Bassett Furniture Store
GOALS
- Establish a vertical distribution model to support their manufacturing pipeline
- Become less dependent on their traditional retailers for product distribution
- Increase long-term revenues and profits
TACTICS
- Implemented first ever category research study
- Developed strategic plan designed to capture the support of existing customers while building a franchise retail model by which to grow the business
- Repositioned Bassett brand from a deep discounter to a mid-tier lifestyle brand
- Created a retail store that delivered on the home décor experience that consumers wanted at a value that they could afford
- Built out a unique online and in store experience that demystified the decorating process
Supported all four legs of the business: - Manufactoring
- Traditional Retail
- Basset branded store & ecommerce
OUTCOMES
- Established 125 profitable retail store locations in five years under the Bassett brand name
- Secure traditional retail outlets with store within a store programs, unique collections and a robust online service
- Increased revenues by 240% and profitability by 14%
- Launched New Brand PR, Image, Advertising Campaign and internet marketing campaign with highest industry conversion scores
- Doubled market share