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Stitch fix - E-business
Course: Management (mgm101)
287 Documents
Students shared 287 documents in this course
University: University of the Punjab
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Summary:
The paradigm shift in business practices and innovative technology pose a big challenge for
businesses in today’s world. Dynamic technical innovations, Scarcity of resources, Increasing
human resource costs, and tough competition are major challenges for firm’s endeavors to fulfill
customer demands effectively and efficiently. In order to keep their performance indicators
positive all business use different strategies to mitigate the risks and to assure sustainable
growth in their respective domains. Business practitioners use theoretical knowledge in
business practices to ascertain its usefulness. Research scholars have provided us with different
theories of strategic and competition which are generalizable for all business existing in world.
These theories have proved their significance in practical business practices in different times
and situations. The evidence of practical implications of these theories have passed the test of
time in the form of high quality products and increased customer satisfaction as we can easily
witness in today’s modern world.
Current study presents the strategic analysis of Stitch Fix. The business has been providing
personal styling services in USA since 2011. The business went public in 2017 having value of 1.6
billion (Hirsch, and Lauren 2017). According to official web of Stitch Fix the vision of business is
to create a personalized shopping experience for customers. The e-retail model of business uses
modern technology and expert stylists’ opinions to make the personal styling for customers easy
and effortless.
Introduction part of study presents current business situation including business offerings and
strategic analysis. A comparative analysis of nature of brick-and-mortar and online competitors
of Stitch fix is presented on the basis of SWOT analysis (Newton and Newton, 2013) where
internal and external factors affecting business are analyzed by considering the target
marketing, product customization of Stitch fix and differentiation by using expert opinions,
pricing comparison of personal styling business, marketing, supply chain, value chain, and
customer segmentation.
Secondary data collection of financial reports of Stitch Fix was conducted; these reports are
available on official websites of the firm. Purpose of study is educational and complete