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  • Fancy Dreams Case Study

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    Sharad Anand
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    Fancy Dreams is a retail store started by entrepreneur Mr. Rehman 10 years ago that has grown significantly but is now facing challenges. It expanded to multiple locations and product categories, reaching a turnover of 40 crores. However, during the most recent Diwali season, foot traffic fell 20% below estimates. This is causing Mr. Rehman to hire a market research firm. Fancy Dreams is now facing growing competition and needs to update its strategy as its original customer base has aged while their children who visit the store are now in their 20s.

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    Fancy Dreams case study

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    Fancy Dreams is a retail store started by entrepreneur Mr. Rehman 10 years ago that has grown significantly but is now facing challenges. It expanded to multiple locations and product categories, reaching a turnover of 40 crores. However, during the most recent Diwali season, foot traffic fell 20% below estimates. This is causing Mr. Rehman to hire a market research firm. Fancy Dreams is now facing growing competition and needs to update its strategy as its original customer base has aged while their children who visit the store are now in their 20s.

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    Attribution Non-Commercial (BY-NC)
    Scarica in formato PPTX, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    51 visualizzazioni7 pagine

    Fancy Dreams Case Study

    Caricato da

    Sharad Anand
    Fancy Dreams is a retail store started by entrepreneur Mr. Rehman 10 years ago that has grown significantly but is now facing challenges. It expanded to multiple locations and product categories, reaching a turnover of 40 crores. However, during the most recent Diwali season, foot traffic fell 20% below estimates. This is causing Mr. Rehman to hire a market research firm. Fancy Dreams is now facing growing competition and needs to update its strategy as its original customer base has aged while their children who visit the store are now in their 20s.

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    Attribution Non-Commercial (BY-NC)
    Scarica in formato PPTX, PDF, TXT o leggi online su Scribd
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    di 7

    FANCY DREAMS

    Presented by: Anmol Bohre Aparna A Arshe Noor Malavicka C Sharad Anand

    INTRODUCTION
    Revolves around:
    Ashutosh Kant Marketing Manager
    Mr. Rehman The Entrepreneur & CEO of Fancy Dreams.

    Mr. Rehman

    Rehman started off with a garment shop in upmarket in Delhi 10 yrs later following his urge to do something new he started fancy dreams Marketing manager employed by Rehman. After witnessing 20% fall in profits during Diwali decides to hire a market research firm to study the buying pattern and preferences of people walking in the store.

    Ashutosh Kant

    FANCY DREAMS

    Opened in 2 locations in delhi on an area of 10,000 sq. ft. each.


    Promotional tools print media & cable operators Aim was to provide a complete shopping experience for the entire family.

    The 3 storeyed store had mens, womens and a kids section.


    The womens section was given a feminine touch Mens section had polished wood and leather The kid section included garments, toys, books & a play area. Turnover crossed 6 crores within 3 years.

    Competitors with similar formats came up in the early 1990s.


    Fancy store moved ahead adding 200 new categories of products. Expansion in 3 cities raked in a turnover of 40 crores. Manpower rose to 500 in addition to several mgmt and non- mgmt cadres.

    Despite this, the store attracted nearly 40,000 customers during the Diwali season which was almost 20% LESS than their estimates.

    >> Being a market leader they are now faced by growing competition >> Staff now emphasize on sales which is against the idea when Mr Rehman first founded fancy dream >> The customer who made fancy dream a leader now their childrens age is 20+. Fancy dream had to upgrade.

    Identify the relevant major problems & issues in this case

    >> Children are getting bored causing parents to leave store immediately
    >> Due to the above reasons it has lost its exclusiveness leading to a decline in market share

    Improvise on the collection.

    Create unique Brand Image.

    Improvise on childrens play area, include snacks.

    Suggest a Strategy to rectify the problem

    Discounts, membership card etc for customer loyalty

    Educate the customer and not push them to buy. Encourage the customer browse through.

    Utilize kids pester power.

    THANK YOU

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