Faet’d Fashion ; A Eco-Friendly Brand
Faet’d Fashion is a new and innovative eco-friendly fashion line that aims to reduce clothing waste and promote sustainable fashion. The brand recognizes the negative impact that fast fashion has on the environment, and aims to tackle this issue by utilizing donated clothing and upcycling them into newer, more fashionable pieces. This process not only reduces clothing waste, but also provides affordable and unique clothing options to customers who are looking for something that is both fashionable and ethical.
2. Who you did the project for: The CUNY Clash project is a competition created by the City University of New York (CUNY) that challenges students to pitch and sell a brand they would like to create. The competition is open to all CUNY students and offers a grand prize of $10,000 to the winning pitch. Participants are required to submit a written proposal and a video pitch that outlines their brand concept, target market, and marketing strategy. Finalists are selected based on the creativity, feasibility, and market potential of their ideas. The competition culminates in a live pitch event where finalists present their ideas to a panel of judges composed of business leaders, entrepreneurs, and CUNY faculty. The CUNY Clash project provides a unique opportunity for students to develop their entrepreneurial skills, gain exposure to potential investors, and win funding to bring their business ideas to life.
3. Year started / Year ended: 2020- This project remains to be an ongoing project
The effects of Digital Marketing for strip malls in Downtown Brooklyn
Introduction
This research report aims to provide valuable insights and recommendations to chain stores in downtown Brooklyn on how they can effectively leverage digital marketing strategies to enhance their competitiveness and ensure their growth in a post-pandemic economy. The COVID-19 pandemic has had a profound impact on the retail industry, leading to changes in consumer behavior and shopping patterns. In response, chain stores need to adapt and implement digital marketing strategies to engage and connect with their customers in the new normal.
To conduct this research, I reviewed and analyzed a range of relevant sources, including academic databases, industry publications, and government websites. We also conducted in person data collection by surveying 20-25 customers over a range of time as well as observed retail managers to gain a deeper understanding of what drives a successful retail business up on a chainstore block. By utilizing both primary and secondary data sources, we have gathered comprehensive and diverse insights that can inform chain stores’ digital marketing strategies.
Study Methodology
My research revealed that chain stores must adopt a digital-first approach and establish a strong online presence to meet the evolving needs and expectations of customers. According to the Digital Marketing Institute, Americans spend more than 12 hours each day interacting with media devices, including television, radio, internet, desktop and laptop computers, and connected devices. This portrays the importance of developing a strong online presence through digital marketing strategies for chain stores in downtown Brooklyn.Therefore, businesses that fail to provide easy and convenient online shopping options may risk losing out on potential customers.
My research also suggests that it’s crucial for chain stores to identify and prioritize cost-effective marketing strategies that have proven to be successful in the past. In particular, businesses should focus on metrics such as cost per conversion, spend rate, audience and targeting, and engagement to measure the effectiveness of their digital marketing efforts. In terms of my own data collection I’ve created 6 survey questions to understand how these randomly hand picked customers think alike and what they gravitate more towards. Additionally, our observations of successful chain stores have shown that creating an exceptional customer experience through personalized and attentive customer service can help businesses build brand loyalty and increase customer retention. By leveraging digital marketing strategies to enhance the customer experience, chain stores can differentiate themselves from their competitors and drive sustainable growth in a post pandemic environment.
Step by step Analysis
Q1 – What is your age range
After conducting my surveys and observations my own data collection through 23 surveys suggests that a considerable proportion of shoppers aged between 13-25 participate in social media during the times of 2-3 pm, making it a suitable platform to focus marketing efforts. Although this first question seems a bit direct it allowed me to understand what age range retail stores should focus their marketing to.
Q2- How often do you shop online
After realizing my directed age range, I’d like to focus on how often these customers shop online. This shows us whether or not having an online presence is important or not. About 82% of respondents in my survey indicated that they engage in online shopping quite frequently. This signifies that more than half of the respondents prefer online shopping. In cases where businesses do not provide a seamless online purchasing experience, it could deter customers who prefer to shop without any hassle, either by walking in or opting for online shopping.
Q3- How often do you shop online after viewing online advertisement
The importance of online advertising cannot be overstated as it plays a significant role in attracting potential customers. During the survey, the initial results showed that the majority of respondents were moderate online shoppers. Although these advertisements may not necessarily increase online orders or pick-up in stores, they do inform customers of stores they may not have otherwise considered. This ultimately leads to better conversion rates, as customers are more likely to explore other products offered by the store once they have viewed a few online.
