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- All Subjects: E-Commerce
- All Subjects: online marketing
- All Subjects: Price Anchoring
- Creators: Boonlorn, Jennifer
Description
E-commerce has rapidly become a mainstay in today's economy, and many websites have built themselves around providing a platform for independent sellers. Sites such as Etsy, Storenvy, Redbubble, and Society6 are increasingly popular options for anyone looking to open their own online store. With this project, I attempted to examine the effects of four different marketing techniques on sales in an online store. I opened a shop on Etsy and tracked sales in connection with promotion through social media, selling products in-person at a convention, holding a holiday tie-in sale, and using price anchoring. Social media accounts were opened on Facebook, Tumblr, and Instagram to promote the shop over the course of the project period, and Etsy's web analytics were used to track which sites directed the most traffic to the shop. I attended a convention in mid-January 2016 where I sold my products and distributed business cards with a discount code to track sales resulting from being at the convention. A holiday sale was held in conjunction with Valentine's Day to look at whether holidays influenced purchases. Lastly, a significantly more expensive product was temporarily put in the shop to see whether it produced a price anchoring effect \u2014 that is, encouraged sales of the less expensive products by making them seem affordable in comparison. While the volume of sales data was too small to draw statistically significant conclusions, the project was a highly instructive experience in the process of opening a small online store. The decision-making steps outlined may be helpful to other students looking to open their own online shop.
ContributorsChen, Candice Elizabeth (Author) / Moore, James (Thesis director) / Sanford, Adriana (Committee member) / Harrington Bioengineering Program (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
The purpose of this thesis is to examine the effects of digital on the fashion industry. In order to accomplish this, we must first examine the fashion industry, as well as the emerging digital space, and how these two industries are rapidly colliding. Fashion, an industry that has been around since the early 1800s in the United States (Fashion History: The American System for Fashion, 2009), is being forced to pivot, and change its traditional practices, in order to remain relevant in a world heavily influenced by the Internet and consumer preferences. The largest changes taking place within fashion include the power of various industry influencers, including designers, magazines, retailers and lifestyle bloggers, and the rise of blogging as a fashion news source. Although designers, magazines and retailers still have significant clout within the industry, bloggers are becoming a force to be reckoned with, adding a new variable to the industry.
Meanwhile, digital is still being defined, as countless people work to determine best practices and reconcile the unending amount of information available into something that can be used. Trends in digital include the concept of new media, blogging, social media and new channels of media. Overall, we are seeing a shift to user-‐ generated content, available all the time, and a proliferation of content being created and published on the Web.
Some of the ways these two industries are colliding include the rise of lifestyle bloggers, developments and usage of technology, an abundance of new e-‐commerce models, and finally, a shift in the ways consumers curate and discover products online.
Predictions for the future include a more streamlined and user-‐friendly process for search and product discovery online, increase in social commerce and personalization of products, and finally, a return to brick and mortar shopping, but with an improved, experiential model. These trends will affect industry stakeholders dramatically, and so necessary actions for these stakeholders are also discussed, such as allocating more resources to content generation and e-‐commerce, giving consumers the ability to personalize, and improving their physical shopping experiences to provide something valuable and entertaining.
Meanwhile, digital is still being defined, as countless people work to determine best practices and reconcile the unending amount of information available into something that can be used. Trends in digital include the concept of new media, blogging, social media and new channels of media. Overall, we are seeing a shift to user-‐ generated content, available all the time, and a proliferation of content being created and published on the Web.
Some of the ways these two industries are colliding include the rise of lifestyle bloggers, developments and usage of technology, an abundance of new e-‐commerce models, and finally, a shift in the ways consumers curate and discover products online.
Predictions for the future include a more streamlined and user-‐friendly process for search and product discovery online, increase in social commerce and personalization of products, and finally, a return to brick and mortar shopping, but with an improved, experiential model. These trends will affect industry stakeholders dramatically, and so necessary actions for these stakeholders are also discussed, such as allocating more resources to content generation and e-‐commerce, giving consumers the ability to personalize, and improving their physical shopping experiences to provide something valuable and entertaining.
ContributorsLose', Jenna Elizabeth (Author) / Ostrom, Amy (Thesis director) / Giles, Bret (Committee member) / Boonlorn, Jennifer (Committee member) / Barrett, The Honors College (Contributor) / Department of Marketing (Contributor)
Created2013-05