Market Expansion Strategies for Chic by Choice

This research report focuses on market expansion strategies for Chic by Choice, an online fashion retailer. It explores the internal and external analysis, risk analysis, and marketing strategies for opening physical stores in the UK marketplace. The report also discusses the advantages and disadvantages of different market entry modes and justifies the selection of Chic by Choice as the case study. The aim and objectives of the research are outlined, along with the research questions and time scale. The report concludes with recommendations for Chic by Choice to successfully enter the UK marketplace.

Entrepreneurial Project
Research Topic: Market expansion strategies for Chic by Choice

Table of Contents
Research Topic: Market expansion strategies for Chic by Choice..................................................1
Research and planning methodology..........................................................................................3
Research aim and objectives ......................................................................................................4
Research questions......................................................................................................................4
Justification for selection of company........................................................................................4
Time Scale...................................................................................................................................5
Literature Review.............................................................................................................................6
Organisational Background.........................................................................................................6
Business Expansion Strategies ...................................................................................................6
Internal analysis .........................................................................................................................7
External analysis ........................................................................................................................9
Market expansion strategies......................................................................................................11
Risk Analysis.................................................................................................................................13
Recommendation and conclusion..................................................................................................13
Conclusion ................................................................................................................................13
Recommendation ......................................................................................................................13
REFERENCES..............................................................................................................................15
APPENDIX – ................................................................................................................................17
.......................................................................................................................................................17

Research Background
Market expansion refers to be an effective strategy which helps a firm in maximising its
current and future sales (Putzhammer and et. al., 2019). For making such a strategy, it is essential
for a firm to consider which market would be easy in light of experience A property management
is essential for a company especially those who has online presence and seeks to open physical
stores now. For purchasing a run-down store, remodels them and conduct market analysis
carefully, is also considered as main aspects for developing strategy (Koves, A. ed., 2019).
Recognizing that marketing skills could be applied to opening a store, so that factors that may
impact on business operations can be explored and strategies to overcome from same can be
made. The present research is based on this concept of market expansion, where a company i.e.
Chic by Choice, wants to open physical layouts in commercial marketplace. Currently this firm
has online presence in Europe and UK marketplace, where through its websites, people can hire
branded designer and luxury clothes which are curated by department and boutiques stores.
Dealing in the e-commerce fashion industry, this firm is headquartered in European Union, in
2014 by Filipa Neto. In order to develop market expansion strategy for opening retail stores in
UK market, present report is highlighted the political environment and other situation of
marketplace of this nation. Through this process, proper recommendation for growth strategy for
respective company also made.
Research and planning methodology
For gathering information about UK market and its current situation that is essential to be
known by management of Chic by Choice, Pestle and Porter’s Five Forces model is used.
Hereby, Pestle model helps in understanding political and legal environment, social factors and
more, that helps in developing business policies as per rules and regulations of UK, so that
chance of running business long time in this nation can be enhanced (Craypo and Nissen, B. eds.,
2019). While by Porter’s five force model, level of competition, threats of substitutes, new
entrances and more, can be evaluated to develop effective growth strategies for market
expansion. While to identify internal capabilities of Chic by Choice that helps in understanding
how much company is enabled to achieve its objective, TOWS model is used. This would also
help in evaluating weaknesses of respective business that might come as barrier during
expansion (Tashman, Marano and Kostova, 2019). The risk analysis is also going to be
considered for evaluating the opportunities that may enhance future sales of respective firm in
3

UK marketplace, through physical outlets. For this process, proper market analysis is done by
taking a number of secondary resources that will appropriately arrange in literature review part.
While to conduct data analysis, self-questionnaire is prepared which will be further fulfilled by
company’s stakeholders and investors. But before to done all these planned activities, the main
aim and objectives of present research is framed in following way –
Research aim and objectives
Aim:
The main aim of this research is “To develop market strategies for shifting business
from online to offline by utilising market entry mode across the nation.”. A case study on Chic
by Choice.
Objectives
 To identify the different market entry mode for opening physical stores in market era.
 To analyse the internal and external market analysis of new marketplace of UK.
 To conduct risk analysis for determining proper growth and success at new marketplace.
 To develop marketing strategies for opening physical stores in UK marketplace.
Research questions
 What are the different market entre modes for opening a store in new marketplace?
 Which analytical tools are needed to analyse new marketplace of UK?
 What risks factors will be involved in growth and success of business expansion?
 Which marketing strategies need to adopt to Chic by Choice to enter in UK marketplace?
Justification for selection of company
Chic by Choice is operating in e-commerce industry with only one showroom in Portugal.
Through its attractive websites, customers get opportunity to hire designer wears and jewellery
on discounted rates. Therefore, the reason behind chosen of this firm how such a company can
face challenges and benefits if open its physical outlets either in headquartered area or across the
territorial boundaries. Through this report, proper suggestions for respective firm to open
business in UK marketplace is given.
Time Scale
In order to conduct research and market analysis, following activities will be done with
time framework -
4

