We helped a fashion retailer which was experiencing declining sales and market share over a number of years. Within 8 months, sales had jumped 23% year-on-year. Our turnaround strategy relied on robust customer segmentation which led to a successful revitalisation of the brand.
increase in YoY sales within 8 months
increase in consideration amongst target segment
Fashion Co.* had been a successful one, with a high degree of awareness in the market which was built over more than 10 years.
It maintains a good reputation. However, in an attempt to keep up with the market, its product portfolio has grown and led to dilution in brand identity and consumer confusion. In addition, from qualitative research, we found that a number of customers thought that the retailer was behind the curve on several key items.
Customer insights and research
We conducted a number of focus groups and surveys amongst consumers. These were split by various consumer types, including loyal customers, lapsed customers, and non-customers. In addition, we also conducted a deep-dive into customer feedback that the client has been collecting and tracking.
Through this research, we obtained valuable insights into the customer journey, key factors, and clues to the root causes of the problems that the client was facing.
Using data and insights gleaned from the previous phase, we identified the most profitable customers and market opportunities for our client. We also provided the go-to-market approach for each segment, embedding this within their business processes.
Brand research and DNA
Because we found that the brand had lost its way over the years, we worked to identify the core DNA of the brand. This was achieved through loyalist research, going through the company archives, and stakeholder interviews.
We refocused the brand on its core attributes, and communicated that position clearly to the high-potential target segment. We invested in advertising and watched the numbers grow. Within 8 months, year-on-year sales had increased 23% and in the next brand tracker, we saw significant improvements across the board for awareness, consideration, and brand affinity.
*We take our clients’ confidentiality seriously. While we’ve changed their names, the results are real.