Today, with the rapidly changing perception of the people, the grooming industry is witnessing unprecedented changes in the demand for beauty products across the globe. The frequency of purchase for grooming products such as cosmetics, toiletries, and shaving products is steadily increasing as consumers associate good grooming practices with personal confidence. To stay relevant in an increasingly crowded and competitive market space, grooming products manufacturers are opting for robust market opportunity assessments to help retain their hold over the market, unlock new potential opportunities, and identify the unmet needs within the market space. In addition, understanding the market and the barriers sustaining the entry helps businesses gain adequate data to build effective go-to-market strategies and business plans.
Infiniti’s market opportunity assessment helps the client assess the market size and growth projections in the grooming products market. With our help, the client can further carry out a robust SWOT analysis to analyze the potential trends and market drivers in the competitive landscape.
The Business Challenge
A global conglomerate in grooming products was facing challenges devising the most effective digital strategy for their new products. The client also wanted to identify the relevant customer demand and formulate a strategy to turn the data into effective sales. Furthermore, the client also wanted to assess the preference of their products among consumers.
Our Research Methodology
To gain an in-depth understanding of the market’s landscape, Infiniti’s market opportunity experts carried out a blended approach comprising interviews and discussion with key market stakeholders and industry experts in the grooming products landscape. As a part of the secondary research, our market opportunity experts also collated information from various proprietary sources such as blogs, websites, industry forums, and company presentations.
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Our Solution Helped the Client
- Leverage the use of precise mathematical modeling to determine websites
- Gain insights into consumers’ thinking and identify the most beneficial digital strategy and reach efforts
- Optimize websites, communications, and advertising to attract more consumers
- Develop a digital strategy to deliver a globally aligned message
Benefits of Our Integrated Approach
In just eight weeks, Infiniti’s market opportunity assessment helped the client devise an effective market strategy for their new product portfolio. The market opportunity assessment also helped the client identify the exact terms that consumers search for when looking for products in the category.
A must-read market opportunity case study for strategy experts and decision makers looking to assess the market landscape for the grooming products industry.
