Designing a consumer value proposition in second-hand fashion industry : X, a Web Application for buying and selling secondhand in Finland
Ngo, Kim Hang (2020)
Ngo, Kim Hang
2020
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020062419290
https://urn.fi/URN:NBN:fi:amk-2020062419290
Tiivistelmä
The main goal of this study is to identify potential markets, and market analysis to assess the business idea, a new Web Application for secondhand trading in Finland. A concentration of the study is to clarify the characteristics of consumer segments and to test if the value propositions of platform X are beneficial for them in the context of secondhand trading in Finland.
The concepts of sustainable fashion and reuse business model are revealed in the study’s literature review. There is also a literature topic concerning consumer needs, behaviors, and motivations of secondhand consumption: economic, recreational, critical, and fashion motivations. Lastly, the business idea of platform X is clearly explained through the framework of the business model canvas and value proposition canvas.
In terms of the research method, quantitative analysis is involved in the research process. A survey method was chosen for data collection. A set of two consumer profiles (Buyers and Sellers, two interdependent sides of the platform) are the results of the data collected from X’s potential consumers. By the end of the thesis, the value proposition canvas of these two consumer profiles is modified to improve the trading experience in the secondhand fashion market.
In conclusion, it is pointed out that both Sellers’ and Buyers’ needs in the secondhand clothing market have not fully being met yet. These desires are to seek new solutions and services that will satisfy them, which shows that there are many rooms for platform X to move forward and thrive. Still, additional investigation of advanced technology and some crucial questions related to the challenges of the multi-sided platform are needed for further development.
The concepts of sustainable fashion and reuse business model are revealed in the study’s literature review. There is also a literature topic concerning consumer needs, behaviors, and motivations of secondhand consumption: economic, recreational, critical, and fashion motivations. Lastly, the business idea of platform X is clearly explained through the framework of the business model canvas and value proposition canvas.
In terms of the research method, quantitative analysis is involved in the research process. A survey method was chosen for data collection. A set of two consumer profiles (Buyers and Sellers, two interdependent sides of the platform) are the results of the data collected from X’s potential consumers. By the end of the thesis, the value proposition canvas of these two consumer profiles is modified to improve the trading experience in the secondhand fashion market.
In conclusion, it is pointed out that both Sellers’ and Buyers’ needs in the secondhand clothing market have not fully being met yet. These desires are to seek new solutions and services that will satisfy them, which shows that there are many rooms for platform X to move forward and thrive. Still, additional investigation of advanced technology and some crucial questions related to the challenges of the multi-sided platform are needed for further development.