ACTIVITES W1 W2 W3 W4 W5 W6 W7 W8 W9 Wk10
5

Research topic
Research and
planning
methodology
Collect secondary
sources of
information for
research project
Complete
collecting data for
study and present
the result
Discussion
Risk analysis
Recommendation
and conclusion
Prepare final draft
Feedback updated
Complete the
report and submit
the final report
Literature Review
Organisational Background
When a firm achieve a certain level of success and has marked its presence as a company
leader, then to gain higher benefits, they think about further expansion of business into new
markets (Putzhammer and et. al., 2019). It aspires good entrepreneurs that early success in
6

business may often fuels their dreams of higher growth. But such expansion of business requires
a firm to conduct proper market analysis and take careful steps to market its position, because
without proper understanding of business environment, the pitfalls of their business will grow
too fast (Koves, A. ed., 2019). However, along with drawbacks, there are number of factors also,
that provides advantages of growth and success, that may help in making the right decision for
business expansion. In context with present firm i.e. Chic by Choice, this firm has made its
effective presence in online market, that creates viability of its business in targeted customers.
So, it shows that opening physical stores may provide higher benefits to this firm and retain
existing as well as attract new customers more easily (Craypo and Nissen, B. eds., 2019). Market
trends tend considers as to be heavily influenced by habits of consumer and their preferences. In
this regard, it is identified that opening business in UK market would prove beneficial for Chic
by Choice, because people of here prefer to buy trendy and fashionable clothes that are available
on cheap rates. As respective firm offers its designer clothes and jewellery on rents therefore, it
will be easy to increase footprints of customers in its new outlets more easily.
Business Expansion Strategies
To operate business in international market, there are number of market extension
strategies that can be used using market entry modes like merger and acquisition, strategic
alliance and partnership etc. as explained below –
 Licensing and franchising – Licensing refers to a business arrangement in which a
firm allows another company for manufacturing its products at specified modes of
payment . While franchising defines a process where a company use the trademark or
brand logo of another firm for marketing own products. These are the two specialised
modes for international expansion which would help Chic by Choice in easily entry into
another market, with low cost and less risk in business expansion (Ren, Hu and Cui,
2019). But having a less control considers as most disadvantage factor licensing and
franchising modes for Chic by Choice in UK marketplace.
 Partnering and strategic alliance – Forming global strategic alliance provides the
incredible new opportunities to business like sharing of resources to launch a firm in
new marketplace. This would allow the partners to reach their goals more easily by
establishing their business in rapid manner. By strategic alliance with local partners,
through contractual agreement, Chic by Choice can easily open its layout in UK
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marketplace. This would help in understanding culture, taste of customers and way of
operating business competitively than others (Breinbauer and et. al., 2019). But it will
take higher cost than other market entry modes as well.
 Merger and acquisition – M&S opens up a new market for both firms that merge their
businesses for selling the products in overseas (Putzhammer and et. al., 2019). It
upgrades the internal capabilities of organisation by creating a massive charge on
numerous budget line. By purchasing or exchanging stock of other firms, Chic by
Choice can establish its business more easily.
Advantages and Disadvantages of each market entry strategy -
Strategies of business
expansion
Advantages Disadvantages
Licensing Licensing the business will
reduce the requirement of
sourcing money for
commercialising the
business.
Loss of control over
business operations, poor
quality management and
more, are some of the
potential risk of licensing.
Franchising This would provide more
secure investment with
benefits to find loyal
customer base and brand
recognition.
Using this strategy will
arise restrictions for a firm
in terms of business
operations, where it sell the
products and more.
Partnering and strategic
alliance
Strategic partnership will
help a firm in enhancing the
productive capacity of
business in terms of
distribution system, creation
of synergy and more, with
reduction in costs and risks.
However, alliance can add
value to business at new
marketplace, but it may
create conflicts in claims of
ownership between partners
and lead to arise further
discrepancies also.
Merger & Acquisition When two firms come This may create differences
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together via M&A then it
adds more value by
enhancing the level of
overall revenue.
within organisational
culture when employees of
two different firms works at
same place.
Therefore, it has been analysed from all over the discussion that global strategic alliance
will help Chic by Choice to get incredible new opportunities, for opening its business over
