The Retail industry is facing significant challenges every day, particularly due to the changes forced upon the market due to the COVID-19 pandemic. The growth of online purchases adds pressure to traditional store models and demands new distribution channels and service levels. Consumers are demanding more value per dollar spent. Their needs are changing - some have come to expect highly customized products and services, while others are moving away from consumerism, towards a more sustainable model.
Our recent engagements include:
- Working with a client to determine whether their perceived price positioning was reflective of the value that was being offered. We looked at whether their positioning needed to be changed in order to attract new customers while not alienating their loyal customer base.
- We helped a client understand what aspects of their customer’s shopping experience needed to be redesigned to address new and emerging needs and behaviours.
- We helped define what the demand for online shopping was for a client's merchandise and how this channel was impacting the role of their brick and mortar stores.
- We have identified the trade-off between high-value and price across different merchandise and departments.
- We have developed an understanding of how the emergence of the online couponing offering is impacting retailers across the country.