Competitive Insights for a Major Retailer

A major apparel retailer wanted to understand how their prices across a range of products compared to those of rivals.

Our Solution

• Using our internal consumer research data, we helped the client define the competitor set relevant for the exercise.
• We then used shopper insight to create a basket of the most regularly purchased apparel products.
• Our team of auditors then visited a representative sample of stores for both our client and its competitors, in each retailer the lowest price for each of the items in the basket was recorded.
• Other details, such as discounting and style and quality information was also recorded for reference.
• Once the audit was complete we analysed the spread of prices and created indices to compare our competitor set, both for the overall basket and for individual products.
• We provided recommendations on which prices could be adjusted.

Outcome

Our client increased prices on a majority of products, allowing them to increase profit while remaining competitive.