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Bldg45 Boutique. Melissa Ramos, Stephanie Sam, Nga Pham, Juei Hsai FINAL PRESENTATION. Overall Objective.
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Bldg45 Boutique Melissa Ramos, Stephanie Sam, Nga Pham, JueiHsai FINAL PRESENTATION
Overall Objective Our mission for this spring quarter is to offer affordable fashion and continuous variety. In order to do so we will work closely with our AMM 299 workers in order to make sure this operation runs smoothly and efficiently as well as working with our Warehouse and Sourcing team in order to get the best prices possible for our customers and ensure product is readily available.
Statement of Problem • The only students that really purchase from our boutique are AMM students • Some of our apparel items were too costly • The store is currently carrying a lot of old merchandise thathas been marked down andnot sold
Proposed Activities to Improve Business • Create flyers that can be handed out at the Pop-Up Store’s events to increase awareness of our store on main campus. Also, creating flyers/posters with a map of where to find the store on it. • To reduce cost of product the buyer and manager will research new vendors to buy from that still offer fashion forward apparel but are priced much lower. • To clear out old merchandise two blow-out sales will be hosted in order to increase revenue and make room for new product.
Key Activities That Were Planned • Create a cohesive marketing campaign • Create a “trend board”. Here would be information on new trends and advertisement for new products • Re-design our visual merchandising • Host a blow-out sale • Enter PO’s for new excting merchandise
Results of Week-by-Week Objectives: Weeks 1-6 Results of Our Efforts What Have We Done So far, we have been able to complete all of our proposed objectives for each week Throughout these weeks we were able to launch our marketing campaign, revamp our merchandising in store, order new product, host a blow-out sale, create a trend board, schedule workers, and continuously keep inventory and analyze sales weekly • We were able to create a inventory template and work schedule for the AMM 299 students • We created more awareness of our blow-out sales and boutique through our marketing campaign • Sales were increased by introducing new merchandise
Results of Week-by-Week Objectives: Weeks 7-10 Results of Our Efforts What Have We Done We designed a grad shirt and advertised it. The boutique’s visual merchandise was re-done each week to create a feel of newness. • We re-designed our trend board to make it look fresh and create excitement for the store • Orders were submitted for grad sashes. • During week 8 we made sales of $242.35.
What Changed From Our Proposal To The Actual “Doing” Weeks 1-6: • Blow out sale flyers did not go out on time due to delay of communication • Blow out sale was done a week late and we held a second blow-out sale • Po’s were inputted a week early which helped us in creating more excitement for the store Weeks 7-10: • We added new task such as designing and advertising for a grad shirt. • Also, we collaborated with AMM 471 to sell grad sashes in the Bldg45 Boutique • We also submitted more PO’s for new merchandise but unfortunately were unable to go through with them due to budget cuts.
Weeks 7-10 Successes We Hadn’t Planned For: Obstacles That We Didn’t Forsee: Workers calling out and difficulty in finding a replacement, even when the worker gave sufficient notice No one placing orders for the grad tanks Minimal amounts of people placing orders for the grad sashes Not being able to create one last special sale • Designing our grad shirts • Receiving new AMM sweatshirts
Sales Analysis • Nga Must input more info here
Sales Report Proposed Sales Goal Actual Sales $1,343.56 Only 32% of the sale goal was met. Average Mark up 25-50% • 10% increase from last spring • Original: $4264.535
Book Inventory & Actual Inventory • For 1st an item was sold with a incorrect price ticket. • For 2nd Week, there was an error in recording taxes. • For 3rd & 4th Week, there were few items theft by customer and/or employees. • For 5th Week, there might be errors in recording sales. • For 8th & 9th Week, there was an error in recording taxes. • For 10th Week, there is an error in recording transfers out.
Sales & Actual Inventory • As of June 5, 2012, we have total of 233 items and $1,742.40 worth of merchandise. • We take inventory weekly and compared with the purchase log.
Recommendations for Next Quarter • Better communication early on and understanding of each job role. • Monitor volunteers as much as possible and stress to them the importance of taking their volunteer time seriously. • Be prepared to change the schedule at any times. • Do NOT wait last minute to do any tasks.
Recommendations for Next Quarter • When planning an event plan at least 2 weeks ahead of time. • Set dates for your events in the 1st week of the quarter. • Special events could be blow-out sales, coupon days, grand-opening day. • Possible product for the future could be nail art. • If creating a new product for the store (tee’s, tanks, sweater, etc.) be sure to create the flat & design with complete specs by the 2nd or 3rd week. • If possible, don’t choose this venue unless you are able to be on campus a few days a week and are able to take time from your job to be at events in order to make sure it runs smoothly.
