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Retail
Helping various retail formats to enhance user experience, improve efficiency & track competitors to improve overall business performance through on ground cutting edge research
What we do
- What is the opportunity size? What are the key products? What is their market share?
- How fast are the various categories growing? What are the key growth drivers and inhibitors?
- What is the channel mix for various products / categories?
- What are the different customer segments for both offline / online channels and how do requirements vary across product categories?
- Who are the key competitors and what are the attributes of their product categories?
- How does the brand’s / player’s existing categories compare to those of key competitors?
- What is the potential business upside/ risk across customer segments?
- What are the latest trends in the market / geos? How is the growth of these trends over past 5 years and what are the key growth drivers?
- What are the innovative business models that have come up in the segment? How have they grown?
- What are the key players operating in each product category? How do they stack up against each other on key economic parameters?
- What needs & gaps in demand are they fulfilling?
- What are the upsell & cross sell opportunities which exists to the core product?
- What are the various type of categories which exist in the sector? Who are the various players existing across the categories identified?
- What is the differentiation in the business model of various players? Which business models are doing better compared to others?
- How is the sector evolving in terms of technology adoption and digital penetration? What are the other growth drivers in the sector?
- How are the traditional incumbents competing with new age players? What are barriers to entry in the sector?
- What does the procurement process and value chain look like? How is it different for online vs. offline vs. hybrid?
- What are the typical trade margins across the value chain? How do the vary across categories?
- What does the unit economics of key types of retail outlets (across segments – apparel, groceries, etc.) look like?
- What are the key pain points of retailers and other trade partners?
- How likely is the customer to promote respective brand / retailer? How does the customer perceive various brands in the segment?
- How does the NPS vary across regions and products and how does it compare with key competitors?
- What are the key drivers of NPS?
- What are the triggers that would make customers shift to another brand / retailer?
- What are the relative strengths and weaknesses that have the highest impact on NPS?
- What kind of schemes / offers / sales / memberships usually retailers offer to attract loyalty of customers? What impact these have on revenue in terms of volumes & value?
- How is the loyalty scheme working for customers? Does it attract customers. Are they renewing memberships? If not, why?
- Which players are customer most satisfied with across product categories and why?
- How has their experience been with different offerings across different product categories?
- What are the reasons for preference of a particular retailer / brand over others?
- How do clients rate the sales and service experience? What are the gaps in the customer journey?
- What are the improvement areas across product categories?
- What are the key elements to provide a comprehensive client experience?
- How did the customer become aware of the brand / player?
- What are the various touch points with front end staff with the customer?
- How easy / difficult it is for customer to identify sections / products of his choice in stores?
- Does the customer like to try the products / see a demo before purchase?
- What are the payment methods available to complete the purchase and what do customers prefer the most across consumer segments?
- What is the return / exchange / refund policy?
- How fast is complaint resolution? What is the post-sales service process like?
- What is the intention or occasion of the purchase?
- What influences shopping decision to shop alone or with family / friends?
- How impulsive is the buyer for products which are not listed on shopping list to buy? How is it impacted by schemes or discounts?
- How far is the budget stretched due to impulsive shopping?
- How flexible is the consumer in trying new categories serving the same purpose?
- How important does price, quality, variety play in the buying needs of the customer?
- What type of customers buy various product categories in terms of demographics - age, sex, education, HHI, city etc?
- What is the NCCS profile of these customers?
- How can classification be done based on demographics, needs, buying behavior etc.?
- What are the key purchase criteria segment wise?
- How does spend vary as per various customer segments?
- What are some of the unmet needs customer segment wise?
- What is the digital presence of the consumers like – online shopping, OTT, digital payments, etc.?
- What is the digital footprint of customer in day-to-day life across social media, services app, entertainment apps etc?
- How much is customer spending both in terms of time & money on various digital mediums?
- What is the source of awareness for various digital mediums?
- What is the role of influencer marketing in digital adoption?
- Is it habit forming or need based adoption? How does peers, friends & family influence the decision?
