Key Research Components for Retailers
Brand Strategy
In today’s dynamic retail environment brand positioning and development are fundamental to success. Brand loyalties are being swept aside by shoppers’ ‘promiscuous’ behaviour, leaving retailers with a need to regularly re-evaluate their opportunities in existing as well as new markets.
FSP has talked to shoppers for years and understands their changing perceptions of shop appearance, product and marketing. FSP combines this data with rigorous analysis of company performance and market-place competition to provide information that facilitates successful strategic brand decisions.
FSP Brand Auditing examines attitudes of users and non-users to every type of brand communication. FSP offers an audit of the client company to help management and staff members consolidate their understanding both of the brand and the target market. Brand Auditing is an essential tool for retailers or branded manufacturers who want to understand customers better and predict buying behaviour.
Click here to view our Market and Brand Positioning Case Study.
Click here to view our Brand Strategy Case Study.
Location Strategy
Knowing where best to locate retail outlets to maximise sales and profit is fundamental to successful retail operations. The cost implications of siting errors can be enormous and due to the structure of UK leases such errors cannot typically be corrected in the short-term.
FSP works with established and start-up retailers to identify locations that contain concentrations of their target shoppers. FSP will prioritise retail development opportunities and identify the likely nature and strength of competition.
Rent and other overheads must be controlled if business is to be profitable within the anticipated turnover range. FSP has performance, profitability and affordable rent models which it applies to potential sites to give clients essential data on which to base their commercial decisions.
Shopper Attitudes/Behaviour
Brand Tracking is a monitoring system that measures aspects of brand performance. Staying one step ahead allows retailers to develop strategic responses with a competitive edge.
FSP has extensive experience using focus groups, user and non-user shopper surveys and accompanied shopping specifically to analyse shopper attitudes and behaviour. The system informs clients of shopper opinions, behavioural responses to marketing campaigns, effectiveness of merchandising, product attractiveness, shop appearance and service standards. FSP combines this research with sales data to provide the client with an invaluable foundation upon which to take the brand forward.
Click here to view our Consumer Insights Case Study.
Click here to view our Tenant Mix Policy Case Study.
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“The FSP research helped our understanding of the Park’s shoppers and provided information that assisted our discussions with target retailers. The bespoke reports provide key benchmark statistics and quantify the profit opportunities to retailers. They also help illustrate to landlords the scope for future growth and can formulate part of an asset management strategy.”
Mark Phelps
Letting Agent,
Wilkinson Williams