How will you Market your strategy and or Re-launch the business through a Marketing and Promotion plan! ( ways of promoting the brand, social media, events, tv)
Our strategy for Dick’s Sporting Goods is to become more involved in the women’s swimwear department, expand their private label swimwear, and to reach out to a popular online retailer that specializes in trendy women’s swimwear. Especially one that is also involved in sustainability with an online presence, so that Dick’s Sporting Goods can spread its presence as well without spending too much on advertising. A brand for example is Hoaka Swimwear that specializes in swimwear for all genders and children too, that also have their own sustainability collection which can help promote sustainability within Dick’s Sporting Goods as well. Although we recommend to start collaborating with Hoaka Swimwear in the women’s department, this will just be a start, and from there forward we can implement the other swimwear line for men and children. When collaborating, we would include the brand products online and in Dick’s Sporting Goods stores. By adding it into brick-and-mortar stores will give the brand an opportunity for their consumers to purchase their items and to use all their five senses, which is important for consumers when it comes to shopping. In addition, this will increase Dick’s Sporting Goods online presence with the help of the online brands, as well as connecting and becoming more involved with a new trendier market. Swimwear will always be year round because of traveling and that summer happens every year, so there is nothing temporary or seasonal with this strategy, it will remain consistent. Thus, with the market size valuing it at $81.73 billion in 2021 with a projection of $148.32 billion by 2031, a CAGR of 6.4%, more specifically $222,756,737 increase in women’s swimwear revenue by 2033.
(Women Sports And Swimwear Market Research, 2031)
https://www.alliedmarketresearch.com/women-sports-and-swimwear-market-A16905