Briefly explain your business/business concept and the problem it aims to solve:
WINDOW SHOP LONDON’S HIGH STREETS…FROM YOUR SMARTPHONE
Where Wolf is a hyper-local fashion shopping assistant for London. The app detects the location of shoppers and helps them search for products from high street stores near them in real-time. It is in essence the exact opposite of e-commerce.
WHY WHEREWOLF WHY NOW
Strong Consumer Trends:
70 – 75% of shoppers researching online have the intent to shop in store, (Google 2016 & Deloitte Retail Reports) a phenomenon called Research Online Purchase Offline (ROPO). The Problem is that while shoppers are looking for fashion products near them there is no platform that gives them visibility to products in-store. At the end of a fashion season 20%-30% of goods go unsold. This is all inventory that lying in-store.
Where Wolf wants to play matchmaker between shoppers looking for products and inventories in store and positively impact the bottom-line of fashion retail brands that are currently going one of the biggest crises with decreasing footfalls and rising real estate prices.
How did you come up with this idea?
The initial idea was to become a platform that would help users discover a fashion sale near them. While developing the idea further we realised that the platform had the ability to add on a lot more content that could build on the existing online to offline tech capabilities and increase the value of the platform multi-fold. When we tested our hypothesis with brands we found that they were more than willing to participate.
What stage is your business currently at, and what are your plans moving forward?
LIVE & SEARCHING
Six months into development WhereWolf has closed it pre-seed investment round and is now LIVE on IOS, Android and MSite with very encouraging user numbers. The platform features 10k+ Products from 80 brands on the platform covering over 200 stores in London
WhereWolf is the Platform of Choice with the council of Harrow & Wealdstone and is currently running a 3-month pilot where we drive footfall and in return receive marketing collateral in the form of Outdoor Advertising, access to advertising areas in Malls with footfall of over 400k / week, posts on social media and newsletters.
What do you feel are your three biggest successes with your business so far?
- A fantastic co-founding team that has a mix of experienced entrepreneurial and corporate experience of over 60 years combined in luxury, media and media-tech. Its helped us go LIVE in 6 months with teams working out of London and New Delhi
- Being able to close our funding round quickly and without too much fuss so we could get to work.
- Partnership with the Council of Harrow and Wealdstone. It lends credibility to what we’re trying to achieve.
How was being a student at City helped you to develop your idea?
One of the advantages of being at City was the opportunity to interact with students from all over the world and test the business concept with respect to their own markets. It gave our team the confidence that WhereWolf has the ability to become a global product. Interaction with students also allowed us to pick up insights into the subtle modifications that the product would need for each major market.
What one piece of advice would you give to aspiring entrepreneurial students at City?
Proof on Concept and Proof of Potential. The faster you can prove both the easier the journey will be.
If you are seeking help or investment - let us know what you need to help your business grow?
Advisors at the Board level who have experience in Retail and Tech as investors, entrepreneurs and corporate.