What! Buy a Wig I can do that.
I want to create a proposal for an App that helps people buy Wigs which are defined “as a manufactured covering of natural or synthetic hair for the head”. I had a friend traveling to another country who had a 12 hour, layover and she had a few hours to purchase stuff. I offered to help but she wanted to go across town to purchase some Wigs near my location. It would have been easier for me to purchase and meet her at the airport, while she carried on with other purchases, but she needed to try and fit the Wigs. Obviously I don’t know anything about wigs hence this naïve proposal. It did inspire me to solutionise after she turned me down. I discovered that there are other considerations when buying a wig such as: 1.Wig Type : Synthetic, Human Hair, Hybrid Wigs 2. Wig Style. Cap Construction. 4. Wig Size. 5. Color. 6. Hair Density. 7. Hair Quality. 8. Maintenance 9. Budget. 10. Wig Brand and Retailer. 11. Try-On and Fit 12. Wig Cap Materia.l 13. Purpose. 15. Heat Resistance .16. Return and Exchange Policy. 17. Accessories. and 18. Consultation and this is not an exhastive list. In the summary of this proposal I provided a list of how the App might meet some of this criteria and I have also defined this criteria in the appendices. The importance of conducting extensive User research (“The process of understanding the needs, behaviors, and attitudes of users to inform the design and development of products or services”). And conducting this User research with the target audience; Wig buyers, manufacturers and retailers, etc cannot be overstated (Identify stakeholders and analyse, user needs\ journeys, process modeling, value analysis etc). Perform a trend analysis of Wigs as a social phenomenon and business in social media. Identify and analyse the use cases of wig buying segments\minority groups who have different usage\expectation\outcomes as a consideration. This is a one hour Post: Write, Edit and Submit, so this proposal will have implicit process gaps.
Preamble:
“The global hair wigs and extensions market size was valued at USD 6.46 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. Wigs have become a major driving force in fostering self-confidence and enhancing aesthetics, enabling remarkable transformations. They empower individuals to freely express themselves and explore various styles without any permanent changes. The surge of social media platforms such as Instagram and TikTok has ignited a wave of wig-related content, with renowned hairstylists divulging their styling tips and tricks. As a result, people are now more open to experimenting with vibrant colors and diverse styles, embracing the endless possibilities offered by hair wigs and extensions”. Report Overview: https://www.grandviewresearch.com/industry-analysis/hair-wigs-extensions-market-report .this is collaborated here: linkedin.com, polarismarketresearch.com ,factmr.com. This might qualify as an industry Precursor business that paves the way for the emergence and growth of a particular industry see an example: Internet Precursor alternatively see appendices: Precursor.
Proposal outline
CrownChic (chosen place holder name) will need to use the input from Mobile apps or three D scanners which take a 3d model of the head which enables customers to try various wigs and hairstyles and colours with a 360 degree view. They can order the wigs online or through the app.
It would need a service where people can get their head scanned as a free one off \ walking in service and it would need Wig manufactureres to provide an inverntory of Wigs designed for or appropriate (with details) for the service . It can also be used for bespoke wig services. The development of affordable hand held 3d scanners will impove the service central-scanning.co.uk , 3dnatives.com. The process an involve the creation of free 3d scanning booths at various location or collaboration with 3d scanning services. It might also enable the rental of 3d scanners by retailers to provide these services. It might need a sponsored or coupon\ voucher process in place for customers to utilise these sevices. There are styling apps on mobile devices that use the cameras. But the extra mile or USP (Unique Selling Proosition) is :Service, Availability, Useability: 360 view, precision \ bespoke fitting and purchase\ order fullfilment. The consideration of the App as a platform for ochestrating a new industry paradigm should not be underestimated.
SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis for the Wig Buying App Proposal:
Strengths:
1. Growing Market: The global hair wigs and extensions market is valued at USD 6.46 billion in 2022 and is expected to continue growing at a CAGR of 8.4%, indicating a substantial market opportunity.
2. Self-Expression: The app aligns with the trend of people using wigs to express themselves and experiment with different styles and colors.
