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Tham khảo tài liệu 'crowdsourcing for target inc', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Target Outline Target Partnering with Fashion Forward customers to Improve Forecasting Kenny Kellogg (David Hegarty, Scott Orn, Carolyn Starrett) Team Kenny Kellogg, McKinsey Business Technology Challenge Executive Summary Demand forecasting is a key success factor in apparel retailing Too little supply = lost selling opportunity Too much supply = significant mark-downs and inventory costs Studies show 5% gross margin improvements are possible1 Customer loyalty and involvement drive incremental sales Identifying the opportunity Target has the potential to harvest both the opinions and designs of their customers Online game rating the potential success of new clothing ‘Hot-or-Not’ meets ‘Lucky Magazine’ Online clothing design tool for user generated clothing ‘YouTube’ meets ‘Project Runway’ Successful predictions of ‘hot fashions’ earn ‘Fashionista Points’ and bragging rights Target foresees the new hot fashions identified by the ‘Fashionistas’ Harnessing the potential Improved . | Target Outline Target Partnering with Fashion Forward customers to Improve Forecasting Kenny Kellogg (David Hegarty, Scott Orn, Carolyn Starrett) Team Kenny Kellogg, McKinsey Business Technology Challenge Executive Summary Demand forecasting is a key success factor in apparel retailing Too little supply = lost selling opportunity Too much supply = significant mark-downs and inventory costs Studies show 5% gross margin improvements are possible1 Customer loyalty and involvement drive incremental sales Identifying the opportunity Target has the potential to harvest both the opinions and designs of their customers Online game rating the potential success of new clothing ‘Hot-or-Not’ meets ‘Lucky Magazine’ Online clothing design tool for user generated clothing ‘YouTube’ meets ‘Project Runway’ Successful predictions of ‘hot fashions’ earn ‘Fashionista Points’ and bragging rights Target foresees the new hot fashions identified by the ‘Fashionistas’ Harnessing the potential Improved forecasting could increase Targets’ gross margins by up to 5% Translates into an $404M increase by 2012 Increased customer engagement translates into increased loyalty Translates into an $127M increase by 2012 Based on an estimated implementation cost of $21M, the project could result in a NPV of over $600M Capturing the value (1) Profit Logic and Oracle estimates Team Kenny Kellogg, McKinsey Business Technology Challenge To continue its tradition of growth, Target will need to use innovation to deliver more of what customers want Target has achieved a 12% CAGR over the last 5 years In 2006, 22% of Target’s revenue ($12.7B) came from apparel and accessories In this category, Wal-mart owns the low end and has ~3x Target’s revenue Both companies are increasing total square footage at roughly the same rate (8% pa) Zara, H&M, and other affordable, fashion forward franchises are looming on the competitive front Zara grew sales 22% in 2006 (60% of sales come from outside Spain) Target is .
