Data, Strategy & Consulting
This DIY retailer offered discounts to over 60's every Wednesday. This was a substantial cost to the business, but it was also clearly driving very significant footfall into stores each week. The client was concerned about the costs but did not have a clear view on the return. Beyond Analysis were asked to investigate how the store was being shopped by these customers and recommend ways to optimise the value from this programme.
What we did
In order to understand these customers in ways the client would be able to action later, we created three behavioural models of the over 60's base: Recency Frequency and Value (RFV), Shopping/Project Missions, and as a heavily shopped category a Seasonal Segmentation. This provided the groundwork for a performance analysis, scenario building and business case development that could be used to evaluate and scenario plan a number of strategies to increase basket size and increase cross category shopping.
The analysis put numbers behind the footfall, current spend and potential opportunity from this loyal customer base. The insights drove a number of significant changes that shifted focus in a number of areas including: - Introducing personalised product product promotions up-selling to the Loyal and Valuable customer groups. - Running proactive cross selling campaigns for basic house upkeep and room overhaul missions - In store bundling of relevant products from the same or related missions to drive associated purchases whilst in store.