Introduction
As the internet continues to grow over the years, more opportunities continue to crop up for exploitation. The chances are limitless, and rewards are unimaginable. Learning a few skills is essential, but finding a niche and capitalizing on it allows a person to tap into unquantifiable profits and growth. One of the niches that have evolved with the growth of the internet is online merchandising. Innumerable companies have taken up the open platform of online space to market and sell their products. However, some of them have developed unique ways to beat the competition and remain profitable. In this twenty-first century, one of the areas that have distinguished themselves in terms of profitability has been the fashion industry.
The industry continues to grow and evolve at a fast rate with a plethora of opportunities for people who choose to explore it. In the contemporary fashion industry, WindowsWear stands out as one of the top contenders more so in the online market segment. The company which came into being back in the year 2012 has grown to outperform even its expectations. The company focuses on providing the latest information regarding fashion and styles. The company endears itself as a market leader in providing high-quality imager and inspiration on fashion and fashion stores from fashion capitals around the world. The information that is captured on the website of WindowsWear is based on detailed research, studies, and trends.
Marketing Analysis
WindowsWear is an innovative company that operates in the museum industry. The museum industry in America and other major cities of the world is beset with challenges as well as opportunities that can be harnessed by WindowsWear as it seeks to enter the physical museum’s market. At the moment, WindowsWear is mainly invested in the digital display and archiving of important and memorable pieces of fashion from some of the world’s leading brands and retailers. The company works with major retailers such as Macys. WindowsWear displays millions of fashion pieces from the past and the present from more than 600+ brands in 40,000 windows.
The company has WindowsWear PRO, which helps top brands with a large database of merchandising solutions. The WindowsWear Website has another division, Fashion Window Walking Tour, which serves as a digital journey into fashion and display for customers visiting the site. The Window Walking Tour is a digital version of a physical visit to a museum. The fashion display industry is always evolving as evidenced by the success of WindowsWear business model that was only established in 2012 but now deals with hundreds of top brands and retailers and hosts millions of displays on more than 40,000 windows globally. Against this background, the company seeks to open physical museums to compliment the website and expand its business.
One key dynamic that drives the business of WindowsWear is the fact that customers are always looking for interactive content from displays. As such, the company has invested in a state of the art WindowsWear PRO that allows fashion brands, universities, and other retailers to access a comprehensive database of merchandising solutions in the fashion industry. The WindowsWear PRO is driven by thorough research into customer trends, shopping habits, and tastes.
It also has an important division (the Window Walking Tour) which allows the company’s customers and visitors to take a digital tour through the company’s digital archive of fashion pieces and designs from thousands of merchandisers and top brands. This strategy has enabled the company to grow tremendously from a start-up in 2012 into a top rand respected and venerated by some of the best brands in the fashion industry. Another dynamic that defines WindowsWear is that the company’s decision-making process is very flexible owing to its status as a simplified stock company.
WindowsWear, as a start-up, has insignificant competition in the market. The company’s business model is relatively new and as such, competition is yet to establish itself to rival the WindowsWear business model. Additionally, since the company is a digital museum for fashion and other brands since it is involved in seeking creative and artistic display of their brands on the digital museum. However, the company must brace for competition in the visual merchandizing as it branches out into physical museums. At the moment, WindowsWear has temporary and fleeting competition from certain fashion museums in Paris (Musée des ArtsDécoratifs) as well as Musée Bourdelle, also located in the fashion capital, Paris. If the company establishes a physical museum, it will have no competition in the industry since it will be the first company in the world to accomplish this feat. WindowsWear is likely to end up as the pioneer in the industry.
WindowsWear has an established presence in the fashion cities of the world. The company has a presence in Barcelona, Milan, and Paris. Also, the company has a heavy presence in the cities of New York, Los Angeles and London, which are important tourist and fashion centers of the world. WindowsWear diversity is also one of its main strengths. The company caters to a diverse clientele including universities, top retailers, and top brands such as Lord & Taylor.
Its ability to embrace diverse cultural backgrounds may prove influential in driving the success of the company’s physical stores. Museums are usually patronized by people from diverse cultures, and WindowsWear seems to have this formula right. Fashion enthusiasts already identify with the company’s business model given its meteoritic rise in growth over a four year period.
Fashion enthusiasts will have the opportunity to view fashion pieces from other parts of the globe without having to physically visit the fashion capitals of the world. All these can be found in the physical museums that WindowsWear will soon establish. Another opportunity that WindowsWear has as it seeks to expand into physical museums is that the company already has an established clientele that is likely to support its transition into a physical museum. The digital archiving of fashion artifacts has made them famous, and the company can leverage on this position to prop up its physical stores (Potvin, 2012).
Conclusion
Based on the industry analysis presented above, it is highly recommended that WindowsWear moves ahead with its plan to open a physical fashion archiving museum in its key markets such as New York City and Paris. Other cities that are known for fashion can also be considered. The company should consider starting with a physical museum in New York City because of its established reputation in the city. Investing in a physical museum is an expensive undertaking when compared to a digital museum. However, the company should ensure that it does not compromise its financial health by rapid expansions. Instead, the company should consider a systematically driven process of expansion. That strategy would give the company the breathing space needed to expand without straining its cash flow.
References
Bennur, S. (2015). Technology is Essential in Teaching Analysis of Fashion Window Displays: A Subscription Approach. Journal of Textile Science & Engineering, 2014.
Potvin, J. (2012). Fashion and the Art Museum: When Giorgio Armani Went to the Guggenheim. Journal of curatorial studies, 1(1), 47-63.
