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Business solutions by retail consultants YRC for online furniture startups

Business solutions by retail consultants YRC for online furniture startups

Business solutions by retail consultants YRC for online furniture startups

YRC is a boutique retail and eCommerce consulting brand with a budding presence in the Middle East.

YRC is a Management Consulting Company, especially for the B-C Sector. Empowering Retail & E-commerce businesses.”
— Nikhil Agarwal
DUBAI, September 30, 2022 /EINPresswire.com/ -- In its decade-long experience, the team has worked with many startup entrepreneurs from diverse verticals including online furniture retailing. YRC has helped many startups with a wide range of services with robust planning and implementation assistance. Via this communiqué, YRC outlines some of its key service areas for online furniture startups.

Market Research

As an online business consulting enterprise( https://www.yourretailcoach.in/industries/online-retail-ecommerce-consultants/ ), YRC maintains market research is one of the preparatory activities in the journey of building a sustainable business. A better understanding of the target market enhances the possibilities of formulating better marketing strategies and decision-making. It could be in terms of identifying buyers’ behaviour, determining the pricing points, aligning digital marketing efforts, etc. In market research, YRC delivers a thorough and systematic assessment with actionable insights and CTAs pertaining to the target market. The areas of assessment encompass market segments, market demand, market size, competition, pricing, channel-wise performance, etc.

Business Modelling

Customers tend to exhibit the traits of expecting the same levels of merchandising for all product categories on online shopping platforms - the more the better. Whereas furniture is such a product type that cannot be manufactured in a wide range of varieties at one time, at least not by all businesses. So, if variety is included in the value proposition, procurement/manufacturing and delivery capabilities in the value chain must support the same. But in the long run, it is the durability of the furniture products that win the race among other values. Home delivery, easy installation, favourable return and replacement policy, etc. are other important considerations for value propositions. In business model development, YRC helps businesses with UVP ideation and defining the value chain and network of capabilities that are required to create and deliver the intended value propositions.

Business Plan

The forte of the business idea/project lies in its financial and commercial viability. In this pursuit, YRC assists businesses in the estimation of their initial expenditures including the capital requirements. YRC’s next area of work is margin analysis. A furniture business may offer a wide range of product types. The segmentation of the product mix is up to their discretion. But it is the average margin that they should focus more on. YRC follows a scientific and systematic approach in the estimation of sales turnover. YRC also helps businesses prepare their purchase plan and schedule for a smooth purchasing function. It can get overwhelming even for experienced retail and eCommerce consultants to set a business plan straight that was started hastily.

Digital Marketing

Digital marketing is not a tough pill to swallow once businesses have a clear understanding of who and where their customers are, what their priorities and expectations are, and what is their shopping journey. YRC’s team of online business consultants conducts detailed assessments and analyses of consumer behaviour and the target market segments. With the understanding and insights into consumer behaviour, market characteristics, competition, and other relevant aspects, the team begins to work on formulating strategies and solutions for effective digital marketing. The objective is to ensure that the brand identity is correctly depicted to the right audience at the right time on the right platforms with the right content.

Omnichannel CX

An online furniture brand remains online only up to a certain extent. The same is true for the customer experience it delivers. But then there are areas in the value chain and customer journey when things have to get offline. For instance, the delivery or the assembly of a furniture product cannot be online. Similarly, there are many other offline as well as online touchpoints in the customer journey. These touchpoints must have the capabilities to give customers the flexibility to switch channels or give a corresponding effect. With the understanding of these nuances, YRC helps online furniture businesses craft a suitable omnichannel CX strategy ( https://www.yourretailcoach.in/digital-retail/omnichannel/ ).

For more insights into how to start an online furniture business and YRC’s retail consulting services or for a quick chit chat with YRC’s omnichannel consulting team, please visit https://www.yourretailcoach.in/

Get advise for Retail Business Consulting : https://www.yourretailcoach.in/contact/

Rupal Shah Agarwal
YourRetailCoach
+91 98604 26700
consult@mindamend.net
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