3. Technology Integration: Using mobile apps and 3D scanning technology to offer a virtual try-on experience is innovative and aligns with the latest technology trends.
4. Versatility: The proposal mentions the potential for both inventory-based wig sales and bespoke wig services, catering to a wide range of customer needs.
5. Rental Option: The proposal suggests the possibility of retailers renting 3D scanners, creating additional revenue streams.
Weaknesses:
1. Naivety: The proposer admits to having limited knowledge about wigs, which could lead to a lack of understanding of the industry’s nuances and challenges.
2. Costs: Developing the technology and securing partnerships with manufacturers might require substantial investment.
3. Competitive Market: The wig industry is competitive, with many established brands and retailers already offering online sales.
Opportunities:
1. Market Growth: The continuously growing market presents opportunities for new entrants to capture market share.
2. Innovation: The proposal introduces a novel concept of 3D head modeling and virtual try-on for wigs, which can differentiate the app from competitors.
3. Rental Service: The possibility of renting 3D scanners can create additional revenue streams and partnerships with retailers.
4. Sponsorship and Coupons: Implementing sponsored or coupon/voucher systems can attract customers and generate revenue through partnerships with wig manufacturers.
Threats:
1. Competition: Existing players in the market may already have a strong customer base and brand recognition.
2. Technology Challenges: Developing and maintaining 3D scanning technology can be complex and costly.
3. Intellectual Property: Protecting the technology and securing partnerships with manufacturers may involve legal and intellectual property challenges.
4. Market Saturation: The market might become saturated with similar apps, making it harder to stand out.
PESTLE (Political, Economic, Social, Technological, Environmental, Legal) Analysis:
Political:
1. Regulatory Compliance: The app must comply with regulations related to consumer protection and privacy.
2. Import/Export Regulations: If working with international manufacturers, trade regulations could affect the supply chain.
Economic:
1. Market Size: The growing market size is a positive economic factor for the proposal.
2. Investment and Funding: Access to capital will be crucial for app development and marketing.
3. Economic Downturn: Economic recessions could impact consumer spending on non-essential items like wigs.
Social:
1. Social Media Influence: The influence of platforms like Instagram and TikTok on wig-related content is a social trend that can drive app adoption.
2. Self-Expression: The social trend of using wigs for self-expression is an opportunity for the app.
3. Beauty and Aesthetics: The app aligns with societal interest in beauty and aesthetics.
Technological:
1. 3D Scanning Technology: Developing and maintaining 3D scanning technology is a significant technological challenge.
2. Mobile App Development: App development and user experience will be critical for the success of the proposal.
Environmental:
1. Sustainable Manufacturing: Consideration of eco-friendly and sustainable wig manufacturing may be a growing trend in the industry.
Legal:
1. Intellectual Property Rights: Protecting the technology and ensuring compliance with patent and copyright laws is essential.
2. Privacy and Data Protection: Compliance with data protection laws and user privacy is a legal requirement.
3. Consumer Rights: Adherence to consumer protection laws is crucial in this proposal.
Summary
In order to validate above it is worth carrying out further reserch. I would be surpprised if this dosent exist the question to answer are: opportunity, market size and channels. As I said before there are styling apps that use the mobile phone but the extra mile or USP is : 360 view, precision,bespoke fitting and purchase\ order fullfilment. The app must meet the essential considerations from this list as stated earlier: 1. Wig Type : Synthetic Wigs, Human Hair Wigs, Hybrid Wigs 2. Wig Style . Cap Construction 4. Wig Size 5. Color 6. Hair Density 7. Hair Quality 8. Maintenance 9. Budget 10. Wig Brand and Retailer 11. Try-On and Fit 12. Wig Cap Material 13. Purpose 15. Heat Resistance 16. Return and Exchange Policy 17. Accessories 18. Consultation. I have provided some answers below but it needs need further analysis.
