Task 1. Market analysis: An evaluation of the market data, the social behaviours towards sharing economy initiatives, identification of the “early adopters” for OWANDBO and in depth consideration of the most relevant urban areas to initiate the international growth of OWANDBO was conducted. We identified 4 target cities within Europe, and two more in the US. Taking into consideration both attractiveness and addressability for a young and growing company like OWANDBO, we have established to begin the international growth with London, Paris and Berlin. Afterwards, we will capitalize on the experience in these cities to enter the main cities in US (New York and San Francisco), as an enabler of growth through brand recognition.
Task 2. Analysis of pilot experience: The feedback from the end users proved there is market interest to engage with the specific service OWANDBO provides within the sharing economy. Moreover, we found that users are excited to explore additional categories (other than clothing) with OWANDBO and pointed out “household & electronics” (thermomix and projectors amongst the most cited) and “travel & outdoors” (go pro cameras and extreme cold sleeping bags cited the most) as the most interesting categories for OWANDBO to enable next
Task 3. Specific requirements and system improvement: we compiled a new product development specification. We have aligned our objective to build a strong community of end users with our product design and value proposition. Based on the features to integrate into the product, we have a clear picture of the next technical steps that were incorporated to the work plan for the next 18 months
Task 4. Business plan: we developed the commercial strategy based in building growth within urban areas, targeting first specific neighbourhoods and growing radially from there. The business plan includes entering the market through the initially identified cities in Europe and US, establishing wholly owned subsidiaries in each city and recruiting personnel to manage the online and offline activities.
Task 5. Environmental footprint analysis: we evaluated the best way to quantify the impact that our end users will be making through the use of OWANDBO.
Task 6. Financial plan: Having analysed the market conditions and growth strategy, we have determined that OWANDBO will reach turnover figures of over €53M per year after 5 years in the market.
Task 7. IP regulation and strategy: This task is intended to exactly define and design the strategy that protects our product and knowledge from being used or copied by other players, as well as reviewing the potential constraints that we could face in form of regulatory issues. We will protect the image of the platform. At this stage the most relevant regulations are those related to e-commerce platforms and data protection regulations in each country we intend to operate
Task 8. Work plan for phase 2: This task of the feasibility study focused in preparing a complete plan to achieving. 1) the technical solution as per the requirements gathered through the execution; 2) the initial steps in our strategy to build growth in urban areas of Europe and USA.
