Store Project 2
This is a continuation of Store Project I.
The objective is to identify an opportunity to provide additional or alternative merchandise within a department or classification at your specific retailer that would increase business.
You may analyze any category of goods.
Building on the information and research from Store Project I, identify a new product category or merchandizing opportunity for the retailer.
Using demographics and psychographics describe how this will increase sales to the existing target market for this retailer (or department) or open up a new target market for this retailer.
Discuss price points for the new product mix. (Will they remain the same or change, and why?).
Describe the new product mix. This may include categories and key core vendors, silhouettes, colors, sizes, pattern, texture. If they are private label, just discuss the categories, not vendors. Include images, key silhouette illustrations, color swatches (at least two 2″ x 2″) and fabric swatches (at least two 2″ x 2″) if applicable. You may use digital images of fabric swatches.
Develop a promotional plan that incorporates a promotional calendar, in store visual promotions, and the use of publicity/advertising/social media for the new product category or merchandising opportunity.
Use photos, computer graphics and typed text to describe the new store layout, floor plans, fixture placements, displays and product mix. Will this involve a separate department, a separate store front, or a pop-up store?
Identify the main competitive retailer or retailers from Store Project 1. Will this change with your new plan? If so, discuss (eg., New category that their main competitors have not yet identified, or a category their main competition is having success with but your retailer is not selling to, or new competitors whose market your retailer wants.).
Here is a sample project for you to view: Fjallraven Store Project 2 LGJ.pdf
