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Business Plan
Exotic Vibez
By: Amanda Parker
03/10/2022
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Table of Contents
Confidentiality Agreement.............................................................................................................. 4
1 Executive Summary................................................................................................................ 5
1.1 Risk Factors...................................................................................................................... 7
1.2 Source of Revenue ........................................................................................................... 8
1.3 Mission Statement............................................................................................................ 8
1.4 Vision Statement .............................................................................................................. 9
1.5 Business Objectives.......................................................................................................... 9
1.6 Our Approach................................................................................................................. 10
1.7 Keys to Success.............................................................................................................. 10
2 Company Overview .............................................................................................................. 12
2.1 Company Description..................................................................................................... 12
2.2 Legal Status.................................................................................................................... 13
2.3 Guiding Principles.......................................................................................................... 13
2.4 Team............................................................................................................................... 14
2.4 Our Purpose.................................................................................................................... 14
3 Our Products ......................................................................................................................... 15
3.1 Target Market................................................................................................................. 16
4 Market Analysis and Research.............................................................................................. 16
4.1 Market Research Summary............................................................................................ 16
4.2 Current Competitors....................................................................................................... 24
4.3 SWOT Analysis.............................................................................................................. 25
4.3.1 Recommendations................................................................................................... 27
5 Strategies and Implementation Summary............................................................................. 27
5.1 Competitive Strategy...................................................................................................... 27
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5.2 Strategic Goals ............................................................................................................... 28
5.3 Growth Strategy ............................................................................................................. 29
5.4 Sales and Marketing Strategy......................................................................................... 29
5.5 Our Pricing Schedule ..................................................................................................... 34
5.6 Communication Strategy................................................................................................ 34
5.7 Exit Strategy................................................................................................................... 35
6 Management Overview......................................................................................................... 35
6.1 Description ..................................................................................................................... 35
6.2 Management Structure ................................................................................................... 35
6.3 Metrics and Milestones .................................................................................................. 36
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CONFIDENTIALITY AGREEMENT
The undersigned reader acknowledges that the information provided by Exotic vibezin this
business plan is confidential; therefore, the reader agrees not to disclose it without the express
written permission of Exotic vibez.
It is acknowledged by the reader that information to be furnished in this business plan is in all
respects confidential in nature, other than information which is in the public domain through other
means and that any disclosure or use of same by the reader may cause severe harm or damage to
Exotic vibez
Upon request, this document is to be immediately returned to Exotic vibez
Signature
Exotic vibez
Name (typed or printed)
Date
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1 EXECUTIVE SUMMARY
Everybody knows that retail stores are a profitable business; no matter what is being sold, people
will always be willing to buy products or services on sale. However, a retail store is limited to its
geographical location. For cost minimization and revenue maximization, there are no limits to the
internet. With a physical shop, sellers are limited to many
financial factors in their geographical location. The internet
has no limits when it comes down to geographical location; a
seller could be in Jamaica and sell from his/her home to
customers in the USA and wherever. While internet retailing
continues to expand, it is also becoming more competitive than
ever to sell online.
In 2019 the Cumulative data compiled within The Fashion and Apparel Industry Report painted a
bright portrait with worldwide revenue expected to rise from $481.2 billion in 2018 to $712.9
billion by 2022. With clothing's absolute growth numbers steadily climbing, western-market
saturation is the most likely source of this trend. When growth rates are compared, it is expected
to settle with an increase of 8.8% in the U.S., 8.7% in Europe.
A substantially big opportunity in the retail e-commerce industry and Exotic vibezhas been
established to capture a significant market share in USA. Exotic vibezis a start-up retail
establishment that will sell unique clothing to everyone of the exotic generation. This business will
be a casual urban wear traditional clothing store which will be runby the owner Amanda Parker.
We strive to bring in the latest products worldwide, keeping up with the latest and most significant
trends and technologies. We strongly believe people deserve to achieve a state of grace that only
comes from being kind to oneself and loving oneself. Our responsibility is to create the most
comprehensive array of options to give men and women across the globe complete control over
their appearance and their lifestyle.
We understand our customers' needs and are committed to quality, competitive pricing, and
customer service. This is why we have strict requirements when selecting suppliers. In our search
for ethical products, we conduct quality inspections, looking for the characteristics our products
embody: flexibility in styling, fullness, body, longevity, and purity. We continually look for brands
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that value transparency and quality. These brands are designing and manufacturing basics, like
denim and dresses. When we invest in high-quality clothes, we consume and spend less and live
more simply.
Our initial goal is to create a seamless online shopping
experience for comfortable, luxury, and stylish fashion
products and building a well-recognized brand name.in
turn, we would hope to penetrate a sizeable portion of the
online retail market. As we introduce our unique niche to
the market, we shall continue to expand our business. Our
scope of offerings will increase in variety, simplicity, and
convenience. Our growth will be attributed to each
member of the Exotic vibezfamily's hard work and
dedication. At Exotic vibez, we shall facilitate and empower our staff and the customers that access
our service to reach their potential because we care about helping others achieve their goals and
dreams. We will be highly customer-centric, and we are committed to finding innovative ways of
improving our customers' experience with us.
We have all had to go through a significant learning curve and continue to do so daily as the only
way to grow our business is to expand our knowledge of the market and the industry in general.
As a growing player, we will keep our fingers on the industry's pulse and learn and grow wherever
we can.
As a company, we are a solely-owned and managed business, and we pride ourselves on our
customer service and ethical standards and always try to give our customers that personal touch.
We are obsessed with quality, attention to detail, and personalized service as we shall brand each
of our products to match customers' values and societal needs. Even though we are always looking
for new avenues to market our exceptional services, no one is too big or too small for us. From the
corporate world to personal service, we will value all our clients.
We understand that a business's success starts from its business structure; to build the best business
structure, we will hire competent and experienced professionals who have the required experience
to ensure that our company makes it to the top where it gets to compete with the market leaders.
Also, our workers understand our vision and are willing to work to see it come to fruition. We
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have a 24/7 customer service help desk that operates to ensure that customers have the smoothest
and itch-free trading experience.
Our product prices are some of the lowest in the market. While profit is essential to carry on with
any business, it is not what drives our passion. Our customer community includes the growing
ranks of health-conscious people who prefer natural and organic products. Customer feedback is
a fundamental component of our research and development. Our customer community spurs the
innovation that creates our new product lines.
We aim to become a pioneer in the international sector, and for this purpose, our business model
includes investing opportunities. Exotic vibezis continuously looking for new business partners to
establish reliable, long-lasting relationships thanks to innovative projects based on careful studies
and market analysis. We believe that networking and partnerships between companies can fuel our
development. We present the answer to a growing demand for innovative, realistic, professional,
and internationally scalable services, and our investors can benefit from our extensive experience.
Our professionalism, knowledge, and strong organization will enhance all of our services, both
implemented or in a development state, guaranteeing fast and reliable growth for every investment.
We operate our business with a deep reverence for men, women, children, the Earth, communities,
and cultures, believing that the wisdom of each of these is a source of hope and healing in our
world today. With a dedication to organic, fair trade, and small business, Exotic vibezis passionate
about finding creative ways to support communities and the planet. We will locate Exotic
vibezbusiness at 4305 25th
Ave NE, #22 Salem,OR 97301.
1.1 RISK FACTORS
Business risk is the exposure of a company or organization to factor(s) that will lower its profits
or lead it to fail; thus, any company has to ensure that these factors that threaten its ability to meet
its target or achieve its goals are minimized to the barest. Considering our business's nature, the
possible risks are catering to customer demand changes, limited time to deliver orders, fluctuations
in the market trend, and unexpected increase in materials' price due to worsening economic
situation. However, strategic steps will be taken to efficiently understand these likely challenges
and prepare to prevent or deal with them.
We will ensure that these risks are minimized to the barest by;
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 Adopting effective strategies to promote our brand, our values, our vision, and goals
 Investing enough funds into the business to cater for all essential business operations
 Having credible sponsors who would find the business until stability
 Keeping a beautiful catalog of all our products and ensuring that we properly take the
orders of our customers
 Producing excellent quality apparel
 Offering the best services at a customer-friendly cost by being fair to ourselves and with
our pricing to our customers
 Building a symbiotic relationship with customers (contracts and negotiation) and making
the service exceed their expectations
 We will build a substantially large customer base; by a growing network of customers big
enough to support our business
1.2 SOURCE OF REVENUE
Primarily, the company's revenue stream will be mainly from the sales of clothing products offered
to customers. We would also generate revenue from the sales of accessories and promotional
products made in the company. With time, additional
revenue may be generated from the traffic drawn through
the company's website.
1.3 MISSION STATEMENT
Exotic vibezis a retailo clothing store specializing in
unique clothing and accessories. We encourage customers
to be experimental with new clothing styles. Our mission
is to understand what our customers’ needs and hopes are after buying wear clothing and provide
a friendly and personalized shopping experience. At Exotic vibez, we celebrate men and women
in their real, raw, and most authentic selves, as well as their, alter ego. We want to create an online
platform built on creativity that provides exceptional designs and patterns to enhance our client's
lifestyle and fashion sense. Exotic vibezwill maintain financial balance while delivering a quality
products to our customers. We will make our clothing accessible by way of establishing a retail
location, fashion shows, and events. We will make a profit and generate cash. We will provide a
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rewarding work environment and fair compensation to our employees; ultimately provide excellent
value to our customers, and a fair return to our owners.
1.4 VISION STATEMENT
Exotic vibez's vision is to grow worldwide in the next five years and become one of the next big
eCommerce businesses. We want to become a leading provider of high-quality and fashionable
apparel and services worldwide. We’re committed to achieving new standard of excellence br
providing superior human capital management services and maximizing the potential of all
staeholders- clients, candidates and employees-through the delivery of the most reliable
responsive.
To be the most favorite lifestyle and fashion supply retailer with an international standard where
professionalism, excellence, customer care, and passion is evident in all its operations.
To partner with major brands and stakeholders and become the USA biggest and most impactful
fashion and lifestyle brand by 2035.
1.5 BUSINESS OBJECTIVES
The main objective of every business is to be successful and thrive well over time. By successful,
we refer to a large client base, constantly increasing patronage, rapid business growth, and huge
profits. Exotic vibezseeks to run a business that will succeed in revenue and size and have a
landmark impact globally.
To achieve this, Exotic vibezhas set the following objectives:
 To establish brand awareness
 Become a recognized leader in the community for providing outstanding and high quality
apparel not just in USA but across the globe
 To develop an online presence by using our website with company information for
advertising
 To aggressively expand during the first three years of operation
 Create a service-based company whose primary goal is to exceed customers' expectations
 Establish a minimum 95% customer satisfaction rate to establish long-term relationships
with our clients, create word of mouth marketing and build professional referrals
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 To drive awareness and build sales through mentions in both local print and the nation's
top fashion magazines
 Advertise and promote in areas that our target customer base will learn about our store
 Give our customers the best of high-quality products and services.
 Continuously review our inventory and sales and adjust our inventory levels accordingly
 Work with professional pride and passion
 Strive for long-lasting partnerships by creating added value for our customers
 Maintain a very high gross profit margin
 Maintain a steadily growing net profit margin through an increase in sales, frequency of
sales
 Maintain proper business operations and strategies to ascertain the continuous growth of
the company
 To operate the business as environmentally friendly as possible.
 Provide quality clothing and customer service at a reasonable price
1.6 OUR APPROACH
What makes us competitive with other retail sectors is our extreme attention to detail and our
advanced productivity focus. We know that we are entrusted with the brand image of the products
we distribute and retail. Therefore, we strive to express these brand images in strict respect to their
foreign owners' and managers' wishes.
1.7 KEYS TO SUCCESS
With Exotic vibez, we saw great potential for a new retail development segment showcasing niche
and alternative brands never seen before in USA. This remains a unique concept in the USA We
believe in providing a relevant shopping experience to a relevant portion of the USA population.
Our keys are;
Our Culture: Our team consists of men and women with a true entrepreneurial spirit who are not
only future-forward and trend-led but care about our customers as well as their shopping
experience. Our customers inform much of our brand and store, from manufacturing, sourcing,
and marketing to the entire user shopping experience.
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Best Quality: We stock and market only the best quality product and the best in the world.
Knowledge about the Industry: To stand out in the industry, we will continually update personal
and corporate knowledge about the trending, latest, and most profitable industry styles and
techniques while employing innovative ideas that comply with local and international industry
standards.
