LONDON--(BUSINESS WIRE)--Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on market intelligence engagement. This success story highlights how the experts at Infiniti Research helped a specialty retail store to adopt a new business model, regulate the market competition, and increase sales by 39%.
The rising disposable income and changing lifestyle of consumers have increased the expectations of customers. Like all other sectors, this has equally transformed the specialty retail sector. However, small specialty retail stores are facing increasing competition from top specialty retailers, e-commerce, and department stores. With this, companies in the specialty retail industry are in the need to expand their operations overseas, narrow focus on the core business, and introduce own store-branded products.
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The business challenge: The client is a specialty retail store based out of the United States. The client faced challenges in personalizing their product offerings and devising efficient marketing strategies. They wanted to move to an omnichannel model of business. Before investing a huge sum into this new business model, they wanted to analyze their customers’ purchasing history, feedback, and preferences across different touchpoints and personalize offerings for them. Also, they wanted to identify the factors that improve customer loyalty and evaluate the impact of marketing strategies. Besides, the client wanted to formulate effective supply chain management strategies and reduce inventory costs.
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Infiniti’s market intelligence analysis solution comprised of:
- Customer intelligence study to analyze customers’ needs, preferences, behaviors, and demands.
- Market scanning and monitoring analysis to identify regulatory changes and industry developments in the US specialty retail industry.
- Inventory management solution to identify supply chain challenges and efficiently plan supply chain activities.
- Wondering how your business can benefit from our market intelligence solution? Request more information from our experts!
The business impact of the engagement for the specialty retail store:
- Identified customers’ needs and demands and revamped marketing strategies
- Identified hidden market opportunities
- Revamped supply chain model and reduced inventory costs
- Regulated the competition by implementing dynamic pricing strategies
- Increased sales by 39%
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Read the complete success story for comprehensive insights: Market Intelligence Engagement to Increase Sales by 39% for a Specialty Retail Industry Client
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us