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Published byZion Banning Modified over 10 years ago
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Kelley Snodgrass Christina Dumas Nicole Butcher
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Shopping Website – New wave of e-commerce – Making Shopping More social! Specializes in vintage clothes & items made by independent designers – Flirty dresses – Vintage blouses – Stylish Accessories
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-Founded in 2002 by Eric and Susan Kroger -Originally sold only vintage items -In 2006, expanded and began offering vintage-inspired clothing by indie designers from all over the world -Became profitable in 2009 after four back-to-back years 600% annual growth - ModCloth has now grown into a thriving business of over 100 employees, yet the small business feel still remains History History
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Modcloths Target Market Young women in the age range of 15- 25, their core market is in their 20s Have a sense of retro indie/vintage style, wanting to have a one of a kind style Independent women looking to create their own style Technology savvy- use twitter/ Facebook
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Strengths Ease of use – Free Returns, quick Exchanges – Great resources on website Social Shopping Community – Active Facebook – Stylists – Shoppers name, describe, and review products – App for I-phone – Live Support – Let customers decide what they sell Quick turnover http://www.facebook.com/search/?q=&init=quick&tas=0.460334957524683#!/ModCloth
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Social Media Facebook: 58,000 followers Twitter: 21,000 followers ModLife Blog Be The Buyer Name It to Win It
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Minimal Advertising Minimal Advertising No retail locations No retail locations New Company New Company Strong Competition Strong Competition Weaknesses
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Modcloths overall goal is to change the fashion industry! Currently just an online store now, but in the future have retail stores throughout the country Generate a well known logo for the company Opportunities
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Threats Competition includes retailers offering trendy, moderately priced apparel & jewelry and/or home décor Urban Outfitters Forever21 Anthropologie
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http://articles.sfgate.com/2010-07-07/business/21940422_1_customers- and-designers-social-media-dead-stock http://www.facebook.com/search/?q=&init=quick&tas=0.4603349575246 83#!/ModCloth http://bits.blogs.nytimes.com/2010/06/30/accel-invests-in- modcloth-a-social-shopping-site/ Modcloth.com http://www.prnewswire.com/news-releases/modclothcom-raises-198- million-in-series-b-led-by-accel-97532159.html http://www.pittsburghlive.com/x/pittsburghtrib/lifestyles/fashion/s_622 026.htmlSOURCES
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