Why is Market Intelligence Crucial for Investment Due Diligence
Even though the fashion retail industry has fared well over the past few years, market growth has been volatile at times. Growing consumerism, inventory management, sustainability, millennial buying behavior, and entry of new players have increased challenges for fashion retailers. This has pressurized companies in the fashion retail industry to leverage a market intelligence study to drive change and flourish in the fast-changing and unpredictable industry.
The client, a well-known European fashion retail industry player was facing a decline in their overall sales rate along with a dip in the frequency of shoppers. Hence, they decided to conduct a market intelligence study to understand the dynamism in the European fashion retail industry. With Infiniti’s market intelligence solution, the client wanted to gauge customer behavior and understand the extent to which internal and external, controllable factors were playing a part in their dipping sales rate.
Solutions Offered and Value Delivered
By leveraging Infiniti’s solution, the client gained in-depth insights into the European retail industry. The market intelligence study helped the client uncover the reason behind their dipping sales rate. Based on the recommendations offered by our market intelligence experts, the retail industry client was able to prioritize their efforts on factors that would bring the greatest impact to their business results.
The solutions also empowered the client to adequately allocate resources to meet the changing market requirements. Moreover, our solutions also offered information on the market size, market analysis, competitor analysis, and growth predictions.
In a span of 4 months, the client was able to curtail the losses incurred and enhance their profit margin by 22%.
What is Market Intelligence?
Market intelligence is the foundation of any company’s business plan, used for discovering insights about consumers and generating prospective sales. Market intelligence provides detailed insights into competitors, latest market trends, consumer buying patterns, economic shifts, and demographics. Thus, smart business owners leverage intelligence solutions to create effective marketing strategies.
Why Infiniti’s Market Intelligence Solution?
In today’s competitive market, sustaining market position and achieving business growth has become challenging. The inability of an organization to react to the dynamic market increases business risk. Hence, keeping track of market changes is very crucial to thrive in the marketplace. Infiniti’s solutions offer a comprehensive overview of the current market, including competitor strategies, market challenges, market trends, and much more. Our solutions enable organizations to gain a holistic view of the entire market. This insight further helps businesses to customize their products and services and distinguish their brand from their competitors.
With a market intelligence solution, you can gain an in-depth understanding of the market scenario before making any investment decisions. Get in touch today for a personalized market intelligence solution for your business.
To keep pace with the growing demands of customers, food and beverage companies are constantly brainstorming new ideas, leveraging market research, and investing millions of dollars into finding the right market niche for their product offerings. Amidst the rising competition, companies that lack knowledge about changes in the market, competitor offerings, and customers’ preferences may find it difficult to thrive in the market. As a result, the need to have a marketing intelligence strategy in place has become vital for businesses.
The client, a leading food and beverage company in the US, introduced a new product in the market. They spent over $7 million on advertising the product on television and in print. But the product failed to gain traction from customers as the company targeted the wrong customer group. Moreover, customers found the product price to be quite expensive. Owing to this, the overall sales of the company plunged by 15%. Due to the dip in sales rate, the company had to discontinue the product in less than a year after it was introduced.
To make up for the lost sales, the client decided to introduce another healthy food product in the market. Before the product launch, the client wanted to thoroughly analyze the target audiences and research their competitors. With Infiniti’s marketing intelligence solution, the client wanted to build a robust marketing strategy, measure marketing progress, set competitive prices for the product, and deliver growth across all customer segments.
Solutions Offered and Value Delivered
Infiniti’s marketing intelligence research involved a detailed analysis of the client’s target audiences, key competitors, and profitable market segments. The marketing intelligence research offered to the client also helped them in devising a robust marketing strategy to promote their new food product. Also, by closely analyzing competitors, the client was able to ascertain the demand for similar products in the target market. This helped them set competitive prices for their new product.
They were also able to measure marketing progress and wisely spend their resources and money on advertising. With this, the client was able to attract lucrative customer segments and enhance sales for their newly introduced product. Within one year of product introduction, the client was able to exceed the sales expectations. As a result of the marketing intelligence study, the company was able to increase their profit margins by 25%.
Customers today are no longer forced to make a purchase decision by comparing a few options that are available. Rather, they are now bombarded with dozens or even hundreds of options to choose from. Therefore, one of the key challenges in retail industry is for companies to differentiate themselves from the other players and consequently improve their visibility in the market. Furthermore, waning brand loyalty as customers tend to switch from one brand to another based on what best serves their requirements now proves to be a unique challenge for modern retailers. They now need to find innovative ways to appeal to both existing and potential customers.
