To maximize the ROI of transformations, we have helped enterprises to innovate their business models, products, and services to generate breakthrough results, including revenue, profit, market share, customer acquisition & retention, and employee engagement.
To enhance the success rate of transformations, we have developed the best practices of Design Thinking and innovation management for six industries: aviation, banking, hotel, insurance, retail, and OEM.
Summary of our successful case of a retail chains:
- Industry & Background of Enterprise
- Business Challenges and Challenge Statement of Project
- Project Scope
- Transformation Strategies and Business Results
Industry:
Retail
Background of client:
One of the largest retail store chains in Hong Kong
Business Challenges:
In today’s eCommerce-driven market, customers preferred purchase online instead of in physical stores, especially for fast-moving consumer goods (FMCG). It caused severe customer loss, especially millenniums, and diminished profits. Over 10,000 retail stores closed down around the world in recent years.
Challenge Statement of the Transformation Project:
How to build a highly engaged and irreplaceable community for targeted customers
Types of Transformations:
Business Model transformation and Digital transformation
Duration of Project:
12 months
Strategies for Transforming Business & Resolving Challenges
We upgraded the retail-based business to Online-to-Offline (O2O) based platform with three circles, namely: living circle, social circle, and shopping circle.
These circles enhanced the consumers’ sense of belonging and created human-centered exchanges & emotional bonding in this O2O ecosystem.
Key Performance Indicator(s) of the Project:
- Customer satisfaction rate
- Revenue
Breakthrough Business Results
The customer satisfaction rate increased to 30%