Value-added services: Exotic vibezwill ensure that services are focused on offering great values
to customers and not a proportional match to monetary value, but values beyond the price.
Affordable price point: The company will always look for better ways to make their cost rates
more appealing, friendly, and attractive to the whole spectrum of clients they are focused on
attracting.
Fastest Delivery: We guarantee safe and fast delivery of orders within acceptable time limits, both
locally and overseas.
Local and Global Reach: With a global network of supply chain partners, we offer our services
both domestically in the USAand the rest of the world
Customer Care: Our Customer care section is on duty 24/7 to answer questions and attend to
needs promptly. Our support staff is on duty 24/7 to answer questions and attend to needs promptly.
Easy to navigate: Our online store will be well laid out and simple to use. From the first site visit
to the site, our customers are guided through the store step by step through searching for a specific
item. We want to ensure the purchase is quick, convenient, and efficient.
Safe and secure shopping: Once the desired items are in their shopping cart, customers can
choose from various payment options. Payment can be made easily online, either via EFT or via
credit card. However, we pride ourselves in our Cash on Delivery service, where customers can
opt to pay cash once their items are delivered to their doorstep. After a successful purchase,
customers are informed about the current status of their order using email communication. Each
customer receives a unique tracking number to follow up on their order up until delivery.
Product range: Exotic vibezoffers various leading manufacturing brands for men and women. All
of our products are supplied by authorized manufacturers and are 100% authentic. We ensure that
our product selection is updated with the latest product launches and seasonal trends.
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2 COMPANY OVERVIEW
2.1 COMPANY DESCRIPTION
Exotic vibezis a retail fashion, lifestyle, and trend store founded by Rodrigue Kragba. Exotic
vibezis an upscale destination and one of USA’s fastest-growing brands. It is much more than a
supply outlet but is indeed an embodiment of a lifestyle dedicated to living life at its best and
highest quality.
We are a young, dynamic company seeking to maximize our competitive advantage acquired
through channel management (particularly a strong connection to commercial locations) and
productivity management.
We are dedicated to helping men and women achieve the best in looks, appearance, and quality of
life. Our products are of high quality and are sold at uniform wholesale and customer-friendly
prices. Our product lines include the highest quality of European, African, and Asian products
alongside a premium quality indigenous line of clothes for the lover of sensational fashion.
Millennial is designed to help customers change their look without buying an entirely new
wardrobe. We will cater to the person wanting to build a new wardrobe by purchasing clothing
and accessory pieces to add to clothing they already have.
Customers will rely on the business they purchase pieces from to give them continuous help and
personal opinions. Theirs is a business that repeats and it will be easy to establish a strong clientele.
Customers will save money from having to buy a complete outfit by just purchasing pieces. They
will also enjoy shopping in stores that are well inventoried and serviced-minded, such as Exotic.
Exotic vibezwill also cater to all types of customers and for all occasions other than routine
shopping. Examples: friends buying gifts for their friends. Exotic vibez’s clothing store will be a
source of wearable gifts.
The company is a new business aimed at providing ladies of the Exotic generation stylish clothing
options to buy and wear. As the company’s founders and as Exotic ourselves. In fact, most clothing
shops for the youth are still selling clothes that our grandmothers would have worn.
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As our company grows and we earn a positive reputation, several opportunities will open to us.
We will develop and grow our company by increasing existing product lines and expanding our
selection to include additional products. Within five years, we will assess the potential for
franchising our stores in select locations. We understand the power and ease of an online storefront,
and therefore we are intensifying an effort to spread awareness of our product line and brand to a
broader community.
2.2 LEGAL STATUS
The overriding aim of Exotic vibezis to be the best in everything we do. Our simple objective is
to build on our reputation for quality. We aim to stand out from others by maintaining the highest
levels of integrity in all our dealings, balancing the requirements of customers and others we serve
with those of our shareholders, staff, suppliers, and the regulatory authorities.
Exotic vibezplaces the rights of service users at the forefront of our philosophy. We seek to
advance these rights in all aspects of the products and services we provide and to encourage our
users to exercise these rights to the full.
2.3 GUIDING PRINCIPLES
Guiding principles are broad philosophies that encompass a company’s values and guide an
organization throughout, irrespective of the changes in the strategies. They are significant in
creating a successful and sustainable business. Our values are of enormous importance to us; they
are principles that we uphold in high esteem for our business. They are the bedrock of our business
thought process, and they guide us collectively as a company and uphold by any individual
associated with the company.
Exotic vibez exhibits certain principles and philosophies that distinguish us from others. Some of
these principles include;
 We will offer our clients custom pieces that suit their tastes and preferences
 We will ensure to build enduring and meaningful relationships
 We will thrive beyond contemporary standards
 We will communicate with clarity and professionalism
 We are honorable and operate with integrity
 We will aim for success, be intentional and execute the plan
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 We will uphold our core values and key factors to success
 We will delight our clients by delivering only quality services that are proven for excellent
results through sustainable innovation and creativity
 We strive to grow our business through differentiated capabilities
 We listen, assume positive intent, and then speak with candor
 We embrace creativity to get better every day
 We will ensure to build enduring and meaningful relationships
 We sustain our company and our world for future generations
 We are faith-friendly, inclusive, and through intentional collaboration, we win.
 We commit daily to deliver results the right way
2.4 TEAM
We approach our work with passion and resiliency to get things done effectively, timely, and on a
budget to best serve our customers. At the heart of Exotic vibez is a simple, powerful concept —
regardless of experience, role, or location, we operate as one team. Our team is driven by values
that underpin everything we do, describe the qualities we share, inform the way we work, and
connect us worldwide. Through our dedicated team and the values we embody, we will continue
to expand our brand's world of possibilities.
2.4 OUR PURPOSE
Being a relatively new company, we shall be known for creative innovation, originality, creativity,
exceptional choice, and unbeatable quality. We will be at the forefront of the industry,
continuously pioneering new application systems, investing in the development of safer, faster,
and better technologies that have undoubtedly shaped the market and earned us the reputation for
being The Experts in superior, top designers’ wear. We promise to guarantee high-quality products
at the best prices, delivered with a service one can trust and the assurance of fair trading terms.
We are inspired to:
 Drive innovation that makes the world safer builds healthy and vibrant communities and
increases productivity.
 Harness our reach around the globe to better society, business, and the planet.
 Push ourselves and our industry peers to be more responsible, inclusive, and sustainable.
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 We have big ambitions, and a growing sense of urgency to work with others and address
world challenges no one can tackle alone.
3 OUR PRODUCTS
We trawl the globe to provide men and women worldwide with the world’s bestselling lifestyle,
fashion, and trendy products. We are a dedicated team of retail enthusiasts on the hunt for the best
products the world has to offer.
With numerous differentiated brands and products listed under different categories, we have
successfully served all the textile and fashion industry segments. Besides providing effective
business solutions, we also offer textile-based information through our informative articles, news,
market analytical reports on fiber and feedstock, and various print features. Moreover, we will
tailor our inventory to meet the needs of various classes of customers. Exoticvibez will sell a
combination of widely recognized name brands as well as clothing lines from select fashion
designers. We will closely follow generational fashiontrends as well as our customer’s purchasing
preferences.
Exotic vibez will regularly launch freshly inspired ranges. The styles offer a unique design for use
every day at work, events, school, inspiring creativity, a love for nature, and play. In addition, the
exclusively independent clothing brand can apply
economies of scale, offering the utmost comfort and
quality at affordable prices.
Each season, our male, female, and unisex collections are
meticulously collated to tell an original, whimsical, and
beautiful story. Most importantly, everything we create
at Exotic vibezcomes from the heart, with an eco-
friendly sustainable approach, from our detailed designs
to the special care and thought given to all aspects of an
online shopping experience with us. Our goal is to implement a superior customer service system.
Our primary concern will be ensuring our consumers are happy with the fit and style of the
purchase, we will provide tailored to all shapes and sizes of women.
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3.1 TARGET MARKET
The fashion and retail industry tends to be overly adult-focused. However, by closely following
generational fashion trends and our own customers’ purchasing preferences, we will tailor our
inventory to meet the specific needs of our clients. We will solely focus on our styles, colors, and
fits to flatter our clients and make meeting their needs our specialty. The goal is to serve the
cannabis lifestyle.
We expect most of our products to catch up with men and women between 18-35 years old.
4 MARKET ANALYSIS AND RESEARCH
4.1 MARKET RESEARCH SUMMARY
Global Market
The global clothing and apparel market reached a value of nearly $758.4 billion in 2018, having
grown at a compound annual growth rate (CAGR) of 7.5% since 2014, and is expected to grow at
a CAGR of 11.8% to nearly $1,182.9 billion by 2022. Growth in the historic period resulted from
emerging markets growth and technological advances. Factors that negatively affected growth in
the historic period were a lack of resources and increasing inventory levels. Going forward, the
growth of e-commerce and favorable government regulations on apparel manufacturing will drive
growth. Factors that could hinder the growth of the clothing and apparel market in the future
include reductions in free trade and the growing production of counterfeit products. The clothing
and apparel market is segmented by type of apparel into women's wear, men's wear, and kid's wear.
Women's wear was the largest segment of the clothing and apparel market by type of apparel in
2018 at 55.7%. The men's wear market is expected to be the fastest-growing segment going
forward at a CAGR of 16.4%. The women's wear market is segmented by type of apparel into
dresses and skirts, trousers, blouses, jerseys, sweatshirts and pullovers, coats and jackets, suits and
ensembles, sports and swimwear, t-shirts and singlets, night and underwear (women and girls) and
blazers and others. Dresses & skirts were the largest segments of the women's wear market in 2018
at 23.3%.
The men's wear market is segmented by type of apparel into trousers, shirts, jerseys, sweatshirts
and pullovers, coats and jackets, blazers, and suits, night and underwear (men and boys), t-shirts
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and singlets, sports and swimwear and others. Trousers were the largest segment of the men's wear
market by type of apparel in 2018 at 35.4%. The kid's wear market is segmented by type of apparel
into infant and toddler clothes, and young children clothes. Young children clothes were the largest
segment of the kid's wear market by type of apparel in 2018 at 68.1%.
Asia-Pacific was the largest apparel market, accounting for 45.6% of the global market in 2018. It
was followed by Western Europe, North America, and then the other regions. Going forward, the
fastest-growing regions in the clothing and apparel market will be Asia-Pacific and Africa, where
growth will be at CAGRs of 15.4% and 14.3% respectively. These will be followed by the Middle
East and South America, where the markets are expected to grow at CAGRs of 14.0% and 11.6%
respectively. The clothing and apparel market is highly fragmented, with many small players. The
top ten players constitute 8.07% of the market. Major players in the market include NIKE, Inc.,
Adidas AG, PVH Corp., V.F. Corporation, and Hanesbrands Inc. The global apparel and leather
products market, of which the clothing and apparel market is a segment, reached a value of nearly
$1,050.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.6% since
2014, and is expected to grow at a CAGR of 8.4% to nearly $1,623.0 billion by 2022. The apparel
segment is expected to be the fastest growing segment in the apparel and leather products market
at a CAGR of 11.8% during 2018-2022.
Top E-commerce Trends 2020:
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Are you wondering what the future of e-commerce looks like? Do you want to look into what
trends will shape the success of your online store? Here are the top 10 e-commerce trends for 2020
that you need to look out for.
1. Online Sales Growth is Unstoppable
E-commerce sales have been growing
constantly and for good reason. Online
shopping is one of the most popular online
activities. The sales are projected to increase
from 1.3 trillion in 2014 to 4.5 trillion in
2021 (Statista, 2019). That’s a massive figure. It would mean a threefold growth over 7 years.
Even though online shopping is one of the most popular online activities, the usage varies by
region. With the increasing popularity of e-commerce stores, a rising number of people are turning
to online shopping. This increase in online shopping can be attributed to a number of factors. One
of the main ones is arguably the level of comfort that is provided to online shoppers. There is also
an increase in trust that online buyers have when they are purchasing online, as well as an improved
website experience. At one point, people used to be hesitant to buy things online, but that’s no
longer the case. Websites have been made more customer-friendly. With all the comfort that is
provided, there’s no surprise that online sales growth is becoming unstoppable.
