Infiniti’s Market Trend Analysis Engagement for a Retail Company
The European retail industry is rapidly evolving as consumer centricity is becoming mainstream. Also, the advent of experiential retailing and personalization is creating huge opportunities for companies in the retail industry. However, these increasing opportunities and innovations in the market necessitate retail companies to stay abreast with market innovations and changes. This is where companies realize the importance of leveraging market trend analysis solutions. Infiniti’s market trend analysis solution has helped various retail industry giants to analyze the evolving retail industry trends and respond to the ongoing market changes to meet customers’ needs at a faster pace.
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Business Challenge
The client is a retail company based out of Europe. With shifting consumer preferences, increasing technological innovations, and changing dynamics of the retail marketplace, the client was facing difficulties in analyzing the latest retail industry trends and market opportunities. Their inability to respond and innovate according to the latest trends and ongoing market changes resulted in huge financial losses for the company. The company even witnessed an unexpected rise in their customer churn and this further resulted in a dip in their overall sales. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering market trend analysis solutions.
With Infiniti’s market trend analysis solution, they were also looking to:
Revamp in-store experience – With experiential retailing becoming mainstream in the European retail market, the client wanted to revamp their in-store experience by understanding the latest retail industry trends and customer preferences.
Personalize shopping experience – Personalization has been one of the major retail industry trends that have been on the rise for the past few years. Therefore, the client wanted to understand shifts in customer perception of value to personalize the shopping experience for them.
Understand changes in the European retail industry – With Infiniti’s solution, the client also wanted to identify trends in terms of product development and marketing initiatives.
Solutions Offered and Value Delivered – Market Trend Analysis
To help the client understand the retail industry trends and market opportunities, the experts at Infiniti Research followed a three-phased approach. The engagement involved analyzing the latest innovations in the European retail industry, understanding how the client’s competitors adapted to evolving trends and market changes and identifying the needs of target customers.
The insights obtained from Infiniti’s market trend analysis solution helped the client to understand the latest changes and innovations taking place in retail. Also, the client was able to understand how customers reacted to these evolving trends in the market. Infiniti’s market trend analysis solution also helped the retail company to understand how their competitors were adapting to these changes and innovations.
With Infiniti’s market trend analysis solution, they were able to respond to the ongoing market changes and revamp the in-store experience to attract customers. Furthermore, understanding the demands and requirements of their customers helped the client to personalize the shopping experience for them. Also, the client was able to understand the potential demand for their products and identify attractive investment opportunities.
With Infiniti’s trend analysis solution, the client was able to enhance sales, reduce customer churn rate by 44% and achieve savings of $ 3.2 million in a year.
CONTACT US to know how we can help you identify trends in terms of product innovation, competitor product features, and marketing approaches.
Retail Industry Trends 2019
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