Competitive analysis and Industry analysis
Handy is a platform that allow customer to rent a luxury handbags
- Micro-environment
- Industry analysis (Porter’s 5 forces)
Bargaining Power of customers
Threat of new entrants
Threat of substitutes
Competitive rivalry
- Market data
Include detailed information and figures
market share
Size of the market
Potential growth or declining of the market
Direct competitors
- how similar they are to you,
- sales volume of each competitor,
- market share of each competitor,
- how they attract customers,
- their strengths and weaknesses,
- how they position themselves,
- how they advertise.
- You will need many details about their price lists
- Distribution
- promotion activities
- Substitutes: Those products/servicesyou will be a substitute for E.g. soya milk may subs for cow milk (waiting list)
Competitive analysis:
Handy have quite a lot of direct competitors, and the model seem to be not much different from other competitors. However, from the research of our direct competitor, we have about 4 main direct competitors, eg HURR, Cocoon, Catwalk Club, Bags Butler
HURR
How it works?
- You will need many details about their price lists
HURR is a very famous renting platform in the UK. They provided all the fashion designer clothing bags accessories
HURR position themselves as a platform that allow render and renter to use their service with save
Lender & Renter
They also have a live chat popup
“Fit guarantee” means that when the renter ask for the product and it is not fit with them. Customer be able to refund within 24 hours of the rental commencement date .
The price of each bags depending on the brand and how the popularity of that specific model. First, this company limited the minimum time rang which is 7 days for customers to rent the bags. The bags price is between 60 to 300 pound.
How they attract customers:
HURR using all the social media platform to attract the customer included Instagram, Facebook, Pinterest, Youtube and tweeter. However, HURR seems to promote a lot of their service through Instagram
Her tagets market are all the women. They try to bring the idea of sustainability and sharing experience luxury wardrobe into reality with other women. They call customer who using HURR as a “The HURR Girl “who can play a really important role in the future of fashion trend.
CoCoon
How it works?
- You will need many details about their price lists
New customer will be received 50% off for 2 months
Positioning themselves as a company that stock bags and provided a renting service to all the customers
Delivery 7 days s
To used Cocoon service, Customer need to provide the subscription which is cost about 99 per months. Customer can rent only a bags per month. However, if customer would like to change during the month, customer need to pay the extra money to change the bags which is around 10 pounds.
Competitive analysis and Industry analysis
The problem within Cocoon
The problem that we found from Cocoon is that bags that they provided are not enough for customers to rent. According to my experience trying to rent a bag from Cocoon, I have to pay 99 pound each month and also 100 pound for guarantee. However, it seems very hard to get the bags I really want to use. It is showing that there is a problem within the website.
They offer same day delivery and next day delivery from Monday to Friday
Catwalk Club
Minimum is 4 days rent example new Dior cost 134. However, customer need to deposit 245
Instagram and Facebook
They have blog to update the fashion trend what is the trend that coming in each period of time
There also categories the bags according to the event or personality
Total they have 73 bags in the stock
- You will need many details about their price lists
Using DPD as a delivery product by sending a sms directly to the customer phones
If the customer returns the bags rage from rental date will be charge 50 pound per day which will deduct directly from customer credit card
The most powerful for Catwalk club is Instagram and tweeter but the company seems to rely on Instagram
Bags Butler
- You will need many details about their price lists
-7 days minimum and for each additional week need to pay around 25 to 85 pound depend on the bags
-32 bags totals
-Deposit around 100 to 150 pound depend on the bags
Instagram/ facebook/ tweeter/ Pinterest
–charity program donate 5% of their profit to Breast Cancer and support its bra recycling scheme.
What all competitors have in common
Link to handy
Our competitors have no live chat to help customer with any problem or queries about renting bags
Type of the bags