market area of UK (Breinbauer and et. al., 2019). By forming alliance with local or branded
companies of UK, it can maximise its resources, through which global presence can easily
establish. As this firm has already earn the trust of its loyal customers of UK marketplace, by
offering products through online, therefore, formation of strategic partnership to enhance the
more value of business in new retail stores. Along with this, it also provide new insights as well
as ideas to respective firm in improving its existing product line, which will create an edge over
competitors. This would increase chance of generating more revenues and success from moving
the business from online to offline mode (Koves, A. ed., 2019).
Internal analysis
Online retail business has become extremely more competitive, where presence of a
number of substitutes creates threats for a firm to enhance its sales (Hair Jr, Page and Brunsveld,
2019). Here, niches are plugged with alternatives and a compelling brand is catering for each and
every market segment. Therefore, under such condition, to enhance more sales, move business
from online to physical stores will prove beneficial for Chic by Choice. As due to presence in e-
platform, its business is already famous in Europe and UK marketplace, therefore, if open-up
physical stores will provide opportunity to customers to hire designer wears directly as per
choice (Ulin, 2019). But before shifting business to new marketplace, it is essential for this firm
to examine its capabilities and how much it is able to grab market opportunities. For this
purpose, TOWS matrix is considered as perfect tool to analyse and select the perfect business
strategies for attainment of business goals and objectives. Instead of identifying business
opportunities or threats of marketplace, this tool focuses on main aspects of opportunities and
risks that creates threats (Kremez and et. al., 2019). Henceforth, taking TOSW matrix as a tool to
generate strategy for market expansion in UK, internal analysis of Chic by Choice is done in
following way –
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Chic by Choice has various strengths, weakneses, opportunities and threats as under:
Strengths:
 Strong portfolio and brand image in retail sector
 Strong supply chain
 Having support of investors for capital requirement
 Successful entrepreneurs in e-commerce and fashion industry
Satisfied large base of customers of both Europe and UK marketplace
Weaknesses:
 Shortage of human resource with less experience staff
 Lack of specific knowledge and skills that are essential for running a store in competitive
marketplace.
 Having high inventories that requires more place to manage the quality of products
Imitator, not creator where not having strong presence in physical stores may create barriers in
attracting customers
Opportunities:
Accessing to both European Union and UK marketplace
Global expansion in both e-commerce and physical market
Availability of technology for enhancing shopping experience
Improvement in workplace by hiring more workers who have knowledge to deal with customers
in retail section
Threats:
 Lack of collaboration with local suppliers and dealers
 Changes in customer preferences and trend
 Instability of politic and economic factors
 Fierce competition
Using all above SWOT factors, TOWS strategy is developed which shows how Chic by
Choice can establish their potential of growth in the UK market.
Strengths Weaknesses
Strengths/ Opportunities (SO) –
 Utilising the existing strong brand
image in retail section and multichannel
Weaknesses / Opportunities (WO)
 Increase workplace by hiring talented
workers for different-different positions
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Opportunitie
s
strategy to flourish the marketplace of
UK
 High demand of customers to hire
designer clothes and jewelleries on
rent, help in enhancing sales at
stores, by providing them range of
items on attractive discounts
(Craypo and Nissen, 2019).
 Increase market share in UK area by
offering trendy and fashionable clothes
as per demand of customers on
reasonable rent price.
at stores and provide adequate training for
human resource development.
 Develop a new management system and
introduce new technologies at stores for
creating innovations in business.
 Logistic department and proper inventory
management at store layouts.
Threats
Strengths / Threats (ST):
 Make investment in research and
development for proper market
analysis.
 Increasing market share by developing
relationship with local suppliers and
distributors to understand demand of
new market and offer designer wears as
per customer preferences
 To overcome from fierce competition,
Chic by Choice needs to utilise all its
core strengths which provide a
sustainable advantage, with more focus
on branding strategies.
Weaknesses / Threats (WT)
 Offer products on competitive rates by
focusing on multichannel strategy.
 As shopping behaviour changes the
customer preference therefore, more
innovation is necessary to increase
footprint of targeted audience of UK.
 Promotional activities based strategies
will ensure proper growth and success of
business.
External analysis
Before launching a business at new place, it is essential for every company to determine the
business environment of that place (Ma and Yang, 2018). This would help in determining the
risk factor as well as in developing strategies to deal with same. In context with Chic by Choice,
11

