LONDON--(BUSINESS WIRE)--The impact of the COVID-19 pandemic has been felt across industries. Companies have struggled with changing consumer needs in the European retail industry, the sudden upsurge of digitization, and the need to make crucial supply chain operational changes. To ensure business continuity, retail companies need to strategize for recovery and plan for the post-COVID era. Infiniti’s customer intelligence solutions enable European retail industry players to address their consumers’ changing buying behaviors, spending patterns, needs, and demands. It also allows businesses to adopt new technologies and marketing approaches and manage all their consumers' needs in these challenging times.
To leverage Infiniti’s customer intelligence solutions for in-depth insights into the changing European retail industry and comprehensive strategies to adapt to the post-COVID era, request a free proposal.
“While some retail brands have already taken approaches to combat the COVID-19 challenges, others are still struggling to maintain productivity and ensure business continuity. As such, European retail brands must take actions to navigate the COVID-19 crisis, plan for the recovery, and shape the future,” says a retail industry expert at Infiniti Research.
Business Challenge:
The client is a retail firm with 55+ outlets in Central Europe and witnessed a significant impact of the COVID-19 pandemic on their supply chain operations. The retailer also struggled to efficiently manage demand-supply requirements due to their inability to transition to a vertically integrated distribution model fully. Additionally, the European retail industry client faced challenges regarding customer buying behavior and changing consumer preferences, making it difficult to address immediate needs and prepare for the post-COVID era. Therefore, the client sought to accelerate digital options, restructure their merchandising plans, compete efficiently, and understand customers’ needs and preferences. The European retail industry client chose to partner with Infiniti Research to leverage our expertise in offering customer intelligence solutions. During the five-week engagement, the client also wanted to enhance business continuity, simplify their product portfolio, and meet customers' changing needs.
Our Approach:
To assist the European retail industry client, Infiniti’s customer intelligence experts developed a comprehensive approach that included the following:
- Assessing the impact of COVID-19 on the client’s business operations and analyzing evolving consumer preferences and spending patterns
- Customer intelligence framework to evaluate customers’ behavior patterns and purchasing behaviors
- Accelerating digital options by setting up new online platforms and portals and providing consumers with more insights into the client’s offerings
- Rethinking their merchandising strategy and developing a plan to deal with the high levels of unsold inventory
Speak to industry experts to gain insights into the benefits of customer intelligence solutions in the European retail industry, and how it helps retailers recover from COVID-19 and prepare for the post-COVID era.
Business Outcome:
With Infiniti’s customer intelligence solution, the European retail industry client gained real-time insights and developed hyper-personalized experiences to create a more engaging and effective consumer experience. The client also successfully modified their delivery models and enabled consumers to navigate the pandemic safely. Acceleration of digital functionalities helped ensure business continuity, and the client experimented with bulk versions of their offerings. With an efficient marketing strategy, the European retail industry client enhanced its offerings. The client also addressed their technology gaps to stabilize critical infrastructure and simplify their product portfolio to meet changing consumer needs. The retailer also adapted to contactless delivery and made physical operations touch-free. Lastly, the client adopted agile innovation to address immediate customer needs by keeping pace with changing customer preferences.
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 analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