An App coupled with 3D scans for head size and shape, along with active participation from the wig industry, customer feedback, and integration with social media,\ wig user communities can meet the criteria for buying a wig. Here’s how this system can address each of the criteria (see appendices for breakdown of the criteria):
- Wig Type – Synthetic Wigs, Human Hair Wigs, Hybrid Wigs: The app can provide a comprehensive catalog of both synthetic and human hair wigs, allowing users to browse and choose based on their preferences. Creation of hair type swatches can accelerate adoption.
- Wig Style – Cap Construction: Users can explore various wig styles, including different cap constructions (e.g., full lace, lace front, monofilament) to find the style that suits them best.
- Wig Size: The 3D scanning technology ensures a customized fit by accurately measuring the user’s head size and shape, guaranteeing a secure and comfortable fit.
- Color: The app can offer a wide range of wig colors, allowing users to experiment with different shades and find the perfect color.
- Hair Density: Users can choose wigs with different hair densities to achieve their desired look, whether it’s natural or voluminous. Creation of free hair type swatches can accelerate adoption.
- Hair Quality: Information about the quality of the hair, especially for human hair wigs, can be provided to help users make informed choices. Creation of hair type swatches can accelerate adoption.
- Maintenance: The app can offer guidance and recommendations for wig maintenance, ensuring users can care for their wigs properly.
- Budget: Users can filter wigs based on their budget, making it easy to find options that match their price range.
- Wig Brand and Retailer: Users can explore wigs from various brands and retailers, allowing them to choose reputable sources for their wig purchases.
- Try-On and Fit: The 3D scanning technology provides an accurate fit, and users can virtually try on wigs to assess their appearance and comfort.
- Wig Cap Material: Information about the material used in wig caps can be included, helping users choose caps that align with their comfort preferences. Creation of hair type swatches can accelerate adoption.
- Purpose: The app can provide guidance on selecting wigs for different purposes, whether it’s for daily wear, special occasions, or medical reasons.
- Heat Resistance: Details on whether wigs are heat-resistant or not can be included for users interested in styling options.
- Return and Exchange Policy: The app can display information about return and exchange policies of different brands and retailers, ensuring users are aware of their options.
- Accessories: Users can find recommendations for wig accessories such as wig caps, wig stands, and brushes to maintain and style their wigs effectively.
- Consultation: The app can provide resources for users seeking consultations, especially for those with medical hair loss, connecting them with specialists or healthcare professionals. A future development might be an in-App interactive service with specialists or healthcare professionals especially as the can view the head scan and visually communicate with the user.
By integrating these features into the app and fostering industry participation, the platform can offer a comprehensive and user-friendly solution for buying wigs while addressing all the criteria effectively. I have created an outline business plan in the appendices
Appendices
1. Links and notes:
-How to Measure for a Wig https://www.simplywigs.co.uk/blog/wig-size-guide/
-Finding Your Ideal Wig Size: A Step-by-Step Guide https://aderansuk.com/blog/finding-your-ideal-wig-size.
-For fun alternative names: here are some alternative names for the Wig shopping app:
1. WigWonders, 2. WigTryOn360 3. WigStylePro 4. VirtualWigShop 5. WigSavvy 6. WigWorld 7. GlamWigHub 8. WigMagic 9. StyleMeWigs 10. VirtualHairGuru 11. WigsElegance 12. WigTrendset 13. WigYourWay 14. WigPalace 15. WigFusion 16. StyleMyStrands 17. CrownChic (I have used this)18. ManeMosaic 19. LocksUnlimited20. VirtuWig.
These names incorporate elements of style, fashion, technology, and the virtual try-on experience, which align with the essence of the app. Alternatively do not reference Wigs as their might be social acceptance\ advertising considerations. Choose the one that best resonates with your brand and target audience.
2. Industry precursors,
Also known as “precursor industries,” refer to the sectors or businesses that pave the way for the emergence and growth of a particular industry. These precursor industries create a foundation or provide essential components, technologies, or services that are integral to the development and success of the target industry. They often serve as the building blocks upon which a new industry can thrive.
The relationship between precursor industries and the emerging industry can be characterized by several key factors:
- Supply Chain : Precursor industries may provide raw materials, components, or intermediaries required for the production or operation of the emerging industry’s products or services.
