Originally Posted by fireemblemcraze:
“I feel that Shadi's idea is original and different. I like that fact that it's similar to that 70s show in that I enjoy vintage themes and seeing things from a different time period. It is definitely interesting and I like the products offered such as some of the music and films which are some of my parent's favorites like Pulpfiction and Shania Twain. I feel his product selection, and overall concept are great.
But I feel that the biggest weakness is that the idea does not seem realistic. I do not see a substantial market for this kind of idea, while 16-24 is alright, most of those people would actually have been children/babies during the 90s and would not be as familiar with pop-culture and music from the 90s as slightly older 25-35 demographics would who would remember the time better, so I feel he should have focused on older demographics more. To be honest I think the store is slightly niche even for this demographic. Also with the kinds of products he will have - such as music and films which do involve the store itself purchasing distribution rights which are huge costs and the rental costs which I do not think he has considered (the whole reason we avoided London was not because it was too safe or obvious but the exact opposite because of huge rental costs especially in Westfield mall), he needs a large demographic to come to his store to cover his costs. He has also got costs from all the interior design things he has such as pastel paintings and posters of artists (which again would not be infringing on promotional/advertising rights for these artists?). I also feel Shadi also has no methods in place to ensure repeat business and few promotional activities such as taking advantage of the radio, online/social media promo, magazines and Youtube artists (who would actually be pitching to his demographic), while my pitch was very much focused on the aforementioned promotional ideas as well as ideas of getting clients back in with various deals, loyalty cards, cosmetics/smoothies of the week, staff scenarios, quality assurance assessments, shorter queuing times, building an extensive database etc. Also are the clothes not a bit arbitrarily put in - I do not see the link with the theme?
Also this is more of a minor point but would selling films and music not be obsolete in this day and age when it's all online - on Netflix, iTunes, Spotify. Have HMV, Blockbuster not gone bust in many cities because people have gone online?”
I will address each one of your issues.
1) I was born in the 1993, Arran, George, and Steven, also were born around that time, so were my friends, and we all vividly remember the cultural aspects of the 90s because these aspects live on for longer than when they were released. There's a reason why people prefer their childhood years, these are the years of no major worries and burdens, so people tend to view them pleasantly, and all the things associated with them will be viewed in positive light. This is exactly why it was the smartest choice to target the younger generation, and also because they are the ones who are most willing to spend money on the products we're offering.
2) I already tackled the distribution issue when asked about it. Here's how it works, we buy from a distributor who has already bought the distributing rights, and we buy in the quantities we want. We don't make copies as that would, in fact, be illegal. So, once we buy those products, we will be able to sell them because they become our own property. This is how small DVD stores and Music stores open. You don't seriously expect them to call the record label, do you?
AND I HAVE ON THING TO NOTE WHICH I FORGOT TO ADD IN THE CRITICISMS: You talked about low cost, but, whereas we're being already manufactured goods, so we're barely retailers, you are actually creating your own products, but I don't think you talked in detail about who is manufacturing your products, and how? And at what cost? Because it is pretty expensive and I don't think any start up companies jump straight into manufacturing their own products. I mean, Zara did it after decades in the business.
3) We already talked in detail about our marketing strategy if you had read through our pitch. We talked about utilizing the social media, the University of Manchester, the radio, fliers, as well as newspaper articles, and finally, we discussed loyalty cards to loyal customers. Maybe you skipped them though, while reading.
4) Yes the clothes were a sample of what we're selling, just as I posted a sample of our movies and music and books and TV shows. We were showing you a taste of what we're offering.
5) The majority of the younger demographic don't really own credit and debit cards and if they do, they probably use it more cautiously than to spend it on iTunes and such, which is why the DVD and Music brick and mortar businesses are still running strong. Unless you're recommending piracy?