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customer intelligence

Building Customer Intimacy for a Global Fashion Retailer with Customer Intelligence Solution

Customer experience and satisfaction have come to the forefront across industries. As such, it is now imperative for companies to create a 360-degree view of their customers to know and respond to them in real-time with a highly personalized approach. When it comes to the fashion industry, which is one of the most volatile and rapidly changing sectors, staying relevant and exciting could prove to be challenging. Brands must keep constant tabs on how consumer shopping trends are evolving and identify the gaps before it’s too late. Those brands that fall behind from doing so often fail to thrive in the long run. Furthermore, with the world going digital, consumers are rapidly integrating tablets and smartphones into shopping. This makes integrating digital into business a key to optimizing the brand experience. Top fashion retailers turn to customer intelligence solutions to gain a better idea of how their customer shopping patterns are changing and identify what they need to do in order to adapt.

By bringing together customer, sales and inventory information from siloed applications, brands can benefit from access to powerful consumer insights for better decision-making across sales, merchandising, marketing, logistics and improve customer experience. Know how we can help you achieve this.

The client

The client is one of the most iconic fashion retailers having stores set up in 50+ locations around the globe. The company has been in business for over 40 years.

Business challenges

The client recently moved to an omnichannel model of business in order to keep up with the changing trends in the fashion industry. Despite this, they noticed a constant decline in their profits from online channels and also a dip in footfalls in their brick and mortar stores. They approach our industry experts to leverage our customer intelligence solution and identify where they lacked in keeping their customers hooked on to their brand and understand ways to enhance their profit margins. Using customer intelligence services, they wanted to:

  • Gain a single view of customers (including purchase history, feedback, and preferences) across different touchpoints
  • Identify issues faced by customers both instore and on online platforms and analyze ways to resolve these issues
  • Enhance their merchandising to suit the tastes and preferences of target customers
  • Formulate strategies to avoid strategies of stock-outs of excess stocks that can have a significant impact on the profit margins

Get in touch with an expert to know how we can help you solve key business challenges.

Solution offered

As a part of the customer intelligence engagement, our experts undertook a customer segmentation analysis to group different target consumers of the brand based on the touchpoints through which they interacted or purchased from the brand. Infiniti’s experts then followed a customer need analysis to better understand the needs of the target customers and gauge their satisfaction levels. This helped identify the gaps in service and products and gave the company a fair idea of their areas of improvement.

Apart from the customer intelligence solution, the experts also used demand planning and forecasting analysis to identify the optimal stock levels that the business must maintain in order avoid situations of overstocking or understocking or avoid supply-demand mismatch.  The client also gained comprehensive insights and strategies on how they can optimize their supply chain processes to better meet the demands of target customers.  

Business impact

The customer intelligence engagement helped the client in:

customer intelligence

Learn how our solutions can help you stay updated with the latest retail industry trends

retail industry

The Reasons Behind Soaring Private Label Success in the European Retail Industry

In the European retail industry, there is currently an unprecedented prominence of private labels. According to our industry experts, the sales and market share of private label brands have climbed to an all-time high in countries including Belgium, Netherlands, Austria, Denmark, Poland, Sweden, and Norway. Our experts believe that some of the key drivers behind the success of private labels are the expansion of retailing around the world, the emergence of e-commerce, the success of discounters, and changing millennial shopping habits. Furthermore, Private labels allow companies in the retail industry to offer something distinct to their customers. With intensifying competition in the retail industry, private labels have grown to include exclusive products aimed at increasing brand loyalty.

Brands in the retail industry should always be on the lookout for opportunities to better serve their customers. Request a free proposal to know how we can help you capitalize on the right market opportunities.

retail industryThe rise of millennials

Millennials are expected to outnumber baby boomers over the next decade as the generation with the highest discretionary spending power. Millennials are known to be experimental in trying out new products and consequently, private labels are becoming increasingly popular among this group. They demand products that do more, provide greater convenience and offer a variety of lifestyle options and are known to undertake extensive research before buying products. Loyalty to established brands in FMCG cannot be expected from millennials. As a result, almost all major retailers in Europe have developed sophisticated private label programs that give tough competition to established FMCG brands.

Attractive and meaningful packaging

Modern retailers have realized the importance of attractive and meaningful packaging and generally, they have been succeeding in using packaging to get the right message across to shoppers. In the case of private label, it is mostly up to the retailer to set the specification, and there has been some heavy investment in packaging solutions. Apart from increasing the market share, private labels have also undergone stratification with the rise of premium and mid-range offerings besides the traditional bargain ones. Stratification has been in practice over several decades. Today, however, we can see stratification based on factors including organic, natural, gluten-free, and value-based.

Private label is a secret weapon for retailers today. To use it right and maximize its potential, experts at Infiniti can help you as it has done with many companies in the retail industry. Get in touch with us for more insights.

Health-conscious customers

The UK is a market where players in the retail industry use private-labels to reinforce an already-strong store equity position. The major supermarkets’ strategy has been to grow private-label sales. This can particularly be seen in fresh foods, while reducing the range of packaged goods. Retailers are gradually expanding their private-label brands to include healthier options, including for consumers with special dietary needs, and recommends looking for opportunities to remove, reduce or replace undesirable ingredients in their prepared foods. The benefits are also being prominently highlighted on packages and with in-store signage.

Ecommerce boom

Private labels are being disrupted on many various levels due to the rise of ecommerce. Several top ecommerce companies are fragmenting the path to purchase and opening new opportunities for private labels. E-commerce platforms are opening up many doors to expand the sales of private labels.

