Testing the Hypothesis part1

Winter Wear Rental

·       Opportunity: The growth of e-commerce globally. In 2017, it reached around $2.3 trillion and is expected to hit $4.54 trillion in 2021.Specifically, in Thailand, the growth is expected to be a 20% increase in 2020.

·       The who: Business, B2B, B2C, individuals who sell buy things online.

·       The what: There is a large market for people to do online business; however, it could also create threads to offline such as retail.

·       The why: Everyone is using smartphone.

·       Testing the Who: Not only do e-commerce benefit from this, customers also find that it is very convenient for them: more selection of goods and save time.

·       Testing the What: It encourages individual to start selling things through platforms such as eBay and Amazon. Many people can start their business from uploading their products through Facebook or Instagram. Also, it’s very easy to contact with customers via emails or WhatsApp’s. The advertising costs are low comparing to the conventional method.

·       Testing the Why: People use smartphone nowadays because internet is all accessible. People can download the app to do online shopping, payment and delivery channels are also very simple.

·       Interview #1: This is an interview I made with my friend who goes to University in Thailand. She said she enjoyed online shopping because it provides more styles of clothes than going to the brick and motor store. She said that she doesn’t normally carry cash and the online payment is so easy via PayPal. She’s made suggestion on winter wear about allowing customers to make rental on their winter wear that is still in good condition.

·       Interview #2: This is an interview I made with my dorm neighbour. She told me that her favorite part about online clothe shopping is seeing how influencers in the internet wears it, so she’s able to deicide easier to purchase or not. She also loves reading reviews and says that most online business have excellent services.

·       Interview#3: This is an interview with my cousin. He likes the idea of rent, wear, and return, which all done in online platforms. He told me that doing a rental business online is very convenient; however, he also loves to see the real product before renting them; specifically, to touch materials and try them.

·       Interview#4: This is an interview with my American friend that I met in a finance class. Her thought towards online business is very positive. She always shops online, as there are not as many clothing stores in Gainesville. She thinks that an online rental store would be a great idea because you don’t have to go to the physical store to pick up.

·       Interview#5: This is an interview with my aunt. He said that the only thing he dislike about online business is when he doesn’t get what he expects. The photo available in the internet cold pass several photoshop that alters the products. However, he thinks there are several efficient delivery methods that makes prompt delivers, which supports online business.

·       Given your interviews, what do you know about the opportunity that you did not know before?

o   First, also people love online shopping, customers still need the off-line stores. For the winter wear business, some customers want to see the product. They want to feel how warm the jacket is, and will they fit with size.

o   Secondly, a girl from interview says that online shopping makes her decision to buy products easier because she loves to see what influencers wear and how people thought about it through reviews.

o   Third, a girl suggested me that winter wear rental should allow customers to trade their products. For example, if I have a coat that I don’t wear regularly, I can lease to the rental shop and make them rent to customers. It’s a win-win position because the rental shop will get commission rate without having to buy inventory, it can save initial costs.