ICC Customer Testimonial

Updated: Feb 18

ICC Customer Testimonial



A Major Retailer ICC Finds the Right Target Customer

in the highly competitive global fashion industry using data analytics

The Challenge

ICC International Public Co., Ltd. or ICC is the leading Thai and international retailer that aims to increase sales in Thailand with a new strategy - focusing on a new target group that goes beyond simple demographics. ICC turns to data analytics to transform their sales strategy for finding customers based on actual interests, buying behaviors, and fashion search data on mobile devices.


What we did

Understanding Target Customer

Based on a survey, ICC found that more than 52% of people aged 45-65 feels that their age is subjective and believe that their actual age is 10 years younger. This group of customers has a high buying power, live a modern lifestyle, and are health conscious. They are willing to pay extra for themselves and those around them to achieve a happier lifestyle. As for people aged 60-65 who are retiring from their current jobs, they are much more stable financially. They are ready to shop for their families and want to keep healthy in order to participate in social activities. Targeting these two groups of customers is the perfect opportunity for ICC since both groups have all the factors that are conducive to buying environment. Both groups are financially stable, healthy, and are likely to live long. Most importantly, their subjective view about age greatly influence their interests, behaviors, and lifestyles.


In-Depth Insights with Data Analytics

True Analytics offered insights on these two groups of customers using data analytics technology as well as finding other potential customers. Our in depth analysis covers customers’ fashion interests and online buying behavior over mobile applications or other online channels. We also looked into customer’s search behavior about fashion shows, clothing trends, or fashion from other global brands over websites. And, finally we used our location-based capability to identify places where these two groups of customers interact with friends and family. If there is a high frequency of visits at a particular place or activities, the analysis of data would be even more accurate.

Achievements



Dr. Surat Wongrattanapassorn, ICC’s information technology director, said “ICC’s 2019 revenue will grow no less than 5% from customer retention and new customer acquisition. We will be investing over 250 million baht to improve IT and for data analytics in order to get accurate data on target customer, which will enable us to select the right products for sales at the annual Sahapat Fair or drive sales on online channels. I think today’s competition in the clothing and fashion industry is very fierce. This is because our partners as well as the cost of production throughout our supply chain is different from China, Bangladesh, or India. The cost of producing a product in Thailand will become higher even if our product has high quality. In contrast, other global fashion brands that offers affordable price fashion products are usually low cost. Launching a promotion for these types of brands usually can drive a lot of sales because the brand is well-recognized, which means with just one ad can be used globally. This is why ICC needs to adapt to the fierce competition and gain the upperhand in the Thai market. For example, ICC’s Guy Laroche customers are usually older, so we need to understand their behavior pattern with data. With data and analysis, we found that middle aged customers want to have clothes with modern design. Right now, ICC has partnered with True analytics to find loyal customers, to know who our customers are, the price they are willing to pay for clothing as well as their interests in special promotions such as a discount of 20% or 30%. This is where we can compete with others. Our sales has to be more accurate. Since ICC has over 100 brands and over 10,000 shops, the accuracy for what to offer to customers in each location and various promotions will be the factors that drive us forward.”

#Retail #ICC #BigData #DataAnalytics #TrueAnalytics


Youtube

TH: https://www.youtube.com/watch?v=kB3Q4ar5VSk

EN: https://www.youtube.com/watch?v=fxEYoi4LRp0

64 views
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