A large global retailer faced the challenge of needing market sizing insights across more than 15 product offerings. Historically, they had relied on third-party syndicated sources to track market growth, market share, and competitive positioning. However, this strategy had its limitations, including:
- Geographic coverage
- Granularity and relevance to their customers, product constructs, and emerging competitors
- Accuracy and precision
- Ability to delve deep into the "why"
Recognising these challenges, the apparel company turned to Kantar Profiles for a more tailored solution.
Approach
Kantar first supported the survey design for a custom tracker, using the retailer's targeted questions. This ensured the survey was engaging and capable of delivering the needed results. An analytical plan was also developed pre-launch to support the research.
The next step involved creating a custom Market Sizing sample plan. This plan provided a consistent pulse on the market month over month, using a carefully selected blend of sources from all desired global markets. Our extensive reach and scale enabled the creation of a blend to meet quota sizes for all product categories. This approach ensured stable data collection, wave after wave, all on time and within budget.
Insight
The results from this first-party data provided the retail company with the unique insights they required across all product categories. By utilising a high-quality panel source, the data was stable and reliable for ongoing analysis.
Impact
The research generated significant interest and led to new questions from additional stakeholders across the business. The company was able to identify additional knowledge gaps and continues to expand the research to maximise their efforts in understanding their market.
Overall, the custom tracker enabled the company to overcome the limitations of their previous strategy, offering precise, relevant, and actionable insights to drive their business forward.