2. The Future of E-commerce after COVID-19
Undeniably, one of the biggest impacts—if not the biggest—on e-commerce trends in 2020 will
be COVID-19. With governments worldwide shutting stores and implementing lockdowns to
restrict social movement for months on end in a bid to combat the coronavirus, more and more
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people are resorting to online shopping to purchase items. Already, e-commerce giant Amazon’s
Jeff Bezos has seen his fortune grow by nearly $24 billion thanks to increased customer demand
for Amazon’s products and services. And experts predict that the impact of the coronavirus will
not just be a short-term boost to e-commerce but one that’s here to stay, even after COVID-19.
This is because people will get comfortable with the comfort and convenience it offers and the
benefits of contactless payments, both of which
are likely to cause a permanent behavioral shift
towards digital purchases. Market analysts say
that the e-commerce industry will be the biggest
beneficiaries of the coronavirus pandemic.
Penetration rates, which are currently at 15
percent, are expected to increase to 25 percent by
2025 (MarketWatch, 2020). That marks a 67
percent increase in five years.
The positive COVID-19 impact on e-commerce, unfortunately, spells a heavy loss for brick-and-
mortar stores. As many as 100,000 are forecast to shut over the next five years. At an estimated
24,000 closures, apparel retailers will be the most affected, followed by 12,000 consumer
electronics stores, and 11,000 home furnishings and grocery stores each.
3. Mobile Shopping is Growing
The growth of mobile commerce has been noteworthy. Since 2016, sales made via mobile
devices increased by 15%. By the end of 2021, 73% of e-commerce sales will take place on a
mobile device (Statista, 2019). These figures can’t be ignored. Improving the e-commerce
experience for mobile customers can be a huge opportunity for businesses to tap into. E-commerce
growth has been driven in part by the increase in the usage of mobile devices. People don’t just
shop online, they also use their mobile devices to browse or research before making their minds
up about their purchase. As trust in online shopping is increasing, consumers feel more
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comfortable shopping on mobile devices than ever before. Especially when it comes to Millenials
and Gen Z who have grown up surrounded by computers and the internet. These generations are
also more likely to be shopping online using their mobile devices, in comparison to older
generations. As a result, more and more sites are now optimized for mobile use. Make sure that
not only your website but your online store is optimized for mobile devices as well. By doing this,
you’re making e-commerce simpler and more accessible for a larger audience.
4. Rise of Voice Commerce
Voice shopping is growing among Internet users. 13% of U.S. smart speaker owners say that they
were making purchases by voice at the end of 2017. That number is predicted to grow to 55% by
2022 (OC&C Strategy Consultants, 2018). The total spending on voice shopping has also gone up
in the UK. This e-commerce trend has grown in popularity mainly since 2014 when Amazon
launched its smart speaker – Echo. While voice
shopping is still in its early stages, this statistic
shows us that it will become increasingly
popular in the coming years. Voice shopping is
a non-visual experience, which means that
customers have to select their products by
providing a verbal description of what they are
looking for. This restricts the scope of browsing
for a product before actually selecting it. To dig a little deeper, voice shopping is mainly used by
customers as a sales channel. This means that instead of using voice search as a browsing
experience to research what they have to buy, they use voice search once they have already decided
on their purchase. Purchased products via voice search are usually low-value products and include
categories such as food items, or low-cost electronics
and homeware products. The rise of interest in voice
shopping means that businesses will have to take note
and provide customers with the comfort that they are
looking for when buying products.
5. Evolving Role of Social Media in E-commerce
21 | P a g e
The number of social shoppers is also rapidly increasing. With the introduction of the “Buy” button
on Facebook and Instagram Checkout, social media is playing a significant role in the world of e-
commerce. Social media has changed the way we live our daily lives, including the way we buy
things. This is a great opportunity for brands to start thinking about how to improve their position
on social media, which is a great platform for brands to get discovered. With consumers spending
more time on different types of social media, e-commerce businesses can get help from Instagram
influencers to increase their chances of getting discovered by their target audience. Additionally,
with platforms like Shopify, businesses can easily link their online stores with social media sites so
that people can buy from them directly through social media. Instagram and Facebook, for
example, are constantly updating their features to meet the comfort needs of online buyers.
And who can forget TikTok – the latest and
rising rave within the world of social media
that has not only made its way into
the hearts of teens but also around
Hollywood? The video-sharing app has
been working on incorporating e-commerce
elements and its latest efforts
include testing a new feature that will allow
users to include shoppable links in their
profiles or videos. This means that users who click on the link will be taken to the URL within
TikTok itself without having to leave the app to access the site. These social media platforms act
as channels for inspiration and allow brands an opportunity to be discovered while people scroll
through their feeds. As social media continues to become a regular part of our daily lives, its power
to influence e-commerce trends will only increase. That’s why brands need to adopt a shopping-
focused approach to their social media strategy.
6. Environmental Topics Influence Buyers
Green consumerism is on the rise, and brands need to take action. Half of the digital consumers
say that environmental concerns impact their purchasing decisions. E-commerce businesses should
strive for creating more sustainable practices. People are now becoming more conscious of the
environment than ever before and for the right reasons. Online businesses need to step in and make
22 | P a g e
sure that their practices are environmentally friendly. This includes practices of sourcing products
from fair-trade organizations to help create a greener e-commerce environment. Millennials are
paving the way forward to greener consumerism habits. Whether it’s free-range meat or vegan
skincare products, there is an increasing demand for taking care of our environment. Consumers
feel more responsible for the planet, which in turn increases the responsibility for brands to cater
to the eco-friendly needs of customers.
7. Role of Artificial Intelligence
Global retailer spending on Artificial Intelligence (AI) will reach $7.3 billion per annum by 2022,
up from an estimated $2 billion in 2018 (BusinessWire, 2018). This happens as retailers target new
avenues to increase the personalization of the customer experience. This research shows us that
retailers are willing to heavily invest in tools that will help them to improve their services to
customers and give them a competitive advantage. These AI tools range from automated marketing
platforms that are equipped to generate timely offers, to chatbots that respond to customer queries
instantly. Other areas where AI will be helpful for retailers include AI-optimized pricing and
discounting, as well as demand forecasting. The role
of AI will become stronger in the coming years, as
retailers invest in improving areas such as customer
service where AI can be useful to understand the
reactions of customers to the product or service
purchased. This will play a big role in solving how
retailers can improve customer experience. To stay
competitive retailers must invest in this e-commerce trend.
8. Augmented Reality Transforms How We
Shop
By 2022 over 120,000 stores will be using
Augmented Reality (AR) technologies,
offering a much richer buying experience
(Prnewswire, 2018). AR uptake in the sector
will be driven by the retail workforce and
online shoppers. One of the main concerns that people have when shopping online is the inability
23 | P a g e
to see the product firsthand. AR technology helps bridge this gap and enables online shoppers to
better visualize the products that they are interested in. For online customers, this could be a game-
changer. AR experiences can change the way that online customers perceive the products that they
intend to buy. With the use of AR, customers will be able to better understand their needs and if
the products that they intend to purchase meet their demands. Some e-commerce brands have
already started to experiment with AR, which will help them stand out from the competition.
Delivering more personalized experiences to consumers will allow for better online shopping.
Companies are using AR not only to enhance the customer experience but also to allow shoppers
the ability to test and explore products in the way that they would do during an in-person shopping
experience.
9. Personalization is the Future
More than 50% of shoppers say that personalized online experience is important (Bazaarvoice,
2018). Adding to that, 74% of marketers believe personalization has a “strong” or “extreme”
impact on advancing customer relationships (Evergage, 2018). Personalizing the online shopping
experience is the key to keeping customers satisfied. People shopping online want help to find the
products that they need, and they value a more personalized experience. As a result of poor product
recommendations, online shoppers might avoid certain stores altogether. E-commerce sites are on
board with this trend and are investing in personalization tactics to make the online shopping
experience a better one. This could include the personalization of messages that go out via email,
or by providing the right information to the interested consumer group. By offering personalized
customer communications, providing relevant discounts, and engaging with customers through,
for instance, video content, will help deliver
a better shopping experience and strengthen
the bond with your customers.
10. Visual Commerce Is on the Rise
One of the many difficulties of running an
e-commerce store is having to sell your
product to consumers who have no chance
of physical interaction with your product.
That’s where visual commerce comes into play. In
24 | P a g e
short, visual commerce is the next generation of normal static visuals. It takes marketing to a whole
other level as instead of simply using product photos to market your business, visual commerce
takes it one step further by incorporating other types of visuals such as consumer-generated media,
interactive content, engaging videos, and as previously mentioned, augmented reality. Visual
commerce is slowly but surely becoming an integral of e-commerce, as shown by the growth of
the deep-learning technology behind it. This includes the image-recognition market, which is set
to grow from $20.19 billion in 2018 to $81.88 billion by 2026 – marking a compound annual
growth rate of 19.6 percent (MarketWatch, 2020). The usage of image recognition is expected to
be the most prevalent in the North American market, which correlates with the popularity of and
demand for visual content among US consumers. As it stands, approximately 75 percent of internet
users in the US search for visual content before carrying out a purchase regularly. Only a handful
(3 percent) do not.
4.2 CURRENT COMPETITORS
Most markets have competitors. In order to compete and thrive favorably, we at Exotic vibez have
identified our direct competitors, and they are other companies selling similar products. We just
intend to do it better with our unique combination of skills, products, and service abilities. We
have high regard for excellent customer service and hope to leverage our relationship with clients,
as people will love to work with whom they have a bond and enough trust. We will also effectively
market our concepts to as many clients as possible. We will strive to offer masterstroke services
that will attract and keep clients. We will build and establish a dominant market presence that will
be strong enough to compete favorably with future brands. Some of the competitors are:
 Inked shop inkedshop.com
 Stigma&style, stigmaandstyle.com
 Cookies,cookiesaf.com
Emerging Competitors
We believe there will be an imitation of business brand and operations in the nearest future.
However, we will maintain a level of operational standard and keep portraying our firm as the best
in the market. We will also flow with the market trend, stay up-to-date and implement these new
25 | P a g e
trends to keep abreast of the latest development and improve our services on all fronts in the retail
fashion industry.
4.3 SWOT ANALYSIS
The SWOT analysis includes the Strength and Weaknesses possessed by our company and the
Opportunities and Threat the company will face as challenges as we launch our business platform.
We must know these so that we can leverage on in the industry and the threats that we are likely
going to be confronted with. With that, we can design, inform and map out strategies that will not
only help us to survive in the industry but also to build a global brand. Here is a summary from
the result of the SWOT analysis that was conducted on behalf of Exotic vibez:
Strengths
 Experience and understanding of the retail industry
 Exotic vibezis new to the market but has links in the industry.
 Employing committed and diverse staff to work for the organisation.
 USA base is ideal very good transport links
 Low startup costs home-based office
 Unique shopping experience with exceptional customer service
 Links with local brands
 More than one income stream
 Staff induction to be completed within 2weeks, induction training and booklet
 A few private clients
 Easy access and smooth sales transactions
 The large and growing consumer base
Weaknesses
 New to the market, take time to establish
 There is no internal structure.
 Lack of clients in the interim.
 Recruitment of qualified staff.
 No local authority contracts
 Staff retention
26 | P a g e
 Training facilities
 Office facilities
 Insufficient capital or funding
 Growth may be slow due to the presence of competitions and substitutes (physical
marketplace, etc.) in the market
 Security and fraud concerns mean some people are still reluctant to use online platforms
for purchases of any kind.
 A limited financial base compared to what we desire
 Creating company awareness and brand name recognition
Opportunities
 Opportunities to develop staff.
 Train the trainer for internal staff, so as to train other staff.
 Opportunity to recruit right staff in order to grow
 The outstanding shopping experience will lead to repeat business
 Opportunity to expand to new technologies and challenges across the globe.
 Opportunity to implement strategies and build company strength
 Opportunity to run a profitable and successful business
 Avenue to promote a sustainable and green planet
 An opportunity to adopt Big Data Analytics to better understand our users’ preferences.
 Opportunity to add long-lasting value and impact on humanity
 Strong possibility of growing our business in order to accommodate new markets and
potential clients
 Unique and creative designs that suit the tastes and preferences of our clients
 Easy access and prompt sales transactions on our e-commerce website
Threats
 Low startup funding
 Pay rate/ mileage: If we cannot meet up with the rates our other competitors are paying
staff, we may lose our staff to them.
