Escalent helped us see past our old ways of doing business and to better face our growing start-up competition. They offered a fresh way of looking at the challenge but did so in a cost-effective and efficient way. We are already working with them again.
A large beauty and personal care company faced emerging competition and changes in channel dynamics, especially in the US. Despite success in China, which was a newer geography for the business, there was a lack of alignment across the organization on the implications of a channel shift in more developed markets. The company’s sales had remained stagnant for four years while the market had grown by almost 50%. Moreover, its performance was being challenged by a new breed of competitors who had disrupted the traditional value chain by becoming more consumer-centric. They needed a strategy to take on the upstarts and revive growth.
Escalent looked at the client’s capabilities and identified key channels where a shift in strategy was needed. First, we needed to understand what was behind this new breed of competitors, so we dug into the strategies of more than 100 start-ups that had experienced exponential growth rates since their launch. We then dove into the specific category/channel leaders and studied the key strategies that had helped them achieve tremendous growth trajectories. Finally, we analyzed the global sales data for the beauty and personal care (BPC) market. Escalent analyzed the evolution of channel shift overall in the market and identified the key product categories/clusters segmented across different geographies, which had experienced the most impact.
We recommended a balanced strategy between inorganic and organic growth plans to pursue a shift in their channel approach. Escalent also recommended specific organizational level changes that would help track the impact of channel shift in an effective way. The project helped identify $25M in at-risk product sales and provided the foundation for a strategy to protect those sales.
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