Our client wanted to grow revenues. It engaged MarketsandMarkets to understand opportunities in retail automation. Our team defined and solved a series of problems that further helped to devise a granular growth strategy for the client. Few of the key questions answered during the engagement are as follows:
We offered detailed insights into the shifting sources of revenues of our client’s clients, and their clients. Our analysts further provided insights into market sizing and forecasting across verticals such as hypermarkets, supermarkets, single-item stores, fuel stations and pharmacies through KnowledgeStore, our AI-driven market intelligence platform.
Competitive intelligence on the basis of company profiles, organic and inorganic strategy adopted by key players, competitive landscape, and recent developments such as acquisitions, product launches, collaborations and partnerships were also offered to the client. Based on the suggestions of our client services team, the client was able to identify new opportunities and generate revenue impact for the next few years.
Revenue Shifts Identified
Few of the major causes of revenue shifts in client’s clients’ and their clients’ ecosystem identified by our team were: rising use of virtual and augmented reality in retail store, growing use of predictive analytics to analyze consumer behaviour and trends, and increasing adoption of consumer chat bots for better shopping experience in retail stores.
Actionable insights were offered into adjacent industries and markets to identify opportunities and blind spots. These markets and industries were: interactive display, RFID and barcode printers, self-checkout systems, wireless POS terminal, and counterfeit money detection systems.
Some of the unknowns emerging out of interconnections and shifts in revenue sources were considered for revenue assessment, such as, increasing adoption of automation technologies in retail sector, growing demand for cost effective inventory management solutions, etc.
Revenue Impact (RI)
We devised a go to market strategy for the client who wanted to enter the retail automation market for automated conveyors in single item stores. With our insights, the client was able to tap into revenue opportunity worth ~USD 22 Million in 2017.
See how future revenue sources change for these companies
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