Challenge

Our client tasked Anderson Strategy Group with developing a strategic plan for returning its store to profitability by evaluating its operations.

Approach

We initially examined the retailer’s historic sales data to analyze current trends, product categories, and customer spending patterns. This allowed us to systematically evaluate product performance to streamline the number of SKUs carried by the store and reduce costs.

We then developed a survey of customers to better understand their experience at the retailer. Based on the survey, a new targeted marketing plan, highlighting the retailer’s mission and social value, and an optimized store layout was recommended to strengthen customer engagement and loyalty.

Lastly, we performed comprehensive primary and secondary research on store design best practices, including scouting retail competitors, to investigate methods of improving the retailer’s in-store shopping experience. We then created mock-ups for a store redesign and calculated an estimate for the return on investment.  

Impact and Results

Significant opportunities to reverse revenue declines and improve profitability were identified and prioritized for our client. The retailer has since reorganized the floor layouts of their store and incorporated updated fiscal projections into their budget.