Q4- Which of the following online marketing channels do you find most effective in discovering different retail stores?
When considering which online marketing strategy to implement, the customers I surveyed indicated a preference for social media advertising. As I previously mentioned, on average, respondents spent around 12 hours per week on various social media platforms, and 82% of them agreed that social media advertising had the most significant impact on their purchasing decisions. However, it’s important to note that age could influence this preference, as the survey participants primarily consisted of teenagers and young adults who had recently finished school. Older age groups may have a different opinion regarding the most effective platform. Nevertheless, for businesses in the downtown Brooklyn area, social media marketing appears to be the most promising strategy.
Q5- Which store do you frequently shop at ?
After analyzing the stores, we found that only a few stores, around 2-3, have a diverse range of online advertisements and are widely recognized. Moreover, the three most frequently visited stores had the highest rankings in the survey. This chart clearly demonstrates the significance of online marketing as well, as we often come across advertisements for Macy’s or Marshalls on various digital platforms, including Instagram and YouTube. However, we rarely see advertisements for Express or Rainbow stores
Q6- What type of digital content do you find most engaging or informative?
In order to effectively market to consumers, it is important to have a strong digital content strategy that allows for a better understanding of what customers are looking for. Customer reviews are highly valued, with 47% of people placing trust in them for both online shopping and marketing. Hearing about a product’s benefits from other customers is often more convincing than hearing from the creator themselves. In addition, many people (26%) prefer to see content related to in-store or online promotions as they are looking to save money and avoid paying full price for items. Providing a percentage off of the full-priced item is often more appealing. Lastly, having clear product images is crucial for online marketing as customers want to see the product for themselves before making a purchase. If they like what they see in the images, they are more likely to visit the store in person.
Analysis
Based on the information provided, it appears that online marketing is crucial for chain stores to remain competitive, especially in the post-pandemic economy where consumers have shifted towards online shopping. Online advertisements play a significant role in drawing in customers, but the effectiveness of these ads may vary depending on the store and its online presence. While major companies like Macy’s and Marshalls have a wide array of online advertisements and are well-known, smaller stores like Express and Rainbow may not have the same level of visibility.
The study also shows that social media marketing is the most effective strategy for online marketing, with the majority of customers relying on social media ads to inform their purchasing decisions. However, it’s important to note that this preference may vary depending on the age range of customers surveyed, with younger audiences being more responsive to social media marketing. Additionally, customers are more likely to convert when they view images of products online, particularly for clothing stores. This suggests that having a strong online presence with visually appealing content can help drive foot traffic to physical stores.
Overall, it’s clear that chain stores in downtown Brooklyn must leverage digital marketing strategies to remain competitive in the post-pandemic economy. This includes investing in social media marketing and creating visually appealing online content that showcases their products. By doing so, they can attract customers both online and in-store, and sustain their growth and success in a rapidly changing retail environment.
Discussion
The project results indicate that certain retail stores are achieving more success than others, with Old Navy being an example of a store that excels in areas such as cost per conversion, spend rate, audience and targeting metrics, and engagement. For other stores that may not be performing as well, changes may need to be made in order to remain competitive and prevent closures. This is important not only for the businesses themselves, but also for the surrounding community. By keeping retail stores open and thriving, jobs are created and people are able to maintain their livelihoods, which in turn helps prevent homelessness and other negative impacts on the community.
Through this research project, the researcher gained a better understanding of the challenges facing the retail industry and the reasons why certain stores may struggle to succeed. This knowledge can help inform strategies and initiatives aimed at supporting small businesses and promoting economic growth in the community. By identifying areas where stores may need to improve, such as through more effective use of digital marketing strategies, efforts can be made to help these businesses remain competitive and thrive in a post-pandemic economy. Ultimately, supporting local retail stores can have far-reaching benefits for the community as a whole, from job creation to the prevention of homelessness and other social issues.
References:
Forbes article: McNeely, M. (2022, September 7). How To Leverage Measured Digital Marketing In An Economic Downturn. Forbes Communications Council.https://www.forbes.com/sites/forbescommunicationscouncil/2022/09/07/how-to-leverage-measured-digital-marketing-in-an-economic-downturn/?sh=4f6120421515
Digital Marketing Institute article: Digital Marketing Institute. (n.d.). Brand Awareness: Why a Digital-First Approach is Essential. Retrieved March 28, 2023, from https://digitalmarketinginstitute.com/blog/brand-awareness-why-a-digital-first-approach-is-essential
