Food Retail Industry Category Planning
Among multiple segments within the retail industry, the food retail industry has surfaced as the most powerful and fast-paced sector with several players venturing into this marketplace. Globally, food retail stores are witnessing considerable growth owing to altering customer preferences, a radical shift toward online shopping, and a rising global population. As shoppers have already begun gravitating towards food trends that will liven up their senses and bring something they’ve never experienced before, consumers are constantly on the lookout for experiences that reflect global trends.
Moreover, relentless pressure from online rivals and innovative specialty retailers along with sluggish economic growth rates have made it difficult for food retail stores to establish their global presence. Additionally, the ever-stiffening competition has eroded traditional food retail stores’ profit margins, prompting them to cast about for wellsprings of new growth and enhanced profitability. Thus, by leveraging a category planning strategy, food retail stores can manage the supply of products across the target segments and accordingly position their product offerings in the market.
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About the Client
The client is a prominent player in the food market. Since its inception in the early ’90s, the company has become well-known for its innovations within the global food retail industry space.
The client, a global food retail industry company wanted to understand customer buying habits and the decision-making process in terms of cultural, personal, and social factors to position their products effectively. Additionally, by leveraging category planning engagement, the client wanted to profile the target customers and differentiate their product offerings to provide a superior value to their customers through personalization.
Quantzig’s category planning engagement helped the food industry company to address problems pertaining to the additional spends and gain up-to-date market insights in terms of the nature of players and the cost drivers. Additionally, with the aid of this category planning engagement, the client was able to gain real-time insights into the potential opportunities to drive value and increase stakeholder engagement. This subsequently helped them identify target commodities, opportunities, and enhance ROI. Additionally, the category planning engagement helped the food retail industry company to comprehend the customer buying preferences and accordingly position their product offerings in the market.
To make sure your business is one step ahead of the game, it’s time to get your head around the latest trends and employ category planning engagement. Get in touch today.