1 / 9

Building a Brand: CSN t o Wayfair

By Kristina Erickson and Sam Porter. Building a Brand: CSN t o Wayfair. Niche for the Masses. CSN stores founded in 2002 by Conine and Shah Hundreds of online sites selling home goods Focused on small websites with specific names (Allswivelbarstools.com) (Hotplates.com)

nora
Télécharger la présentation

Building a Brand: CSN t o Wayfair

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. By Kristina Erickson and Sam Porter Building a Brand: CSN to Wayfair

  2. Niche for the Masses • CSN stores founded in 2002 by Conine and Shah • Hundreds of online sites selling home goods • Focused on small websites with specific names (Allswivelbarstools.com) (Hotplates.com) • Relied on search engine optimization • Profitable business during the dot com crash.

  3. Growth in bad times • Revenue in 2002: $450,000 • Revenue in 2006: over $100,000,000 • Revenue in 2010: $380,000,000 • Revenue in 2011: $500,000,000

  4. New Strategy • Huge opportunity in home-goods market • Home-goods market more than$500 billion, only 6% online • Led to the creation of a brand • Combined CSN micro sites into Wayfair • Focus on lifetime customers not just users

  5. Wayfair • Largest online-only retailer • 4.5 million items in twenty five categories • Not a stumble upon site but a lifestyle • Hundreds of selection of items and no inventory • Many suppliers

  6. Transition to Wayfair • 700 CSN employees went on pub crawl to spread news of new site • CSN stores had no brand to damage • Big risk to create customer loyalty. • 70% of customers of CSN stores were not aware of other niche stores • Led to creation of one umbrella store

  7. Building a Brand • Considered creating a brand under CSN stores • Hired help to create a brand and a new name • New employees to change from transaction focused to interaction with customers • Blogs to discuss parenting, interior design, etc. • Began raising outside capital to build brand • http://www.wayfair.com/

  8. QUESTIONS?? -Do you think it was a good idea to combine the 200 sites? -Do you think the risks involved with this change are worth the benefits?

  9. References http://www.inc.com/magazine/201204/kasey-wehrum/the-road-to-1-billion-growth-special-report.html

More Related