Customer Segmentation and Growth Strategy Development at a Jewelry Retailer

Challenge

A jewelry and watch retailer sought to validate its corporate strategy and identify opportunities to gain additional market share

Approach

Online & in-store market research and customer segmentation using statistical methods: creation of questionnaires, analysis of results, derivation of customer segments, analysis of characteristics and growth potential per segment
Derivation of specific recommendations regarding product assortment, store design, service, and multichannel options
Additional organizational review covering purchasing, sales, and e-commerce departments

Result

Specific recommendations regarding target group focus and expansion, assortment, customer advisory, multichannel strategy, and organizational development