Infiniti Research is a premier provider of market and customer intelligence solutions. With 15+ years of experience and expertise in 50+ industries, our strategic approaches and solutions provide our clients with a competitive edge. Infiniti’s research experts recently announced their latest successful competitive pricing strategy engagement with a fashion retailer. To read more about this engagement, read the article here.
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Competitive Pricing Strategy for a Fashion Retailer (Graphic: Business Wire)
"With the ever-growing popularity of online shopping, the competition in the fashion retail market is on a constant rise. This demands fashion retailers to keep a watch on their competitors’ pricing strategies while setting prices for their products," says an industry expert at Infiniti Research. For more insights into our solutions portfolio, request more information.
The client is a fashion retailer based out of Germany. They were facing losses for two consecutive years due to their focus on reducing costs, as opposed to customer acquisition, and increasing revenue. To improve customer retention, the client began offering discounts that severely impacted their profit margin. Further, it led to pricing wars with competitors. To overcome these challenges, the client sought to leverage Infiniti’s expertise in a competitive pricing strategy. This strategy would also help them decide prices for their new products, prevent loss of market share, and understand their competitors’ pricing strategies.
Infiniti’s experts developed a comprehensive approach to assist the fashion retailer, that included the following:
A market scanning and monitoring analysis to analyze the factors affecting the demand for products
A competitive intelligence study to analyze pricing strategies, business models, and fashion market share of the top fashion retail brands
A competitive pricing strategy engagement to evaluate price gaps between the client and competitors
A market segmentation study to segregate target groups based on buying behaviors, spending patterns, and value for the brand
Infiniti’s research experts are equipped with the expertise and skill set to provide practical, strategic, and actionable competitive pricing strategies. Speak to our experts for more comprehensive insights into the fashion retail industry.
Infiniti’s competitive pricing strategy solution enabled the client to establish dynamic pricing strategies while continuously tracking competitors’ pricing strategies and adjusting their prices accordingly. With the dynamic pricing strategy, the client was also able to make changes according to market demand and maximize profits. The competitive pricing strategy also helped reduce the loss of customers and market share for the client. The client was also able to adopt cost-effective discounting and marketing strategies, retain market share, and enhance sales by 21%.
To learn more about how Infiniti is supporting clients in the fashion retail industry overcome their unique market challenges, request a free proposal.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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