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The client is a fashion retail brand based out of Central Europe. In an attempt to acquire new customers and retain valuable ones, the client offered huge discounts to their customers. However, this had a negative impact on the company’s profit margins. Also, as customers seamlessly moved between online and offline channels, the fashion retail industry client faced difficulties in meeting their needs and demands. Consequently, they encountered a steady decline in the sales rate for two consecutive years. The client, therefore, wanted to gather customer insights and devise personalized marketing approached for them. They approached the experts at Infiniti Research to leverage their expertise in offering customer intelligence solution.
During the COVID-19 crisis, it is critical for companies in the fashion retail market to take calculative and well-executed measures to ensure business continuity in the long run. Request a free proposal to know how industry experts at Infiniti Research can help you plan and create comprehensive action plans to navigate the crisis. Request a FREE proposal here.
With Infiniti’s customer needs analysis solution, the fashion retail industry client was able to increase their sales and market share by focusing on personalizing their product offerings according to customers’ needs and requirements. Also, by segmenting customers into various categories based on their demands, the client was able to realign their marketing activities and distribution process to meet customer needs. This further helped the fashion retail industry client in successfully implementing the new customer segmentation approach and realigning their delivery system, as well as distribution and sales process based on customer needs. The client was also able to reduce customer churn rate by 13%. Also, the company gained 7.5% retail share in its new product category over two years, generating millions of dollars in revenue.
For an in-depth market analysis on how COVID-19 will impact the fashion retail market and data-driven insights to plan your next moves, request more info here.
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