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Sure, here's a case interview question for Consulting- internship role at Deloitte:
Case Interview Question: Deloitte Consulting has been approached by a leading furniture retailer struggling to compete with the new digital-first market entrants. Their management team has noticed a considerable drop in footfall and sales across their retail stores. They wish to adopt a more data-driven approach to revitalize their business and stay competitive. The retailer has asked Deloitte for advice and recommendations on what they can do to increase sales and footfall. How would you approach this problem, and what recommendations would you give to the retailer?
Sure, here's a case interview question for Consulting- internship role at Deloitte:
Case Interview Question: Deloitte Consulting has been approached by a leading furniture retailer struggling to compete with the new digital-first market entrants. Their management team has noticed a considerable drop in footfall and sales across their retail stores. They wish to adopt a more data-driven approach to revitalize their business and stay competitive. The retailer has asked Deloitte for advice and recommendations on what they can do to increase sales and footfall. How would you approach this problem, and what recommendations would you give to the retailer?
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HTML Structured Answer:
Approaching the Problem
To begin with, I would like to start with a fact-finding mission to identify the root causes of the problem. I would gather data from various sources such as the retailer's sales data, footfall data, customer feedback, competitor analysis, and industry trends. Once we have identified the root causes of the drop in footfall and sales, we can move on to developing recommendations to revitalize their business.
Recommendations
Based on the findings, I recommend the following course of action for the retailer:
- Invest in Online Presence:
Develop and enhance their online presence with e-commerce capabilities by launching an online store. This will expand their customer base and give them access to a wider audience. They also need to optimize their website for search engines and make sure it's mobile-friendly. - Personalization:
Implement personalization strategies through the use of customer data. By tailoring marketing messages and promotions to customers based on their purchase histories and preferences, the retailer can increase customer satisfaction and loyalty. - Innovation:
Innovate in-store experience by creating interactive and immersive shopping experience to attract customers to physically visit the store. - Partner with Influencers:
Collaborate with influencers to promote their products on social media platforms, which can generate buzz about the brand and attract new customers.
Citations
- According to a report by Statista, global e-commerce sales have grown from $1.3 trillion in 2014 to $4.2 trillion in 2020. (source)
- Personalization is important for consumers. 80% of shoppers are more likely to do business with a company if it offers personalized experiences. (source)
- In-store experience can impact purchase decision. A survey by Mood Media found that 78% of consumers said an enjoyable in-store atmosphere can motivate them to shop longer and spend more. (source)
- Influencer marketing has been shown to be effective, with 82% of consumers saying they are highly likely to follow a recommendation made by an influencer. (source)