- Technological Advancements : They may develop or introduce new technologies and innovations that later become critical in the emerging industry.
- Market Demand : Precursor industries may gauge market demand or consumer preferences, leading to the identification of opportunities for the emerging industry.
- Infrastructure and Services : They may establish infrastructure, logistics, and support services necessary for the efficient functioning of the emerging industry.
- Knowledge Transfer : Precursor industries often transfer knowledge, expertise, and skilled labor to the emerging industry, contributing to its growth and development.
- Regulatory and Legal Frameworks : Precursor industries can influence the development of regulatory and legal frameworks that govern the emerging industry.
For example, the automotive industry relies on various precursor industries, such as steel production for vehicle manufacturing, semiconductor manufacturing for vehicle electronics, and tire production. Similarly, the growth of the electric vehicle (EV) industry is linked to precursor industries involved in battery manufacturing and renewable energy production.
Understanding precursor industries is essential for businesses and policymakers, as it helps identify opportunities for collaboration, innovation, and investment in emerging sectors. By recognizing the influence of precursor industries, organizations can make strategic decisions that enhance their competitiveness and adapt to changing market dynamics.
3. Considerations for buying a Wig
When buying a wig, there are several important considerations to ensure you choose the right wig that suits your needs, style, and preferences. Here are some key factors to keep in mind:
1. Wig Type : Synthetic Wigs: These are pre-styled and more affordable. They require less maintenance but have a shorter lifespan. Human Hair Wigs: Made from real human hair, these wigs offer a natural look and can be styled like real hair. Hybrid of both Wig types
3. Cap Construction : Choose between various cap types, including full lace, lace front, monofilament, and traditional caps, each offering different levels of comfort and realism.
2. Wig Style : Consider the length, texture, and style of the wig that complements your face shape and personal style.
4. Wig Size : Ensure you select the right wig size that fits securely on your head without being too tight or too loose.
5. Color : Select a wig color that matches your natural hair color or experiment with new shades to find the perfect look.
6. Hair Density : Decide on the hair density (how thick or thin the hair appears) based on your preference for a natural or voluminous look.
7. Hair Quality : If choosing a human hair wig, consider the quality of the hair, such as Remy (cuticles intact) or non-Remy (cuticles removed) hair.
8. Maintenance : Synthetic wigs require less maintenance, while human hair wigs demand more care and styling.
9. Budget : Set a budget for your wig purchase to help narrow down your options.
10. Wig Brand and Retailer : Buy from reputable wig brands or retailers with a history of providing quality wigs and excellent customer service.
11. Try-On and Fit : If possible, try on the wig to ensure a comfortable and secure fit. Adjust the wig to your head shape and size.
12. Wig Cap Material : The material of the wig cap can affect comfort and breathability. Choose a cap material that suits your needs.
13. Purpose : Consider the purpose of the wig, whether for everyday wear, special occasions, or medical reasons.
14. Face Shape : Select a wig style that complements your face shape. Different styles may enhance or soften your features.
15. Heat Resistance : If you plan to use heat styling tools, check whether the wig is heat-resistant.
16. Return and Exchange Policy : Ensure the retailer offers a return or exchange policy in case the wig doesn’t meet your expectations.
17. Accessories : Purchase accessories like wig caps, wig stands, and brushes to maintain and style your wig.
18. Consultation : If you have medical hair loss, consider consulting with a wig specialist or a healthcare professional for guidance.
By considering these factors, an informed decision can be made that best suits style, comfort, and specific needs.
4. Business Plan outline for “CrownChic” App
Table of Contents
1. Executive Summary
2. Business Description
3. Market Analysis
4. Product and Service
5. Marketing and Sales Strategy
6. Competitive Analysis
7. Operations Plan
8. Management and Team
9. Financial Projections
10. Risk Assessment
11. Conclusion
1. Executive Summary
” CrownChic” aims to revolutionize the wig industry with an innovative mobile app that leverages 3D scanning technology to provide customers with an immersive wig shopping experience. This business plan outlines our strategy to capture a share of the growing global hair wigs and extensions market, valued at USD 6.46 billion in 2022, with a projected CAGR of 8.4% from 2023 to 2030. The app will enable customers to virtually try on wigs, order them online, and even offer a free in-person head scanning service. Our plan also includes the possibility of renting 3D scanners to retailers, sponsored opportunities, and coupon/voucher systems to attract and retain customers.
