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A leading Liquor Retailer, owned by a large umbrella Retail Group and major Australian company (the largest company by revenue in Australia and second largest in New Zealand), with extensive retail stores and brands across both countries was looking into product potential and turnaround.
One of the products in the Liquor business had been underperforming for five years, losing market share at about 2-5% annually. The business needed to make a decision on whether to continue with this line of products, or explore the potential and possibilities of a turnaround.
A leading Liquor Retailer, owned by a large umbrella Retail Group and major Australian company (the largest company by revenue in Australia and second largest in New Zealand), with extensive retail stores and brands across both countries was looking into product potential and turnaround.
One of the products in the Liquor business had been underperforming for five years, losing market share at about 2-5% annually. The business needed to make a decision on whether to continue with this line of products, or explore the potential and possibilities of a turnaround.
The recommended Expert worked on a targeted market research piece which analysed competition, growth markets, customer markets and store adoption models to provide a range of options and solutions for a product turnaround plan.
With structured analysis of the product’s current state the Expert developed clear and strategic opportunities for a potential turnaround.
The Expert was able to identify several opportunities in the market for the underperforming products to reach ideal revenue performance.
The business decided to implement the turnaround plan and during the first six months of implementation, the leading Liquor Retailer saw a 10% increase in product revenue.
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