in order to increase chance of future growth and success, by opening its physical stores in UK
market, it is essential to conduct how external factors impact on it operations. For this purpose,
PESTLE analysis has been done in following way –
Political factors – UK is considered as a part of EU market, which reflects that it can
trade in other markets of fourteen countries easily, without facing any barrier (Putzhammer and
et. al., 2019). Therefore, launching business in both EU and UK market, will prove beneficial for
Chic by Choice in terms of – greater competition, no cost for changing the currencies, greater
access for cheap factors like labour, raw materials and other, etc. Along with this, in context with
stock market, UK also gives advantages for a cheaper marketing environment with a lower
regulatory burden (Koves, A. ed., 2019). But to reduce the impact of Brexit, respective firm has
to develop effective policies to stay in this market long.
Economic factors – Economic volatility of UK market can affect both sales and
profitability of Chic by Choice. But demand of customers for trendy and fashionable clothes,
with high level of competition among fashion retailers, help in stimulating the recession period
of economic (Craypo and Nissen, B. eds., 2019). People having low income level due to high
unemployment, mostly seeks to purchase apparels and attires on rent. So, expansion of rental
clothing in such area in terms of both casual and formal, with cost-effective service, give
advantage to Chic by Choice to easily enhance its sales and generate high profitability as well.
Social factors – Due to social media, today, customer taste for fashion and trendy clothes
has continuously changed. Therefore, most of the domestic and international countries concerns
more on offering fashionable attires on cheap rates in UK market, to retain customers for long
time (Liuhto, 2019). So, social factors play a major role in enhancement of growth and success
of fashion industry. High class fashion now no more privilege for any class of people due to
availability of range of products on affordable rates. This would reflect the chance of high sales
for Chic by Choice as it offers designer branded wears on rents.
Technological factors – The technological infrastructure in UK market is more
sophisticated, where to gain high competitive advantages, each firm concerns on introducing best
technological at stores that enhance shopping experience of customers (Sharma, 2018). Along
with this, technology also plays a stronger role in influencing the taste and preference of
consumers for increasing their feet in retail stores. The fast and rapid developed fashion segment
of this industry has also reflected that presence of affordable luxury brands attracts and retain
12

customers more easily (Lin, Chen and Heng, 2018). Therefore, management of Chic by Choice
also needs to give more attention on development of infrastructure at stores, where access to
trendy and fashion clothes would become easy for customers.
Legal factors – Legal challenges, ethics and compliance abound the fashion retail
industry, where to launch business in UK, Chic by Choice needs to compile its business with
labour laws and employment regulations (Jin and Hurd, 2018). This would prove beneficial in
reflecting the positive brand image in front of targeted audience. For this purpose, management
of respective firm needs to frame employment policies as per UK laws like National Minimum
Wage Act 1988, Equality Act 2010, Health and Safety Act 1974 etc. so that rights of
employment can be maintain as per legal requirement (Liuhto, 2019) . This would aid managers
of Chic by Choice to frame employment contract as per British legal rights, which include entire
details such as salary, working hours, incentive and other monetary as well as non-monetary
schemes with employment rights and responsibilities, so that high job satisfaction can be
provided. Through compliance these laws, this firm can attract new talented employees more
easily in new marketplace of UK.
Environmental factors – Sustainability and environment both are concerning factors for
fashion industry, which force firms to use environmental friendly packaging and raw materials to
reduce carbon footprints (Clark and Phillips, 2019). Therefore, minimise the carbon footprints
and maximise the productivity will prove beneficial for Chic by Choice, in operating its business
successfully. For this purpose, respective firm needs to replace plastic bags by organic paper
bags for packaging, so that sustainability of business can be maintained (Tashman, Marano and
Kostova, 2019). Along with this, it also essential for management of Chic by Choice also needs
to concern on reducing the energy wastage at stores for becoming more environment friendly, by
installing compact fluorescent light bulbs, automatic light sensors on outdoor lighting etc.
Therefore, from all over macro-environment analysis, it has been analysed that there is a
great opportunity for Chic by Choice to move its business in UK marketplace.
Furthermore, to run business effectively, it is also essential for Chic by Choice to
determine the level of competition and factors that generate threat (Dang and Pham, 2018). For
this purpose, Porter’s five force model can be utilised as described below –
 Bargaining power of suppliers – Within fashion industry, bargaining power of suppliers
is relatively small, because firms that offers such products especially on rent, source the
13