2. Business Description
2.1 Vision and Mission
Vision: To empower individuals to express themselves and explore diverse styles through an immersive, user-friendly wig shopping experience.
Mission: To redefine the wig industry by offering a revolutionary mobile app that combines technology and fashion to make wig shopping accessible, convenient, and enjoyable.
2.2 Business Goals
– Capture a significant share of the global wig market.
– Develop partnerships with reputable wig manufacturers.
– Ensure a user-friendly and immersive shopping experience.
– Establish brand recognition in the beauty and fashion industry.
3. Market Analysis
3.1 Market Size
The global hair wigs and extensions market was valued at USD 6.46 billion in 2022 and is projected to grow at a CAGR of 8.4% from 2023 to 2030.
3.2 Market Trends
– Growing self-expression through wigs.
– Increasing influence of social media on beauty and fashion trends.
– A shift towards eco-friendly and sustainable wig manufacturing.
3.3 Target Audience
– Individuals seeking self-expression through wigs.
– Fashion enthusiasts.
– Those looking for a convenient wig shopping experience.
– Retailers interested in 3D scanning technology.
4. Product and Service
4.1 ” CrownChic ” App Features
– 3D scanning technology for virtual wig try-ons.
– Online wig store for easy purchases.
– In-person head scanning service.
– A comprehensive inventory of wigs.
– Possibility of bespoke wig services.
– Rental of 3D scanners to retailers.
– Sponsored and coupon/voucher opportunities.
5. Marketing and Sales Strategy
5.1 Marketing Approach
– Utilize social media platforms for promotion.
– Collaborate with influencers and beauty experts.
– Run targeted online advertising campaigns.
– Attend beauty and fashion events.
– Engage in content marketing.
5.2 Sales Approach
– Offer free in-person head scanning service at select locations.
– Provide exceptional customer support.
– Collaborate with retailers for 3D scanner rentals.
-Collaboration with wig manufacturers
-Order fullfilment
-Branding
-Inventory
– Attract customers through sponsored and coupon/voucher systems.
6. Competitive Analysis
6.1 Key Competitors
– Established wig retailers and manufacturers.
– Other wig shopping apps.
– Traditional brick-and-mortar wig stores.
6.2 Competitive Advantages
– Innovative 3D scanning technology.
– A comprehensive and diverse wig inventory.
– A user-friendly and immersive shopping experience.
– Rental of 3D scanners to retailers.
– Sponsored and coupon/voucher opportunities.
7. Operations Plan
7.1 Technology Development
– Develop and maintain the ” CrownChic ” mobile app.
– Collaborate with 3D scanning technology providers.
– Ensure a secure and user-friendly platform.
7.2 Inventory Management
– Establish partnerships with wig manufacturers.
– Maintain a diverse and detailed wig inventory.
7.3 Customer Service
– Provide outstanding customer support.
– Offer the in-person head scanning service at select locations.
8. Management and Team
– [Your Name, Your Title]
– [Team Member 1, Title]
– [Team Member 2, Title]
9. Financial Projections
9.1 Startup Costs
– App development, marketing, and operational expenses.
– Partnerships and technology acquisition.
9.2 Revenue Projections
– Projected revenue based on market analysis and sales approach.
10. Risk Assessment
– Competition and market saturation.
– Technology challenges and development costs.
– Legal and regulatory compliance.
– Economic downturn affecting consumer spending.
11. Conclusion
The ” CrownChic ” app represents an innovative and forward-thinking approach to wig shopping in a rapidly growing market. We are committed to providing an immersive and user-friendly experience that empowers individuals to express themselves through wigs. With the right resources and support, we believe this venture has the potential to become a major player in the beauty and fashion industry.
