A well-known market research company, Infiniti Research, has recently announced the completion of their latest customer segmentation study for a fashion retail brand. During the course of this study, the experts helped the client to increase their overall revenue by 20% and achieve 2X rise in customer retention rate. Also, Infiniti's customer segmentation strategy empowered the client to differentiate their brand from the global competition.
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Customer segmentation study for a fashion retail brand. (Graphic: Business Wire)
Owing to the developments in today's technologically inclined world, companies in the fashion retail sector find it hard to keep a constant watch on the changing trends and understand the dynamic customer demands. The inability to do so results in a considerable decline in their market share. To overcome such challenges and to avoid being left behind, it is vital for companies in the fashion retail industry to have a customer segmentation model.
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The business challengeThe client is a renowned fashion retailer based out of Central Europe. The company witnessed a substantial reduction in the number of frequent buyers. Also, they faced a decline in their overall sales rate. By undertaking a detailed market analysis, they wanted to better understand the European fashion retail industry. With Infiniti's customer segmentation analysis, the client wanted to keep a constant watch on the changing trends, examine customer behavior, and devise effective strategies to better understand the changing customer needs.
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The solution offeredThe experts at Infiniti Research conducted a detailed study of factors such as customer needs, attitudes, and behaviors. This helped them uncover lucrative customer segments. They were also able to determine the profit potential of each segment by analyzing its revenue and cost impact. In a short span of 8 weeks, the client was able to transform their operational model into a more segmented, customer-relationship based structure. As a result, they were able to improve their wallet share and overall revenue by 20%. Also, the client witnessed a 2X rise in their customer retention rate.
Infiniti's customer segmentation solution helped the client to:
- Improve their wallet share
- Break through the cluttered market space with a unique and convincing proposition
- Wondering how your business can benefit from Infiniti's customer segmentation solution? Request more information from our experts!
Infiniti's customer segmentation solution offered predictive insights on:
- Determining the profit potential of each segment by analyzing its revenue and cost impact
- Analyzing key performance indicators and identifying improvement opportunities
- Interested in achieving high growth for your business? Get in touch with us to know how our customer segmentation solution can help.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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Contacts:
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
