A leading consumer packaged goods company had to assess the market potential of specific product categories
WNS leveraged its proprietary analytics-led Category Evolution Framework to identify profitable investment opportunities over a 5 to 10-year period
The solution helped the company make sound, data-driven investment decisions
Global CPG companies face varying challenges in different markets to grow their product categories. This is because each market or country is governed by different legislative and economic environments, cultural differences in behaviors and preferences, and demographics.
Hence, for large investment decisions, companies have to weigh all the variables, isolate the most critical ones and study their impact on category growth. In other words, it requires advanced analytics to take sound, data-driven decisions, which can drive growth over the long-term.
In analyzing market potential for specific product categories. The company had to prioritize its investments for maximizing business impact. The analysis entailed considering a wide range of factors and data points.
The company partnered with WNS to leverage its advanced analytics capabilities to identify significant investment opportunities over a 5 to 10-year horizon.
WNS leveraged its proprietary Category Evolution Framework to drill down to the most critical metrics and drivers that could predict the performance of product categories in different markets. The solution included the following key steps:
Factoring in all relevant data sets across markets and time periods such as macroeconomic, market size and customer habits, and practices studies
Classifying markets, for each category, into ‘low evolved,’ ‘medium evolved’ and ‘high evolved’ using category development parameters
Post classification, creating profiles for individual categories in different markets
Driver analysis for category growth
Identifying markets that would tip over to the next level of category evolution
Juxtaposing markets that would grow to a higher level of category evolution with trends in the identified critical drivers and size of price to arrive at the final recommendation of markets with the most significant and sizeable opportunities for growth
That analytics helped the client in data-driven investment decisions for various categories and sub-categories. WNS’ analysis and recommendations enabled the CPG company to weigh the cost of investment and place bets on markets, which held the best promise of future business growth and performance. Following this engagement, WNS partnered with the client to deploy its analytics expertise for several other categories.
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17 June 2021
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