A Fashionable Wardrobe in Evergreen Bagumbong, Caloocan City

Vol.3, No.1B

Abstract

The Fashionable Wardrobe is a new apparel store selling fashionable clothing to men and women. The store began in 2022 with the concept of different types of clothes with a combination of brand-new and preloved. It aims to provide top-quality products that are affordable and have unique designs. The demand for clothing in the Philippines has continued to rise over the past years. The household expenditure for clothing and footwear was valued at 77.2 billion Philippine pesos in 2018. Filipinos include shopping for clothing and apparel in their expenditures, with an average monthly income in the Philippines of PHP20,000.00. Clothing accounted for 5% of total spending.

Furthermore, in 2018, 68% of Filipino cross-border online shoppers spent money on fashion items such as clothing, shoes, and accessories. The plan focuses on various strategies for how The Fashionable Wardrobe clothing business will rise among the existing clothing industry on the market. Strategies include giving out fliers, posting tarpaulin, social media, flash sales, banners, coupons, loyalty cards, word-of-mouth, etc. The team set up several meetings and consistent communication to ensure they followed their mission and vision in putting up their business plan. The team carefully designed the costing to meet their expectations in profit. The Fashionable Wardrobe's outlined costing proves that the business plan will not only be successful once expectations in planning are met but will also change the game in the small clothing industry. Provided the marketing strategies that they have and resources, the team is very confident in providing people with the type of quality clothes and customer service they are looking for. Given the initial capital of P50,000.00, the team expects an estimated monthly income of around P103,343.00, a total of P1,107,246.00 net sales annually. The Fashionable Wardrobe aims to provide customers with quality clothing for a very affordable price and excellent customer service. The team considers themselves fashionistas, and so it's the main reason why this led to the creation of The Fashionable Wardrobe clothing business.