Market Sizing and Insights for a Mid-Sized Retail Chain in Spain
- A mid-sized retail chain specializing in high-end kitchenware with 15 stores across Spain, was aiming to expand into a niche market segment
- Leveraged a combination of primary and secondary research to gain insights into the niche market and conduct comprehensive market sizing activities
- Accurately size the market for high-end kitchenware among niche customer segments to inform expansion strategies and optimize product offerings
- Conducted surveys and focus groups with potential customers and organized interviews with industry experts and stakeholders to understand preferences, purchasing behaviors, market trends, and challenges
- Analyzed industry reports, existing data, case studies, and success stories from similar markets to gather information on market size, growth trends, competitive landscape, and best practices
- Used both top-down and bottom-up approaches, analyzing macroeconomic indicators and aggregating sales data and customer spending patterns, to estimate and validate market size
- Delivered a market research report and strategic recommendations based on market insights
- Provided a clear understanding of the niche market dynamics, including customer preferences and competitive landscape
- Enabled the client to make data-driven decisions regarding market entry and expansion strategies
- Facilitated a successful entry into the niche market, with an initial market penetration rate of 10% within the first six months
- Strengthened the client's position in the market through targeted strategies and informed resource allocation