same from third manufactures (Zhang and et. al., 2019). Therefore, suppliers will have
little control on Chic by Choice operations in UK market.
 Bargaining power of customers – It is considered as the most fierce factor, where
buyers have power to push down price of any industry. Thus, clothes shoppers of UK will
influence pricing strategies of Chic by Choice.
 Threat of new entrants – Easy entry mode in UK marketplace, give opportunity to
every firm to establish their business over there (Clark and Phillips, 2019). So, it creates a
high threat for Chic by Choice in terms of sales and profitability.
 Threat of substitutes – This force relatively taken as negligible due to less substitutes of
clothes (Shi, Xie and Han, 2018). Therefore, threat of substitutes is less for Chic by
Choice where substitution is only taken as presence of competition.
 Fierce competition – Intensity of rivalries in fashion industry is much higher in fashion
and apparel industry, where large number of retailers create threat for Chic by Choice.
For example – Presence of branded fashion retailers like Zara, H&M, M&S and more,
arise difficulties for Chic by Choice in attracting and retaining the residents of UK
towards its brand.
Thus, it is essential for management of Chic by Choice to conduct proper market
analysis, for analysing the intensity of factors which may affect its sales and profitability in UK,
after launching its business over there. This would help in framing better strategies for gaining
advantage over fierce competition, by offering a range of branded products on more reasonable
price rates (Tashman, Marano and Kostova, 2019). Along with this, to overcome from threat of
new entrance, that may weaken the future position of respective firm in UK marketplace, it needs
to focus more on exceeding the customer satisfaction through product differentiation.
Implementing this strategy will also reduce barriers which might arise due to availability of
substitutes, where management of Chic by Choice needs to concern on making more investment
on sales and promoting activities for creating value of business to public. As per BBC news, it
has been evaluated that purchasing from retail stores in UK now increased over 4.57% in 2017 as
compared with previous years (High street crisis: Charting how we spend our money, 2018).
Along with this, many branded companies like House of Fraser, M&S and more, now shut their
stores due to rising costs and competition with online stores. In such condition, if Chic by Choice
opens its business in UK marketplace and offer its trendy clothes on reasonable rent rates, then it
14

will increase chance of influencing purchasing behaviour of customers more easily. As per latest
report by Office for National Statistics (ONS), consumer purchasing power for buying products
from retail stores is gradually increase therefore, this would also increase chance of higher sales
revenue after launching its business (as shown in Appendix).
Market expansion strategies
As per views of Rick Suttle (2019), International expansion can be developed effectively,
if management of Chic by Choice recognise the different entry modes. It includes merger and
acquisition, franchising, partnership and strategic alliance etc. All these factors help in
discovering the new way for mitigating requirements of business, that are needed for opening a
new business (Gorodnichenko, Sheremirov and Talavera, 2018).
 Market penetration strategy: One growth strategy that helps Chic by Choice in
business expansion is market penetration. This market penetration strategy is normally
utilized when a firm decides to market its existing products within new marketplace
(Tashman, Marano and Kostova, 2019). This would help in increasing market share,
where respective firm can market its existing products by opening physical stores. For
penetrating the market, another way is to increase market share via offering products on
less rental price. As in UK market, where there is high differentiation among products, a
lower or competitive price may help this company in sustaining the marketplace.
 Growth through diversification: Growth strategies while expanding business also
depends also diversification, where to open physical stores at new marketplace i.e. in UK
Chic by Choice needs to develop strong portfolio by offering more new trendy clothes.
However, this type of strategy considered to be risky therefore, management of Chic by
Choice needs to develop plan carefully while using this diversification strategy for
business growth (Kremez and et. al., 2019). For this purpose, marketing research is also
essential to identify whether targeted market will welcome its products.
 Product expansion strategy: A small company like Chic by Choice may also help in
expanding its product line by adding the new features in existing ones, for increasing its
sales and profits. For employing this product expansion strategy, respective company
needs to offer its stock of designer apparels within existing store which is located in
Portugal. A product expansion growth strategy often works well when technology starts
15

