How a BFSI player successfully partnered with the largest POS scan and Go provider
Background and Challenge
Client’s Background:
- An heterogeneous manufacturer and marketer of advanced electronic and electrical products the client is world's 9th largest integrated manufacturer of electric and electronic equipment. It works for software solutions at all layers of software architecture - drivers, OS & schedulers, multi-core firmware, middleware and applications.
Challenges Faced by Client:
- Difficulties in evaluating the market opportunity : The client recognized the difficulties in understanding market landscape, outlook, Customer Journey, Business Side Penetration and Operational Business Model of the PoS Scan and Go Market in India. Hence, they contacted Ken Research and Strategy Advisory to identify all stakeholders for the collaboration in their logistics operations.
- Difficult to identify the evolving consumer trends and consumer profiling : In addition, the client was interested in understanding the evolving consumer trends in the market and Competition profiling, hence they outsourced this activity to Ken Research.
PoS Scan and Go Market at Glance:
- Total transaction value in the Digital Payments segment reached $ 137.9 Bn in 2023 driven by the growth of PoS Scan and Pay technology in dine-in restaurants, QSRs, food joints.
- In the future, it is expected that a larger portion of the population in India will be using smartphones, therefore leading to increase in smart phone penetration in the country.
Approach and Recommendations
Phase 1: Provided the study on PoS Scan and Go and ecosystem of players
- Ken collaborated with its client to understand the understanding the landscape, outlook, Customer Journey, Business Side Penetration and Operational Business Model of the PoS Scan and Go Market in India.
- In-depth and detailed discussions were carried out with the top decision making authorities.
- These discussions gave the client possible opportunity windows to know-how the Opportunities for Indian PoS Scan and Go Industry
Phase 2: Key Analysis of customer behaviour and competition analysis
- The second phase of work focused on understating the evolving consumer trends in the market.
- Deep dive on business model and revenue streams in pos scan and go market with competition profiling, regulatory environment and pain points of end users.
- This helped the clients to evaluate total market size in the Indian PoS Scan and Go and the future opportunity with the potential consumer use cases with eminent and noteworthy Primary Research by Ken Research in short span of time duration.
Phase 3: Quality Recommendations and advisory for the client
- After identifying and analyzing the competitive KPIs across the market, Ken provided phase wise plan and constructive strategies to the client to leverage its competitive advantages and ways to improve its market positioning in the industry.
- Providing detailed case study on best practices adopted by top players in the market
- The client was able to understand the key operational parameters in the Industry and helped the client to identify potential markets for the concerned products in India
Result and Conclusion
Understanding of Market Attractiveness across Segments
- Ken Research provided the client with the existing opportunity as well as the future growth potentialof various segment. This will help the client in strategizing their business expansion plans into other segments.
Provided suggestion of Targeted marketing
- Ken research’s team has provided end users analysis with evolving customer trends and use cases which helped the client to formulated targeted marketing strategies, to leverage the first mover advantage.
Recommendations on Product Portfolio
- The client was able to understand the key operational parameters in the Industry and recommended key steps to enhance product portfolio and market share.
Business Impact
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Partner with largest POS scan and Go provider and penetrated over 500+ stores
