Optimizing Aisle Navigation: Nextyn Boosts Sales for Belgian Retailer

Executive Summary:

Nextyn, a global leader in expert network platforms and data analytics, recently collaborated with a prominent retail store chain headquartered in Belgium (hereafter, the Retailer) to optimize its in-store aisle management and design. The partnership addressed challenges associated with declining foot traffic, inconsistent conversion rates across product categories, and a desire to enhance the overall customer shopping experience.

Challenge:

The Retailer, facing an increasingly competitive landscape, sought to improve key performance indicators (KPIs) within its physical stores. Traditional aisle layouts resulted in inconsistent customer engagement and navigation patterns. Additionally, limited data insights into product placement and category adjacencies hindered strategic decision-making. The Retailer identified the following key challenges:

• Declining Foot Traffic:?A year-over-year decrease in store visits necessitated strategies to improve in-store engagement and entice customers to browse a wider range of products.
• Inconsistent Conversion Rates:?Conversion rates varied significantly across product categories, highlighting the need for optimized product placement and promotional strategies.
• Limited Customer Insights:?Traditional data collection methods provided limited insights into customer shopping behavior within the physical store environment.

Solution:

Nextyn deployed a multifaceted solution leveraging its expertise in primary research, competitive intelligence, and data analysis:

• Customer Journey Mapping:?Through in-store observation and customer surveys, Nextyn mapped the typical customer journey within the retail space. Heat mapping technology further identified high-traffic and low-traffic areas, providing valuable data for product placement optimization.
• Competitive Benchmarking:?Nextyn's competitive intelligence team analyzed aisle layouts and product placement strategies of leading competitors in the Belgian retail sector. This analysis provided valuable insights into best practices and emerging trends.
• Data-Driven Aisle Design:?Utilizing customer journey data and competitive intelligence findings, Nextyn created data-driven recommendations for aisle reconfiguration. The focus was on optimizing product adjacencies, maximizing product visibility, and creating a more intuitive shopping flow.

Results:

Nextyn's data-driven approach yielded significant benefits for the Retailer:

• Increased Foot Traffic:?Optimized aisle layouts and product placement strategies led to a projected 18% increase in average time spent browsing within stores within the first quarter.
• Enhanced Conversion Rates:?Data-driven product placement resulted in a projected 22% improvement in average conversion rates across all product categories within the first year.
• Improved Customer Experience:?The redesigned layout, with its focus on intuitive navigation and strategic product placement, aimed to enhance customer satisfaction by 26% within two years.

Conclusion:

Nextyn's strategic partnership with the Belgian retailer demonstrates the power of data-driven insights for optimizing retail store design. Through a combination of primary research, competitive intelligence, and expert analysis, Nextyn empowered the Retailer to improve customer engagement, enhance conversion rates, and elevate the overall shopping experience

About Nextyn:

Nextyn is a leading expert network with offices in Singapore, Mumbai, Bangalore and the UK. With experts in spread across 70+ countries and 30+ meta industries, Nextyn's global capabilities have helped clients in over 16 countries make informed business decisions. Our clients largely constitute strategy & management consulting firms, PE/VCs and corporates. We deliver the highest quality, flexibility and the most competitive prices in the industry. To know more, write to us at [email protected] or visit Nextyn

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