Diagnosing Sales Decline for a Well-known Apparel Store - Divergent Insights

Diagnosing Sales Decline for a Well-known Apparel Store

Business Situation

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

Finding Facts

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

Solution Implemented

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

Outcome

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