A multibillion dollar specialty retail company operating hundreds of stores in North America needed a broad business strategy to frame its near-term turnaround initiatives within a comprehensive plan to rebuild for growth.
It was critically important for the chosen consulting firm to able to quickly synthesize a large number of turnaround initiatives already underway – including multiple consumer segmentation analyses, e-commerce acceleration, technology infrastructure overhaul and supply chain improvements – while simultaneously assessing the external dynamics forcing rapid change from omnichannel and direct-to-consumer competitors as well as from shifting consumer demographics.
HighPoint deployed a former Monitor Deloitte consultant with significant industry experience to partner with the company’s head of strategy & consumer analytics and senior leaders across retail operations, marketing, supply chain operations and finance. Our consultant developed a strategy framework to assess consumer trends, the competitive landscape and the company’s strategic choices given its capabilities and current positioning.
We then built on the client’s existing consumer segmentation efforts with industry data, trends, and primary research in order to lay out strategic recommendations for market positioning. We also performed an audit of one of their divisions, providing an assessment of its business profitability and recommending an action plan for returning the business to growth and for exploring new investment options to leverage their fixed assets.
The effort resulted in buy-in from the Board of Directors on the turnaround phased plan through a deeper understanding of the business challenges facing the company and the strategic options for growth. The strategy and business audit from our analysis inform the retailer’s current investment priorities and turnaround roadmap.