Coco Le Fashion is a fast-fashion E-store that offers the latest fashion for very competitive prices. This store is completely finished (including a good following on social media, the first sales being made, and a businessplan to follow up) and comes with an extensive email list of over 2000 subscribers who are ready to buy. Coco Le Fashion is a business name that sounds chic, fashionable, and is easy to remember.
Focusing on girls/women between 16 and 25, Coco Le Fashion attracts a wide audience of fashion oriented people. Coco Le Fashion is for girls and women who change their wardrobe each season to fit the latest trends and are looking for economically responsible options. Their socioeconomic class is middle class, upper middle class, and lower middle class. The target group is focussed on trendy items for low prices. Since the target group' s wardrobe usually lasts from one season up to a year, their focus lays on low prices as opposed to quality that will last a long time.
Focusing on girls/women between 16 and 25, Coco Le Fashion attracts a wide audience of fashion oriented people. Coco Le Fashion is for girls and women who change their wardrobe each season to fit the latest trends and are looking for economically responsible options. Their socioeconomic class is middle class, upper middle class, and lower middle class. The target group is focused on trendy items for low prices. Since their wardrobe usually lasts from one season up to a year, their focus lays on low prices as opposed to quality that will last a long time.
The products currently in Coco Le Fashion' s inventory are selected because of their high-rated suppliers and should withstand up to two years of average use. The target group is likely to be interested in trends as seen in reality shows and pop culture. Matching these cultures and trends should result in great profit.
I' ve build this store as a practice to build an appealing design and a near fully automated store that requires fairly little effort per week to maintain. I personally would like to venture into different projects so therefor this store will be in better hands with someone who likes the fashion industry or wants to add another profitable business to their portfolio.
Undercutting the prices of large players like Forever21 and H&M, Coco Le Fashion has a huge potential. Competition (and stores similair) are Shein and Zaful. Having a clear understanding of the target group, understanding the strenghts of this businessmodel, and the shortcomings of the competition will be the reason Coco Le Fashion owns its spot in the fashion e-comm field.
The store is completely finished and has made it' s first sales. Besides having a lay-out that is easy to navigate with all products, product information, and business information accessible within one click, it contains a live feed directly connected with the store' s instagram to showcase the latest posts. With over 8000 headcounts in our direct reach (email subscribers, email recipients, social media followers) containing people fitting the targeting group Coco Le Fashion has great customer reach and a massive potential to make great profits. Coco Le Fashion has Social media included (snapchat, facebook, and instagram) and already has a following totalling over 6000 unique followers.
A connected mailchimp account has more than 300 unique email subscribers and their will be an email list included with over 2000 recipients fitting the target group who are easily converted into buyers. Having the social media posts from a few months back uptill now gives the customer the confidence that they are buying from a large, respectable, chic store. Having already spend quite a bit on marketing, the facebook, and instagram page, it's social media now contains a large amount of potential customers.
Marketing is largely automatized. There is a mailchimp account that already has two campaigns running. One that welcomes all new subscribers via email (directly after subscribing) with a discount code for their first use. It also has a follow up after three days to convert subscribers who have not used their discount code yet. There is a finished template for a bi-weekly email to update subscribers about discounts, new items, and fashion tips. All you have to do is fill in the content and click send.
Besides the mailchimp account there is a connected CRM account that can update Instagram and Facebook for you so you don' t have to do it. Once every three days this CRM account automatically sends you an update about what kind of products (you also have in your store ) are currently looked for by customers most by analysing stores in the fashion niche. It also suggest an advertisement created by this CRM account that you can either confirm, deny, or adjust. The CRM account will post on Coco Le Fashion' s social media (facebook and or instagram) without you having to put in any work besides hitting ' confirm' . Besides this, you can also let it create and run your advertisement campaigns. Last but not least, you can also ask for updates and the CRM account will automatically analyze all data and will send you an update.
Our dropshipping business model makes it easy to fulfill all orders. Since there will only be costs once a sale is made, and these costs will immediately be covered by the sale itself, there is nearly no risk involved in this business model. All suppliers we picked to work with have a very high rating so all products should be able to meet quality expectations.
From my point of view the math is easy; get to sell 25 products per day in 5 countries and with an average price as low as 15 dollars/euros/pounds you will already have a turnover of near 700.000 per year. It is not too hard to exceed this. You got this! ;)
To improve the business it would be recommended to put in an extra hour per week for marketing. Since it is largely automated all you need to do is put in the work for quality content and ride the seasonal waves (swimwear in summer, gloves and scarfs in fall, party dresses in winter). I will be available for consultancy on this. It would also be recommended to have a few bloggers write a guest post to attract new customers and keep the current customer base interested with nice content.
There is already a template for a bi-weekly email to update subscribers and email recipients that only needs the content put in.
It would be recommended to be active on social media and post on instagram and facebook once or twice per day, and have a campaign or win action every month for the brand to be more known.
I would also recommend adding five to ten new products each day (this can be scheduled upfront for it to be more efficient). I would recommend taking two hours per week to add and edit 35 to 70 products in a row, and schedule the days and times for it to appear live.
I will also provide a list of 200 influencers to contact if you want to try out marketing with influencers.
- There is a fully functional, easy to navigate, complete store with an appealing lay-out
- There is a database of customers, potential customers, email subscribers and email recipients who are eager to buy and easy to convert
- There is domain name, a logo, an info email adress and the option to add extra mail adresses for free
- There is an automated Instagram live feed on the homepage of the store
- The Instagram Page currently has over 5000 unique followers who fit the target group and are interested in the brand
- the Instagram page has posts dating back to a few months so it will be easier to win trust from new customers
- There is a Facebook account with over 1000 unique followers who started following by advertisements. They know about the brand, know about the products, and should be easy to convert.
- There is a fully functional Mailchimp account with over 2000 email recipients (300 self subscribed)
- There are two automated email campaigns running via Mailchimp. One that welcomes all new subscribers via email (directly after subscribing) with a discount code for their first use. It also has a follow up after three days to convert subscribers who have not used their discount code yet.
- There is a finished template in mailchimp for a bi-weekly email to update subscribers about discounts, new items, and fashion tips. All you have to do is fill in the content and click send.
- There is a pop added on the store that offers the customer a discount for their first buy if they subscribe on the email list
- There are currently over 300 products on display in the store
- All products are edited, have an easy description, have the right photos for a CTR (Click - Trough - Rate)
- Coco Le Fashion has trust icons (payment options) displayed underneath the "Add to Bag" on the product pages
- Coco Le Fashion has trust icons in the footer to guarantee the customers of safe payments.
- There is an automatically running CRM application to create campaigns, update fans, analyze your data, that now requires minimal time and effort to operate.
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