Success Case Study: Three Squirrels Online Snacks - Targeting Millennials through an internet-based business model and personalization strategySummary
Three Squirrels achieved meteoric growth from its inception through its direct-to-consumer business model, product strategy revolving around premiumization and personalization, and branding and social media marketing strategies targeting the Millennials cohort in China.
Anhui Three Squirrels Electronic Commerce Co. (Three Squirrels) was founded in 2012 as an online vendor of nuts, seeds, and dried fruit products. The company subsequently diversified its portfolio to include other savory snacks and herbal teas, and transitioned from a purely online approach to an online-to-offline model.Scope
- Besides launching its products on popular online retail platforms such as Alibabas Tmall, Three Squirrels leveraged internet and social media tools such as WeChat to provide consumers with a more convenient and engaging shopping experience.
- The company exploited the growing healthy eating trend among Chinese consumers, with its offering of nuts, seeds, and dried fruit snacks.
- Three Squirrels premiumized its snacks offerings through its unwavering focus on quality control and personalized approach to product packaging.
- The three animated squirrels used as brand ambassadors became a common theme instilled into the companys culture, branding, and communications. The company is utilizing the intellectual property of its brand mascots to boost sales and brand loyalty.
- Three Squirrels employs IT systems and big data analytics to track consumer purchases and customizes its product development strategies in line with consumer preferences.Reasons to buy
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Reduce the risk of failure by learning from brands/products that have under-performed: failed innovation can severely impact profit and reputation.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
Publisher Name : GlobalData