A Proposal for New Product Development Idea
The advancements in the use of e-commerce to the developments of personalized mobile shopping apps have resulted in a significant transformation and disruption in the retail markets. Most of the thriving brands are seeking to address the various challenges that arise with these developments to meet the changing needs of consumers, renovate their brands and attempt to remain profitable and relevant. Consumers in different markets today want convenience and value. These two primary preferences have changed the way retailers market, engage and sell to the consumers. However, in the apparel industry, changing consumer preferences have not adequately been met. With this gap, I propose enhanced subscription-based services in the apparel and accessories industry.
The increased subscription-based services will ensure that the apparel and accessories get curated for the individual consumer, depended on personal choices. The practice will seek to save the consumers time and effort since the shopping will get done on their behalf with the proposal (Ramkumar & Woo, 2018). Even though few organizations are striving to implement this trend, such as Stich Fix, they have not capitalized on it. However, with this proposal, the business will appeal to numerous busy customers since the organization will offer the products desired by the customers while also acting as a personal stylist, all in one convenient service at a bundled price. The practice will seek to enhance the convenience and value to the customers in the apparel industry and address the changing preferences for the consumers. Also, the proposal will help an organization go ahead of others in the fashion and retail industry that is characterized by new continued new developments. The appeal to the customers will be integral, coupled with the convenience and value that the practice will add to them.
References
Ramkumar, B., & Woo, H. (2018). Modeling consumers’ intention to use fashion and beauty subscription-based online services (SOS). Fashion and Textiles, 5(1), 22.