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“Modern customers value brands that identify their individual needs and meet their rising expectations. As such, retailers need to adopt a more personalized strategy to drive foot traffic and grow share-of-wallet. Through target market segmentation, brands can improve return on investment through a buyer-based marketing strategy,” says an industry expert at Infiniti Research. For more insights into our solutions portfolio, request more information.
Business Challenge:
The client is a fashion retail industry company based out of North America with 30+ outlets in the region. Traditional demographic segmentation methods proved ineffective in addressing the needs and requirements of client’s target consumer groups and they had limited marketing resources. Therefore, they wanted to understand their customer base by considering individual profiles, behavior, and transaction history. They also sought to create tailored marketing approaches across different channels. Most importantly, the fashion retail industry client aimed to move from generic promotional offers to a targeted approach. The client approached experts at Infiniti Research to leverage their expertise in offering target market segmentation analysis.
Our Approach:
Infiniti’s experts developed a comprehensive approach to assist the fashion retail industry client. The target market segmentation involved:
- Gathering customer data, creating a roadmap, developing a deep understanding of the segment profiles, and quantifying financial opportunities by segment
- Desk research to analyze the North American fashion retail industry
- Validating the segment profiles and conducting focus groups, as well as qualitative studies to understand the reasons for customer churn
- Identifying purchasing trends across multiple demographics and create successful marketing strategies
Business Outcome:
Infiniti’s target market segmentation analysis enabled the fashion retail industry client to identify their customers’ individual needs and meet their expectations. They were also able to identify purchasing trends and create targeted marketing strategies and provided actionable data to prepare their sales strategies better. By thoroughly analyzing customers’ spending history, the experts were also able to identify the strengths and weaknesses of their marketing campaign and business model. Further, the market segmentation analysis helped the client to develop high-value customer engagement strategies, maximize ROI on marketing, and drive more cost-effective marketing. To read about more business outcomes of the target market segmentation analysis, 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 fashion retail industry clients. Request a free proposal for comprehensive insights on consumers’ buying behaviors and creating tailored marketing strategies.
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