 Mistakes made due to lack of skills
 The possibility of business imitation
 Low barriers to entry
27 | P a g e
 Cost and effectiveness of marketing
 New retail platforms that may or may not open in the future
 The arrival of a new competitor is considered another threat to our business
 Government instability; changing/unfavorable government policies
 Economic downturn
 New retail shops that may or may not open in the future
4.3.1 Recommendations
 To communicate clearly with our clients in order to build trust.
 To communicate what is expected of staff
 To have monthly meetings with staff and managers
 To make sure proper induction is carried out within two weeks.
5 STRATEGIES AND IMPLEMENTATION SUMMARY
5.1 COMPETITIVE STRATEGY
It is easy to be different but very difficult to be better. We stand out from the crowd because we
'are' better. We do not just "go with the flow"; our philosophy is based on "active
management."Exotic.
Philosophy: Our company’s core business strategy is to combine exceptional and knowledgeable
customer service with quality stylish merchandise. And in turn, we’ll provide and enjoyable
shopping experience for our customers.Exotic vibez’s mission is to offer women of the generation
a wide selection of fashionable, figure-flattering clothing. Our aim is to establish our company as
a pioneer in this youth-obsessed industry and build a boutique brand name that will be synonymous
with the fashion industry revolution.
Customer Service: We are incredibly proud of our customer service. Our goal is to respond to
every customer statement with well-researched and constructive answers. Our customers have easy
access to our staff by email and telephone to answer questions about our products.
28 | P a g e
Thus, we believe in simplicity and believe in using advanced yet straightforward strategies that
lead us to success. We are a brand within, whom the existing clients approach and opt for our
services. We believe in innovation and follow the same by combining effectiveness and reliability
while partnering with clients.
Quality Assurance: Once our products complete our store's long journey in USA., the quality
assurance process continues, with each piece undergoing a secondary inspection process to identify
any imperfections.
The Future of our Products: Exotic vibezis always looking for ways to improve our products
and services. We fancy ourselves new in the industry, so we stay on par with the latest trends and
new technology to meet our clients' styling needs.
Dedication: That makes us different and attracts clients of the highest caliber, and keeps them
loyal to continue using our services. We will be a compact company with direct communication
lines, and we will strive to keep it this way as we value personal relationships with our customers.
They are the basis for excellent service and our existence.
Market Research: our company’s strengths rely on first-class market research capacity,
unparalleled risk management, and a fast-growing processing and logistics asset base to support
the origination, transformation, and distribution of commodities. We pride ourselves on building
sustainable relationships with local business partners.
International Network: We carefully and strategically choose our overseas partners to match our
standards of quality, public relations, customer service, and professionalism. Maintaining these
quality relationships is to build and retain competencies essential to our business's success.
Our Employees: We have friendly and highly experienced staff who work tirelessly to ensure that
our customers’ needs are exceeded at all times.
5.2 STRATEGIC GOALS
In the retail and fashion markets, a large wave of change, which could be considered a paradigm
shift, is just around the corner. In order to attract business opportunities from these markets and
achieve sustainable growth, it is necessary to strengthen the foundations of our brand and work
structures in accordance with the expanded size of the company.
29 | P a g e
In the expanding markets, we will aim for healthy growth so that we can provide Exotic vibez’s
value that satisfies customers and allow every employee to feel rewarded as they continue to grow.
Here our objectives are;
 Exotic vibez start as a low-risk investment and turn into a multi-million dollar business.
 We will turn Exotic vibez into a full corporation with several locations and over 100
employees between corporate and location-based employees.
 Our model is built on a full-blown retail management experience, customer service, sales,
and marketing strategy that will incorporate the latest marketing trends within Digital
Marketing, Grassroots marketing, sales teams, and much more. Not only will we build a
product, but we will bring the people to us as well.
 The partnerships and business relationships that Exotic vibez will create will continue to
grow this business into a monstrous corporation.
5.3 GROWTH STRATEGY
In the future, we shall continue to use our matchless competitive advantage to expand Exotic vibez
with a website and new stores and diversify with the re-
opening of Exotic vibez fashion stores. This will allow
us to have the leverage to pursue further options, such
as our existing “shop in shop” concept. We believe that
our business's e-commerce part will play a key role in
increasing our reach and turnover.
5.4 SALES AND MARKETING STRATEGY
Our customers are expected to come from different regions. That is why our sales and marketing
plan will start at the construction phase by upholding the idea that if customers have a hassle-free
and seamless business experience, it will increase our customer size and boost our sales.
We will ensure that all our customers, to a reasonable degree, enjoy a smooth and efficient
experience when patronizing us. We will also gather information to serve them better by eliciting
their feedback and incorporating the same. This type of first-hand market research will prove
invaluable in attracting more customers and retaining existing ones.
30 | P a g e
Ordering from our website, we take security very seriously. Exotic vibez complies with the
strongest identity authentication standard available today by utilizing an Extended Validation SSL
Certificate. A unique and noticeable green address bar will display in the latest high-security
browsers in the secure portion of our shopping cart. This bar immediately helps assure customers
that Exotic vibez is an authenticated website. Additionally, a green security bar highlights our
name and also includes a notation next to the address bar that our organization is certified. The
green address bar and security bar help customers know that Exotic vibezis a legitimate Web site
and that their transaction will be secure.
To show our faith, we guarantee it -- there is no risk. Customers' access and use of the site is also
subject to the following terms and conditions ("Terms and Conditions") and all applicable laws.
By accessing and browsing the site, they accept, without limitation or qualification, the Terms and
Conditions and acknowledge that any other agreements between them and Exotic vibez are
superseded and have no force or effect. We will offer a 14 day return/exchange policy to build
trust with our customers and maintain retention and loyality.
The table below shows the marketing strategies adopted by Exotic vibez
OFFLINE ONLINE
 Partnership and network
 Event Marketing
 Word of Mouth Marketing
 Print Media
 Website Development
 Search Engine Optimization (SEO)
 Social Media Marketing
 Content Marketing
 Email Marketing
 Blogging
 Ads
ACTION: Partnership and Networking
TIME FRAME: This should always be.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
31 | P a g e
 Partnership and
Networking
 Spur strategic partnerships
with potential customers.
 Build and maintain a
sustainable relationship
capacity
 Increase network on social
media
 Reach more clients and
increase client base
 Drawing on a wider pool of
technical expertise
 Creating more quality
products
 Achieving genuinely earned
organizational reputation and
greater credibility
ACTION: Online Presence
TIME FRAME: This should be done within the first four (4) weeks of plan execution.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Website
 Social Media
Accounts
 Blog
 Listings and
Directories
 Develop an optimized
company website with state-
of-the-art features and
thought-provoking contents
 Integrate it with appealing
designs, features, and
contents for massive traffic
 Creating and engagement on
Social Media platforms –
Facebook, Instagram,
Twitter, YouTube, etc.
 Creation of the company's
blog.
 Listing on online directories
and listings such as Google
My Business, V Connect,
Finelib, etc.
 Build an email list
 Build a stronger brand
 Increase credibility
 Brand visibility
 Increase communication and
interaction
 Increase sales leads
 Increase sales revenue
 Boost website traffic
 Faster word of mouth
32 | P a g e
ACTION: Content Creation
TIME FRAME: This should be done at least twice a week
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Website
 Social Media
Accounts
 Blog
 Listings and
Directories
 Creative use of keywords
that match our service
offering
 Regular update of contents.
 Increase brand awareness
 Improved brand loyalty
 Higher conversion rate
 Better ranking of the website.
 Improved visibility through
organic searches on search
engines.
 Increased traffic on the
website
 Better customer satisfaction
ACTION: Email Campaigns
TIME FRAME: This should begin after the first month of marketing plan execution.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Across contact
points.
 Gathering database and
emails of website visitors and
customers.
 Develop intriguing content
and progress updates
 Keep customers up to date
with the latest happenings
and promote events
 Integrating social sharing
buttons into emails
 Better participation
 Improved engagement
 Boost support
 Increased donations
 Reinforced credibility
ACTION: Google Ads; Social Media Ads; Online Reviews.
33 | P a g e
TIME-FRAME: This should be done quarterly and be continuously reviewed.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Google page.
 Social Media
Accounts.
 Other Web
pages, as
suggested by
Google.
 Setting up a Google Ads
account/grants
 Creating Ads (Video,
Image, or text).
 Post Ads on platforms.
 Build strong brand
awareness
 Increased engagement.
 Improved visibility of the
brand.
ACTION: Print Materials; Signage.
TIME FRAME: This should be done continuously and subject to review at least twice a
year.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Signage
 Brochures
 Flyers
 Flex banner
 Printing of materials with
the company's name,
logo, contact
information, and
description.
 Mailing of print materials
to the target audience.
 Distribution and
placement of materials at
strategic points.
 Establish business
authority and credibility
 Increase brand awareness
 Improved brand
popularity
 Business visibility
 Build Trust
 Increased website traffic.
ACTION: Word of Mouth/Referral
TIME FRAME: This should be done continuously and subject to review at least quarterly
in a year
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
34 | P a g e
 Online.
 Offline.
 Website visitors will be
requested to make referrals
 Craft a compelling narrative
 Increase brand awareness
and reputation
 Increase marketing reach
 Improved brand exposure
5.5 OUR PRICING SCHEDULE
There may be varying prices on items on request. We will keep the prices of our services below
the average market rate for all of our clients by keeping our overhead low and by collecting
payment in advance from clients. We believe that our pricing system will ascertain profitability
without compromising quality and customer return. We will ensure and strive to offer our services
at very comfortable and competitive prices; this will be subject to change when necessary. Also,
we will offer special discounted rates to all our customers at regular intervals.
In the first year of operations, we will be marketing a low price scale to grow attention to the
company as affordable, and as the business grows, we will mark up. We will ensure and strive to
offer our products at very comfortable and competitive prices continually. We will never
compromise the quality and standard of our products, services, and business brand to ascertain
affordability. We will never compromise the quality and standard of our products. Every pound
spent will be accounted for through quality value and timelessness.
5.6 COMMUNICATION STRATEGY
We at Exotic vibez believe firmly in the power of effective communication to bring our clients
closer. One of the strategies we will adopt to keep our clients satisfied is through
a seamless well-structured customer communication channel. We will
make an extra effort to ensure that our clients and we are timely and
efficient. We believe the effective exchange of ideas is essential for
everyone associated with Exotic vibez Proper communication and
comprehension reduces conflict, which in turn creates value for
everyone involved. Our contact addresses will be made available for
easy access, inquiries, complaints, feedback, and suggestions.
35 | P a g e
5.7 EXIT STRATEGY
The owner of Exotic vibez has absolute confidence in the business and believes that it will be
profitable and successful based on the market need for the business and the viability of the selected
location. However, if the business fails, the following measures will be taken:
 Re-strategize, analyze the reason for the initial failure, and preparedly venture into it
again
 Sell the business out to a company or individual interested in buying
 Get help from family and friends to repay all outstanding debts if there is any
6 MANAGEMENT OVERVIEW
6.1 DESCRIPTION
Exotic vibez is an online retail boutique based in USA but with a vision of growing the business
to become a global brand with a presence in all the world's continents. To achieve this vision, we
have laid the right plans to ensure that our foundation is strong but stays true to our core values
and vision as a company. We will position our company for growth. At Exotic vibez, we will
ensure that we hire qualified, hardworking, creative, and customer-centric and are ready to work
to help us build a prosperous business that will benefit all our stakeholders. Our entire team of
workers will identify with our vision and be trained to know what it takes to create a link for our
company to rise from where we are at present to where we intend to be in the future. We will
ensure that our team of staff gain the expertise required to work in this industry and bring it to a
standard envied by our competitors.
6.2 MANAGEMENT STRUCTURE
As a small business, we will have a small staff. The leadership roles within the company and will
be responsible for daily operations, overseeing marketing efforts, buying merchandise and
managing inventory and all other administrative duties. A small sales staff will assist ownerswith
securing sales, assisting customers and general maintenance of stock on the floor. The CEO;
36 | P a g e
Amanda parker already has everything to start a retail clothing business. The business sees to offer
expertise in best in the United states market. Adequate online marketing strategies will be put in
place to ensure that a large population of our target market is informed about our presence in the
market. We’re poised to be successful and project adequate revenue for profitability and the
sustainability of the business.
