Sector: Technical Consumer Goods
Portfolio: Consumer electronics, IT products, mobile and home appliances
Facts & Figures
HQ: Indore, Madhya Pradesh, India
Employees: 600
Founded: 1998
Solutions Used
About Lotus Electronics
Lotus Electronics has 20 stores in Indore, Bhopal, Ujjain, Raipur, Bilaspur, Nagpur, Jabalpur and Bhilai as well as a successful online presence. Over the years, its product portfolio has expanded from consumer electronics to IT, mobile and home appliances. It is known for its large showrooms which stock a wide assortment of local and international brands staffed by knowledgeable in-store company demonstrators.
“Lotus Electronics operates in an extremely competitive sector where players utilize sophisticated commercial strategies to maximize returns. Timely, accurate market intelligence is essential to survive and thrive in this pressurized environment. We rely on the solutions and specialists at GfK for the actionable insights needed to make tactical data-driven decisions to stay ahead. Whether our customers walk in or log in, we want them to enjoy the best possible buying experience, and that means we need the latest information at a product, brand and category level. That’s why GfK is our go-to source.”
Mr Gaurav Pahwa, Managing Director, Lotus Electronics
Market intelligence that helps meet business goals
Lotus is an ambitious retailer. There are three business objectives where GfK’s range of intelligence solutions has a key role to play. The first is supporting expansion into other cities and states by analyzing the potential of different locations and growth opportunities. Secondly, by providing insights to ensure the retailer continues to offer an exceptional experience to its customers, whether they walk into a store, or shop online. Thirdly, to help the brand increase its online presence. Here Lotus uses GfK’s Online Price Monitoring solution to respond quickly to constantly fluctuating prices.
“gfknewron Market is our guiding principle at a tactical level, feeding into commercial decisions such as pricing and promotions. We use it to build offers for the SKUs and brands most in demand and to adjust our product portfolio store-by-store to deliver the greatest returns. Our team can react fast to emerging trends at a market, consumer and industry level to stay relevant and appealing in our cut-throat sector.”
Mr Gaurav Pahwa, Managing Director, Lotus Electronics
A solid foundation for tactical decision-making powered by gfknewron
The company was an early adopter of gfknewron Market which was initially trialed by the management team who quickly embraced its many capabilities and user-friendly interface. Today, users across the company rely on the platform as their go-to source of sales intelligence, performance benchmarking and management-style reporting on Consumer Electronics, Appliances, Smartphones, and IT products. Together with regular consultation with GfK’s sector specialists, Lotus has a solid basis of data to inform its tactical decision-making. The sales volume trends in particular helps Lotus maintain and increase market share by category, and perfect the planogram for each store to maximize sales.
In addition, access to gfknewron has provided added layer of information including brand and product performance, and analysis of the potential for market, product, and segment-level growth.
Delivering KPIs
As a result of the implementation of the insight and intelligence in gfknewron across the company, the business has improved its delivery of key performance indicators. The two companies see their collaboration as ongoing, supporting both the day-to-day business of retailing and longer-term opportunities for store expansion.
A strong working relationship
With more than a decade of working together, the teams at Lotus and GfK have developed a fruitful partnership that gets results. Lotus appreciates the industry knowledge and insights that the GfK consultants offer, and their ability to identify emerging trends.
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Download the Lotus Electronics Case Study
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