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Success story
Retail|Market Opportunities and Innovation|United States|English

2020 foresight and strategic guidance for retail innovation

24.06.2016

We helped a large specialty chain store revitalize its strategy, consumer target and brand positioning to become more competitive in a fast-changing market.

Situation

Our client, the leader in its category, was facing declining discretionary spending, changing consumer dynamics and fierce competition from omnichannel and pure online retailers. It needed to introduce innovations that would ensure its relevance in the market of the future.

Approach

We used our Innovation Roadmap to develop a target market, clear strategic direction and a compelling positioning that would help the retail chain with a new approach. Our three phase process included the following:

  • Discovery: online immersive ethnographic research, shopper analysis and tipping point analysis
  • Market opportunity assessment: category forecasting including emerging categories, segmentation linked to consumer demand projections, and positioning development and validation
  • Impact and activation: We used the retailer’s database to classify customers and leveraged our audience measurement data to develop a media buying plan for new target consumers. We also provided collateral for sharing the new strategy across the organization and aligning all of the client’s groups and departments behind it.

Outcome

Our target analysis, positioning insights and recommendations empowered the client to drive disruptive retail innovation in its category. The work will shape and inspire the retailer's strategy over the next year and beyond.

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