6.3 METRICS AND MILESTONES
Table: Milestones
Checklist Progress
Business Name Availability Check Completed
Business Registration Completed
Development of E-commerce platform In Progress
Opening of Corporate Bank Accounts: In Progress
Opening Mobile Money Accounts In Progress
Application and Obtaining Tax Payer’s I.D. In Progress
Application for business license and permit In Progress
Purchase of Insurance for the Business In Progress
Renting of our Business flagship facility In Progress
Conducting Feasibility Studies In Progress
Writing of Business Plan Completed
Drafting of Employee’s Handbook In Progress
Drafting of Contract Documents and other relevant Legal Documents In Progress
Design of The Company’s Logo In Progress
37 | P a g e
Graphic Designs and Printing of Packaging Marketing / Promotional
Materials
In Progress
Recruitment of employees In Progress
Purchase of the Needed furniture, electronic appliances et al In Progress
Creating an Official Website for the Company In Progress
Creating awareness for the business both online and offline In Progress
Opening / launching party In Progress

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Exotc vibez 1.pdf

  • 1. Business Plan Exotic Vibez By: Amanda Parker 03/10/2022
  • 2. 2 | P a g e Table of Contents Confidentiality Agreement.............................................................................................................. 4 1 Executive Summary................................................................................................................ 5 1.1 Risk Factors...................................................................................................................... 7 1.2 Source of Revenue ........................................................................................................... 8 1.3 Mission Statement............................................................................................................ 8 1.4 Vision Statement .............................................................................................................. 9 1.5 Business Objectives.......................................................................................................... 9 1.6 Our Approach................................................................................................................. 10 1.7 Keys to Success.............................................................................................................. 10 2 Company Overview .............................................................................................................. 12 2.1 Company Description..................................................................................................... 12 2.2 Legal Status.................................................................................................................... 13 2.3 Guiding Principles.......................................................................................................... 13 2.4 Team............................................................................................................................... 14 2.4 Our Purpose.................................................................................................................... 14 3 Our Products ......................................................................................................................... 15 3.1 Target Market................................................................................................................. 16 4 Market Analysis and Research.............................................................................................. 16 4.1 Market Research Summary............................................................................................ 16 4.2 Current Competitors....................................................................................................... 24 4.3 SWOT Analysis.............................................................................................................. 25 4.3.1 Recommendations................................................................................................... 27 5 Strategies and Implementation Summary............................................................................. 27 5.1 Competitive Strategy...................................................................................................... 27
  • 3. 3 | P a g e 5.2 Strategic Goals ............................................................................................................... 28 5.3 Growth Strategy ............................................................................................................. 29 5.4 Sales and Marketing Strategy......................................................................................... 29 5.5 Our Pricing Schedule ..................................................................................................... 34 5.6 Communication Strategy................................................................................................ 34 5.7 Exit Strategy................................................................................................................... 35 6 Management Overview......................................................................................................... 35 6.1 Description ..................................................................................................................... 35 6.2 Management Structure ................................................................................................... 35 6.3 Metrics and Milestones .................................................................................................. 36
  • 4. 4 | P a g e CONFIDENTIALITY AGREEMENT The undersigned reader acknowledges that the information provided by Exotic vibezin this business plan is confidential; therefore, the reader agrees not to disclose it without the express written permission of Exotic vibez. It is acknowledged by the reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by the reader may cause severe harm or damage to Exotic vibez Upon request, this document is to be immediately returned to Exotic vibez Signature Exotic vibez Name (typed or printed) Date
  • 5. 5 | P a g e 1 EXECUTIVE SUMMARY Everybody knows that retail stores are a profitable business; no matter what is being sold, people will always be willing to buy products or services on sale. However, a retail store is limited to its geographical location. For cost minimization and revenue maximization, there are no limits to the internet. With a physical shop, sellers are limited to many financial factors in their geographical location. The internet has no limits when it comes down to geographical location; a seller could be in Jamaica and sell from his/her home to customers in the USA and wherever. While internet retailing continues to expand, it is also becoming more competitive than ever to sell online. In 2019 the Cumulative data compiled within The Fashion and Apparel Industry Report painted a bright portrait with worldwide revenue expected to rise from $481.2 billion in 2018 to $712.9 billion by 2022. With clothing's absolute growth numbers steadily climbing, western-market saturation is the most likely source of this trend. When growth rates are compared, it is expected to settle with an increase of 8.8% in the U.S., 8.7% in Europe. A substantially big opportunity in the retail e-commerce industry and Exotic vibezhas been established to capture a significant market share in USA. Exotic vibezis a start-up retail establishment that will sell unique clothing to everyone of the exotic generation. This business will be a casual urban wear traditional clothing store which will be runby the owner Amanda Parker. We strive to bring in the latest products worldwide, keeping up with the latest and most significant trends and technologies. We strongly believe people deserve to achieve a state of grace that only comes from being kind to oneself and loving oneself. Our responsibility is to create the most comprehensive array of options to give men and women across the globe complete control over their appearance and their lifestyle. We understand our customers' needs and are committed to quality, competitive pricing, and customer service. This is why we have strict requirements when selecting suppliers. In our search for ethical products, we conduct quality inspections, looking for the characteristics our products embody: flexibility in styling, fullness, body, longevity, and purity. We continually look for brands
  • 6. 6 | P a g e that value transparency and quality. These brands are designing and manufacturing basics, like denim and dresses. When we invest in high-quality clothes, we consume and spend less and live more simply. Our initial goal is to create a seamless online shopping experience for comfortable, luxury, and stylish fashion products and building a well-recognized brand name.in turn, we would hope to penetrate a sizeable portion of the online retail market. As we introduce our unique niche to the market, we shall continue to expand our business. Our scope of offerings will increase in variety, simplicity, and convenience. Our growth will be attributed to each member of the Exotic vibezfamily's hard work and dedication. At Exotic vibez, we shall facilitate and empower our staff and the customers that access our service to reach their potential because we care about helping others achieve their goals and dreams. We will be highly customer-centric, and we are committed to finding innovative ways of improving our customers' experience with us. We have all had to go through a significant learning curve and continue to do so daily as the only way to grow our business is to expand our knowledge of the market and the industry in general. As a growing player, we will keep our fingers on the industry's pulse and learn and grow wherever we can. As a company, we are a solely-owned and managed business, and we pride ourselves on our customer service and ethical standards and always try to give our customers that personal touch. We are obsessed with quality, attention to detail, and personalized service as we shall brand each of our products to match customers' values and societal needs. Even though we are always looking for new avenues to market our exceptional services, no one is too big or too small for us. From the corporate world to personal service, we will value all our clients. We understand that a business's success starts from its business structure; to build the best business structure, we will hire competent and experienced professionals who have the required experience to ensure that our company makes it to the top where it gets to compete with the market leaders. Also, our workers understand our vision and are willing to work to see it come to fruition. We
  • 7. 7 | P a g e have a 24/7 customer service help desk that operates to ensure that customers have the smoothest and itch-free trading experience. Our product prices are some of the lowest in the market. While profit is essential to carry on with any business, it is not what drives our passion. Our customer community includes the growing ranks of health-conscious people who prefer natural and organic products. Customer feedback is a fundamental component of our research and development. Our customer community spurs the innovation that creates our new product lines. We aim to become a pioneer in the international sector, and for this purpose, our business model includes investing opportunities. Exotic vibezis continuously looking for new business partners to establish reliable, long-lasting relationships thanks to innovative projects based on careful studies and market analysis. We believe that networking and partnerships between companies can fuel our development. We present the answer to a growing demand for innovative, realistic, professional, and internationally scalable services, and our investors can benefit from our extensive experience. Our professionalism, knowledge, and strong organization will enhance all of our services, both implemented or in a development state, guaranteeing fast and reliable growth for every investment. We operate our business with a deep reverence for men, women, children, the Earth, communities, and cultures, believing that the wisdom of each of these is a source of hope and healing in our world today. With a dedication to organic, fair trade, and small business, Exotic vibezis passionate about finding creative ways to support communities and the planet. We will locate Exotic vibezbusiness at 4305 25th Ave NE, #22 Salem,OR 97301. 1.1 RISK FACTORS Business risk is the exposure of a company or organization to factor(s) that will lower its profits or lead it to fail; thus, any company has to ensure that these factors that threaten its ability to meet its target or achieve its goals are minimized to the barest. Considering our business's nature, the possible risks are catering to customer demand changes, limited time to deliver orders, fluctuations in the market trend, and unexpected increase in materials' price due to worsening economic situation. However, strategic steps will be taken to efficiently understand these likely challenges and prepare to prevent or deal with them. We will ensure that these risks are minimized to the barest by;
  • 8. 8 | P a g e  Adopting effective strategies to promote our brand, our values, our vision, and goals  Investing enough funds into the business to cater for all essential business operations  Having credible sponsors who would find the business until stability  Keeping a beautiful catalog of all our products and ensuring that we properly take the orders of our customers  Producing excellent quality apparel  Offering the best services at a customer-friendly cost by being fair to ourselves and with our pricing to our customers  Building a symbiotic relationship with customers (contracts and negotiation) and making the service exceed their expectations  We will build a substantially large customer base; by a growing network of customers big enough to support our business 1.2 SOURCE OF REVENUE Primarily, the company's revenue stream will be mainly from the sales of clothing products offered to customers. We would also generate revenue from the sales of accessories and promotional products made in the company. With time, additional revenue may be generated from the traffic drawn through the company's website. 1.3 MISSION STATEMENT Exotic vibezis a retailo clothing store specializing in unique clothing and accessories. We encourage customers to be experimental with new clothing styles. Our mission is to understand what our customers’ needs and hopes are after buying wear clothing and provide a friendly and personalized shopping experience. At Exotic vibez, we celebrate men and women in their real, raw, and most authentic selves, as well as their, alter ego. We want to create an online platform built on creativity that provides exceptional designs and patterns to enhance our client's lifestyle and fashion sense. Exotic vibezwill maintain financial balance while delivering a quality products to our customers. We will make our clothing accessible by way of establishing a retail location, fashion shows, and events. We will make a profit and generate cash. We will provide a
  • 9. 9 | P a g e rewarding work environment and fair compensation to our employees; ultimately provide excellent value to our customers, and a fair return to our owners. 1.4 VISION STATEMENT Exotic vibez's vision is to grow worldwide in the next five years and become one of the next big eCommerce businesses. We want to become a leading provider of high-quality and fashionable apparel and services worldwide. We’re committed to achieving new standard of excellence br providing superior human capital management services and maximizing the potential of all staeholders- clients, candidates and employees-through the delivery of the most reliable responsive. To be the most favorite lifestyle and fashion supply retailer with an international standard where professionalism, excellence, customer care, and passion is evident in all its operations. To partner with major brands and stakeholders and become the USA biggest and most impactful fashion and lifestyle brand by 2035. 1.5 BUSINESS OBJECTIVES The main objective of every business is to be successful and thrive well over time. By successful, we refer to a large client base, constantly increasing patronage, rapid business growth, and huge profits. Exotic vibezseeks to run a business that will succeed in revenue and size and have a landmark impact globally. To achieve this, Exotic vibezhas set the following objectives:  To establish brand awareness  Become a recognized leader in the community for providing outstanding and high quality apparel not just in USA but across the globe  To develop an online presence by using our website with company information for advertising  To aggressively expand during the first three years of operation  Create a service-based company whose primary goal is to exceed customers' expectations  Establish a minimum 95% customer satisfaction rate to establish long-term relationships with our clients, create word of mouth marketing and build professional referrals
  • 10. 10 | P a g e  To drive awareness and build sales through mentions in both local print and the nation's top fashion magazines  Advertise and promote in areas that our target customer base will learn about our store  Give our customers the best of high-quality products and services.  Continuously review our inventory and sales and adjust our inventory levels accordingly  Work with professional pride and passion  Strive for long-lasting partnerships by creating added value for our customers  Maintain a very high gross profit margin  Maintain a steadily growing net profit margin through an increase in sales, frequency of sales  Maintain proper business operations and strategies to ascertain the continuous growth of the company  To operate the business as environmentally friendly as possible.  Provide quality clothing and customer service at a reasonable price 1.6 OUR APPROACH What makes us competitive with other retail sectors is our extreme attention to detail and our advanced productivity focus. We know that we are entrusted with the brand image of the products we distribute and retail. Therefore, we strive to express these brand images in strict respect to their foreign owners' and managers' wishes. 1.7 KEYS TO SUCCESS With Exotic vibez, we saw great potential for a new retail development segment showcasing niche and alternative brands never seen before in USA. This remains a unique concept in the USA We believe in providing a relevant shopping experience to a relevant portion of the USA population. Our keys are; Our Culture: Our team consists of men and women with a true entrepreneurial spirit who are not only future-forward and trend-led but care about our customers as well as their shopping experience. Our customers inform much of our brand and store, from manufacturing, sourcing, and marketing to the entire user shopping experience.
