORDER.
PROCESSING CUSTOMER RETURNS.
ANSWERING QUESTIONS REGARDING STATUS ABOUT THE ORDER.
DISPATCHING BILLS OR VERIFYING E‐PAYMENT.
FOLLOW UP TO OBSERVE WHETHER THE CUSTOMER IS SATISFIED.
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Packaging and the product development process
Project Aim, Objective, and Constraints:
Product idea generation, screen product ideas
Package idea generation, screen package ideas
Define Total Product Concept:
Product design brief, product design, product testing
Package design brief, package design, package testing
Total product screening, scale‐up, trial production, and commercialization
Project Aim, Objective, and Constraints:
Aim‐‐ultimate outcome required at the end of the project and must be relevant to the company's overall business strategy. It should be clear, specific, and recognized by all people working on the project.
Objectives‐‐major tasks to be completed at different stages of the project. It should include only the major milestones and provide a basis for more detailed project planning.
Constraints‐‐provide the framework, limits, and restrictions that ensure the project is consistent with company's strategies and capabilities.Proj
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DELIVERY
It takes between 3-4 weeks to deliver your order from the date you make a purchase on our site.
fashionandyou.com delivery timelines differ from traditional e‐tailers as we authorize the brands to send us only what our members have ordered at the end of each event. Therefore it takes 2 to 3 weeks after the end of each sale to receive the supplier’s merchandise in our Order Processing Center.
Then FNY prepare your order and ship it to you via our courier. It usually takes us 2‐3 days to prepare your package for shipping. From the time your order is dispatched from our Order Processing Center, it takes 2 – 7 working days to reach you.
Despite our best efforts and those of our courier, certain issues can arise before your parcel is delivered. In order to guarantee you a quality service, fashionandyou.com promises to do its best to find the causes and resolve the problem in a timely manner.
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Terms & Conditions fashionandyou.com does not deliver outside India.
fashionandyou.com dispatches all parcels using a courier chosen according to your order or the type of products sold on fashionandyou.com to offer you a fast and reliable delivery service.With this service, your parcel is delivered within 2 – 7 working days of being dispatched .You can track your delivery via the My Account / My orders page.
INR 100 (Rupees one hundred only) is charged for every single transaction made under Cash on Delivery option.
The applicable delivery charge shall be payable at the time of delivery of the Product(s) in case of COD orders. For prepaid orders, the applicable delivery charge shall be payable at the time of placing the order. In the event of part shipment pertaining to any order, the delivery charge, in case of COD orders, shall be payable at the time of the delivery of the first Product pertaining to the relevant order.
It takes between 3-4 weeks to deliver your order from the date you make a purchase on our site . Therefore it takes 2 to 3 weeks after the end of each sale to receive the supplier’s merchandise in our Order Processing Center.
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PROCESSING CUSTOMER RETURNS:
fashionandyou.com has put in place no‐hassle procedures to ensure that you can buy from us in confidence and return the item if it has size issues (apparel and footwear only) or if the item is faulty or not what you ordered.
fashionandyou.com accepts returns with size issues only for :Apparel & Footwear
Only store credit will be given for such returns. Items must be unused, unworn, unwashed and undamaged. Return items will only be accepted in their original packaging, including: hangers, polyester bags, hang tags on garments, shoe boxes or dust bags. Any items that have been damaged, soiled or altered will not be accepted and will be sent back to the customer.
Returns can be made in the following ways:
Courier the product(s) to fashionandyou.com
Intimate us so that we can pick up the product(s) from your doorstep.
Should you wish to return all or a part of your order, you need to let us know within 3 working days from the date of receiving your parcel. You can either call our Customer Support No. +91‐124‐4125000 between 10am and 7pm, on all 7 DAYS and choose the return option over the phone to reach our dedicated helpline for returns or write to us [email protected]
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After validating your return request over phone we will send you an email authorizing a return. The mail will have a link that gives you access to the return shipping address label. You may simply print, fill with accurate information, paste the shipping address label on the package and courier it back to us. Please bear in mind that we should receive the return package within 10 days of us sending the authorizing email.
Post receipt of the return package, we will proceed to inspect the same. Once approved as an eligible return, we will issue your refund or merchandise credit in the appropriate amount. If however the return is found not eligible for refund, we will courier the same back to you. In either scenario your return issue will be closed within 10 days of our receiving of the return package from you.
Refunds are made as follows:
If the payment was made in cash then the refund is made in the form of a cheque .
If the payment is made using a credit/debit card (or any form of net banking) then the amount is credited back to the same account from which the payment was made.
When a refund is to be made due to sizing issues from customer’s end (for apparel and footwear) then the amount is refunded in the form of store credits.
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The Various Phase In Lifecycle Approach6. ( Maintenance And Enhancement Phase )
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MAINTENANCE REFERS TO KEEPING THE WEBSITE UPDATED BASED ON THE INITIAL PLAN AND DESIGN .