In this blog, retail industry experts from Infiniti Research highlight some of the biggest challenges in retail industry this year and how reliable retail industry data coupled with effective market intelligence solutions can help oust such roadblocks.
We understand that businesses face several challenges in retail industry while identifying and curating high-value customers to develop marketing strategies and maximize profitability. Request a free brochure to know more about our solutions for the retail industry and how we help clients identify market trends, opportunities, and challenges in retail industry.
Challenges in retail industry 2019
Consumers moving to multi-channel buying experiences
Technology has been a major boon to retailers and customers alike, however, they also play a major role in propelling the challenges in retail industry. As consumers are seamlessly moving between online and brick and mortar platforms for shopping, they are becoming more open to retailers who can facilitate these transactions. So, companies that want to thrive in this sector must heed to such retail industry trends and focus on creating top-notch customer experience across all platforms.
Demand for impeccable customer experience
Brand loyalty largely depends on the customer experience. The level of effort taken to enhance customer experience is directly proportional to the customers’ likelihood to engage in repeat purchases with a brand. However, this is currently one of the key challenges in retail industry as creating a significant customer experience requires retailers to dive-deep in customer details in order to understand their customer better. Providing personalized experiences by identifying customer preferences could contribute to delivering great customer experiences.
Siloed marketing infrastructure
Effective marketing today requires companies to engage with their target customers across various platforms. Multi-channel communications are essential in driving the creation of seamless customer experience. But this could also prove to be one of the major challenges in retail industry because with so many different channels customer data could be siloed. In case all the elements of the marketing department are not working in synergy, chances are that customers could be overwhelmed with conflicting or repeat messages.
To gain a competitive edge in the retail industry despite several ongoing trends and challenges, it is vital to adopt a data-driven approach coupled with the right solutions that can transform this data into meaningful insights. Request a free proposal to learn how our market intelligence solutions can help overcome challenges in retail industry.
How Infiniti’s solutions can help retailers overcomes these challenges?
Creating a winning proposition in today’s complex retail environment requires a superior business strategy, resourceful operations, attractive merchandising, targeted marketing, and the use of reliable technology. We provide strategic market intelligence solutions and help our clients identify challenges in retail industry and use their key performing metrics to facilitates quicker decision making and better customer service. Get in touch with us to know more about our market intelligence solutions for the retail industry.
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LONDON: Infiniti Research, a leading market intelligence solutions provider, has announced the release of their FREE downloadable resources on the benefits of market intelligence solutions. These supplements provide comprehensive insights into how our solutions help businesses to track market trends, forecast demand-supply shifts, and analyze market opportunities.
In today’s competitive market, sustaining market position and achieving business growth has become challenging. The inability of an organization to react to the dynamic market increases business risk. Hence, keeping track of the market changes is very crucial to thrive in the marketplace. Infiniti’s solutions offer a comprehensive overview of the current market, including competitor strategies, market challenges, market trends, and much more. Our solutions enable organizations to gain a holistic view of the entire market. This insight further helps businesses to customize their products and services and distinguish their brand from their competitors.
Our solutions help businesses keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, regional market developments, and provide insights on the potential impact of changing factors on business segments. Request FREE brochure to learn more about our market intelligence solutions.
#1: Market Intelligence Versus Business Intelligence – What’s the Difference? Wondering what is the difference between these two terms? Well, both the services assist organizations in better understanding their business anddifferentiating their offerings from other counterparts in the market.. Although both are sometimes used interchangeably, it’s important to understand the fundamental differences between the two terms. Our latest supplement explains the key differences between market intelligence and business intelligence solutions.
#3: Healthcare Market Intelligence – Top Trends and Market Analysis: Recent study shows that healthcare intelligence services help companies to address demographic shifts and attain strategic goals at diverse stages of the product lifecycle, from clinical research and approval to commercialization. Download our FREE supplement to gain an overview of the healthcare market and top trends in the healthcare industry.
Get in touch to know more about our market intelligence solutions
Mergers and Acquisitions (M&A) involves a rigorous process that requires a high degree of detail. For an M&A to be successful, a myriad of processes should be strategically set and executed. There are several reasons why owners of a business or top executives of an organization decide to leverage mergers and acquisitions strategies. One of the key reasons is to kill competition by buying rival companies. M&As’ also help easily boost business productivity, gain new customers, and even seamlessly penetrate into new markets.
