OBJECTIVE
A leading multi-brand apparel and accessories retailer was facing dwindling sales despite an increase in footfall at their retail outlets.
- While earlier research had proved that the stores were strategically located and were attracting the right target audience, the client was uncertain why their sales were dropping so rapidly
METHODOLOGY
Over 500 target customers – a prudent mix of gender, age group and income level – were interviewed across the client’s stores. The data was analysed, and cross tabulated by age group & income level, to determine
- brand perception, affinity and loyalty
- satisfaction levels by price, product quality & design (fabric, comfort)
- satisfaction of selection of products available for men / women
- how discount sales influenced sales
We also analysed how the interior displays and customer service in the stores influenced the sales process.
Interestingly, the number of repeat customers was very low due to their dissatisfaction with the store environment and high prices. That explained the dwindling sales.
SOLUTION
With an infinite amount of customer data, we were able to provide valuable analytics about our client’s in-store customers across multiple parameters – including who their best spenders were, and which of them would continue to come back (RFM analysis).
A year after the project was completed, we learnt that sales across the stores had gone up by 30%.
