Question: Please read this information carefully and make sure you understand the scenario and the task. Case Study Background: You are a consultant working for a
Please read this information carefully and make sure you understand the scenario and the task. Case Study Background: You are a consultant working for a retail company that sells clothing and accessories online. The company has noticed a decline in sales over the past few months and needs your help identifying the problem and coming up with a solution. Your task is to analyze the company's sales data and provide a solution and recommendation for how they can increase sales. You should consider factors such as customer behavior, market trends, and the company's pricing and promotional strategies. Company's Sales Data: Customer behavior: The company has noticed that the average time customers spend on their website has decreased by 20% over the past few months. Additionally, the percentage of customers who add items to their cart but do not complete the purchase has increased by 15%. Market trends: The company has noticed that sales of winter clothing items declined by 25% compared to the same period last year. Additionally, there has been a shift in customer preferences toward sustainable and ethically sourced products. Pricing and promotional strategies: The company has recently increased the prices of some of its best-selling items by 10%. Additionally, they have not run any major promotional campaigns in the past few months. You can add more details where necessary; however, the information must be logical, practical, and in line with the provided background information.
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Analysis Report on Increasing Sales for the Retail Company Identifying the Problem The retail company has observed a decline in sales over recent months prompting the need for a comprehensive analysis ... View full answer
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