  • 11. 11 | P a g e Best Quality: We stock and market only the best quality product and the best in the world. Knowledge about the Industry: To stand out in the industry, we will continually update personal and corporate knowledge about the trending, latest, and most profitable industry styles and techniques while employing innovative ideas that comply with local and international industry standards. Value-added services: Exotic vibezwill ensure that services are focused on offering great values to customers and not a proportional match to monetary value, but values beyond the price. Affordable price point: The company will always look for better ways to make their cost rates more appealing, friendly, and attractive to the whole spectrum of clients they are focused on attracting. Fastest Delivery: We guarantee safe and fast delivery of orders within acceptable time limits, both locally and overseas. Local and Global Reach: With a global network of supply chain partners, we offer our services both domestically in the USAand the rest of the world Customer Care: Our Customer care section is on duty 24/7 to answer questions and attend to needs promptly. Our support staff is on duty 24/7 to answer questions and attend to needs promptly. Easy to navigate: Our online store will be well laid out and simple to use. From the first site visit to the site, our customers are guided through the store step by step through searching for a specific item. We want to ensure the purchase is quick, convenient, and efficient. Safe and secure shopping: Once the desired items are in their shopping cart, customers can choose from various payment options. Payment can be made easily online, either via EFT or via credit card. However, we pride ourselves in our Cash on Delivery service, where customers can opt to pay cash once their items are delivered to their doorstep. After a successful purchase, customers are informed about the current status of their order using email communication. Each customer receives a unique tracking number to follow up on their order up until delivery. Product range: Exotic vibezoffers various leading manufacturing brands for men and women. All of our products are supplied by authorized manufacturers and are 100% authentic. We ensure that our product selection is updated with the latest product launches and seasonal trends.
  • 12. 12 | P a g e 2 COMPANY OVERVIEW 2.1 COMPANY DESCRIPTION Exotic vibezis a retail fashion, lifestyle, and trend store founded by Rodrigue Kragba. Exotic vibezis an upscale destination and one of USA’s fastest-growing brands. It is much more than a supply outlet but is indeed an embodiment of a lifestyle dedicated to living life at its best and highest quality. We are a young, dynamic company seeking to maximize our competitive advantage acquired through channel management (particularly a strong connection to commercial locations) and productivity management. We are dedicated to helping men and women achieve the best in looks, appearance, and quality of life. Our products are of high quality and are sold at uniform wholesale and customer-friendly prices. Our product lines include the highest quality of European, African, and Asian products alongside a premium quality indigenous line of clothes for the lover of sensational fashion. Millennial is designed to help customers change their look without buying an entirely new wardrobe. We will cater to the person wanting to build a new wardrobe by purchasing clothing and accessory pieces to add to clothing they already have. Customers will rely on the business they purchase pieces from to give them continuous help and personal opinions. Theirs is a business that repeats and it will be easy to establish a strong clientele. Customers will save money from having to buy a complete outfit by just purchasing pieces. They will also enjoy shopping in stores that are well inventoried and serviced-minded, such as Exotic. Exotic vibezwill also cater to all types of customers and for all occasions other than routine shopping. Examples: friends buying gifts for their friends. Exotic vibez’s clothing store will be a source of wearable gifts. The company is a new business aimed at providing ladies of the Exotic generation stylish clothing options to buy and wear. As the company’s founders and as Exotic ourselves. In fact, most clothing shops for the youth are still selling clothes that our grandmothers would have worn.
  • 13. 13 | P a g e As our company grows and we earn a positive reputation, several opportunities will open to us. We will develop and grow our company by increasing existing product lines and expanding our selection to include additional products. Within five years, we will assess the potential for franchising our stores in select locations. We understand the power and ease of an online storefront, and therefore we are intensifying an effort to spread awareness of our product line and brand to a broader community. 2.2 LEGAL STATUS The overriding aim of Exotic vibezis to be the best in everything we do. Our simple objective is to build on our reputation for quality. We aim to stand out from others by maintaining the highest levels of integrity in all our dealings, balancing the requirements of customers and others we serve with those of our shareholders, staff, suppliers, and the regulatory authorities. Exotic vibezplaces the rights of service users at the forefront of our philosophy. We seek to advance these rights in all aspects of the products and services we provide and to encourage our users to exercise these rights to the full. 2.3 GUIDING PRINCIPLES Guiding principles are broad philosophies that encompass a company’s values and guide an organization throughout, irrespective of the changes in the strategies. They are significant in creating a successful and sustainable business. Our values are of enormous importance to us; they are principles that we uphold in high esteem for our business. They are the bedrock of our business thought process, and they guide us collectively as a company and uphold by any individual associated with the company. Exotic vibez exhibits certain principles and philosophies that distinguish us from others. Some of these principles include;  We will offer our clients custom pieces that suit their tastes and preferences  We will ensure to build enduring and meaningful relationships  We will thrive beyond contemporary standards  We will communicate with clarity and professionalism  We are honorable and operate with integrity  We will aim for success, be intentional and execute the plan
  • 14. 14 | P a g e  We will uphold our core values and key factors to success  We will delight our clients by delivering only quality services that are proven for excellent results through sustainable innovation and creativity  We strive to grow our business through differentiated capabilities  We listen, assume positive intent, and then speak with candor  We embrace creativity to get better every day  We will ensure to build enduring and meaningful relationships  We sustain our company and our world for future generations  We are faith-friendly, inclusive, and through intentional collaboration, we win.  We commit daily to deliver results the right way 2.4 TEAM We approach our work with passion and resiliency to get things done effectively, timely, and on a budget to best serve our customers. At the heart of Exotic vibez is a simple, powerful concept — regardless of experience, role, or location, we operate as one team. Our team is driven by values that underpin everything we do, describe the qualities we share, inform the way we work, and connect us worldwide. Through our dedicated team and the values we embody, we will continue to expand our brand's world of possibilities. 2.4 OUR PURPOSE Being a relatively new company, we shall be known for creative innovation, originality, creativity, exceptional choice, and unbeatable quality. We will be at the forefront of the industry, continuously pioneering new application systems, investing in the development of safer, faster, and better technologies that have undoubtedly shaped the market and earned us the reputation for being The Experts in superior, top designers’ wear. We promise to guarantee high-quality products at the best prices, delivered with a service one can trust and the assurance of fair trading terms. We are inspired to:  Drive innovation that makes the world safer builds healthy and vibrant communities and increases productivity.  Harness our reach around the globe to better society, business, and the planet.  Push ourselves and our industry peers to be more responsible, inclusive, and sustainable.
  • 15. 15 | P a g e  We have big ambitions, and a growing sense of urgency to work with others and address world challenges no one can tackle alone. 3 OUR PRODUCTS We trawl the globe to provide men and women worldwide with the world’s bestselling lifestyle, fashion, and trendy products. We are a dedicated team of retail enthusiasts on the hunt for the best products the world has to offer. With numerous differentiated brands and products listed under different categories, we have successfully served all the textile and fashion industry segments. Besides providing effective business solutions, we also offer textile-based information through our informative articles, news, market analytical reports on fiber and feedstock, and various print features. Moreover, we will tailor our inventory to meet the needs of various classes of customers. Exoticvibez will sell a combination of widely recognized name brands as well as clothing lines from select fashion designers. We will closely follow generational fashiontrends as well as our customer’s purchasing preferences. Exotic vibez will regularly launch freshly inspired ranges. The styles offer a unique design for use every day at work, events, school, inspiring creativity, a love for nature, and play. In addition, the exclusively independent clothing brand can apply economies of scale, offering the utmost comfort and quality at affordable prices. Each season, our male, female, and unisex collections are meticulously collated to tell an original, whimsical, and beautiful story. Most importantly, everything we create at Exotic vibezcomes from the heart, with an eco- friendly sustainable approach, from our detailed designs to the special care and thought given to all aspects of an online shopping experience with us. Our goal is to implement a superior customer service system. Our primary concern will be ensuring our consumers are happy with the fit and style of the purchase, we will provide tailored to all shapes and sizes of women.
  • 16. 16 | P a g e 3.1 TARGET MARKET The fashion and retail industry tends to be overly adult-focused. However, by closely following generational fashion trends and our own customers’ purchasing preferences, we will tailor our inventory to meet the specific needs of our clients. We will solely focus on our styles, colors, and fits to flatter our clients and make meeting their needs our specialty. The goal is to serve the cannabis lifestyle. We expect most of our products to catch up with men and women between 18-35 years old. 4 MARKET ANALYSIS AND RESEARCH 4.1 MARKET RESEARCH SUMMARY Global Market The global clothing and apparel market reached a value of nearly $758.4 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.5% since 2014, and is expected to grow at a CAGR of 11.8% to nearly $1,182.9 billion by 2022. Growth in the historic period resulted from emerging markets growth and technological advances. Factors that negatively affected growth in the historic period were a lack of resources and increasing inventory levels. Going forward, the growth of e-commerce and favorable government regulations on apparel manufacturing will drive growth. Factors that could hinder the growth of the clothing and apparel market in the future include reductions in free trade and the growing production of counterfeit products. The clothing and apparel market is segmented by type of apparel into women's wear, men's wear, and kid's wear. Women's wear was the largest segment of the clothing and apparel market by type of apparel in 2018 at 55.7%. The men's wear market is expected to be the fastest-growing segment going forward at a CAGR of 16.4%. The women's wear market is segmented by type of apparel into dresses and skirts, trousers, blouses, jerseys, sweatshirts and pullovers, coats and jackets, suits and ensembles, sports and swimwear, t-shirts and singlets, night and underwear (women and girls) and blazers and others. Dresses & skirts were the largest segments of the women's wear market in 2018 at 23.3%. The men's wear market is segmented by type of apparel into trousers, shirts, jerseys, sweatshirts and pullovers, coats and jackets, blazers, and suits, night and underwear (men and boys), t-shirts
  • 17. 17 | P a g e and singlets, sports and swimwear and others. Trousers were the largest segment of the men's wear market by type of apparel in 2018 at 35.4%. The kid's wear market is segmented by type of apparel into infant and toddler clothes, and young children clothes. Young children clothes were the largest segment of the kid's wear market by type of apparel in 2018 at 68.1%. Asia-Pacific was the largest apparel market, accounting for 45.6% of the global market in 2018. It was followed by Western Europe, North America, and then the other regions. Going forward, the fastest-growing regions in the clothing and apparel market will be Asia-Pacific and Africa, where growth will be at CAGRs of 15.4% and 14.3% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 14.0% and 11.6% respectively. The clothing and apparel market is highly fragmented, with many small players. The top ten players constitute 8.07% of the market. Major players in the market include NIKE, Inc., Adidas AG, PVH Corp., V.F. Corporation, and Hanesbrands Inc. The global apparel and leather products market, of which the clothing and apparel market is a segment, reached a value of nearly $1,050.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.6% since 2014, and is expected to grow at a CAGR of 8.4% to nearly $1,623.0 billion by 2022. The apparel segment is expected to be the fastest growing segment in the apparel and leather products market at a CAGR of 11.8% during 2018-2022. Top E-commerce Trends 2020:
  • 18. 18 | P a g e Are you wondering what the future of e-commerce looks like? Do you want to look into what trends will shape the success of your online store? Here are the top 10 e-commerce trends for 2020 that you need to look out for. 1. Online Sales Growth is Unstoppable E-commerce sales have been growing constantly and for good reason. Online shopping is one of the most popular online activities. The sales are projected to increase from 1.3 trillion in 2014 to 4.5 trillion in 2021 (Statista, 2019). That’s a massive figure. It would mean a threefold growth over 7 years. Even though online shopping is one of the most popular online activities, the usage varies by region. With the increasing popularity of e-commerce stores, a rising number of people are turning to online shopping. This increase in online shopping can be attributed to a number of factors. One of the main ones is arguably the level of comfort that is provided to online shoppers. There is also an increase in trust that online buyers have when they are purchasing online, as well as an improved website experience. At one point, people used to be hesitant to buy things online, but that’s no longer the case. Websites have been made more customer-friendly. With all the comfort that is provided, there’s no surprise that online sales growth is becoming unstoppable. 2. The Future of E-commerce after COVID-19 Undeniably, one of the biggest impacts—if not the biggest—on e-commerce trends in 2020 will be COVID-19. With governments worldwide shutting stores and implementing lockdowns to restrict social movement for months on end in a bid to combat the coronavirus, more and more
