GROUP 1

WEX Project

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Team Member
Đặng Hoàng Anh BABAWE17406
Võ Thành An BABAWE18140
Lê Hoàng Anh BABAWE17209
Đỗ Quốc Bảo BABAWE18513
Võ Ngọc Trân Châu BABAIU18027
Lê Thị Ngọc Duyên BABAWE17093
Từ Mỹ Duyên BABAWE17493
Trần Ngọc Phương Dung BABAWE18633

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 OUTLINE
1. Who we are?

2. Product mix definition

3. Operation procedures

4. Marketing strategy
5. Financial projection
6. Risk management

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I. WHO WE ARE?
WEX – We Exchange Ex-clothes Together

COMPANY INTRODUCTION:
Wex is a start-up company aims to develop an e-commerce platform for everyone to buy
and sell their old clothes from Vietnam local brand stores. Wex also brings customers
exceptional experiences in using high-quality and fashionable second-hand clothes provided
by Wex Trading – Wex official online store.

COMPANY HISTORY:
Wex was established in 2021 by a group of eight inspired IU students who aim to spread
inspiration of second- hand clothing using, develop second-hand clothing industry and
contribute our efforts to make Vietnam a better place. Over time Wex has developed and
become one of leading used clothes e-commerce platform try best to satisfy customers.

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I. WHO WE ARE?
MISSION
Wex aims to change people's thoughts and spread inspiration about second-hand
clothing using. We make it easier and affordable for everyone to consume what they like.

VISION
To be the leading e-commerce platforms bringing exceptional experience for everybody in
second- hand clothing using.

CORE VALUE
Responsibility – Quality - Openness

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I. WHO WE ARE?
EXECUTIVE TEAM WEX CSR

Wex commit to save resources as much as possible,

not discharge wastes to environment, launch and take
part in some environment-protecting programs every
year.

Wex also launch some social charity programs by

donating clothes from Wex Trading for children in
rural and moutainous area regularly each 3 months.

Wex also makes sure the employee policies is

reasonable. Wex wants every employee is happy to
work at Wex and proud to be a part of Wex
corporation.

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 II. PRODUCT MIX DEFINITION
WEX’S TARGET CUSTOMER
YOUNG PEOPLE SHOPAHOLIC
Have high demand to sell off used clothes due to their
Age range 18 – 25 years old hobby of buying too much
Income level < 10 million VND
Is Wex’s potential customers who want to use our
service as providing space for selling online.
Gender Male, Female

Occupation Office staff MINIMALIST

Student
Housewife Sell their existing items to buy more new items according
to the principle of “one in one out”
Hobby Shopping
They want to save money and also save the environment
Surfing social media
by decreasing the amount of wastes.
Gossiping

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II. PRODUCT MIX DEFINITION
WEX’S COMPETITORS

Small second hand stores selling offline and online on social media like Facebook,
Instagram in all provinces around Vietnam: Give Away, 2nd Chance, Consignista Saigon
DIRECT COMPETITORS
Second-hand stores selling old clothes on other popular e-commerce platforms like
Shopee, Lazada, Sendo.

Those competitors sell old clothes, bags, ... from high-end and foreign brands with
POTENTIAL COMPETITORS lower prices which meet the requirement of consuming high-end products of
customers. Some of them are: Myn Vân, Hieu Authentic Tos, ...

Some websites that offer platform for customers to trade any second-hand products
INDIRECT COMPETITORS such as furniture, clothes, electronic devices, etc. Some indirect competitors are:
Thanhlydocu.net.vn, Chodocu.com

They are large company who are likely to enter the market to expand their market
FUTURE COMPETITORS share. Those are some other popular e-commerce platforms such as Shopee, Lazada,
Sendo
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II. PRODUCT MIX DEFINITION
WEX’S COMPETITORS COMPARATION

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II. PRODUCT MIX DEFINITION
WHAT MAKE US DIFFERENT?

Wex Trading Extra service of fixing old clothes depedning on customer’s requirement

• Just focus on trading used clothes from Vietnamese local brands.

• Allow our customers to check their orders and return to the sellers immediately if
the quality is low or wrong size, color.
Wex Website
• Provide blogs to guide customers about trend in fashion and update current situation
about covid pandemic

• Develop technology in shape matching to give customers recommendations about

some clothes matching their body shape based on 4 basic type: Apple, Rectangle,
Pear, Hourglass shape. 10
III. OPERATION PROCEDURE
Payment method Delivery method
Outsource third-party to help us deliver orders to
For buyers customers.
• Debit/ Credit card Up to now, Wex has 3 main partners taking charge of
delivering orders to customers:
• Online payment providers: Momo, Airpay Giaohangtietkiem, Giaohangnhanh and J&T Express.
• COD
Delivery time for each order will be shown right after
the time customers place their order from Monday –
For sellers
Sunday excluding Public Holidays
• Debit card
Urban area: 2-3 days
• Transfered at 25th each month Rural area: 5-7 days

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III. OPERATION PROCEDURE
Inventory Equipment
Wex rent a 300m2 warehouse to store 50 Pallet racks 10 Hand trucks 5 Ladders
second-hand clothes for Wex Trading
50 Bulk boxes 5 Banding Equipment Others
Address
30 Đỗ Xuân Hợp, Phước Long A ward,
District 9, Ho Chi Minh City.

