ThinkTank
Competition
Team Dash
DRAFT
//RECOMMENDATION
//1 OF 4
Team Name: Dash
Situation
Large global apparel retailer dealing primarily
in fast and premium fashion categories
Retailer operates on an omni-channel model,
having Brick-n-Mortar stores at major
shopping centres and also a User friendly
App.
Customers - Majorly attracts Young adults
(18 -25) but has product offering for anyone
above the age of 5.
Complication
Recommendation
Retailer is struggling to market itself as a
One-Stop solution for all age groups leading
to revenue loss, market share loss, lower
SKU utilization & high inventory turnover.
Imagine adding a feature to the Exisitng App
using DALL-E and showing a customer being
able to see how they would look in different
fashion trend and allow them to shop that at
the right price based on their prompts and
demographic info?
What Company Needs - Educate its
Consumers that its more than “just a fashion
store for young adults” and start showing
people that it has the Right Product for
everyone.
What Consumer Needs - Consumer needs
choices, ease of shopping, and a way to
visualize how something will look on them on
a specific occasion
Would unlock scenarios where a consumer
could enter prompts such as:
●
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I am starting my MBA program in
New York this fall, what trendy
dresses would look good on me
under the budget of $50? - (29,M)
Headed to the beach for 3 days
vacation, suggest me trendy outfits?
(35, F)
Buying clothes for my nieces bday,
suggest under $20? (9,F)
//RECOMMENDATION
//2 OF 4
Team Name: Dash
Business impact
Customer/community impact
How will this impact the business?
How will this impact the customer or community?
Risks:
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Customers privacy concerns (image upload, biodata, etc.)
Customer fatigue with DALL E platform
Time and cost to market the tool
Integration challenges with current systems and its effect on existing
consumer base
Benefits
●
Increase in customer engagement, satisfaction and products
awareness
●
Increase in revenue and market share l
●
Increased access to other products creating more awareness
●
Cross-selling opportunities
●
Consumer retention, brand loyalty, and trust as one-stop-shop for their
apparel needs
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Using images will give a look and feel on how the product looks on the
consumer leading to informed/better decisions and higher customer
satisfaction
Increased awareness would lead to greater acceptance to new trends
Community building - Interactive campaigns and marketing of the the
untapped segment leads to better community engagement , where
users can also share ideas, provide feedback, and collaborate instilling
a sense of community and engagement
More control over shopping experience through product/price
comparison, leading to increased trust and consumer
satisfaction/empowerment
Innovating a game-changing technology in the fast-fashion retail
segment giving single-brand private retailers competitive advantage
//NEXT STEPS
//3 OF 4
Team Name: Dash
Based on the idea you outlined on the previous slide, what would be the most important next steps to
prove this out as a viable and disruptive solution? What analysis or data would you need if you were
going to build this solution?
/ Detail out your next steps and why. It is important to not only identify the next step but also clearly lay out how this would
help.
Data or analysis you would need
Why this would help
Additional notes
Next step #1
Consumer search and impressions data in-app and
demographic information on store walk-ins.
Use this data from Push Notifications and other
marketing campaigns
Provides an idea of the extent of the
challenge and the size of market which
is ripe to be captured
Is the solution even worth it?
Next step #2
Competitor data analysis and data from multi-brand
retailers which have a wider consumer base and the
demographic focus of immediate competitors
The data would provide better
understanding of consumer preference
and the potential consumer base and
also whether we would have a spike due
to first-mover advantage
Would the solution help generate buzz?
Next step #3
Current Tech Capabilities of the App and resource
allocation on my stores
Decide whether an increase would be
needed to accommodate the increase in
consumer demand and footfall
Can I handle the surge?
Next step #4
Existing ability (cost and quantity) to manufacture
the other lines the retailer is trying to promote
Help decide whether the surge can be
accommodated by manufacturing units
and if they would strain the inventory
turnover cost.
Can the increased Demand be met with
the existing supply?
Next step #5
Feedback loop data via consumer response on an
NPS scale
Ensure long-term viability and address
teething issues within the program while
also addressing concerns of the
consumers
Is the solution a long-term industry
game-changer?
Dash: Product Mockup
DASH
DASH
DASH
Gender
Male
Thanks for your
response.
Female
Others
What are you looking
for ?
Headed to the beach
for 3 days vacation,
suggest me trendy
outfits?
Your Age?
35
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Output based on trained models and uploaded pic