Work summary: Business Plan formulation & Financial Projections for a fashion/crafts retailer operating in natural dye space: Analyses on home grown artisans value chain & location feasibility across Dhaka.
A natural dye intensive ethnic fashion brand based in Dhaka wanted to expand its customer base throughout other parts of Dhaka & other divisional cities where a substantial base of educated-affluent consumer cohorts are emerging. With this backdrop the company wanted to magnify, focusing on Dhaka North. With only a handful of informed customers comprising the sales funnel the customer cohort was not rapidly increasing. The client wanted Inspira to do the research given the fashion brand was about to launch number of new product category extensions. To avoid brand dilution the brand needed to communicate its USPs by understanding the customer psyche of the target groups as they had plans to go beyond offline outlets and launch online e-commerce portals for the buyers.
Inspira’s Brand Building Specialist and consultants executed the research in two blocks: In Block 1 Inspira extracted the status quo perception of general Fashion segment customer cohorts residing across Dhaka and in Block 2 we analyzed the customer psyche, competitors’ retail dynamics and location specification. Inspira ran on-sight missions to understand and map the general customer demography/profile of the client the in-shop purchase behavior (Shelf routes, activity route, purchase instigators, product category-age group wise interest patterns etc). We also did Key Informant Interviews (KII) with Aranya’s Team members (both Outlet level managers & HQ level strategic managers) to takr a peek at the Insider view points with regard to customer behavior, competitive landscape, sales seasonality factors, Outlet composition etc. We also ran a structured questionnaire survey with 200 sampling units with the potential target customer cohorts along with Spontaneous Group Discussions with groups of potential customer composition (maintaining diversity in age-gender-social background etc.) with semi-structured questionnaire across different leisure points (Mall food-court, lounge etc.). The same tools were used for different shopping/retails hotspots, outlet managers, management personals, Real Estate Developers Airport Department to have a hands-on understanding of the probable location hotspots along with Customer Footfall data, space rent details and a heads-up on upcoming competitors.
With the help from Inspira’s research support, client was able to determine which cluster of Dhaka North have significantly better customer base who have the potentials to be become “their” customers. They were able to identify Fashion Brand related shopping footfalls across Dhaka North Clusters, Brand Awareness level of the Generic Educated Segment of the Dhaka City Audience on Local Fashion & Lifestyle Brands based on which possible root roadblocks were marked in brand development process. Inspira provided multiple sets of data on the behavior pattern of the potential customer cohort of the client which acted as a skeleton for their marketing plan. Besides with the help of market intelligence and location specific field investigation provided by Inspira the client has already laid the initial structure for their outlet in a strategic location in Dhaka.