Trendy Thread is a medium-sized, growing retail company. It was founded five years ago by a group of fashion enthusiasts who identified a gap in the market for affordable, trendy clothing that caters to a diverse range of customers. Since then, Trendy Threads has grown rapidly, expanding its product range and customer base.
The company provides a wide range of fashion products, including clothing, shoes, and accessories, for men, women, and children. Its product line is designed to cater to a diverse range of customers, including fashion-conscious millennials, working professionals, and families. The company is committed to offering high-quality products at affordable prices, making fashion accessible to everyone.
Trendy Threads has established a strong online presence, with a user-friendly e-commerce platform that allows customers to shop for products easily and conveniently. The company has also opened several physical stores across the country, providing customers with a seamless shopping experience both online and offline.
Financially, Trendy Threads has been performing well, with steady revenue growth over the past few years. In the last financial year, the company generated $50 million in revenue, with a net profit margin of 10%. The company has been able to achieve this growth by leveraging technology, optimizing its supply chain, and investing in marketing and branding initiatives to attract and retain customers.
As Trendy Threads continues to grow, it is looking to leverage design thinking to drive innovation around sales and marketing, as well as revenue and profit growth. The company recognizes the importance of staying customer-centric in its approach, and design thinking provides an effective framework for achieving this goal.
You have been appointed as a consultant by Trendy Threads to work on their empathy process. To conduct research on customers, Trendy Threads is considering a 5-step method, but it is unsure of how to implement each step. The steps are listed below together with a description of what each step should achieve.
