Tag: market research

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How Category Market Intelligence Services Helped a Retail Company to Increase Sales by 150% – A SpendEdge’s Success Story

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.

Is your business revenue dwindling due to heavy market competition? Get in touch with our experts and know how our category market intelligence services can help you to analyze the global market trends and devise effective marketing strategies.

Solutions Offered

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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Key Findings

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.

Assessing market dynamics and predicting market sizing requires a great deal of expertise. Request a free demo and know how our experts can assist your company with effective category market intelligence solutions.

 

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4 Steps to Getting Market Size Estimation Right

Market research is essential in the development of a business, regardless of the industry that they operate in. Market size estimation forms an integral element of any market research study. Market size estimation helps in understanding the potential revenue that could be generated by your business and should be a major consideration in your business strategy, as well as a determining factor of the products or service offering of the company. An effective market size estimation provides insights that can drive the future success of the business, including potential market size, or the total number of buyers for the product or service. The implication of market size estimation for any business success includes competitive advantage, profitability, business strategy, consumer behavior, and market trends — all of which has a great influence on a business’s path to growth.Contact US

Steps in Market Size Estimation

Define the market

One of the first steps that enterprises must undertake during a market size estimation process is to define their target market. A company’s target market involves customers for whom the company’s products or services solve a particular problem or meet their demand. Having a clear idea of the market would help companies in accurately determining the market potential and estimate the available share of the market.

Determine the approach

There are two basic methods of market size estimation: the top down and the bottom up approach. The top-down methodology determines the percentage that the target market represents by using a broad market size figure. For instance, for market size estimation of the food packaging industry, retail sales of packaged food can be multiplied with an assumed packaging cost. However, one of the major drawbacks of this approach is that it seldom provides the detail necessary for a true opportunity analysis. The bottom-up methodology involves totaling the main variables of the target market. This approach is considered to be more accurate, however, takes considerably more time to complete.request proposal

Select the source

This step is concerned with identifying the sources of data for market size estimation. Businesses can either choose to undertake primary research or a secondary research. Secondary research searches for existing data and is the most commonly used as it is quicker to obtain and therefore usually more cost effective. Primary research, on the other hand, is often used in addition to secondary research. The primary research can strengthen your understanding of the market, allowing you to make better-informed assumptions.

Analyze the competitors

It is essential for every business to know what their competitors are doing in order to gain an upper hand in the market. This also helps the company to clearly determine their market share. Identifying competitor strategies will help companies to formulate better tactics to draw the customer’s attention and garner a greater chunk of the market share.


To get your market size estimation correct and to gain actionable insights for better decision making.

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Top 5 Epoxy Resin Suppliers Making a Name for Themselves in 2018: Supply Market Research and Procurement Insights

Epoxy Resin Supply Market Overview

In 2017, most of the demand for epoxy resin came from the paints and coatings and electronics industries.

Epoxies, generally, have favorable properties such as high mechanical strength, superior chemical resistance, superior adhesion, and resistance to heat. Such properties make them ideal for CTA view full reportindustrial applications such as marine coatings, decorative powder coatings, and composites. In addition, the rising demand for epoxies from such industries will result in the steady increase in spend growth rate over the next couple of years. According to SpendEdge’s procurement report on the epoxy resin category, the market will witness an increase in the spend potential, driven by the booming demand for epoxy resins from the automotive and aerospace end-users.

Given the fact that the supply market for epoxy resin will witness an increase in the spend potential, a question that arises here is: what are the major supplier selection criteria and how to select the best suppliers for effective category management?


Top epoxy resin suppliers:

  1. Nan Ya: One of the top epoxy resin suppliers, Nan Ya was founded in 1958 and is headquartered in Taiwan with offices spread across 50+ countries. When it comes to epoxy resins, Nan Ya has two bases in Shulin and Mailao (Taiwan) and two in Kunshan (China). Over time, the company has increased its annual capacity from 18,000 MT in 1988 to more than 461,000 MT in 2015 to cater to the rising need for epoxy resin from various end-user industries. Want more information? Download a FREE sample.

 

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