09-16-2002 Planning Packet - Laserfiche WebLink

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Hope Chest for Breast Cancer Resale Shop Summary • Women because they control 80% of the disposable income spending decisions. As such they tend to purchase not only for themselves but also for all items within the home. • Mid to upper income because the Resale Shop does not cater to the unemployed or to lower mid income buyers who typically are only price driven. The shop's product quality and brand name strategy in conjunction with the pricing strategy automatically drives the segmentation to mid to upper income households. In addition the high serv ice, boutique environment caters to buyers who appreciate and actually require these attributes. The Resale Shop's success is determined by maintaining a standard and quality of inventory that set it distinctly apart from other resale shops. This brand name, high quality strategy is positioned to attract the identified market segments: mid to upper income women. This target market is further segmented based on buyer’s needs and attributes. • Professional women: Personal income can vary in this group. They may be near or at the top of their organization, in the middle aspiring to climb (dress for the position you want theory) or at the beginning of their careers. They also may be in support roles that require them to dress professionally due to customer or investor contact. • Stay at home wives/mothers: Mid to upper household incomes; w omen who w ish to dress themselves and their families well but do not wish to pay full retail for the items • Resale groupie: Women of varying incomes who love a great deal; these are destination shoppers who w ill make the resale shops rounds on a routine basis and thrive on finding the "steal of the century" • Teens and college students with limited discretionary income but in need of that "intcrv iew" dress or special occasion item • Perpetual hostess: entertains often and likes to have new and'or theme accessories; i.e. Christmas dishware. garden party, etc. • Beginning households: women who appreciate quality furniture and accessories but arc on a limited budget Strategy: Positioning For women in mid-to-upper income households w ho appreciate quality and name brand merchandise, a "good buy" and the satisfaction of conU*ibuting to the fight against breast cancer, the Resale Shop offers a fun and unique environment in which to shop. Unlike other, typically "Mom and Pop" resale business. The Resale Shop is based on strong business and retail practices that a*'C important to the target market: meticulously clean, attractive and inviting merchandising, c.xpert and friendly service, systems to provide efficient and quick check out and personalized promotions. Strategy: Inventory Sourcing An individual’s decision to donate is based on multiple drivers Women who regularly change their wardrobe Women who redecorate their homes (furniture, accessories, dish ware, etc) Women who love shopping and simply buy because they have the opportunity: once the purchase is complete, the allure is gone, so off it goes to resale, label still on Women w ho have recently lost or gained weight; or who buy new clothing as a futile attempt to do so Disfavored boyfriends or ex-husbands, whose gifts of clothing, jewelry, etc. will never be worn Garment-industry insiders who arc legitimate source of sample merchandise People who make buying mistakes Women moving or dow nsizing their homes Closing an estate follow mg the death of a relative Strategy: Logistics of operation • Hours of operation: Monday - Friday: 9 - 7; Saturday: 9-5; Sunday 12 -5; the shop may also be open till 9 pm one night a week, actual day to be determined • Parking: o An estimated 20-^ spaces arc available in the store parking lot at the side of the building 3 Orono excc summary.doc 9/2/02 4:41 PM ■ ■ - L«. j' • f' 'J ■)•t / • . "v c- \