Digital retail strategy assist brand to accelerate Market Penetration

Strategy as a Service - Assisting FMCG company to globalize

The Situation:

RetailCo*, an established Mother and Baby brand in China (Taiwan) with more than 45 years of expertise, was ready to expand beyond their shores to Southeast Asia. They needed a new strategy to guide their way in this new market. They asked Keyhole Insights to work with Quick Retailing Pte Ltd, their exclusive distributor in Southeast Asia, to develop a new strategy.

As a Mother and Baby brand entering a foreign market, RetailCo face strong incumbent brands that have established huge groups of loyal customers. Our team was tasked to conduct study on the target market to come up with the pricing, channel and the overall brand strategy in the Singapore market.

At a Glance

No. 1

Product category ranking in SEA top Marketplace

45%

Compounded Monthly GMV Growth Rate

6

Established Sales Channels

Our Approach

KeyHole Insights and Quick Retailing collaborated through the project and worked together to define RetailCo's digital strategy and roadmap.

Market Research

We performed study and analysis to reveal market size and analyse the competitive landscape. With that, we were able to determine the market positioning for RetailCo as well as derive TAM, demand curve to conduct aid in pricing and market segmentation.

Consumer Survey

Through our proprietary survey methodology, we conducted customer research to understand their preferences and needs. The insights gathered on their consumer journey were used to guide the development of the pricing, sales channel and marketing strategy.

Strategy Workshop

After understanding the 3Cs - Customers, Competition and Company, we moved on to the diagnosis and the crafting of action plan. Together, we defined the long and short-term strategic goals for RetailCo. With the data and insights gathered in the market research and consumer surveys, we assessed and determined the relevant product mix, pricing, sales and marketing channels.

The analysis and solution that were delivered as part of this engagement includes:

• Competitve landscape analysis
• Product assortment analysis
• Channel strategy
• Country strategy
• Product pricing recommendations
• Product packaging localization recommendations
• Consumer insights & Segmentation
• Van Westerndorp pricing sensitivity meter
• Management Interview

Recommendations

We recommended that RetailCo commence with a full digital strategy as this allows them to streamline their resources and efforts. With the covid-19 pandemic, footfall to brick & mortar stores are expected to decline significantly while demand for online shopping shot up.

• Some of the recommendations provided to RetailCo include:

• Product pricing model across Southeast Asia, including official store, marketplace, resellers, distributors
• Product assortment mix
• Product packaging and digital marketing collaterals messaging
• Ecommerce marketplace strategy
• B2B and B2C strategy
• Marketing strategy including social media advertising, influencer marketing, social media
• Country and Channel strategy
• Analytics from ecommerce operations were feedback for SEO and ads keyword optimisation, achieving ads ROI of 4x.

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