The Business Challenge
The client – a developing online fashion retail company – was facing predicaments in selling their products. They were finding it hard to position their products in such a way that they can compete with the leading online retail channels in the international market. This compelled them to assess the global market dynamics and drivers that were impacting market trends. They also wanted to develop a market research report that can offer insights into the current situation in the retail market. Moreover, they were looking forward to analyzing competitors’ category strategies to compete with top-level companies in the industry.
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To help the retail e-commerce company devise effective marketing strategies that can tap the potential growth opportunities, the category market intelligence experts at SpendEdge tailored a comprehensive market research methodology. The extensive market research methodology included primary and secondary research coupled with meticulous qualitative and quantitative data collection techniques.
With the aid of the category market intelligence report, the client was able to analyze the performance of the market in a span of two weeks and obtain detailed insights into the latest trends and developments that were going to define the global market. By targeting the online consumers’ niche, the ecommerce company created an exclusive range of fashion products and achieved a 150% hike in sales after implementing the category market intelligence solutions. Furthermore, our experts offered a category market intelligence report that provided them with the overview of the competitor companies in the international market and the procurement best practices that they can follow. This helped the client to gain buyer insights, analyze risks and understand problems pertaining to suppliers.
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The category market intelligence solutions helped the client to gain accurate buyer insights and improve their sales by 150%. The analysis of the competitors’ category strategies guided the company to formulate effective marketing strategies that can maintain the sales by managing key risks in the supply chain.
What Is the Importance of Category Market Intelligence Solutions?
The category market intelligence solutions help companies to determine market size related to their products and gain detailed insights into the latest trends and developments. Additionally, it prepares companies to mitigate risks such as financially unstable vendors, fluctuations in commodity prices, regulatory change implications, and upstream supply chain interruptions in procurement.