Kotu Fashion Accessories Shop
RESEARCH REPORT
KOTU fashion accessories Shop
Attract and keep loyal customers more effectively
INTRODUCTION
According to Minh Tam (2012), there was an increase by 17.3% in the total retail sales of goods and services in Vietnam, which was VND195.1trillion during 2012. This is a lower growth but still considerable comparing to the previous years, which often remained 20-22%. Therefore, Ms. Mai Thuyen Thuyen, the owner of KOTU Shop (KTS), stated in an interview on 6 March 2013, that since a young age, she has dreamed about opening a small accessary shop, which will be designed and managed on her own. To pursue her dream, two years ago, when she was 22, Thuyen decided to begin the business with her limited financial and supports from her parents. The owner of KOTU Shop said that the shop mainly sells fashion accessories and especially hand-made things such as rings, earrings, hats and mobile’s cases. This shop was chose to research on because the KOTU’s owner is a friend of a research team member and realizing this project is an opportunity to gain knowledge and skills needed in running a business, which could probably be helpful for the research team members in their future. The research team would like to make some simple recommendations in order to help KOTU Shop attracting more customers and developing the number of loyal customers by working mainly on sale promotion and internet advertising strategies, specifically the research team will apply membership cards, special offers and social networking sites.
LITERATURE REVIEW
According to the Research and Markets (2011), Vietnam was positioned in 23rd among 30 countries for owning one of the most attractive retail markets globally. The total retail value for clothing and accessories sector in Vietnam was 7.6% and held 72.9% of share in 2009. From 2004 to 2009, there was a growth in the number of clothing and accessories retailers in Viet Nam. As predicted in 2010, the number of goods and services would
KOTU fashion accessories Shop
Attract and keep loyal customers more effectively
INTRODUCTION
According to Minh Tam (2012), there was an increase by 17.3% in the total retail sales of goods and services in Vietnam, which was VND195.1trillion during 2012. This is a lower growth but still considerable comparing to the previous years, which often remained 20-22%. Therefore, Ms. Mai Thuyen Thuyen, the owner of KOTU Shop (KTS), stated in an interview on 6 March 2013, that since a young age, she has dreamed about opening a small accessary shop, which will be designed and managed on her own. To pursue her dream, two years ago, when she was 22, Thuyen decided to begin the business with her limited financial and supports from her parents. The owner of KOTU Shop said that the shop mainly sells fashion accessories and especially hand-made things such as rings, earrings, hats and mobile’s cases. This shop was chose to research on because the KOTU’s owner is a friend of a research team member and realizing this project is an opportunity to gain knowledge and skills needed in running a business, which could probably be helpful for the research team members in their future. The research team would like to make some simple recommendations in order to help KOTU Shop attracting more customers and developing the number of loyal customers by working mainly on sale promotion and internet advertising strategies, specifically the research team will apply membership cards, special offers and social networking sites.
LITERATURE REVIEW
According to the Research and Markets (2011), Vietnam was positioned in 23rd among 30 countries for owning one of the most attractive retail markets globally. The total retail value for clothing and accessories sector in Vietnam was 7.6% and held 72.9% of share in 2009. From 2004 to 2009, there was a growth in the number of clothing and accessories retailers in Viet Nam. As predicted in 2010, the number of goods and services would