Customer Segmentation Process for Retail Expansion PPT

This PPT slide, part of the 47-slide Customer Segmentation PowerPoint presentation, outlines the process undertaken by Smith’s Fashion Center, a discount women's retailer in the Northeast, to understand its customer base for potential expansion. It begins with the identification of key drivers influencing retail purchasing behavior, which serves as the foundation for deeper analysis.

Next, the retailer engaged customers by asking approximately 20 targeted questions aimed at capturing their needs and preferences. This direct feedback is crucial for tailoring offerings to meet customer expectations. Following data collection, a Factor/Cluster analysis was employed to categorize customers into distinct segments. This analytical approach helps in identifying patterns and similarities among customers, which is essential for effective marketing strategies.

The slide also indicates that the size of each segment and their respective revenue potential were calculated. This quantitative assessment is vital for prioritizing which segments to target during expansion efforts. Finally, the process culminates in the selection of an expansion market, where the merchandise strategy is refined based on the insights gained from the segmentation analysis.

This structured approach not only enhances understanding of customer dynamics, but also informs strategic decisions regarding market entry and product offerings. For potential customers considering this document, the insights provided can serve as a roadmap for implementing similar segmentation strategies in their own organizations.

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