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Attracting the Wealthiest Segment
Ready-to-Assemble
Furniture
Case Background
Launching a brilliant, industry-shaping product concept is only the first step on the path to multi-segment success. Our client, a leading global retailer known for its innovative approach, had established a strong presence in urban markets. Their build-it-yourself products resonated with city dwellers who valued efficiency and compact solutions for small living spaces. However, the retailer faced significant challenges in attracting well-paying, yet more demanding suburban customers. These customers, with their larger homes and distinct lifestyle priorities, required a different approach. The challenge lay in catering to suburban needs effectively while maintaining the brand’s essential build-it-yourself philosophy.
First, the challenge was framed to provide a clear perspective on the needs, pain points, and experiences of the new target market. This involved conducting in-depth research and analysis to understand the unique characteristics and preferences of suburban customers. By thoroughly examining their lifestyles, shopping behaviors, and expectations, we could pinpoint the specific areas that required attention. Next, a precedent search was conducted, focusing on the deconstructed and disassociated elements of the innovative challenge. This search involved looking at successful strategies and solutions from various industries that addressed similar issues. By breaking down these elements, we could isolate the core factors that contributed to their success. The strongest cases from this precedent search helped identify a winning solution that created a major impact. By analyzing and synthesizing these successful examples, we developed a tailored strategy that addressed the specific needs of suburban customers. This approach not only ensured alignment with the brand’s build-it-yourself philosophy but also provided a robust framework for effectively capturing and retaining this new market segment.
Our Approach
Innovative insights stemming from the top precedents helped our Client to offer and pilot new approaches that helped to win the heart of a picky suburban customer. The main barriers to purchase were eliminated with a new model leading to significant growth and massive business expansion. The targeted customer who was using the novel solution would spend on average 10 times more per visit than a regular one.
Output
Attracting the Wealthiest Segment
Ready-to-Assemble Furniture
Case Background
Launching a brilliant, industry-shaping product concept is only the first step on the path to multi-segment success. Our Client, a leading global retailer known for its innovative approach, had established a strong presence in urban markets. Their build-it-yourself products resonated with city dwellers who valued efficiency and compact solutions for small living spaces. However, the retailer faced significant challenges in attracting well-paying, yet more demanding suburban customers. These customers, with their larger homes and distinct lifestyle priorities, required a different approach. The challenge lay in catering to suburban needs effectively while maintaining the brand’s essential build-it-yourself philosophy.
First, the challenge was framed to provide a clear perspective on the needs, pain points, and experiences of the new target market. This involved conducting in-depth research and analysis to understand the unique characteristics and preferences of suburban customers. By thoroughly examining their lifestyles, shopping behaviors, and expectations, the project team could pinpoint the specific areas that required attention. Next, a precedent search was conducted, focusing on the deconstructed and disassociated elements of the innovative challenge. By breaking down these elements, the team could isolate the core factors that must be addressed. The precedent search involved looking at successful strategies and solutions from various industries that addressed similar issues The strongest cases from this search helped inspire a winning solution that created a major impact. By analyzing and synthesizing these successful examples, the Client team developed a tailored strategy that addressed the specific needs of suburban customers. This approach not only ensured alignment with the brand’s build-it-yourself philosophy but also provided a robust framework for effectively capturing and retaining this new market segment.
Our Approach
Innovative insights derived from top precedents enabled our Client to pilot new approaches specifically designed to win over the discerning suburban customer. These new approaches effectively eliminated key barriers to purchase, making it easier and more appealing for suburban customers to engage with the brand. The targeted suburban customers, who began using the novel solution, demonstrated remarkable spending behavior, with their average expenditure per visit being ten times higher than that of regular customers.