Strategy question

Due to COVID-19, the sales of greeting cards in retail stores have dropped. What are some of the strategies to increase sales?

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What this question tests

Retail growth strategy under a structural channel or behavior shift.

How to approach it

  1. Clarify the real cause: reduced in-store foot traffic and a shift to digital greetings, not necessarily lower demand for the sentiment.
  2. Propose expanding into e-commerce with the physical store as a pickup point.
  3. Propose a print-on-demand personalized card offering.
  4. Propose bundling cards with small gifts to increase basket size, plus hybrid digital-and-mailed options.
  5. Prioritize the online and digital channel shift first, since it addresses the root cause directly.
  6. Define success as total category revenue including the new digital channel.

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