  • 19. 19 | P a g e people are resorting to online shopping to purchase items. Already, e-commerce giant Amazon’s Jeff Bezos has seen his fortune grow by nearly $24 billion thanks to increased customer demand for Amazon’s products and services. And experts predict that the impact of the coronavirus will not just be a short-term boost to e-commerce but one that’s here to stay, even after COVID-19. This is because people will get comfortable with the comfort and convenience it offers and the benefits of contactless payments, both of which are likely to cause a permanent behavioral shift towards digital purchases. Market analysts say that the e-commerce industry will be the biggest beneficiaries of the coronavirus pandemic. Penetration rates, which are currently at 15 percent, are expected to increase to 25 percent by 2025 (MarketWatch, 2020). That marks a 67 percent increase in five years. The positive COVID-19 impact on e-commerce, unfortunately, spells a heavy loss for brick-and- mortar stores. As many as 100,000 are forecast to shut over the next five years. At an estimated 24,000 closures, apparel retailers will be the most affected, followed by 12,000 consumer electronics stores, and 11,000 home furnishings and grocery stores each. 3. Mobile Shopping is Growing The growth of mobile commerce has been noteworthy. Since 2016, sales made via mobile devices increased by 15%. By the end of 2021, 73% of e-commerce sales will take place on a mobile device (Statista, 2019). These figures can’t be ignored. Improving the e-commerce experience for mobile customers can be a huge opportunity for businesses to tap into. E-commerce growth has been driven in part by the increase in the usage of mobile devices. People don’t just shop online, they also use their mobile devices to browse or research before making their minds up about their purchase. As trust in online shopping is increasing, consumers feel more
  • 20. 20 | P a g e comfortable shopping on mobile devices than ever before. Especially when it comes to Millenials and Gen Z who have grown up surrounded by computers and the internet. These generations are also more likely to be shopping online using their mobile devices, in comparison to older generations. As a result, more and more sites are now optimized for mobile use. Make sure that not only your website but your online store is optimized for mobile devices as well. By doing this, you’re making e-commerce simpler and more accessible for a larger audience. 4. Rise of Voice Commerce Voice shopping is growing among Internet users. 13% of U.S. smart speaker owners say that they were making purchases by voice at the end of 2017. That number is predicted to grow to 55% by 2022 (OC&C Strategy Consultants, 2018). The total spending on voice shopping has also gone up in the UK. This e-commerce trend has grown in popularity mainly since 2014 when Amazon launched its smart speaker – Echo. While voice shopping is still in its early stages, this statistic shows us that it will become increasingly popular in the coming years. Voice shopping is a non-visual experience, which means that customers have to select their products by providing a verbal description of what they are looking for. This restricts the scope of browsing for a product before actually selecting it. To dig a little deeper, voice shopping is mainly used by customers as a sales channel. This means that instead of using voice search as a browsing experience to research what they have to buy, they use voice search once they have already decided on their purchase. Purchased products via voice search are usually low-value products and include categories such as food items, or low-cost electronics and homeware products. The rise of interest in voice shopping means that businesses will have to take note and provide customers with the comfort that they are looking for when buying products. 5. Evolving Role of Social Media in E-commerce
  • 21. 21 | P a g e The number of social shoppers is also rapidly increasing. With the introduction of the “Buy” button on Facebook and Instagram Checkout, social media is playing a significant role in the world of e- commerce. Social media has changed the way we live our daily lives, including the way we buy things. This is a great opportunity for brands to start thinking about how to improve their position on social media, which is a great platform for brands to get discovered. With consumers spending more time on different types of social media, e-commerce businesses can get help from Instagram influencers to increase their chances of getting discovered by their target audience. Additionally, with platforms like Shopify, businesses can easily link their online stores with social media sites so that people can buy from them directly through social media. Instagram and Facebook, for example, are constantly updating their features to meet the comfort needs of online buyers. And who can forget TikTok – the latest and rising rave within the world of social media that has not only made its way into the hearts of teens but also around Hollywood? The video-sharing app has been working on incorporating e-commerce elements and its latest efforts include testing a new feature that will allow users to include shoppable links in their profiles or videos. This means that users who click on the link will be taken to the URL within TikTok itself without having to leave the app to access the site. These social media platforms act as channels for inspiration and allow brands an opportunity to be discovered while people scroll through their feeds. As social media continues to become a regular part of our daily lives, its power to influence e-commerce trends will only increase. That’s why brands need to adopt a shopping- focused approach to their social media strategy. 6. Environmental Topics Influence Buyers Green consumerism is on the rise, and brands need to take action. Half of the digital consumers say that environmental concerns impact their purchasing decisions. E-commerce businesses should strive for creating more sustainable practices. People are now becoming more conscious of the environment than ever before and for the right reasons. Online businesses need to step in and make
  • 22. 22 | P a g e sure that their practices are environmentally friendly. This includes practices of sourcing products from fair-trade organizations to help create a greener e-commerce environment. Millennials are paving the way forward to greener consumerism habits. Whether it’s free-range meat or vegan skincare products, there is an increasing demand for taking care of our environment. Consumers feel more responsible for the planet, which in turn increases the responsibility for brands to cater to the eco-friendly needs of customers. 7. Role of Artificial Intelligence Global retailer spending on Artificial Intelligence (AI) will reach $7.3 billion per annum by 2022, up from an estimated $2 billion in 2018 (BusinessWire, 2018). This happens as retailers target new avenues to increase the personalization of the customer experience. This research shows us that retailers are willing to heavily invest in tools that will help them to improve their services to customers and give them a competitive advantage. These AI tools range from automated marketing platforms that are equipped to generate timely offers, to chatbots that respond to customer queries instantly. Other areas where AI will be helpful for retailers include AI-optimized pricing and discounting, as well as demand forecasting. The role of AI will become stronger in the coming years, as retailers invest in improving areas such as customer service where AI can be useful to understand the reactions of customers to the product or service purchased. This will play a big role in solving how retailers can improve customer experience. To stay competitive retailers must invest in this e-commerce trend. 8. Augmented Reality Transforms How We Shop By 2022 over 120,000 stores will be using Augmented Reality (AR) technologies, offering a much richer buying experience (Prnewswire, 2018). AR uptake in the sector will be driven by the retail workforce and online shoppers. One of the main concerns that people have when shopping online is the inability
  • 23. 23 | P a g e to see the product firsthand. AR technology helps bridge this gap and enables online shoppers to better visualize the products that they are interested in. For online customers, this could be a game- changer. AR experiences can change the way that online customers perceive the products that they intend to buy. With the use of AR, customers will be able to better understand their needs and if the products that they intend to purchase meet their demands. Some e-commerce brands have already started to experiment with AR, which will help them stand out from the competition. Delivering more personalized experiences to consumers will allow for better online shopping. Companies are using AR not only to enhance the customer experience but also to allow shoppers the ability to test and explore products in the way that they would do during an in-person shopping experience. 9. Personalization is the Future More than 50% of shoppers say that personalized online experience is important (Bazaarvoice, 2018). Adding to that, 74% of marketers believe personalization has a “strong” or “extreme” impact on advancing customer relationships (Evergage, 2018). Personalizing the online shopping experience is the key to keeping customers satisfied. People shopping online want help to find the products that they need, and they value a more personalized experience. As a result of poor product recommendations, online shoppers might avoid certain stores altogether. E-commerce sites are on board with this trend and are investing in personalization tactics to make the online shopping experience a better one. This could include the personalization of messages that go out via email, or by providing the right information to the interested consumer group. By offering personalized customer communications, providing relevant discounts, and engaging with customers through, for instance, video content, will help deliver a better shopping experience and strengthen the bond with your customers. 10. Visual Commerce Is on the Rise One of the many difficulties of running an e-commerce store is having to sell your product to consumers who have no chance of physical interaction with your product. That’s where visual commerce comes into play. In
  • 24. 24 | P a g e short, visual commerce is the next generation of normal static visuals. It takes marketing to a whole other level as instead of simply using product photos to market your business, visual commerce takes it one step further by incorporating other types of visuals such as consumer-generated media, interactive content, engaging videos, and as previously mentioned, augmented reality. Visual commerce is slowly but surely becoming an integral of e-commerce, as shown by the growth of the deep-learning technology behind it. This includes the image-recognition market, which is set to grow from $20.19 billion in 2018 to $81.88 billion by 2026 – marking a compound annual growth rate of 19.6 percent (MarketWatch, 2020). The usage of image recognition is expected to be the most prevalent in the North American market, which correlates with the popularity of and demand for visual content among US consumers. As it stands, approximately 75 percent of internet users in the US search for visual content before carrying out a purchase regularly. Only a handful (3 percent) do not. 4.2 CURRENT COMPETITORS Most markets have competitors. In order to compete and thrive favorably, we at Exotic vibez have identified our direct competitors, and they are other companies selling similar products. We just intend to do it better with our unique combination of skills, products, and service abilities. We have high regard for excellent customer service and hope to leverage our relationship with clients, as people will love to work with whom they have a bond and enough trust. We will also effectively market our concepts to as many clients as possible. We will strive to offer masterstroke services that will attract and keep clients. We will build and establish a dominant market presence that will be strong enough to compete favorably with future brands. Some of the competitors are:  Inked shop inkedshop.com  Stigma&style, stigmaandstyle.com  Cookies,cookiesaf.com Emerging Competitors We believe there will be an imitation of business brand and operations in the nearest future. However, we will maintain a level of operational standard and keep portraying our firm as the best in the market. We will also flow with the market trend, stay up-to-date and implement these new
  • 25. 25 | P a g e trends to keep abreast of the latest development and improve our services on all fronts in the retail fashion industry. 4.3 SWOT ANALYSIS The SWOT analysis includes the Strength and Weaknesses possessed by our company and the Opportunities and Threat the company will face as challenges as we launch our business platform. We must know these so that we can leverage on in the industry and the threats that we are likely going to be confronted with. With that, we can design, inform and map out strategies that will not only help us to survive in the industry but also to build a global brand. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Exotic vibez: Strengths  Experience and understanding of the retail industry  Exotic vibezis new to the market but has links in the industry.  Employing committed and diverse staff to work for the organisation.  USA base is ideal very good transport links  Low startup costs home-based office  Unique shopping experience with exceptional customer service  Links with local brands  More than one income stream  Staff induction to be completed within 2weeks, induction training and booklet  A few private clients  Easy access and smooth sales transactions  The large and growing consumer base Weaknesses  New to the market, take time to establish  There is no internal structure.  Lack of clients in the interim.  Recruitment of qualified staff.  No local authority contracts  Staff retention
  • 26. 26 | P a g e  Training facilities  Office facilities  Insufficient capital or funding  Growth may be slow due to the presence of competitions and substitutes (physical marketplace, etc.) in the market  Security and fraud concerns mean some people are still reluctant to use online platforms for purchases of any kind.  A limited financial base compared to what we desire  Creating company awareness and brand name recognition Opportunities  Opportunities to develop staff.  Train the trainer for internal staff, so as to train other staff.  Opportunity to recruit right staff in order to grow  The outstanding shopping experience will lead to repeat business  Opportunity to expand to new technologies and challenges across the globe.  Opportunity to implement strategies and build company strength  Opportunity to run a profitable and successful business  Avenue to promote a sustainable and green planet  An opportunity to adopt Big Data Analytics to better understand our users’ preferences.  Opportunity to add long-lasting value and impact on humanity  Strong possibility of growing our business in order to accommodate new markets and potential clients  Unique and creative designs that suit the tastes and preferences of our clients  Easy access and prompt sales transactions on our e-commerce website Threats  Low startup funding  Pay rate/ mileage: If we cannot meet up with the rates our other competitors are paying staff, we may lose our staff to them.  Mistakes made due to lack of skills  The possibility of business imitation  Low barriers to entry
  • 27. 27 | P a g e  Cost and effectiveness of marketing  New retail platforms that may or may not open in the future  The arrival of a new competitor is considered another threat to our business  Government instability; changing/unfavorable government policies  Economic downturn  New retail shops that may or may not open in the future 4.3.1 Recommendations  To communicate clearly with our clients in order to build trust.  To communicate what is expected of staff  To have monthly meetings with staff and managers  To make sure proper induction is carried out within two weeks. 5 STRATEGIES AND IMPLEMENTATION SUMMARY 5.1 COMPETITIVE STRATEGY It is easy to be different but very difficult to be better. We stand out from the crowd because we 'are' better. We do not just "go with the flow"; our philosophy is based on "active management."Exotic. Philosophy: Our company’s core business strategy is to combine exceptional and knowledgeable customer service with quality stylish merchandise. And in turn, we’ll provide and enjoyable shopping experience for our customers.Exotic vibez’s mission is to offer women of the generation a wide selection of fashionable, figure-flattering clothing. Our aim is to establish our company as a pioneer in this youth-obsessed industry and build a boutique brand name that will be synonymous with the fashion industry revolution. Customer Service: We are incredibly proud of our customer service. Our goal is to respond to every customer statement with well-researched and constructive answers. Our customers have easy access to our staff by email and telephone to answer questions about our products.
