, APAC
Photo by YIMING TANG via Pexels

How can companies identify untapped market opportunities?

A key strategy is to understand consumer habits and opinions.

Understanding consumer behavior will allow companies to discover valuable white space opportunities or areas where consumer needs are unmet, according to Euromonitor International.

Data from its Voice of the Consumer: Lifestyles Survey 2024 highlights a shift toward greater emphasis on personal enjoyment. This requires companies to explore what personal enjoyment means for their target consumers in terms of lifestyle and product needs.

Once lifestyle changes are identified, businesses should employ structured frameworks to translate these insights into actionable strategies. 

Effective frameworks include consumer profiling, which involves understanding the target consumer’s characteristics and habits within a specific product or service category; path to purchase, which analyses how consumers shop for products or services, including their information sources and purchasing processes; and usage and attitudes, which explores how consumers use products or services, including consumption occasions and unmet needs.

By leveraging these frameworks, companies can pinpoint consumer pain points and unmet needs, leading to valuable white space opportunities. For instance, a company in the vitamins and supplements sector sought to refine its product lineup by identifying key pain points and areas of consumer interest through online discussions and surveys. This approach guided future product development. Similarly, a global travel company aimed to enhance its online booking experience for families by using a consumer survey focused on the path to purchase. 

Moreover, the survey uncovered how families select travel platforms and their pain points in the booking process, enabling the company to tailor its features to better serve travelers and stand out from competitors.
 

Kawan Lama Indonesia mengaburkan batas antara belanja online dan offline

Pengunjung  platform e-commerce grup, Ruparupa.

K3Mart memadukan budaya Korea dan produk UMKM lokal dalam satu gerai

Convenience store itu menyediakan perbandingan produk impor dan produk lokal sebesar 50:50 di 30 outlet mereka.

Meningkatkan penelusuran dan efisiensi manajemen inventaris dengan barcode 2D GS1

Barcode 2D ini berfungsi sebagai penyimpanan data yang kompak.

The Coffee Bean & Tea Leaf menyeimbangkan kualitas dan kenyamanan melalui produk ritel

Mereka memperluas rangkaian produk termasuk berbagai kopi single-origin yang disesuaikan dengan preferensi pemanggangan yang berbeda.

KCG menguasai brand positioning untuk segmen premium di Indonesia

Mereka mengadopsi solusi berbasis teknologi terbaru untuk sukses mengelola 92 toko ritel di 20 kota di Indonesia.

Ini alasan brand-brand mewah meningkatkan investasi AI

Sektor ini telah menginvestasikan lebih dari $360 juta dalam AI selama tiga tahun terakhir.

Bacha Coffee menguasai retail kaya sensorik di Jakarta

Memadukan warisan dan kemewahan, Bacha Coffee Plaza Senayan menghadirkan pengalaman unik bagi pecinta kopi Indonesia.

Bagaimana WCT Malls meningkatkan penjualan tenant melalui pemasaran terarah

Melalui pemasaran terarah, mal ini meningkatkan penjualan tenant dan tingkat okupansi.