The major grocery retailer
Understanding how to make strategic growth decisions and unlock the growth potential of existing stores
This major grocery retailer came to Beyond Analysis as they needed our help to understand:
- Which potential new locations would be suitable for a store?
- How they could evaluate new sites in ‘non-traditional’ catchment areas?
- How new locations differed from their existing sites and what this meant for their format and service proposition?
- How to drive additional revenue from existing stores, for example by extending their opening times
Beyond Analysis brought together a range of data sources – both internal and external – to help our client develop a deeper understanding of their existing and potential customer groups. We provided them with four customer-centric views into their business:
- A detailed understanding of their customer: who they are, with which competitors they are also shopping, about their shopping habits
- Deeper insight into their local markets: more information about the local competitive environment, the potential value of each marketplace
- Sector and competitor benchmarking: share of wallet, performance compared to their major competitors
- In-depth analysis of their stores: customer spending habits, store performance, customer loyalty analysis
As a result, our client has been able to make better-informed decisions about where they should open new stores, as well as changing store opening times across the estate to boost revenue generation.
Whilst we were at it, we also spotted that one location was underserved in Health & Beauty and consumers were travelling to the next town to go to the pharmacies there. Our client quickly extended the space allocated in store by a few bays and within the month had one of their most successful areas in store for the whole country!
The solution continues to be refreshed and used today, helping this grocery retail business to develop and expand successfully and profitably.