Retail

Ingredients --- Evaluating Portfolio Brand Strategies against Consumer Needs and Sensitivities, for a Global Luxury Group

Background

The client, a leading global luxury group, manages a large portfolio of luxury brands that are at different stages of development and success in the China market; in order to guide brand-specific strategies and prioritize group investment across the brands, the client wanted a detailed understanding of the drivers and behavior for luxury consumers across Tier 1, 2 and 3 cities in China


Solutions

•    Evaluated drivers of luxury purchasing across cities

–Identification of  key psychographics and purchasing drivers associated with each group
–Detailed definition of what ‘status’ means across cities and key psychographics
–Mapping of consumer approaches to marketing channels

•    Evaluated consumer sensitivities towards retail operations

–Evaluation of global vs. domestic purchasing behavior
–Mapping of approaches to luxury categories
–Mapping of approaches to logo vs. no logo products
–Evaluation of consumer sensitivities towards store concepts and service levels

•    Mapping of key challenges faced by client brands and evaluation of growth opportunities based on consumer behavior and sensitivities

–Mapping of each brand’s performance across target cities
–Creation of high level geographic strategies for each brand based on consumer demand
–Identification of key marketing messages, assortment, etc. to emphasize in each key geography
–Prioritization of brands for the group to invest in for short and mid-term expansion 


Methodology

•    SmithStreet conducted over 300 in-depth consumer interviews (home visits) with luxury consumers across 10 cities in China, covering a mix of current, lapsed, and non-users across the client’s brands 


Selected Findings



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