Market Measurement Study Helps a Specialty Retail Client Forecast the Growth of the Industry
The global specialty retail industry is anticipated to witness uncertain growth owing to macroeconomic factors such as higher disposable income, consumer spending, and GDP. The specialty retail industry is highly fragmented and typically consists of specialty stores, fuel, and automotive retailing. Additionally, the rapidly growing middle class, well-developed financing and credit facilities, availability of trained […]
The global specialty retail industry is anticipated to witness uncertain growth owing to macroeconomic factors such as higher disposable income, consumer spending, and GDP. The specialty retail industry is highly fragmented and typically consists of specialty stores, fuel, and automotive retailing. Additionally, the rapidly growing middle class, well-developed financing and credit facilities, availability of trained workforce at a competitive cost, and market-oriented stable economy are also expected to boost the market size of the specialty retail industry. However, according to the market measurement experts, it has been noted that the competitiveness in this segment is high and the barriers to entry are low. Furthermore, the high degree of inflation, price competition, supply chain, and efficient inventory management are expected to pose a challenge for the industry.
Consequently, to accurately measure the market size, companies operating in the specialty retail industry have started leveraging the use of robust market measurement studies. Market measurement studies provide firms operating in the specialty retail space a firm baseline for marketing activities.
With years of expertise in offering a plethora of solutions, Infiniti’s market measurement experts help leading firms operating in the specialty retail sector gain a better understanding of their potential market size.
The Business Challenge
A renowned specialty retail industry client with business units spread across the globe was facing predicaments in understanding their potential market size across the industry. Additionally, the client wanted to gain recommendations on consistent and defensible statistics that they could build marketing programs and decrease the cost of customer acquisition. Furthermore, they wanted to gain a clear view of the total market size to help them plan their marketing activities accordingly.
To cater to the specialty retail industry client’s business requirements and help them gain a clear view of the current and future market size, Infiniti’s market measurement experts carried out a comprehensive qualitative and quantitative research methodology with leading stakeholders in the specialty retail industry. The experts also collated information from company presentations, paid industry databases, and industry forums to help the client gain consistent and defensible statistics to devise an effective marketing program across business units.
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Benefits of the Market Measurement Study:
- Segmented market size by application in terms of the product and geography
- Identified the potential customers for the company’s products and services
- Gained a better visibility into the market sector, employee size, and turnover
- Identified the local unit data about sites, site ownership, meters and purchasing across the specialty retail industry
- Forecasted the growth of the industry by using output estimates and vital macroeconomic indicators
Benefits of Our Integrated Approach
The client, a major player in the specialty retail industry, gained actionable insights into the potential market size in a span of ten weeks. Additionally, the client was provided with consistent and defensible statistics to help them devise marketing programs and reduce the cost of customer acquisition.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of specialty retail industry.