The MWR case study The Business • Business has been running for 11 years • One of the leading personalized gift registry services in operation in Australia • Major competitors: Myer, DJs, Wedding List Co., Wedding Gifts direct, Not another toaster, Wishing Wells • Biggest challenge: attracting new business as the requirement for traditional wedding registries is declining due to an increase in those looking for wishing well or cash contributions • We currently have a showroom in Armadale and a warehouse in Hawthorn. • Armadale retail store pays 150K per year, generating less than 10K in floor retail sales. • No stock, everything is ordered as purchased. • We have 2 website brands: The Melbourne Wedding Registry (for Melbourne couples) and The Wedding Registry (all other states couples) • Our service provides a very hands-on approach where each couple is assigned a dedicated consultant. This consultant provides personalized assistance. • Currently advertising in 3 wedding magazines, Google Adwords, letter dropping to all wedding venues in Melbourne, preferred supplier of many • Currently receive around 1100 signups per annum The Challenge • The business is declining due to customers shifts towards wishing well (cash giving) • Very hard to educate people on how detailed our service is compared to others • The business is very seasonal, with June-October being a very quiet time. Cash flow in this period is limited due to very small number of weddings taking place. Budget and Timeframe: • 100K • 12 months Objective • Gain more market share • Increase conversion rate (currently at 50%)     • Deliver a simple message about the nature of the business: it competes with major stores like Myer but delivers a more personalized service that major stores can never offer • Increase the number of weddings that use this service by 100 • Deal with the seasonality of this industry General Market Analysis • Our brand is strong. Some of the big department stores steal business from us simply because of their coverage. But most customers who used department stores ended up disappointed and let down. • Big department stores have the biggest market share albeit worst technology. • Our online store has been the leader for many years. Although it is dated now, our survey shows couples still like its simplicity and find it easy to use.