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“The COVID-19 pandemic has had a severe impact on the commodity prices and demand for essential and non-essential items. Besides, recent studies show that two out of five people in China are focusing on health and well-being in the light of COVID-19. As such, food retailers in China will need to revisit their sourcing strategies, streamline product offerings, and assess the agility of their supply chain operations,” says an industry expert at Infiniti Research. For more insights into our solutions portfolio, request more information.
Business Challenge:
The client is a global food retail manufacturer and supplier with manufacturing units in China. The client faced difficulties in addressing consumer shifts such as the increasing focus on health and well-being, and rising preference for local brands. Due to this difficulty, they encountered a steady decline in sales for three consecutive months. Home delivery orders increased rapidly, and the client faced challenges in meeting customers’ delivery requirements. The client noted that consumers were interested in reasonably priced products and realized the need to scale up e-commerce channels and their home delivery capacity. Therefore, the client wanted to revamp their pricing strategy and understand potential market opportunities in the second half of 2020. The food retail industry client partnered with Infiniti Research, to leverage our market opportunity identification solution, to take longer-term actions to succeed in the post-COVID-19 business environment.
Our Approach:
Infiniti’s research experts recommended a market opportunity identification solution. This comprehensive approach to assist the food retail industry client included the following:
- A market segmentation analysis to help segregate customers based on their value for the brand
- A financial analysis of the company to help the client examine spend and identify potential reductions in cash outflow
- Prioritizing and selecting best-fit opportunities to formalize technology acquisition strategy
- A detailed addressable market analysis of market opportunity in terms of market attractiveness, competitive factors, and end-user preferences
- Mapping a strategic journey to financial resilience, a digital operating model, and anticipating a shift in consumer buying behavior
Business Outcome:
With Infiniti’s market opportunity identification solution, the food retail industry client was able to stay abreast of the impact of COVID-19 on their business operations. With the market segmentation analysis, the client was able to communicate about safety procedures in-store and for online deliveries, which helped build trust and retain valuable customers. Also, the client was able to identify new ways to achieve a reduction in cash outflow. Further, they were able to adjust inventory for the post-COVID-19 period. Additionally, the client enhanced their digital presence, which helped maintain engagement and boost online sales. To read more about the business outcome of our market opportunity identification solution, read the article here.
Infiniti’s research experts are equipped with the expertise and skill set to provide practical, strategic, and actionable market intelligence solutions to food retail industry clients. Request a free proposal for comprehensive insights on market opportunities and shifts in consumer buying behaviors.
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
