Refreshing a Segmentation to Illuminate Richer Consumer Insights

With more than 1,000 U.S. locations and a robust e-commerce channel, longtime Material client Best Buy has always been invested in deeply understanding its customers. Over the course of 15 years, we’ve partnered with the retailer on numerous market segmentations, working from the enterprise level to highly targeted sub-categories, strengthening the brand’s ability to connect with consumers and identifying pathways for growth.

In the wake of ongoing, pandemic-related shifts to the retail landscape, Best Buy knew the time was right to revisit and refresh its original enterprise segmentation with a view to the future. They engaged Material to conduct updated segmentation research, building on our deep historical knowledge of the brand and its target customers.

Our ongoing partnership with Best Buy is a testament to the value of periodically revisiting, reevaluating and refreshing a segmentation to account for shifts in the business landscape, whether subtle or seismic. The multiple approaches involved in our recent segmentation work – from the enterprise level to the specific gaming and health sub-categories – helped provide the client with a richer, more nuanced view of their target audiences than would have been possible though a single insights lens.

Today, Material’s research and insights help to guide diverse initiatives and activations across many areas of the business, including personalized digital marketing, channel strategy, category investment and partnership and brand prioritization. From enterprise-level insights to highly specialized sub-category research, we’re thrilled to partner with Best Buy to deepen the brand’s understanding of their customers and enable their future growth.