The first step in the agency’s approach was a detailed market and consumer analysis. This involved examining the existing customer base, understanding their purchasing behavior, and identifying gaps in the store’s offerings and messaging. The agency conducted a thorough analysis of industry trends, competitor strategies, and customer reviews.
Through this analysis, it was discovered that 65% of the store’s target demographic consisted of urban professionals aged 28-45, who prioritized energy efficiency and smart home integration in their purchasing decisions. The agency also identified a missed opportunity in targeting younger, tech-savvy consumers who valued sustainability and were willing to pay a premium for eco-friendly products.
Armed with these insights, the agency segmented the market into three primary groups:
- Tech-Savvy Millennials (28-35): Representing 40% of the potential market, with a preference for smart, energy-efficient products.
- Eco-Conscious Families (35-45): Accounting for 25% of the market, focused on sustainability and long-term savings.
- Traditional Buyers (45+): Comprising 35% of the market, interested in reliable, easy-to-use products, with a focus on brand trust and durability.