Market Research Analysis

Shikari MartinBeautiful Young LadyNovember 16, 20116th periodMrs. Davis

Table of Contents

Purpose Questions Graph #1 Graph #2 Graph #3 Graph #4 Graph #5 Graph #6

Graph #7 Graph #8 Conclusion Customer Profile

Purpose

The purpose of this analysis is to figure out what consumers want and are buying out of clothing stores. It also is to help me figure out how much to charge for the products that I will be selling.

Questions

How many times do you go shopping for clothes and/or shoes in a year?

Where do you like to shop? What items do you shop for the most? What type of clothes do you like? How far are you willing to travel for your favorite

store? Do you like to shop? Would you go to a store for free Wi-Fi (internet

connection) if it were offered? How much are you willing to pay for an outfit?

Graph #1 Highest Result: 5+ Lowest Result: 1 The advantage of people

shopping five or more times a year is that they will be out looking for what I am selling more than once a year.

There is no disadvantage of the lowest result.

The benefit of knowing this information is now that I know people are out shopping more, I can come up with discount deals to reduce competition.

I could offer customers discounts and have sales often so they will come to my store when they are out shopping.

11%

11%

8%

69%

How many times do you go shopping for clothes and/or shoes in a year?

1 2 3 4 5+

Graph #2 Highest Result: Mall Lowest Result: Boutique The advantage of people shopping at

the mall the most is that since people are looking for clothes at the mall the most, I know where to advertise for my boutique.

The disadvantage of people not shopping at boutiques is that starting my own boutique may not be such a great idea.

This information benefits me because maybe now I will rethink starting a boutique.

This graph shows me that not many people are shopping at boutiques. It also shows me that buying a store in the mall is probably a better idea than building a boutique on its own.

I can meet customers needs by instead of just placing the boutique on its own, I can put it in a mall or outlet.

48%

26%

6%

20%

Where do you like to shop?

Mall Outlet Boutique Other

Graph #3 Highest Result: Clothes Lowest Result: Accessories & Other The advantage of people buying clothes

the most is that clothes is what my boutique will have the most of.

The disadvantage of people not buying accessories and other items the most is that I may not make much of a profit off of those items.

This information benefits me because now I will not put so much money into accessories and other products besides clothes and shoes.

This graph shows that many people are buying more clothes and shoes than anything. It also shows that accessories and other items are not as important having clothes and shoes in a store.

A strategy that I can use to get accessories and other items sold is maybe make them half off for every $20 spent.

50%

28%

11%

11%

What type of items do you shop for the most?

Clothes Shoes Accessories Other

Graph #4 Highest Result: Mixture/Everything Lowest Result: Sports The advantage of people wearing a

variety of different styles of clothes is that I do not have to focus on having just one style in my store.

The disadvantage of people not buying much sportswear is that I may not make much of a profit off of sportswear.

This information benefits me because if I am selling a mixture instead of one style, that is what people are buying the most of.

I can meet customers needs by providing every style of clothes possible.

24%

8%

12%

44%

12%

What type of clothes do you like?

Casual SportsVintage Mixture/EverythingOther

Graph #5 Highest Result: 30 Minute Drive Lowest Result: 60 Minute/Hour

Drive The advantage of people driving 30

minutes for their favorite store is that they are willing to drive farther than just right down the street for something that they want

The disadvantage of people that refuse to drive 60 minutes is if my store is that far away, they will not visit it

This information benefits me because now I know how far most people are willing to drive for a product

I can meet my customers needs by not putting my business far out in the middle of nowhere

14%

47%

19%

21%

How far are you willing to drive for your fa-

vorite store?

15 Minute Drive 30 Minute Drive60 Minute/Hour Drive 2 Hour Drive+

Graph #6 Highest Result: Yes Lowest Result: No The advantage of many people

liking to shop is more customers will be out looking for clothes

The disadvantage of some people not liking to shop is that’s less money coming into my store

This information benefits me because if I’m selling clothes and many people like to shop, I will more than likely make more money

For customers that shop at my store often, I can have a day each month where they come and shop and everything they buy will be 25% off

72%

28%

Do you like to shop?

Yes No

Graph #7 Highest Result: Yes Lowest Result: No The advantage of people

coming in my store for the Wi-Fi is more exposure for the products I am selling

The benefit of people willing to go to a store for free Wi-Fi is that they might come to my store for Wi-Fi and maybe look at and purchase some of the products

I could also offer customers Wi-Fi that they can use at home for $5 a month

68%

32%

Would you go to a store for free Wi-Fi (internet

connection) if it were of-fered?

Yes No

Graph #8

Highest Result: $100+ Lowest Result: $40 The advantage of people

willing to pay $100+ for an outfit is I can charge them more

This information benefits me because now I know that I can charge more and make a larger profit

I could offer customers that spend over $100 in one visit half off deals

15%

10%

24%

17%

34%

How much are you will-ing to pay for an outfit?

$20 $40 $60 $80 $100+

Conclusion

Doing the market research analysis was a great idea. It was very helpful in finding out about the clothing industry and the consumers of the industry. It helped me realize that starting up a boutique on its own is probably not the best idea and I probably should purchase a store in a mall or outlet and see how it goes from there.

Customer Profile

Shops 5 or more times a year for clothes and/or shoes

Likes to shop at the mall

Shops for clothes the most

Does not have a certain style. Wears a mixture/everything

Will drive half an hour at the most to get to

their favorite store Likes to shop Will go to a store for

free Wi-Fi Will pay $100 or more

for an outfit