- What is the loyalty for any particular app? What are the usage characteristics for a particular app – DAU, MAU, time spent, etc.?
- What is the digital footprint of customer in day-to-day life across social media, services app, entertainment apps etc?
- How much is customer spending both in terms of time & money on various digital mediums?
- What is the source of awareness for various digital mediums?
- What is the role of influencer marketing in digital adoption?
- Is it habit forming or need based adoption? How does peers, friends & family influence the decision?
- What is the loyalty for any particular app? What are the usage characteristics for a particular app – DAU, MAU, time spent, etc.?
- What is the overall consumer experience in shopping?
- How is the ambience of retail stores, staff interaction, schemes & offers etc?
- How is the packaging of the product? What are the varieties offered?
- How is the ATL / BTL marketing?
- What kind of layout is there in stores and how are products stacked in shelves?
- What are the key pain points which consumer faces in the whole purchase journey?
- What are the various activities undertaken to have a constant engagement with employees?
- How regular are these activities and how is the overall participation of employees?
- Are there regular team building activities?
- What kind of trainings are being given to employees on a regular basis to upskill?
- Are there any other benefits given for professional development?
- What is the employee perception of the values of the retailer?
- How satisfied are the employees with the retailers across different parameters?
- What are the areas of strength which employees would like the retailers to continue and build on?
- What are the key improvement areas?
- How satisfied are the employees with their career path in the company?
- How likely are the employees willing to recommend the retailer to others?
- What is the nature of opportunity in each micro-market? What are the typical customer requirements of these micro markets?
- How has been the growth trend in demand vs supply for each micro market?
- Who are the key competitors and what are the attributes of their offerings in each micro-market?
- What is our market share (points of presence/ sales capacity, number of customers, business volumes/revenues)? How does it compare with competitors?
- How do our existing offerings compare to those of the market leader?
- What is the potential business upside/ risk across micro-markets?
- What is the kind of format which works for a particular player with retailers? COCO, FOCO, FOFO?
- How many retailers / franchisees are currently existing?
- What kind of margins are available in various forms of ownership?
- What kind of footfall is there and what is the conversion? How does it affect revenues – ABV, etc.?
- What is the experience around delivery / stock replenishment of products to the retail store and dealing with brand people? How easy or difficult it is to maintain stock levels?
- What do trade partners like about the retailer? What areas need improvement?
- What is the structure of sales organization vis a vis competitors? What are the incentives given to the sales team?
- What is the demographics of distributors & terms with them?
- How are various cost heads compared with competition?
- What are the areas of improvement for the retailer with respect to competition to improve channel efficiency?
- What are the global best practices for sales & distribution of the said product categories?
- What are some of the short-term and long-term actions that can help optimize processes?
- What is the degree of brand awareness with respect to competitors? What is the aided and unaided recall like?
- What are the key values associated with the brand?
- What are the typical avenues for introducing brand to customers?
- What is the effectiveness of various channels for brand introduction?
- How does brand awareness change with consumer demographics, geos, etc.?
- How important is brand in the sale process?
- What are some of the best practices to strengthen brand value?
- What is the perception of the advertisement campaign content?
- What is the annual advertising spend & ROI? How does it compare to competitors?
- What are the advertising channels deployed? Where does it lack compared to industry?
- What is the effect of advertisements on purchase intent?
- Which ads are performing better than the others?
- What is the impact of a brand ambassador / marketing influencers on advertising?
- Which channels are most effective in reaching customer?
- What is the effectiveness of product / concept?
- How to do the pilot testing of the brand / store? What should be the target audience? Why?
- How to get customer feedback on proposed new store / product launches?
- What is the ideal methodology for testing new store / product concepts? What should be the sampling plan?
- What are the strengths and weaknesses of new concept?
- What should be key message and tonality while advertising the new launch?
- What is the optimal beta launch design for a store?
- What product variants are offered by competitors? What are their price points? What are the difference in offerings?
