Market Research is a Powerful Tool for Modern Retailers | Infiniti Research Reveals Why It is a Must-Have for Retail Companies
LONDON--(BUSINESS WIRE)--Mar 22, 2019--A well-known market intelligence company, Infiniti Research, has announced the completion of their recent free downloadable resource on what retailers need to know before leveraging market research. This supplement explains how retailers can enhance their selling and marketing efforts using market research and some of the key areas to focus on before leveraging market research solutions.
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Market research in retail.(Graphic: Business Wire)
Market research essentially serves as validation for a retail company’s product idea. It also provides the insights needed to make sure that people buy their products through effective marketing, smart pricing, and strategic brand positioning. In an era where consumers are switching between brick-and-mortar and online shopping experiences, it is vital for retailers to strategize their offerings for each of these platforms before customers make the switch to other competitor products in the market.
As a global market research partner, we’ve helped clients around the world to better understand the dynamics of their target market and strategize their moves. Request Free Brochure to know how our tailor-made solutions can help your business achieve your business goals.
3 things retailers must keep in mind before leveraging market research
Omnichannel strategies are powerful
In omnichannel shopping, consumers browse and purchase products both in-store and online. Incorporating market research into digital and in-store strategy will help in understanding what channels your consumers are using to both browse and purchase products. Companies, whether they have product online, in-store, or both, should look to understand how their consumers are shopping or researching online in conjunction with in-store activities.
Understand customers on a deeper level
Several retailers are taking advantage of personalization techniques in order to identify and resonate with consumers on a deeper level. Conducting market research that explores consumers outside of just buying your product or shopping your category is vital for business. This could provide the insights you need to take your personalization and retail marketing strategy to the next level.
Keeping track of the dynamic market conditions helps companies differentiate themselves and stay ahead of the market competition. This becomes easier with an experienced market intelligence partner. Gain more insights into our service portfolio. Request a free proposal .
Undertake multi-country research
Retailers offering products through online platforms on a global scale have to account for a potential global strategy to their digital retail marketing and e-commerce efforts. Essentially, a retail strategy can mean a global strategy, so understanding where a product is sold online and testing the success of that product in different geographies through multi-country research can help improve or develop the right approach.
Request for more information and know how we can help you create robust market intelligence strategies that will give you a first-mover advantage in the market.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190322005241/en/
CONTACT: Infiniti Research
US: +1 844 778 0600
UK: +44 203 893 3400
INDUSTRY KEYWORD: RETAIL OTHER RETAIL
SOURCE: Infiniti Research
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PUB: 03/22/2019 10:33 AM/DISC: 03/22/2019 10:33 AM