Warehouse capacity: 10000 units

Personnel
Suppliers: consignment stores, local
brands, and customers who
want to sell their used clothes.

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IV. MARKETING STRATEGY
Market analysis
Vietnam’s population is nearly 100 million and expands up to 120 million in 2050 (the World Bank, 2021). Vietnam is a country
having young population (more than 50 percent of population is under 35 years old). In addition, aesthetic demand for wearing the
latest fashion styles tends to increase rapidly among young people.

Value proposition
Common problem among target customers: What Wex offers to solve those problems: Value consumers will get:

• Young people have low budget to buy a
new piece of clothes.
• Customers may have some unhappy
experiences such as lost money, clothes
and their trust on shopping online.
• They usually wonder if this clothes can
fit with their body.
• Used clothes with affordable price and high
quality retained
• Free shipping with orders more than 399
thousand VND.
• Return and refund policy in case of product
lost, low-quality products.
• High technology for users to choose the most
suitable clothes fitting their body shape.
“Wex brings you the exceptional experiences in
second-hand clothes using”
• Fashionable products with local brands
recognition.
• Satisfaction with both products’ quality and
Wex’s customer services.
• Feeling of contribution to environmental
protection.

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IV. MARKETING STRATEGY
How we price our products & service?
Wex trading: we only take second-hand clothes with quality retain above 95% and not out of fashion. We purchase them at the price
of 70% the price tag then sell those clothes at a price of 80 - 85% of price tag (which means we get profit of 10 - 15% per unit).

Wex website: we charge 10% for each transaction between our users with conditions that both of them have to comply with our
policy provided on the website.

Pricing Strategy – Wex Trading

• Wex apply “left-digit effect” to set all prices from Wex Trading end with number 9 to attract customers.

• Wex also use Penetration Pricing in which the price is set artificially low to gain market share quickly

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IV. MARKETING STRATEGY
Advertising & Promotion
Promotion Strategy
Advertising Strategy
• Social media promotion:
Run ads, share blog through social networks: Provide promotion code on through our fanpage on Facebook,
Facebook, Instagram, Zalo, and some online
payment providers like Momo, Airpay
Instagram and Twitter to attract more customers to keep track
Social media and follow our activities.
marketing Collaborate with KOLs and influencers to create
viral and meaningful TVC • Mail order promotion:
Send promotion code for loyal customers who have more than
Promotes our ads to some search engine such 5 orders per month to their email
SEM as Google, Safari, Microsoft Edge

Wex also launchs sale events every season like New year,
Collect customers’ preferences information
Database to promote our sales by automatically
Christmas, Women’s day, etc applying the loss aversion
marketing sending the most personalized ads to behavior by using a countdown clock and set the sale time to
customers. encourage customers to buy our products as soon as possible.

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IV. MARKETING STRATEGY
Hidden assumption test
Step 1
Wex’s assumption Conduct a survey to examine customers’ opinions about
second-hand clothes using and affordable prices to them
• Customers like to wear used clothes ………………………………………………………...
• Customers will buy used clothes from us

• Our price is reasonable and affordable

Step 2
How Wex test
Run an program asking customers to experience our
• Our website is attractive and easy-to-use products’ quality and our website through social media
our assumptions posts, ask them to do our survey to see how they react
• Wex determines right target customers
with our company.
• Wex can maintain the quality of products ………………………………………………………...
well
Step 3
Gather survey to get information about customer
preference, compare them with our assumption and
adjust our plan to fit with customer need.
………………………………………………………...
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IV. MARKETING STRATEGY
Hidden assumption test

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V. FINANCIAL PROJECTION • Minimum profit for investors
after 5 years: $112,118

• Minimum profit percentage for

investors after 5 years: 40%

ROI = 22%

SEEKING $100k for 25% Stake

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VI. RISK MANAGEMENT

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APPENDICE

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REFERENCES
1. 4 Type of Marketing and Strategies, David Stewart, May 06th, 2020. Retrieved from
https://www.brandingstrategyinsider.com/4-types-of-marketing-plans-
andstrategies/#.YLXrWpMzau4

2. Successful Corporate Social Responsibility, Digital Marketing Institute, Feb 25th, 2019. Retrieved
from
https://digitalmarketinginstitute.com/blog/corporate-16-brands-doing-corporate-social-
responsibility- successfully

3. Risk management for startups, Fullstack, Nov 15th, 2019. Retrieved from
https://www.fullstack.com.au/risk-management-for-startups-anticipate-and-manage-risks/

4. Promotion strategy, Carlos Trillo, May 18th, 2021. Retrieved from

https://www.evinex.com/promotion-strategy/

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THANKS FOR YOUR LISTENING

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