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BooHoo founders reaping the rewards

BooHoo has been one of the big success stories to come out of the UK fashion industry. ASOS has been the best known fashion company but the relatively quiet achiever has been BooHoo.

The company was started 8 years ago in Manchester and since then it has achieved some extraordinary things and has in the process, made it’s two founders multi-millionaires. The company now has a valuation of over 800 million pounds¬†and is taking the world by storm.

Founded in 2006 by Mahmud Kamani and Carol Kane, the company has started from humble beginnings to now being publicly traded on the stock market.

BooHoo.com is an online only fashion store and offers low priced clothing of it’s own brand only. The target market of the company is youth aged between 16 and 24. The company has achieved a lot of it’s success due to the method at which it releases clothing. New lines are produced and released on a weekly basis keeping it’s offerings new and fresh.

BooHoo also offers frequent promotions such as a BooHoo coupon code to lower prices.

 

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Categories: Business

Dan Murphy’s stranglehold on online market

Woolworths owned Dan Murphy’s is strengthening it’s stranglehold on the online liquor sales market with a huge number of wine additions to it’s Dan Murphy’s connection site. In fact, the number totals over 900 new products which compares to it’s online range of 8200. The connection sites allow Dan Murphy’s online to offer customers wine by consignment, meaning that Dan Murphy’s will not hold the physical inventory but will be a ‘middleman’.

Dan Murphy’s is looking to add approximately 200 new products every day with the aim of reaching a total inventory offering of 20,000 products. Save with a Dan Murphy’s Coupon Code.

There are other sites which offer a similar service such as cracka, however Dan Murphy’s are trying to achieve the outcome at a much larger scale. The products that Dan Murphy’s will target includes craft beers, artisan distillers and boutique wines.

The commission it will charge to suppliers is a flat 25% plus GST and a monthly fee of $49. This allows smaller suppliers to have the opportunity to be a part of the biggest online liquor site in Australia.

 

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Categories: Business

How to build a successful online retail store

The internet has offered so many opportunities for savvy business people to build a low cost business online. The advantages of an internet based store is that you can be based anywhere in the Australia and have the entire Australian population as your potential customer. However, depending on what area of retail you are in, you may be going up against hundreds and even thousands of other competitors. These competitors are often backed by a huge amount of funding and competing with the could be difficult.

You may not have the budget to compete, but you can potentially have the know how to ensure you can attract customers, retain them, and attract more customers through your retained customers. The key to achieving theses successes are straight forward but can be difficult to implement.

The first key to success is ensuring you have great customer service. Customer service makes your buyers feel like they have someone on the other side caring about their experience. Without this they will not connect with you.

Secondly, provide a good range of product and have as much inventory available as possible to avoid disappointing customers when they try to buy something. Many stores such as ASOS and The Iconic, have thousands of their products available.

Finally, have an attractive offer which will lure customers into their first purchase. This can be achieved by offering a free shipping coupon or a discount coupon. Many online stores offer this as an incentive such as Dissh who offer their new shoppers a Dissh coupon for their first purchase.

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Categories: Business