System design:
System design will describe all the main components of the system and their relationship to
one another. It is an essential part of the online business development process because it
sets the foundation for the entire project. As we designed an online clothing thrift store our
first concern will be system design.” Thrift Mart “display gently used clothing items at
discounted prices. Thrift Mart will be an online version of a physical thrift store. The plan of
the web based online store is to Increase the chance of middle-class and low-income people
to have high-quality clothes at affordable price.
The web store will have two main sections, the first section will focus on selling and
buying used or reconditioned items provided by customers. This will be the phase one. The
second section will be for selling and buying new items belong to seasonal clothing or old
seasons stock that have not sold by retailers, fashion brand or new item provide by small
business with disconnected price. The offered new items will have high quality with low
prices. The second section will be the extended part of our online store which is phase two.
Initially Thrift Mart is not really focusing on that part right now. Primarily the online store is
focused on phase one where it's buying and selling used clothing
MAIN OBJECT:
In the online based clothing business most, important thing is to target specific market
need. Thrift Mart will have targeted audience like,
Lower - middle class
Middle class
Fast fashion influenced Gen z
University students
The targeted audience need to wear fashion brands with low prices. On the other
hand, clothing brands in Bangladesh want to sell their unsold old seasonal stock at the best
prices possible. In addition, a lot of individuals want to keep with fast forward fashion trend.
But it is extremely different for our country where most of the population must live on strict
budget. So, when there is a visible growing market need among audience the business
project can built a good amount of profit margin from it. Most important thing by
establishing thrift store we reduce textile waste. Thrift Mart is a web based online thrift
store set up to decrease the level of environmental crisis caused by textile waste.
Revenue model:
A revenue model is a plan for earning revenue from a business or project. It explains
different mechanisms of revenue generation and its sources. By defining revenue model of
our project, we can determine how "thrift mart" revenue model strategy should look like.
the revenue model for an online thrift clothing store can be design or constant in various
way.
Thrift mart is an online based clothing thrift store. Basically, this web-based business fall
under Web catalogue revenue model. This model uses digital catalogue and shopping cart
providing access. Thrift mart is also displaying individual product list with the price tag just
like catalogue-based model. Since It's a Facebook page customer have to inbox to purchase
rather than add to the cart.
On the other hand, thrift mart also incorporating order revenue model such as Sales
revenue model and Commission model. In sales Revenue The primary source of revenue of
thrift mart obtains through sales. We can generate revenue by selling pre-owned clothing
items at a marked-up price. At first, we must specify the selling price based on factors such
as the original price, condition, brand, and demand for the item. In additional thrift mart will
also use commission Model. Try partner with individuals or consignment stores to expand
product line and inventory through Facebook posts by creating "#collection " post. In this
case, thrift mart can act as a platform that connects sellers with buyers. Individuals can earn
a percentage of commission on each successful sale facilitated through the fb platform. The
commission percentage will vary based on the items.
Success of the revenue model will depend on factors such as the target market,
competition, pricing strategy, marketing efforts, and the overall customer experience thrift
mart will provide. Time to time the revenue model need to modify based on course
feedback and market trades.
Consumer conversion:
Conversion means the number of visitors come to a web page who make a purchase from
the online store in a specified period. In other word try to convert first time web page visitor
into end costumer. It’s an important part to focus on. Consumer conversion will focus on
various aspects of thrift mart including website optimization, marketing strategy and
customer experience. Thrift mart will construct and implement some consumer conversion
strategy as well to boost up customer purchase rate. Here are some steps that thrift mart
can take to improve consumer conversion.
Ensure to have well navigated, visually appealing and user-friendly web page.
Upload high quality image of the thrift items from different angles. There should be
product description and measurements. Which will attract and encourage to
purchase.
Include positive feedback can encourage buyers to make a purchase. Consider
implementing a review system. Create Facebook post to feature positive reviews
Display clear and competitive prices for your thrift items. Highlight any discounts or
promotions to attract potential buyers.
Promote bundle deals or free shipping for larger orders to incentivize customers.
Influencer Partnerships or collaborate with influencers and bloggers in the fashion
community. They can promote the web page to their followers, increasing brand
exposure and driving potential customers.
Monitoring and analysis of thrift mart web page analytics, conversion rates, and customer
feedback are essential to understand what works best for the online thrift store can increase
consumer conversion and drive more sales for your business.
Define project goals and
objectives
Evaluate good
conditioned
items
