Great video case study from Tesco that proves the value of understanding your target audience (http://www.youtube.com/watch?v=fGaVFRzTTP4&feature=player_embedded).
I love the way they leveraged a consumer insight to create and entirely new channel by which they could serve their customers.
Well known U.K. customer-service focused retailer, Tesco, entered the South Korea market and has been evolving their brand to gain share.
They changed the brand name from Tesco to Home Plus to compete more directly with market leader Home Mart.
They wanted to continue to gain share versus Home Mart but to do so without additional investment in brick and mortar stores.
Tesco learned that South Koreans are the second hardest working people in the world and they hate going grocery shopping once a week — it’s not seen as a productive use of time.
Tesco decided to make it easier for South Koreans to shop by putting virtual stores in subway stations, and other locations frequented by South Koreans.
The virtual stores were exactly like the actual stores except all of the product displays were photos with QR codes on each product.
As such, while waiting for the subway, shoppers could scan the QR codes of the products they wanted, put them in their virtual shopping carts and have the products from their shopping carts delivered to their homes when they arrived home from work.
This gave the shoppers more time to relax and more time on the weekends. It turned waiting time into shopping time and made the South Koreans more productive.
Tesco/Home Plus is now #1 in online sales and has gained share versus Home Mart in the off-line market.
How can you make it easier for your customers and prospects to buy your product or service versus that of your competitor?