Difference between mergers and acquisitions
Although mergers and acquisitions are often blended and increasingly used in conjunction with one another, there are certain fundamental differences between the two terms. A merger refers to two companies which consolidate into a new entity and introduces a new ownership and management structure. On the contrast, in the case of an acquisition, a new company does not emerge. Rather a smaller company and its assets are acquired by a bigger player. Acquisitions generally require a large amount of cash.
Role of M&As in strategic business growth
Infiniti Research has identified some key areas where mergers and acquisitions have proven to be a useful growth strategy:
Cover gaps in service offerings
The occurrence of certain external events or the introduction of new laws and regulations causing the marketplace to change results in a gap in the firm’s offerings. This could prove to be a prime opportunity for a mergers and acquisitions strategy.
Acquire talent and intellectual property
In most cases, companies attain market dominance through mergers and acquisitions when they are in possession of another firm’s intellectual property. Furthermore, by acquiring another company’s experienced and professional staff, it is possible for organizations to strengthen their processes and pool in new ideas to improve business.
Opportunity to leverage synergies
A strategic mergers and acquisitions are an essential part of a company’s growth strategy and often results in synergies that offer value to both the acquired and the acquiring party. Cost and revenue are two mergers and acquisition-related synergies achieved by companies. Cost synergies involve cutting costs by taking advantage of overlapping operations or resources and consolidating them into a single entity. Revenue synergies alter the competitive balance of power. It creates opportunities to change market dynamics, sell more products, or raise prices.
Develop new business models
The revenue generation and business models vary from one company to another. However, for firms planning to venture into a new business model, the best way to do it is by acquiring a firm which is using the model successfully. This helps companies avoid mistakes due to inexperience.
Want to learn more about mergers and acquisitions? GET MORE INFO here:
Market Intelligence Versus Business Intelligence: What’s the Difference?
Challenges such as increasing compliance complexities, growing competition, volatile fuel costs, and constantly-evolving consumer demand have made it difficult for companies to sustain profitability, let alone expand their market presence. This has taken the tension between maximizing profits and cost-cutting to a new fever-pitch. With the increasing competitive pressure, companies in the transport and logistics industry have been forced to walk the tightrope of delivering a consistent brand experience and balancing price competitiveness. However, growing material and labor costs coupled with market volatility have made it difficult for companies to sustain profitability. This has compelled leading companies in the transport and logistics industry to focus on leveraging benefits of business intelligence solutions for developing effective strategies for growth.
At Infiniti Research, we understand the impact that business intelligence and analytics can have on your transport and logistics business. And to help companies in the transport and logistics industry excel in the competitive market landscape, our team of experts has highlighted the key benefits of business intelligence solutions for companies in the transport and logistics industry.
Expansion is the sign of a healthy business. And with the aid of market intelligence services, business expansion is no longer a distant dream for emerging companies.
Recruiting more staff, expanding into new markets, and building industry reputation are all exciting developments that come with growth. But in today’s competitive market space, growing businesses face a host of different challenges. As the company grows, business leaders start realizing that there is no “one size that fits all” approach – every new opportunity and problem will eventually start demanding different solutions. What worked a year back may not work this year and may not be the best approach. Identifying and mitigating challenges associated with market entry is essential if the business is to survive. Effective leadership will help business leaders make the most of existing opportunities but leveraging market intelligence services can unlock the doors to a lucrative new market segment.
With the rising pressure to sustain profitability and brand image in the market, companies have started facing the need to outpace their opponents when it comes to retaining and acquiring new customers. There’s nothing more depressing to the stakeholders than slow sales or high competition. Companies of today need to be on their toes and constantly think about ways to attract, serve, and retain their customers. Consumers change with every generation and companies need to be agile enough to serve the market as it stands in any given year. Whether you’re in the healthcare, automotive, manufacturing, or retail industry, market intelligence services are still essential for survival. With that being said, let’s take a look at what is market intelligence below and how it can take your business to the next level. (more…)
The current state of the U.S healthcare market is characterized by continuous flux and uncertainty. When compared to the overall healthcare costs, the drug costs have grown at a slower rate. Companies in the U.S. healthcare system are now exploring ways to combat these challenges and survive the mounting healthcare market access pressure.
Healthcare market access assists the right patients to get timely and easy access to medical services and products at an affordable price. Accessibility, availability, affordability, adoption, and willingness to pay (reimbursement) should be achieved while ensuring equity and quality at each level. Furthermore, multiple challenges and inefficiencies and uncertainty in healthcare systems lead to unnecessary delays in access to innovative technologies, slow adoption of new and effective technologies, and inequalities in guaranteeing that patients receive the best-in-class treatment.
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