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Business Challenge:
The client is a fashion retailer based out of Germany. They encountered a steady decline in their sales rate for two consecutive years as they focused on cutting costs instead of investing into acquiring new customers and increasing revenue. This resulted in price wars with their competitors and had a negative impact on the company's profit margins. Therefore, before setting prices for their new products, they wanted to carry out a thorough analysis of their competitors' pricing models.
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Business Outcome: Infiniti's competitive pricing strategy engagement helped the client to competitively set prices for their products. Also, by continuously tracking their competitors' products and prices over time, they were able to adjust their prices accordingly to achieve a higher rate of success.
Besides, the client was able to:
- Make rapid changes to their prices to compete in the market and maximize profits
- Regulate the competition by preventing the loss of customers and market share to their competitors
- Curtail losses in market share and adopt cost-effective marketing and discounting strategies based on the market competition
- Retain their valuable customers and enhance sales by 21%
Our experts can help companies in the fashion retail industry to optimize business agility and reduce costs. Request more info here.
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