- For the same raw materials, how does the procurement price stack against the competition?
- What are the features for which the customer is ready to pay the premium?
- What is the different promotion used to lower price across periods?
- How can price be used as a strategy to win market share?
- What is the product width and depth of the category?
- Where are the whitespaces in the portfolio – by price, feature, brands?
- How well does the product catalogue address potential customers?
- What are the over or underselling products? Why do they perform that way?
- What are product offerings of key competitors? What are their largest selling products? Are there products that can be adopted?
- What are the other products that can be carved out from the existing products (bundling, sub-products, etc.) to meet unserved customer requirements?
- How can the catalogue be improved for better conversion?
- What is the percentage of shelf space offered by retailers to different brands?
- Are there any product offerings relevant to customers but not available to them? If yes, why?
- What is the on-ground product availability and visibility across geos and store types? How does it compare to competition?
- What are the weak geographical areas in terms of availability & visibility?
- What are the deciding factors for the shelf space?
- Where are retailers facing shortage of SKUs?
- What is availability of fast selling SKUs vs low selling SKUs?
- What is the replenishment time for key products? How does it affect availability?
- How does the brand visibility vary locations and geographies?
- What is the total addressable market for the product categories?
- What is the share of serviceable available market?
- What should be your target customer segment? What are their typical personas and preferences?
- What is the customer journey for the target customer? Where is it broken? Where can it be improved?
- What is the competitive intensity in the region? What should the communication strategy be to cut through the noise?
- How is the market evolving? What segments are driving growth of the market?
- How to develop the value chain necessary to run operations, from supplies to legal permits?
- What is the footfall over weekdays / weekends? How does it differ for location types like high street / malls / standalone stores?
- What is the wait time for customers to be served in a retail store?
- How much time is customer spending inside the store when shopping is done & when shopping is not done?
- What is the conversion ratio of the total footfall? What is the ABV?
- What are the reasons of seeing a spike in footfall at a particular given time and how can overall footfall be increased?
- What is the structure and breakup of cumulative cost and margins across various store formats? What are major cost heads?
- How are various cost heads and margins compared with competition?
- What is the unit economics as compared to competitors? Where do they perform better? Why?
- What is the rent to revenue ratio? What is the spsf?
- What are the global best standards of unit economics?
- What are some of the short-term and long-term actions that can help maximize margins?
- How much of the store design and layout is standardised?
- How much time & cost does the standardised format entail and what is the other non-standardised costs involved?
- How does it compare with competitors on a per square feet basis? How much area is utilized for showcasing products?
- How is the walking space and shelf arrangements compared to competitors?
- How does the signage & other aesthetics compare against competitors?
- Are the products arranged in a manner making it easier for customers to browse and purchase items?
- How to increase in-store time for customers?
- What is the pattern seen in shopper’s movement inside the store?
- What is the total time spent in the store? How can it be increased?
- Which sections shopper’s spend more in terms of time?
- How is the flow affected by family shopping vis a vis individual shopping?
- How is the total spend related to the flow?
- How can revenue be maximized by analysing the flow and attracting shoppers towards high margin products / brands?
- How do the key metrics of business processes (e.g. turnaround time, first-time right, NPS, etc.) compare with competitors?
- What are the areas of process improvements based on a time and motion study?
- How does the product / brand compare with competitors in terms of features, cost, usage, composition etc?
- What is the market share of each competitor micro market wise and what are the pain points of various customers?
- Comparison of best practices of competitors
Category assessment
- What is the opportunity size? What are the key products? What is their market share?
- How fast are the various categories growing? What are the key growth drivers and inhibitors?
- What is the channel mix for various products / categories?
- What are the different customer segments for both offline / online channels and how do requirements vary across product categories?
- Who are the key competitors and what are the attributes of their product categories?
- How does the brand’s / player’s existing categories compare to those of key competitors?
- What is the potential business upside/ risk across customer segments?
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Why 1Lattice?
Tech Enabled
Quality of Insights
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