CIIP presentation script Flashcards
Recommendation/solution
- Introducing Gap Thrift App. An app available in Canada, inspired by Gap’s U.S. collaboration with ThredUp.
- Just like any thrift app, Its an app for people to resell and buy Gap.Inc clothes for a discounted price
- Gap will gain competitive advantage because no other retail store has done this before
- With every sale made Gap will keep 5% to keep the company profitable.
- Additionally, due to the high revenue losses companies face from returns, customers can simply resell items instead of returning them back to the store
Thred Ups success
- In August 2024, ThredUp reported a total of $79.8 million USD of revenue with $66.7 million USD in the US and $13 million in Europe.
- Because of Thredups success, our solution for gap creating a thrift app can bring similar stats, to ensure success.
Target market
- With this app we plan to target low to middle income families.
- By reselling their clothes on the app, they can earn money.
- Now Thredup does have the option to ship to canada, but for $20! That’s ridiculous
FEC
This plan is feasible since Gap has all the financial resources to start up their own app
They reported a 5% increase in net sales for the second quarter of the fiscal year 2024
The app is effective because it aligns with Gap’s objective of sustainability and reducing textile waste
Allowing users to resell and purchase clothes for a cheaper price will increase brand loyalty and attract customers.
Also, instead of returning items back to the store, people can just make money selling their clothes on the app
As for completeness, the plan includes activities such as app development, and in store donation systems.
The app will operate across all Gap. Inc stores including Gap, Banana Republic, Old Navy and Athleta which will increase online engagement across all brands