Learn more about Infiniti’s solutions for companies in the retail industry

retail industry

The Age of Retail Revival: How Top Players are Adapting to the Changing Retail Industry Trends

The rules of retail are gradually changing. The success of retail companies no longer revolve around who can offer the lowest prices or a wider category of products. Rather, retail customer experience is now paramount to entice shoppers and persuade them to stay loyal to the brand. While some popular retailers are shutting stores to cope up with the losses incurred, other agile players in the market are embracing new retail industry trends and increasing investment in their physical space to get the desired results.

Although e-commerce sales are soaring, the apocalypse of brick-and-mortar is a concept that is far from reality. The fact remains that consumers love to gain a look and feel of a product before making a purchase, even though they can get it done otherwise through the click of a button. Top retail industry companies understand this behavior and are trying to set the bar high in terms of service and customer experience, in an attempt to outperform ecommerce companies. In this blog, experts at Infiniti uncover new rules for success in the retail industry.

The retail industry is transforming in important ways. Request a free proposal to know how we can help you identify these challenges and formulate strategies to survive.

Adapting to changing retail industry trends

retail industryCreating exceptional in-store experience

Recent studies show that it is more likely for customers to turn to competitor brands in case they face an unpleasant experience in a store. This includes lack of cleanliness, disorganized shelves, and unsatisfactory customer experience. Top companies have accepted such retail industry trends and have already started revamping their in-store facilities and taking efforts to enhance service provided to become more-experience driven and garner more customers to their stores.

Diversification

Retail outlets can no longer survive by only offering what they specialize in. Smart retailers have figured out that expanding their product lines or services is the future of retail business. Several top retail companies have already started venturing into categories apart from their core offering in order to give more value to customers and drive them to these retail outlets.

Adapting to new retail industry trends benefit customers and businesses alike. Wonder how you can stay updated with the retail industry trends and gain an upper hand in the market? Get in touch with our experts for more insights.

Building partnerships

There is no denying to the fact that ecommerce businesses will grow exponentially in the years to come. Entering into partnerships with e-tailers is a great way for brick and mortar companies in the retail industry to survive in the long run. For instance, some retailers have struck partnerships with ecommerce companies that lets customers return goods purchased from other retailers online. It is indeed a very clever way to draw a new demographic for retailers.

Transparent use of data

There is an abundance of customer data available with most of the established companies in the retail industry. Retailers must ensure that these data are put to use without invading the privacy of customers.

Learn more about Infiniti’s solutions for the retail industry

Retail inventory management

Enhancing Customer Experience by 2X and Sales Rate by 33% for a Retail Firm – Retail Inventory Management Solution

Inventory Management Solution for a Retail Firm

Today, retail companies are under the pressure to effectively manage their stock, maintain an adequate level of inventory for the right products at each retail location, and minimize conditions of overstocks and stock-outs. However, retailers can overcome these challenges by leveraging retail inventory management solutions. Retail inventory management solution can help businesses to maintain an optimal level of inventory while dealing with fluctuating market demands.

With customers’ shipping demands growing each day, retailers are under the pressure to ship orders faster than ever. To succeed in the long run, retailers will need to leverage retail inventory management solutions. Request a FREE proposal today!

Business Challenge

The client is a retail firm based out of Central Europe. With the ongoing market changes, the company faced challenges in keeping the right amount of stock in- hand and planning for seasonal changes. In an attempt to meet the seasonal demand, the client purchased products in bulk. However, this resulted in product overstock, thereby increasing inventory holding cost for the company. Consequently, the company witnessed a huge dip in their profit margins.

The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering retail inventory management solution.

With Infiniti’s retail inventory management solution, the client also wanted to:

Enhance the accuracy of inventory orders – With Infiniti’s retail inventory management solution, the client wanted to accurately evaluate the amount of inventory on-hand to be kept. By doing so, they wanted to prevent product shortages and reduce storage cost.

Enhance retail warehouse management – By identifying the top-selling products, the client wanted to optimize their warehouse setup by placing those products together and in easily accessible places. With this, they wanted to speed up the packing and shipping processes.

Enhance inventory tracking – As the client had to deal with multiple locations, they wanted to develop a retail inventory management framework to coordinate supplies at each location.

Businesses who actively manage their inventory report 10-30% increase in sales and around 35% decrease in stock-outs. Contact us to leverage our retail inventory management solution.

Solutions Offered

To cater to the requirements of the client, the experts at Infiniti Research conducted a market intelligence study. This phase of the retail inventory management solution helped the client to gain detailed insights into the market landscape and forecast demand-supply shifts.

The experts also conducted a demand management study to help the client deal with issues relating to analyzing and estimating customers’ demands.

The inventory forecasting engagement conducted as a part of the retail inventory management solution helped the client to accurately forecast the product demand by taking into consideration the historical sales data of the company.

The last phase of the retail inventory planning involved conducting a competitive intelligence study. This phase of the retail inventory management solution helped the client to analyze their competitors’ supply chain management processes. Also, the client was able to understand the initiatives undertaken by their competitors to manage supply chain challenges. Furthermore, by analyzing the past sales data of the client’s key competitors, the experts helped the client to identify best-selling products in the European retail market.

Results Obtained

The insights obtained from Infiniti’s retail inventory management solution helped the client to accurately plan their inventory activities and develop a retail inventory management framework to enhance inventory tracking. Furthermore, warehouse optimization helped the client to speed-up the packing and shipping process, thereby enhancing the customer experience. Also, the client was able to plan for seasonal and unexpected market changes. As a result, the client was able to enhance their sales rate by 33% and CX by 2X.

Inventory Management Challenges

Inventory Management Solution for a Retail Firm

Want to know other benefits of leveraging our retail inventory management solution? Request for more information.

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