Bindle Marketing Plan

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POLITICAL

The political factors for the retail industry includes the interest rates, political stability, and consumer protection and foreign exchange rates. The government policies play an important role in ensuring that competition amongst the retail companies are not restricted and that the regulations related to online business do not unnecessarily hinder the firms from addressing the issues that are their responsibility. The falling Australian dollar has helped the online retail industry to capture 75% of the total online spending. The Australian dollar fell below US$0.80 late in 2014 and has continued to face downward trend. Some of the analysts are predicting that the dollar will fall further over next 12 months (Ferrier Hodgson, 2015). Due to this, the online shopping trend is increasing. [pic 10]

ECONOMIC

At the end of the mining boom and in the middle of the housing boom, Australian consumers are still struggling to spend. The green indicators of the economy has been the modest GDP growth rate, escalating prices of houses, low interest rates and volatile stock market. Australians aging more than 14 years makes up 40% of the total population of Australia (Ferrier Hodgson, 2015). Australians aged 14+ are showing most interest in buying one or more products via internet, according to Roy Morgan Research (2015).

sOCIAL

A study by Credit Card Selector Company revealed that saving has been the primary driver of shopping gifts online in Australia with 74% of the respondents stating that online shopping of gifts saved them money (Read, Min, 2014). 46% of the respondents in the survey by Credit Card Selector Company revealed that ease of access to wide range of gifts lured them into buying gifts online while 37% revealed the attraction to be lower prices (Read, Min, 2014).

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Source: (Read, Min, 2014)

TECHNOLOGICAL

Social media, Smart Phones and Smart Wearables technology has changed the retail industry immensely throughout the globe. According to the research conducted by Ferrier Hodgson (2015), 79% of the Australians researched a product or service to buy the products through their smartphones. 25% of the consumers engaged themselves in shopping online through their phones. Social channels like Facebook, Twitter, Instagram and Pinterest have revolutionized the way shopping is done. 41% of the population was seen to use social media for researching the gift ideas while 37% of the people directly ask their friends and family for gift ideas through social channels (Read, Min, 2014). Search engines, emails from websites and website visits are common ways through which people find online stores easily.

In the survey conducted by Credit Card Selector, 62% of the respondents bought gifts using search engines online while 31% visited the website of the store directly (Read, Min, 2014).

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Source: (Read, Min, 2014)

Home Personal Computers have remained the popular access point with 68% of the respondents to purchase the gifts while mobile phones were used by 32% of the respondents to make a purchase.

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ENVIRONMENTAL

Bindle is an online gift service that engages the local artisans for producing the hand-made gift hampers. As Bindle belongs to online retailing industry acting as boutique gift service, so it is naturally affected by the environmental concerns regarding waste and discarding of gift papers (IBISWorld, 2016). Australians are increasingly concerned about the environment due to which retailers are ensuring sustainability in their supply chain process. In a global report conducted by Nielsen (2014), 55% of the respondents of survey were willing to pay extra for earth friendly products. Much of the emphasis was put on the role of sustainability in paper products specifically the gift papers. [pic 16]

Reusing, recycling and deforestation-free materials are gaining popularity in the paper industry which has fundamentally shifted the critical marketplace. Many manufacturers have been focusing on delivering the attractive products made up of recycled paper and packaging. The increasing demand for environmental friendly products and sustainably sourced paper packaging have acted as significant implication for retailers (Nielsen, 2014).

LEGAL

Australia has been following the footsteps of United States and European countries by placing in a law namely Illegal Logging Prohibition Act in 2012 (Australian Government, 2011). This law prohibits the import or sale of the illegally sourced forest products that includes packaging and paper. Reasonable due diligence is required by the importers while importing the products that include paper packaging. The laws under the act will hit the paper packaging industry and the gift packing companies. The Aussie companies with primary business in gift wrapping will be hugely affected by the Illegal Logging Prohibition Act. Furthermore, the requirements by government to obtain Endorsement of Forestry Certification (PEFC) have also been set up for ensuring that the products that use paper prior selling to final consumers are sustainable at all levels of the supply chain (Australian Government, 2011).

MICRO FACTORS

COMPANY

Bindle blends the sustainability with style wherein each bindle is a total compilation of talented individuals that stir in their own personality and creativity while wrapping up the gifts. In a unique sense, Bindle is a term that is used for describing a bag or carrying device. While in a modern way, Bindle is a creative gift box comprising of variety of products (Bindle, 2016).

CUSTOMERS

The customers of Bindle are the online shoppers that want their gifts to be customized and attractively packed with ease. Bindle treats its customers in a special way as it the gifts are all wrapped up in the perfect little Bindle way. The gift hampers are creatively packed while incorporating a variety of products that complement one another. The consumers find the creativeness packed into recycled yet stylish gift papers by which Bindle is blending both sustainability and style togethe (Bindle, 2016)r. [pic 17]

SUPPLIERS

Bindle has collaborated with Agero