to change (Ulin, 2019). A small company may also be forced to add new products as
older ones become outmoded.
Risk Analysis
With the availability of advanced technology, it would become easy for any firm to operate
its business successfully at both international and foreign marketplace (Ma and Yang, 2018). For
this purpose, they can adopt different marketing strategies and entry modes to launch business
successfully. In context with Chic by Choice, as it has already online presence in retail fashion
industry and considered as one of the branded firm that offers attires and designer clothes on
rent. So, opening physical stores will easily help in attracting its customers and enhance more
sales. But it may arise a number of risks also such as less information for estimating the
variability in sales (Putzhammer and et. al., 2019). Similarly, sudden changes local economic
environment of UK also arise threats for generating profitability. Deal with impact of Brexit and
other political factors also requires proper planned activities, other it will affect on long run
business objectives of Chic by Choice. Therefore, proper risk management is essential for a firm
in operating its business successfully.
To operate physical stores in UK marketplace, management of Chic by Choice needs to
concern on inventory management first. By keeping adequate supply of fashionable and designer
wears as per current demand of market, can reduce risk of purchasing inventories and excessive
storage cost for respective firm. Other main factor that may arise risk is trend assessment because
changes in trends is highly influenced the customer behaviour. Therefore, if Chic by Choice will
not upgrade its commodities as per latest trend then it may increase inventories and enhance
chance of sales decline in future also.
Recommendation and conclusion
Conclusion
It has been concluded from this research, for expanding business in domestic and foreign
market, a firms needs to put heavy investment on research and development department. This
would help in analysing current situation of marketplace with prediction of future viability.
Through this process, a firm can develop better strategies for expanding its business profitably.
Along with this, through risk analysis process, they can measure risks factors that may impact on
16

business operations in future. Therefore, before launching a business in new marketplace,
analysing the situation of market would prove beneficial, in terms of increasing sales and
profitability.
Recommendation
Chic by Choice may face difficulties in operating it successful at initial stage, because of
less retail experience and potential of innovation. Therefore, for launching stores in UK market,
it needs to concern on developing innovation in its stores first, so that attention of new customers
can be gained. To gain high competitive advancement and expand business successfully, some
recommendations are given as below –
 Partnering and strategic alliance refers to be best market entry mode for Chic by Choice
that helps in developing new routes for business expansion. Signing a contractual
agreement with local partners also aid to grow sales within emerging market of UK to
this firm. This would help Chic by Choice in setting new international standards for
technologies, dividing the liabilities of risks among business partners, forming new
economies of scale and more. Sharing R&D costs and facilities is the main advantage
factor of strategic alliance, which provide more value to business and sharing expertise
will also speed up the process of establishing stores at new marketplace.
 Penetrating market of UK is the best business expansion strategy for Chic by Choice, that
helps this firm in selling its existing products at new era. This would provide greater
dominance by focusing on larger share. For this purpose, defining the market and
targeted customers also prove beneficial for this firm in enhancing its sales. The reason
behind adopting this strategy is that it create goodwill of business among customers who
are willing to purchase product because of aggressive pricing. For this purpose,
management of Chic by Choice needs to increase promotional activities by offering
products on discount rates.
 As people seeks to purchase apparels from those stores where they get easily access of
desired clothes, therefore, developing innovation will help Chic by Choice in enhancing
their shopping experience. Innovation is essential for enhancing and exceeding the
satisfaction level of customers, so that chance of retaining them in business can be
increased.
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APPENDIX
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