Create an ERD Diagram$/$ Data Model for EcoChic.

Overview

$$coChic is a start$-$up IT company focused on sustainability in the fashion industry. Founded by four BCIT students, $$coChic operates a cloud$-$based web platform enabling users to manage their wardrobes, receive outfit suggestions, and engage with a supportive community to embrace sustainable fashion practices.

Objectives

Develop a business model canvas $($October $2024).$

Launch a responsive web application $($May $2024).$

Implement a backend database for wardrobe item management.

Official launch by May $2025.$

Mission

To empower users to adopt sustainable fashion practices by maximizing their existing wardrobe while fostering a stylish and supportive community.

Keys to Success

Cost$-$effective and automated framework.

User$-$friendly interface.

Integration of sustainability practices.

High profit margins.

Products and Services

$$coChic provides:

Wardrobe Management: Users upload photos of their wardrobe items and receive outfit suggestions.

Sustainability Features: Encourages eco$-$friendly shopping and shares tips.

Community Engagement: Social platform for feedback and interaction.

Competitive Edge

Unlike competitors $($e$.$g$.,$ ClosetSpace, Stylebook$),$coChic prioritizes sustainability and community engagement. It offers unique features like outfit sharing, eco$-$tips, and partnerships with sustainable brands.

Future Plans

Mobile apps for iOS and Android.

AI$-$driven personal stylist.

Community$-$driven virtual events $($e$.$g$.,$ sustainability webinars$).$

Market Analysis

The sustainable fashion market is expected to grow from $$7\mathrm{.}6$B in $2023$ to $$33\mathrm{.}1$B in $2033,$ with a $22\mathrm{.}9\%$ CAGR.

Target consumers include Gen Z and sustainability$-$conscious individuals willing to pay premiums for eco$-$friendly solutions.

$$coChic addresses gaps where consumers struggle to access or verify sustainable options.

Strategy

Value Proposition: Simplifies outfit planning, enhances wardrobe utility, and promotes eco$-$friendly choices.

Marketing: Leverages social media campaigns, influencer collaborations, eco$-$brand partnerships, and content marketing.

Pricing: Freemium model with a $$4\mathrm{.}99/$month premium subscription.

Revenue Streams: Subscriptions and eco$-$friendly brand advertisements.

Operations and Financial Plan

Virtual operations with web hosting and payment systems via HostWinds and PayPal, respectively.

Estimated monthly operating cost: $$25\mathrm{.}05.$

$50\%$ of profits reinvested in marketing efforts.

Team

Four BCIT students share equal ownership and manage all aspects of the business.

This plan highlights $$coChic$$s focus on community engagement, sustainability, and innovative solutions to capitalize on the growing eco$-$conscious fashion market.