Social Class:
Over Low
Education: Over
Middle School
Want save money.
Be fashionable .
Interested in
various styles.
Man Age:17-35
Woman age: 17-45
Place: Big City and
Surrounding Area
Over Low Income
Industry details
According to the research, which conducted in July 2011 by First Research,
the customer product rental industry made $20 billion for annual revenue. These
products include electronics and appliances, DVDs and videotapes, formal wear,
home equipment, decoration goods, and recreational goods. The industry is
concentrated, so it is a cutthroat industry. The potential for development of this
industry depends on personal income. If people can afford to buy products, they do
not have to rent the products.
We are going to have 10% of formal wear rental industry in Los Angeles
within 5 years. Although this industry looks like a Red Ocean, The Dresser targets
the niche market with higher quality service. Currently, competitors provide rental
service without considering personal features for each customer. Therefore, The
Dresser will suggest differentiated service for customers to feel like that they wear a
tailor-made suit.
Competition
The Dresser has some competitors, but their fields are little different with
ours. The Dresser offers both men and women clothes while competitors
concentrate on one side. Usually our competitors provide the tuxedos and men’s
formal wear or evening dresses for women. Furthermore, competitors have clothes
from cheap or middle level brands in their inventory. However, The Dresser has
many high brand clothes such as Giorgio Armani, Chanel, Gucci, Prada, and so on.
Some clothing rental shop has very old-fashioned one, but The Dresser get brand
new clothes every season to preserve the high quality and follow the fashion.