New Retail Opportunities Build Brands
what was up
A leading domestic outdoor furniture manufacturer faced competitive challenges in a tough economy: with shoppers cutting back on home products and the rise of off-shore competition, its retail customers (predominantly independent specialty chains) were losing share to mass merchandisers and home improvement stores.
what we knew
The company had to find new ways to help its existing customer base compete with discounters. But we knew that would not be enough. The company needed to find new retail opportunities to grow, and it needed to brand itself more effectively for shoppers and retailers to do so.
what we did
- Analyzed our How America Shops® research to better understand shopper and retail trends that might provide opportunities
- Conducted custom research with home furnishing shoppers to understand their needs and changing shopping behaviors
- Assessed product assortment and retail competition to understand need gaps with existing retail distribution, and recommended changes
- Identified the Contract Segment (hotels, cruise ships, etc.) as a growth opportunity and conducted interviews with potential companies to understand how to do business in the segment
- Identified Direct-to-Consumer/Online as a growth opportunity, and helped the company develop appropriate products
- Helped the company brand itself more aggressively through an industry newsletter, and speeches at industry conferences
how we did
The company is growing sales again with existing accounts. (That was the hard part.) The new business base is growing. The company is now recognized by retail clients, shoppers and the industry at large as a company on the move. But we're not stopping there. We continue to work with the company to build on the initial successes.