ENHANCEMENT REFERS TO THE IMPLEMENTATING UPGRADES AND ADDING NEW FEATURES IN ORDER TO IMPROVE
THE EFFICIENCY, PRODUCTIVITY AND SCALEABILITY .
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MAINTENANCE
Once you have your website up and running you may be wondering how you can make changes to it yourself, without having to pay a web designer. There are two main options:
Use an online editing tool provided by your host
Purchase website editing software
Before we go into the details, there are a few very important things to consider:
You must know what you are doing before you try to edit your site!
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ENHANCEMENT FNY had made an overhaul changes in their website. This is the
biggest upgrade ever in FNY history for having an edge over other e‐commerce portals. Many new features have been added with removal of few some not‐so‐useful ones. And the biggest major change is of layout and using it in grid style. We’ll discuss this point wise
This is absolutely critical. Even attempting to make simple changes to text can have disastrous results if you aren't careful.
The thing that many people don't understand is this: The tools you use to edit your website are less important than the skills to use them. Many people make the mistake of asking "What tools do I need to edit my site?" when they should be asking "What skills do I need to edit my site?” Once you have the skills, choosing the correct tools is fairly easy and safe.
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FAQ
There is a option called FAQ ( Frequently Asked Question) provided on FNY website .In this link user can see questions regarding prices , how to place an order , how to check out ,
what is e‐wallet , reward points etc.
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FNY provides very good customer supports if any customer faces any problem then he/she can also email or have online/offline chat with the customer care / management the customer care replying policy works under 48hrs policy that means they will have to answer their query
under 48 hrs.
Answer Emails
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Ask For Feedback
FNY also provides an option for feedback . In this , customer gives their feedback about products , customer service , about suggestions etc.
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PRODUCTS AND TARGET CUSTOMERS
The company is known for its varied products and product line. These products are targeted towards various segments of Indian population. Some of the products offered by the
company are tabulated below.
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Products Product Brands/Target Customers
Footwear
Catwalk, Charles and Keith, Nike, adidas are some of the footwear offered by the company. These products are normally targeted towards the middle and upper middle class of the Indian population who like shopping online and don't have
time to go to stores because of their busy schedule.
Men, Women and kid apparels
Some high end premium brands like Ralph Lauren, DKNY, Calvin Klein are offered by the company. These brands are for the growing Indian fashion loving
consumers.
AccessoriesAccessories comprises of handbags, watches, jewelleries and belts. Espirit, sia, guess, segolene etc. are some of the brands and are targeted towards the
premium customers.
Electronic GadgetsF&U also deals in mobile phones, computer accessories. Apple, Blackberry, HTC
and JBL are some of its expertise.
BooksBooks are also sold through their website. Books related to parenting, education, cookery, fashion and lifestyle are available. These are targeted to the people who
love reading but don't have time to visit stores.
Services Many trips are organised to different exotic locations in India and abroad.Projec
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Competitor Analysis
Nationally, FashionandYou.com faces stiff competition from a lot of established and emerging online apparel retailers such as
Myntra.com, Exclusively.in, shoppersstop.com, bestylish.com and futurebazaar.com. Online Apparel Retailers are a mix of both
pureclick and brick‐and‐click companies. A brief analysis of a few of FashionandYou.com competitors is follows :
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Myntra was started by a group of IIT/IIM graduates in early 2007 and is headquartered in Bangalore with regional offices in New Delhi, Mumbai and Chennai. What started off as B2B setup has ventured into quite many apparel product categories such as casual wear, formal wear and even ethnic wear for consumer. Their product repertoire includes merchandise from some of the world’s most popular brands and spans across all categories from clothes to shoes to accessories. Providing access to the best domestic and international brands to people outside the reaches of metropolitan and mall culture, the online shopping portal is today one of India’s leading players in the online
fashion industry and seeks to expand their customer base even further with a advertisement campaign (bestmediainfo.com). These investments have made
Myntra.com one of the most well funded E‐commerce companies in the country. According to a report by xchange4media.com, Myntra.com had rolled out its first television commercial in July‐August, which was a brand awareness campaign. The latest campaign “Ramp it up” is targeted at
potential customers focusing on how high fashionfeel is for anyone who believes in good fashion.
www.Myntra.com
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www.99labels.com
99labels.com is a members‐only, flash sale site offering luxury brands in fashion apparel, lifestyle products, accessories and footwear,
watches, jewelry, fragrances and home décor. It offers up to 90 per cent discounts on branded merchandise. In May, 2011 Info Edge Ltd invested $3.5 million in the concern for an undisclosed share. Info
Edge runs the recruitment website Naukri.com, Matrimonial website – Jeevansaathi.com and Real estate portal – 99acres.com. The funds provided by Info Edge to 99labels.com will be used to increase the number of international brands on the website as well as invest in ERP (enterprise resource planning) and CRM (customer relationship
management) systems.
