Business Model Canvas
Viability
Our primary revenue streams will be:
Advertisements from businesses that share our goals
We will run in-app ads for our local sustainable fashion business partners, recycling and donation initiative partners and other businesses that share our goals for sustainable and responsible consumption. During special events, we will also run in-app ads for our larger sustainable business partners.
Partnership with the Ministry of Education and schools
We will offer a "For Schools" version of Wardrobe Witch to the Ministry of Education for use in their sustainability curriculum in secondary schools. This will be charged as an annual subscription, including access for students of all secondary schools in Singapore.
The revenue that is generated through advertisements and collaboration with the Ministry of Education will be reinvested into the app solution, allowing us to focus on game development and expansion to other sustainability issues, as well as potential entrance into other parts of the region such as Indonesia, India, and Australia.
I-banking and e-wallet services are essential for teenagers, as they do not have personal bank accounts and therefore receive the money from their parents. Access to the data from i-banking and e-wallet apps is required in order to track consumption habits and determine the frequency and quality of their purchases with regards to our sustainable consumption aims.
We will be collaborating with multiple local sustainable and ethical brands to make their products more accessible to our users. This entails offering exclusive vouchers and discounts as both redeemable rewards and prizes for special events. Where possible, we would also like to make these businesses' products available as prizes to specifically bridge the potential affordability gaps our users may face when it comes to purchasing such products from these companies. We would also like to offer these brands the opportunity to advertise on our platform.
Schools have been increasingly prioritising teaching youth the value of money and the importance of leading a sustainable lifestyle. As such, we will work with the Ministry of Education to integrate Wardrobe Witch into the sustainability curriculum for secondary schools.
As we will be offering information on how to properly dispose of unwanted clothing items, we will partner with local recycling and donation initiatives to allow users the opportunity to access these services through Wardrobe Witch. This will increase the accessibility and convenience of discarding clothing in a mindful and sustainable manner, thereby increasing the likelihood of our users doing so.
Our users are teenage girls, aged 14-16, who are currently engaging in reckless and irresponsible consumption habits. Through the app, we hope to inculcate more responsible and mindful shopping habits that will continue to serve them (and the world they live in) well, even as they enter adulthood. When playing our game, they will be rewarded for displaying appropriate consumption behaviours, will have access to information and resources on where to responsibly purchase and dispose of clothing and can play educational mini-games that will raise awareness on critical issues and educate them on how they can play their part.
Parents are very concerned about their children not understanding the value of money and spending it on things that are not necessary, so our app provides them with an avenue to educate their teenage children on sustainable and responsible shopping habits.