Our client is an MNC apparel brand with great products, committed promoter backing and an established production center in India. In-spite of strong fundamentals, the brand was not able to grow in the competitive context.The parent company approached Centric for retail strategy, based on our credentials in apparel marketing and trade management.
Engagement Overview: Centric was engaged to help re-position the brand from a marketing and sales perspective. Our brief was to evaluate the current retail strategy, identify barriers to growth and determine potential levers for trial. The engagement would dovetail into a business plan that would identify the path toward profitable growth over a definite period of time.
Methodology : We began the engagement with an extensive understanding of the consumer and the competitive context – to determine a relevant and compelling brand strategy suitable for the Indian market.
- Consumer Profiling : Insight distilled from a mix of Secondary research + Customer Interviews + Observation Research. Our research tools included proprietary social media analytics that help us get a detailed pen picture of the real user of the brand.
- Product Feedback : Merchandise trends using a mix of Mystery Shopping + Shopper Observation studies + Wardrobe audits
- Trade Audit : Partner feedback using our extensive connections with modern trade to understand barriers to distribution presence
Brand Review : Based on our research, we recommended the brand re-position itself to sharply address the needs of their Indian customer. In terms of retail strategy, implications were in terms of merchandise mix, point of sale visibility and communication pointers. Our findings indicated clear areas of improvement with respect to product, pricing strategy and trade relationships. We advised the firm to work on overhauling their key account relationships and work with buyers for profitable growth within a definite time frame.
Product Mix, Marketing Communication & Retail Strategy : Based on our recommendations, the client changed their product mix to make it more attractive to the end consumer while remaining lucrative for trade partners. They also invested in premium Point of Sale merchandising initiatives to encourage trials in premium department stores.
In terms of Retail Strategy, we worked with the client to identify the critical distribution partnerships that would help them achieve desired scale within the required time frame. As part of the engagement, we worked closely with the leadership team on negotiating beneficial agreements with the above mentioned trade partners and provide on-going sales advisory services (Outsource CSO) to ensure sales is on track.
Read more about Centric’s approach towards Retail Strategy in Action