NEW DIGITAL BUSINESS MODEl
A large retailer wanted to grow their Direct to Consumer business through the development of new business models for selling their higher price point products. They were specifically interested in how to increase the repurchase rates for these products.
We assessed market trends and the competitive landscape to determine the full set of sales models used by other retailers for products with a similar, high price point. In addition, the Excelerate Team pulled in consumer preference data to identify which sales models best mapped to our clients’ product offerings. Once the most applicable sales model was identified, our team scanned the vendor landscape to identify viable partners. Excelerate was then asked to lead the implementation effort to get the project live in time for the new product cycle.
Seizing on the “subscription economy” trend in consumer behavior, Excelerate developed a strategy by which our client would develop an upgrade model similar to cell phone installment plans. This required selecting a viable financing partner (FinTech vendor) and developing a go-to-market plan and test strategy. We then developed an aggressive implementation plan, ensuring that we collaborated with all critical internal stakeholders, resulting in a successful implementation plan that went from idea to live in 9 weeks.