  • 28. 28 | P a g e Thus, we believe in simplicity and believe in using advanced yet straightforward strategies that lead us to success. We are a brand within, whom the existing clients approach and opt for our services. We believe in innovation and follow the same by combining effectiveness and reliability while partnering with clients. Quality Assurance: Once our products complete our store's long journey in USA., the quality assurance process continues, with each piece undergoing a secondary inspection process to identify any imperfections. The Future of our Products: Exotic vibezis always looking for ways to improve our products and services. We fancy ourselves new in the industry, so we stay on par with the latest trends and new technology to meet our clients' styling needs. Dedication: That makes us different and attracts clients of the highest caliber, and keeps them loyal to continue using our services. We will be a compact company with direct communication lines, and we will strive to keep it this way as we value personal relationships with our customers. They are the basis for excellent service and our existence. Market Research: our company’s strengths rely on first-class market research capacity, unparalleled risk management, and a fast-growing processing and logistics asset base to support the origination, transformation, and distribution of commodities. We pride ourselves on building sustainable relationships with local business partners. International Network: We carefully and strategically choose our overseas partners to match our standards of quality, public relations, customer service, and professionalism. Maintaining these quality relationships is to build and retain competencies essential to our business's success. Our Employees: We have friendly and highly experienced staff who work tirelessly to ensure that our customers’ needs are exceeded at all times. 5.2 STRATEGIC GOALS In the retail and fashion markets, a large wave of change, which could be considered a paradigm shift, is just around the corner. In order to attract business opportunities from these markets and achieve sustainable growth, it is necessary to strengthen the foundations of our brand and work structures in accordance with the expanded size of the company.
  • 29. 29 | P a g e In the expanding markets, we will aim for healthy growth so that we can provide Exotic vibez’s value that satisfies customers and allow every employee to feel rewarded as they continue to grow. Here our objectives are;  Exotic vibez start as a low-risk investment and turn into a multi-million dollar business.  We will turn Exotic vibez into a full corporation with several locations and over 100 employees between corporate and location-based employees.  Our model is built on a full-blown retail management experience, customer service, sales, and marketing strategy that will incorporate the latest marketing trends within Digital Marketing, Grassroots marketing, sales teams, and much more. Not only will we build a product, but we will bring the people to us as well.  The partnerships and business relationships that Exotic vibez will create will continue to grow this business into a monstrous corporation. 5.3 GROWTH STRATEGY In the future, we shall continue to use our matchless competitive advantage to expand Exotic vibez with a website and new stores and diversify with the re- opening of Exotic vibez fashion stores. This will allow us to have the leverage to pursue further options, such as our existing “shop in shop” concept. We believe that our business's e-commerce part will play a key role in increasing our reach and turnover. 5.4 SALES AND MARKETING STRATEGY Our customers are expected to come from different regions. That is why our sales and marketing plan will start at the construction phase by upholding the idea that if customers have a hassle-free and seamless business experience, it will increase our customer size and boost our sales. We will ensure that all our customers, to a reasonable degree, enjoy a smooth and efficient experience when patronizing us. We will also gather information to serve them better by eliciting their feedback and incorporating the same. This type of first-hand market research will prove invaluable in attracting more customers and retaining existing ones.
  • 30. 30 | P a g e Ordering from our website, we take security very seriously. Exotic vibez complies with the strongest identity authentication standard available today by utilizing an Extended Validation SSL Certificate. A unique and noticeable green address bar will display in the latest high-security browsers in the secure portion of our shopping cart. This bar immediately helps assure customers that Exotic vibez is an authenticated website. Additionally, a green security bar highlights our name and also includes a notation next to the address bar that our organization is certified. The green address bar and security bar help customers know that Exotic vibezis a legitimate Web site and that their transaction will be secure. To show our faith, we guarantee it -- there is no risk. Customers' access and use of the site is also subject to the following terms and conditions ("Terms and Conditions") and all applicable laws. By accessing and browsing the site, they accept, without limitation or qualification, the Terms and Conditions and acknowledge that any other agreements between them and Exotic vibez are superseded and have no force or effect. We will offer a 14 day return/exchange policy to build trust with our customers and maintain retention and loyality. The table below shows the marketing strategies adopted by Exotic vibez OFFLINE ONLINE  Partnership and network  Event Marketing  Word of Mouth Marketing  Print Media  Website Development  Search Engine Optimization (SEO)  Social Media Marketing  Content Marketing  Email Marketing  Blogging  Ads ACTION: Partnership and Networking TIME FRAME: This should always be. CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
  • 31. 31 | P a g e  Partnership and Networking  Spur strategic partnerships with potential customers.  Build and maintain a sustainable relationship capacity  Increase network on social media  Reach more clients and increase client base  Drawing on a wider pool of technical expertise  Creating more quality products  Achieving genuinely earned organizational reputation and greater credibility ACTION: Online Presence TIME FRAME: This should be done within the first four (4) weeks of plan execution. CHANNELS WHAT IS INVOLVED EXPECTED RESULTS  Website  Social Media Accounts  Blog  Listings and Directories  Develop an optimized company website with state- of-the-art features and thought-provoking contents  Integrate it with appealing designs, features, and contents for massive traffic  Creating and engagement on Social Media platforms – Facebook, Instagram, Twitter, YouTube, etc.  Creation of the company's blog.  Listing on online directories and listings such as Google My Business, V Connect, Finelib, etc.  Build an email list  Build a stronger brand  Increase credibility  Brand visibility  Increase communication and interaction  Increase sales leads  Increase sales revenue  Boost website traffic  Faster word of mouth
  • 32. 32 | P a g e ACTION: Content Creation TIME FRAME: This should be done at least twice a week CHANNELS WHAT IS INVOLVED EXPECTED RESULTS  Website  Social Media Accounts  Blog  Listings and Directories  Creative use of keywords that match our service offering  Regular update of contents.  Increase brand awareness  Improved brand loyalty  Higher conversion rate  Better ranking of the website.  Improved visibility through organic searches on search engines.  Increased traffic on the website  Better customer satisfaction ACTION: Email Campaigns TIME FRAME: This should begin after the first month of marketing plan execution. CHANNELS WHAT IS INVOLVED EXPECTED RESULTS  Across contact points.  Gathering database and emails of website visitors and customers.  Develop intriguing content and progress updates  Keep customers up to date with the latest happenings and promote events  Integrating social sharing buttons into emails  Better participation  Improved engagement  Boost support  Increased donations  Reinforced credibility ACTION: Google Ads; Social Media Ads; Online Reviews.
  • 33. 33 | P a g e TIME-FRAME: This should be done quarterly and be continuously reviewed. CHANNELS WHAT IS INVOLVED EXPECTED RESULTS  Google page.  Social Media Accounts.  Other Web pages, as suggested by Google.  Setting up a Google Ads account/grants  Creating Ads (Video, Image, or text).  Post Ads on platforms.  Build strong brand awareness  Increased engagement.  Improved visibility of the brand. ACTION: Print Materials; Signage. TIME FRAME: This should be done continuously and subject to review at least twice a year. CHANNELS WHAT IS INVOLVED EXPECTED RESULTS  Signage  Brochures  Flyers  Flex banner  Printing of materials with the company's name, logo, contact information, and description.  Mailing of print materials to the target audience.  Distribution and placement of materials at strategic points.  Establish business authority and credibility  Increase brand awareness  Improved brand popularity  Business visibility  Build Trust  Increased website traffic. ACTION: Word of Mouth/Referral TIME FRAME: This should be done continuously and subject to review at least quarterly in a year CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
  • 34. 34 | P a g e  Online.  Offline.  Website visitors will be requested to make referrals  Craft a compelling narrative  Increase brand awareness and reputation  Increase marketing reach  Improved brand exposure 5.5 OUR PRICING SCHEDULE There may be varying prices on items on request. We will keep the prices of our services below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance from clients. We believe that our pricing system will ascertain profitability without compromising quality and customer return. We will ensure and strive to offer our services at very comfortable and competitive prices; this will be subject to change when necessary. Also, we will offer special discounted rates to all our customers at regular intervals. In the first year of operations, we will be marketing a low price scale to grow attention to the company as affordable, and as the business grows, we will mark up. We will ensure and strive to offer our products at very comfortable and competitive prices continually. We will never compromise the quality and standard of our products, services, and business brand to ascertain affordability. We will never compromise the quality and standard of our products. Every pound spent will be accounted for through quality value and timelessness. 5.6 COMMUNICATION STRATEGY We at Exotic vibez believe firmly in the power of effective communication to bring our clients closer. One of the strategies we will adopt to keep our clients satisfied is through a seamless well-structured customer communication channel. We will make an extra effort to ensure that our clients and we are timely and efficient. We believe the effective exchange of ideas is essential for everyone associated with Exotic vibez Proper communication and comprehension reduces conflict, which in turn creates value for everyone involved. Our contact addresses will be made available for easy access, inquiries, complaints, feedback, and suggestions.
  • 35. 35 | P a g e 5.7 EXIT STRATEGY The owner of Exotic vibez has absolute confidence in the business and believes that it will be profitable and successful based on the market need for the business and the viability of the selected location. However, if the business fails, the following measures will be taken:  Re-strategize, analyze the reason for the initial failure, and preparedly venture into it again  Sell the business out to a company or individual interested in buying  Get help from family and friends to repay all outstanding debts if there is any 6 MANAGEMENT OVERVIEW 6.1 DESCRIPTION Exotic vibez is an online retail boutique based in USA but with a vision of growing the business to become a global brand with a presence in all the world's continents. To achieve this vision, we have laid the right plans to ensure that our foundation is strong but stays true to our core values and vision as a company. We will position our company for growth. At Exotic vibez, we will ensure that we hire qualified, hardworking, creative, and customer-centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders. Our entire team of workers will identify with our vision and be trained to know what it takes to create a link for our company to rise from where we are at present to where we intend to be in the future. We will ensure that our team of staff gain the expertise required to work in this industry and bring it to a standard envied by our competitors. 6.2 MANAGEMENT STRUCTURE As a small business, we will have a small staff. The leadership roles within the company and will be responsible for daily operations, overseeing marketing efforts, buying merchandise and managing inventory and all other administrative duties. A small sales staff will assist ownerswith securing sales, assisting customers and general maintenance of stock on the floor. The CEO;
  • 36. 36 | P a g e Amanda parker already has everything to start a retail clothing business. The business sees to offer expertise in best in the United states market. Adequate online marketing strategies will be put in place to ensure that a large population of our target market is informed about our presence in the market. We’re poised to be successful and project adequate revenue for profitability and the sustainability of the business. 6.3 METRICS AND MILESTONES Table: Milestones Checklist Progress Business Name Availability Check Completed Business Registration Completed Development of E-commerce platform In Progress Opening of Corporate Bank Accounts: In Progress Opening Mobile Money Accounts In Progress Application and Obtaining Tax Payer’s I.D. In Progress Application for business license and permit In Progress Purchase of Insurance for the Business In Progress Renting of our Business flagship facility In Progress Conducting Feasibility Studies In Progress Writing of Business Plan Completed Drafting of Employee’s Handbook In Progress Drafting of Contract Documents and other relevant Legal Documents In Progress Design of The Company’s Logo In Progress
  • 37. 37 | P a g e Graphic Designs and Printing of Packaging Marketing / Promotional Materials In Progress Recruitment of employees In Progress Purchase of the Needed furniture, electronic appliances et al In Progress Creating an Official Website for the Company In Progress Creating awareness for the business both online and offline In Progress Opening / launching party In Progress