SpendEdge, a leading provider of category market intelligence solutions, has announced the completion of their latest newsletter on assessing competitors’ category strategies and risks with the aid of category market intelligence solution. The article offers detailed insights into the benefits of category market intelligence solution reaped by our clients. The article also highlights how our category market intelligence services helped companies to boost sales, assess market dynamics, analyze competitors’ category strategies, and manage frequently sourced categories.
Boosting Sales by 150% for an Online Fashion Retail Company
Rising global competition makes it difficult for companies operating in the retail industry to position their products and compete with the leading online retail channels. A developing online fashion retail company was facing predicaments in assessing global market dynamics and drivers that were impacting market trends. They wanted to analyze the retail market and assess competitors’ category strategies to compete with top-level companies in the industry.
The category market intelligence report offered helped the client to obtain detailed insights into the latest trends and developments that were going to define the global market. This helped them gain an overview of competitor companies in the international market, obtain accurate buyer insights, and analyze risks. An exclusive range of fashion products was also created by the client targeting the online consumers’ niche that resulted in a 150% hike.
Managing Frequently Sourced Categories by Devising Category Market Intelligence Strategies
Enhancing category expertise and intelligence across all critical areas of the supply network has always been a tumultuous task for companies. One of our clients, a leading transportation services provider wanted to leverage our category market intelligence solutions to build world-class procurement solutions. They wanted to gain granular supplier-specific information to manage frequently sourced categories.
Our category market intelligence experts developed an internal intelligence unit for managing the regularly sourced categories. This involved making the right investments in the category intelligence tools that focused exclusively on a specific supply market. The solution offered helped the client to obtain comprehensive insights into the different categories within the supply network and improve procurement efficiency.
Capitalizing on the Potential Market Opportunities and Identifying Risks
With the growth of the portable air conditioner market, companies are compelled to invest in specialized equipment and cutting-edge technologies. They are required to set prices competitively to avoid losing customers to other peers. The client, a prominent portable air conditioner company with business units spread across the globe decided to leverage our services to gain insights into the market landscape in terms of market drivers, dynamics, and niches. They wanted to capitalize on the opportunities to gain better visibility into their supply chain activities.
During the course of this engagement, our category market intelligence experts followed a blended approach comprising of interviews and discussions with leading stakeholders in the HVAC industry. They analyzed competitor’s category strategies and assessed the potential risks to comprehend suppliers and the cost structure. This helped the client to gain better insights into the buyers, the potential risks, and product portfolios.
