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Background
A leading Food and Beverage client wanted to increase its profitability and expand its consumer base. Even after increasing the budget for staff salaries, infrastructure improvements, and marketing campaigns there was no noticeable increase in the brand’s bottom line. The client reached out to Deepspatial to seek an alternative approach to increasing their bottom line.
Challenges
The client lacked information and access to crucial data sources like consumer information and market insights that would help them optimize operations and increase sales. The brand wanted to know and understand factors like detailed demographic profiles around their store locations, product assortment and pricing optimization in relation to competition in surrounding areas, and understanding what affects customer traffic.
How We Are Making An Impact
Deepspatial’s platform provided the client with granular data on the spending capacity of people in surrounding areas, market competition, and market demand. Deepspatial identified over 1,000 data variables calculated using proprietary algorithms to produce accurate predictions. Additionally, Deepspatial platform allowed the Food & Beverage executives to view comprehensive demographic profiles with real-time data visualization showing income levels, spending patterns, market segmentation, competition mapping and other relevant variables. This helped the client to maximize their market share, gain competitive advantage and identify gaps to maximize store performance.
Visible Outcomes
Using our platform, several granular geodemographic data such as income, customer behavior, buying patterns, and store performance helped the client understand their market size and consumer habits, along with location-specific insights and the main drivers of footfall. These recommendations helped the client relocate their under-performing restaurant to one of the high-potential suggested locations. The insights also optimized the clients menu, based on the purchasing capacity of people residing in nearby areas, their spending behavior, and the eating habits of those people. The insights, prescriptions, and recommendations resulted in better revenue & expansion of two more restaurants for the brand.
