It was nice to see that many of you have posted blogs on vgsomnews. I would like to see all of you post something by noon on Sunday so that I can review your posts and publish them by Monday. You will be required to post at least one blog by noon every Sunday till the end of the semester.
Tantipudi Abhilash, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur
Latest advertisement of online biggies that has hit television, print & social media also indicate that portals are investing specifically on apparel sales driven strategies.
The latest Amazon TVC features a woman who done multiple looks, right from smart office wear to elegant wedding attire, from casual dungarees to cute shorts. This ad aims at embedding ‘Amazon Fashion’ in every viewer’s find. And fortunately it is effective just like Amazon’s Kindle TVC. The move to standout as an online fashion destination does comes across as a surprise in a good way since Amazon sells everything under the sun.
Close to the heels is Snapdeal who also has been pushing apparel and other fashion products in their promotional activities and advertisements.
While many people know that Alibaba is an online retailer, the business model of the company is less well understood and surprisingly different from the Amazon.com, Inc. (AMZN). Three major web portals make up the core of Alibaba’s businessː Alibaba, Taobao, and Tmall. All three of these e-commerce websites serve to connect various types of buyers and sellers, wherein Alibaba acts as a middleman.
From the above examples, Positioning in the market is important to get recognised easily. This is exactly what different portals jabong, Myntra etc. do for their products. Other points are that being a market place would be of great help and catering the needs of ethnic wear consumers from diverse region vendors. It helps to reduce our investment as well as help to reach our name into different region.
The majority of the market share in ethnics business, unlike casual apparel wear is from the local manufacturers and vendors. So being a market place would be more helpful to tap this third man market. It would also result in the low cost inventory model.
There are few challenges in this concept of being a market place. The first challenge has often been linked to the need to make sure these folks are serious and selling items that you want in your marketplace.The second challenge was often an issue of ease of use. You have to provide them a list of settings/options that could make their product look better. And the third challenge is you needed a way to track sales, determine commissions, and automatically pay them out.