Market research-based refinement of the positioning and assortment strategy of a jewelry retailer
Challenge
Jewelry and watch retailer wanted to validate the corporate strategy and discover potentials for gaining additional market share
Approach
Online and PoS market research and market segmentation according to CHAID methodology for a better understanding of customer preferences and fields of action
Creation of the questionnaires
Evaluation of the results via SPSS output with regard to the strongest determinants of purchase and non-purchase
Derivation and aggregation of relevant customer segments
Analysis of the characteristics, preferences, customer satisfaction, growth potential, etc. per customer segment and main competitor
Derivation of concrete recommendations for action regarding style, selection, value, changes, presentation and fitting of the range, intensity and content of the advice as well as multi-channel options
Review of the organization in the areas of purchasing, sales and e-commerce by analyzing the FTE and cost structures, areas of responsibility and interfaces
Result
Specific recommendations for action regarding target groups, product range, customer advice, multichannel strategy and organizational development