Snapbacks Swot Analysis
Nature of Industry Snapbacks started out in the 1900s and were worn by American baseball players in the 1950s which eventually became one of the highly rated fashion trends in New York and Los Angeles. Snapbacks were in vogue a few years back and went out of fashion after a period of time. Now, it has once more come back in fashion along with a high demand. Today, Snapbacks are well-worn around the world especially in the music and dance industries. Even many popular celebrities such as Jay Z, Chris Brown are seen carrying headgears in their music videos and concerts. There were a handful of brands selling snapbacks but the more popular ones would be Supreme, New Era 59fifty, Obey, Hater, Reebok, Zephyr and Mitchell & Ness. Out of all the …show more content…
With lesser competition, traditional stores therefore do not give discounts or may give slight discounts. However, it can also be high as traditional stores usually offers better quality snapbacks and focuses on expanding its customer’s base by offering loyalty cards. Opposing to traditional stores, online stores tend to offer more discounts to deal with the mass market such as Taobao, Qoo10, Amazon, Blogshops considering the fact that it is cheaper to setup a site. In this case, the bazaar will face a higher competition pressure against the high concentration of online competitors but will have a competitive advantage over the traditional stores through attractive promotions and differentiation. Idea generation The reason why I chose this idea for the bazaar was because I personally feel that being able to customize my personal snapback enhances my creativity. Furthermore, it’s the latest fashion trends that makes one’s wardrobe fresh. When one is choosing an accessory, it would definitely be something that will add to their look or even compliments it. Snapbacks exhibits a masculine look on a feminine outfit which display one’s personality and lifestyle. On top of that, it can also be of a great help during a bad hair day. Market Feasibility For this bazaar, it will be held on the 3rd December 2014 and the venue will be at Downtown East E!Hub Level 4. The bazaar will begin at 11am and ends at
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