Diagnosing Sales Decline for a Well-known Apparel Store

Diagnosing Sales Decline for a Well-known Apparel Store

Scenario:

 

  • A store of a well-known apparel brand was located at the periphery of a well-known town.
  • The store was witnessing declining sales for quite sometime and wanted to diagnose the reasons for the same.

 

Finding Facts:

  • Wanted to understand the reasons for declining sales.
  • Wanted to figure different segments coming to the store.
  • Wanted to understand the impact of competition environment.

 

Solution Implemented:

  • Reasons for the declining sales basis location, assortment, brand perceptions, promotions, service & consumer cohorts.
  • An understanding of the shopper at the store : attitude and behavior; 5Ws and 5Hs.
  • Reasons for the loyalists to stick & reasons for the lapsers to move out.
  • Existing consumer segments for the store & their respective segment sizes.

 

Outcome:

  • Basis an understanding for declining sales client could develop a strategy to arrest sales.
  • Basis the segmentation, client could develop a product mix for different segments.