Retail & Consumer Goods

Consumer Sentiment Analysis for a Mature Retail Enterprise Through Social Media Research

Challenges

The client, an established and mature player in the retail industry, was consistently losing its market share to newly emerging retail chains – the key reason being saturation. The client was facing challenges in adapting to the evolving preferences of new-age consumers, for which they approached Fact.MR.

Solution

Analyzing the incessantly growing competition – especially from new, incumbent competitors – was the key challenge. In addition, it was essential to know where it all boiled down to – resulting in declining new membership applications and ceasing average number of members. Fact.MR’s consulting team first decided to overcome the challenges created on account of incomplete understanding of consumer behavior that eventually dictates their purchasing decisions, to eventually help with better consumer engagement. Also, another important point made by the consulting experts was that the company’s membership and loyalty programs were too conventional and unattractive to lure the consumer of today’s digital age.

Results

Our consulting expertise in social media research analysis offered extensive consumer insights by focusing on target consumer groups active on various social media channels. Online opinion mining proved to be an excellent method to achieve drastically increasing number of new membership applications. Fact.MR further recommended the brand to invest more in keeping track of evolving consumer sentiments through social media analysis, as deeper consumer knowledge further helps in product/service benchmarking.