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A brick and click company , which sell sall , typed of consumer products from apparels to electrical appliances etc. For an Indian customer,
shoppers stop is no alien. Been in the market for over a decade now as a brick and mortar retailer, shoppers stop ventured into online retail in
2007.
www.shoppersstop.com
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www.futurebazaar.com
the Company that owns Pantaloon India entered the online marketplace around the same time as Shoppers Stop.
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Strengths
Very Well Funded ($48 million) – As mentioned earlier, FNY is one of the most well funded online retailer in the country.
Early Mover Advantage – the fact that FNY set up shop in 2010 and gained tremendous pace in a short span of time while others were still in their infant phase attracted a lot of interest from investors and generated a lot of interest amongst consumers.
Board with a lot of experience in the area – Their CEO, Chairman and Director for Sourcing are all well established and know in the industry.
Excellent investors to add more experience in the pot ‐ FNY’s list of investors incorporates both Indian and foreign investors who have invested in some of the world’s most famous companies .Their expertise can be of great value to FNY.Proj
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Weaknesses Website not as easy to operate as
others like yebhi.com – Yebhi has a very easy and user‐friendly category list and search program.
Consumer doubts over authenticity of products.
Slow deliveries – FNY’s supply chain has a bit of a flaw where they can never be sure of how many products are available with the supplier as the Purchase Orders is issued after the sale event ends.
List of products not very well defined – FNY’s category does not
Not enough TVC – Like Myntra.com, FNY does not involve in a lot of Television Commercials.
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Opportunities
Entry into neighboring countries – Entering or launching theirweb ‐site in Bangladesh, Sri Lanka, Pakistan, Nepal and Bhutan attract more customers.
Mobile Application – use of internet on mobile phones increasing drastically and FNY can really benefit from a mobile application which allows customers to purchase products
from their mobile devices.
Global Presence – Entering more countries around the world will be a good idea as their business model of sales events is very unique.
Indian Handicrafts – India has a massive handicrafts industry and there is a strong demand for it. Selling handicrafts on their websites can be a good opportunity.
Different Website Versions – FNY can have different website versions for different states or regions of the country catering to the local market by selling local products. For
example, FNY can focus more on Gujrati products to a person from Gujrat.Projec
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Threats
Amazon.com’s entry into the Indian Market in early 2012 –Amazon.com the world’s largest online retailer announced its plans of entering the Indian online market in early 2011.This entry will happen in 2012 and is a major threat to FNY as Amazon have a global
reputation and are a global leader in all product categories.
Rival websites getting equal interest from investors – As mentioned above, many pure click companies are receiving heavy investments from both national and international
investors. This can be a major threat to FNY.
Rival websites advertising heavily – Myntra.com new campaign of Television Commercials is swooping the Indian Commercial space
Indian customer still not confident enough to shop online –Indian citizens are still wary of online retailers disclosing confidential information such as credit card details. They are 17 also not confident in the quality of a product ordered through electronic channels as they
still believe in touch and feel.Projec
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Recommendation
From my analysis, a lot of recommendations come in mind for FNY. It is a young and growing company and has a lot of ground to cover before it becomes one of the
biggest players in the market. The area that FNY should be most concerned about is their supply chain. Purchase orders are issued only after the sales events are over. In FNY’s case this is hazardous. Incase, there is a shortfall in supply, FNY cannot deliver
the product to the customer and will have to cancel that order. This leaves the customer angry and he loses faith in the company. What FNY needs to do is to buy products from suppliers in bulk, store them in their warehouses and then set up a sales event. This way they have complete track of how many products have been
ordered and how many remain. The fact that FNY sends a PO after the sales event is over has led to a lot of cancellations and has also left many customers disheartened. This process also delays delivery time as through this process, deliveries are made after 3‐4 weeks. Most online retailers globally deliver within a week. If FNY buys
products before hand and stores them, they can take care of both these situations at once.Proj
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Conclusion
The future for both FNY and the online apparel retail market in Indiaseems very bright indeed. With more and more websites coming up everyday and attracting an equal amount of investment from the world
over, its only fair to say that the scope for online retailing in India is pretty good, as long as this good phase in the market isn’t like the dot com bubble. However, more and proper research needs to go in this
area in the Indian context to get fair and accurate results.
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Bibliography http:// www.exchange4media.com/news
http://www.articleslash.net/Shopping‐and‐Product‐
http://articles.economictimes.indiatimes.com
http://www.businessstandard.com/india/news/onlineretailing‐gathers‐steam‐in‐india
http://www.imediaconnection.in
http://www.forbes.com
http://articles.timesofindia.indiatimes.com
http://Google.com
http://fashionandyou.com
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