Turning Sales Crisis into Opportunity with Market Research

The women's shoe industry in Indonesia has seen significant growth in recent decades. With a population of over 270 million people, Indonesia has a large market potential, both for local and imported products. Indonesian consumers are increasingly aware of the importance of quality, design, and comfort, which drives the demand for various types of shoes, from casual, formal, to sports shoes. In 2024, fashion and lifestyle trends in Indonesia continue to evolve rapidly, influenced by advancements in digitalization and changes in consumer preferences, especially among millennials and Gen Z. Both groups tend to be more sensitive to global trends and have a relatively strong purchasing power, especially for products that offer a balance between quality and competitive prices.

The Story

On the other hand, challenges such as rising production costs, competition with imported products, and global economic uncertainty due to the energy crisis and inflation remain a major concern for industry players. Because of that, a women's shoe company approached Monica & Co Business Advisory to ask for insight and a go-to-market strategy recommendation for them in order to strengthen its position in the increasingly competitive shoes industry.

To solve this problem, Monica & Co Business Advisory does some analysis, such as market analysis, consumer analysis, and competitor analysis. Market analysis provides an overview of how the women shoe market in Indonesia works, market size, market segmentation, estimated revenue that can be obtained by a women shoe company, as well as the challenges and opportunities that exist. Consumer analysis provides an overview of consumer targets and their needs. Meanwhile, competitor analysis provides an overview of competitor products and their marketing strategy.

Utilizing the market research results, the first strategy emphasizes the shoe company's product design to be more similar to luxury brands because market trends in Indonesia indicate that potential consumers love luxury designs, even though they want it to be affordable, and also love the shoe design because it is timeless.

The second strategy that Monica & Co Business Advisory recommends is to maximize their social media (especially Instagram and TikTok) to get attention from new potential customers and increase their brand awareness. For their Instagram, a shoe company can create more attractive and unique content, such as customers who use their shoe product in their daily life, behind-the-scenes shoe production, or a testimonial video from customers. Meanwhile, for their TikTok account, a shoe company can also create some memorable content, such as OOTD using their product, behind-the-scenes shoe production, and a day in my life video about career women using their shoe product.

The last strategy for a shoe company is to make an interesting and memorable campaign story for their product. Monica & Co Business Advisory recommends two campaign story ideas for them, which are “Step into Your Power” and “Dare to Stand Out”. Each of them has a powerful and memorable message for the audience. The message from the “Step into Your Power” campaign is to support every woman's step to face challenges with strength and confidence. Meanwhile, the “Dare to Stand Out” campaign gives a message to every woman must have a unique strength and the courage to be herself.

Our Approach

After getting important insight and go-to-market strategy recommendations from Monica & Co Business Advisory, a shoe company can launch its new shoe product successfully and gain more attention from new customers.

The Impact

*We take our clients' confidentiality seriously. While we've changed their names, the results are real

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