Some of the most frequent questions I’ve been asked by prospective students has been about the MSc Economics & Strategy for Business consulting project. Time after time, I’ve had to say that I can’t really tell them that much because I haven’t done it myself yet. That was, until now. Because last week we had the deadline for the project that we had been working full-time on for six weeks. For me and my group, that meant working for an exciting and fast growing fashion e-tailer, Shoptiques.
Shoptiques was our first choice when sending in our proposals, this was because we were very intrigued both by the entire business model of the company, the people behind it, and the fast growth. We know that we are not alone in seeing the uniqueness of Shoptiques as it earned a spot on Forbes’s list of America’s most promising companies last year. Shoptiques gathers fashion boutiques from all over the world on one platform. If you would like to buy the clothes from that quirky little boutique in Sydney that you visited last year but you currently reside in the UK, no problem! You just go to Shoptiques.com and find it. In that way, Shoptiques offer something that is more unique than most of the stores you can find on the high street. So I think you can understand why we were intrigued by this company, and you should definitely check their website out if you are interested in finding out more about the company!
The scope of the project covered the international expansion of the company and how to approach an unfamiliar market. This included both more general advice and market research, as well as some clear and actionable recommendations that the company could act on directly when starting the expansion process. I’m afraid I can’t be much more specific than that, but I promise you that it was a super interesting project which we all learnt a lot from. I believe that one thing that really made the project extra enjoyable, was the people we were in contact with at the company. We were in contact with both the head of international, logistics and account management, as well as an intern currently working at the company. Both had very impressive backgrounds and it was a great opportunity to work with people with that kind of experience. We were in regular contact over email (since their head office is located in NYC) and our contact really took the time to answer our many questions, explain how the company operated and was in general very supportive in every possible way. This helped make the project such a great experience!
Another reason for why the project was a great experience was of course that we got some extremely valuable experience from working with the international expansion of a fast-growing company such as Shoptiques. Adding to that, I was part of a great team that really worked well together throughout the entire period.
If there is one piece of advice I would give to everyone who will be doing the project next year, it would be: start in time! We started working straight away (or even slightly before) and that helped us a lot when we encountered different dilemmas. Finally, I can only speak for myself, but I believe that this was a great part of the programme and something that I think we will all find very useful in the future. If you are joining the programme this autumn, then this is definitely something for you to look forward to. And if you have any further questions regarding the consulting project or anything else, please don’t hesitate to contact me.
Viktor is studying our MSc Economics & Strategy for Business programme.