Overcoming the obstacles to growth in SME lending

The ScS growth plan focusses on widening their target market, forging stronger relationships with customers and investment into existing and new showrooms to improve customer experience. To do this effectively, they needed to understand diverse demographics, and how their audience behaviours had shifted pre- and post-pandemic to shape their marketing and location strategy.

IKEA, a global leader in home furnishings, has evolved from its humble beginnings as a Swedish mail-order company. Today, it reaches millions of homes worldwide with its renowned flat-pack furniture and distinctive market presence.

Their commitment to innovation and technology has been a driving force behind their remarkable journey of growth and success. However, prior to 2018 IKEA Australia had no formal consumer segmentation platform in place. Something they identified as a gap and challenge to future growth.

Charles Tyrwhitt, the well-known menswear retailer, is a business focused on delivering high quality menswear that offers great value for money, exemplary customer service, and commitment to operating responsibility.

Learn how Experian’s Address Validation solution help Charles Tyrwhitt maximise delivery success, improve online conversion, and deliver a seamless user experience.

The UK has a significant problem with low numeracy skills; half the adult population possess the skills of an 11-year-old. Low numeracy costs the economy £25 billion annually* and is a key barrier to many from disadvantaged backgrounds climbing the socio-economic ladder.

Experian and National Numeracy partnered to create the UK Numeracy Index (UKNI), which models and ranks geographic areas by numeracy skills and confidence. The UKNI revealed a direct correlation between low numeracy and low social mobility and is being used to enact change by focusing improvement efforts and underpinning how local authorities’ access the £560M “Multiply” government programme.

*www.nationalnumeracy.org.uk/cost-outcomes-associated-low-levels-adult-numeracy-uk-2014

Lambeth Council needed a solution that would help them to identify: households currently and potentially affected by the growing impact of cost of living crisis and the geographical localities that needed targeted support. Working with Experian, the council were able to access data in a visual platform to help them analyse key information that would enable them to make informed decisions in targeting support where it is needed the most.

Advantage Finance, a motor finance company from Grimsby,  had been monitoring the accuracy and performance of their existing scorecard, which had been in place for several years.

At a time when the overall sales of vehicles are falling, staying competitive is vitally important.

Given the current environment with the rising costs of living, economic uncertainty and the rapid pace changes are taking place, Advantage Finance needed to be confident that their decisions were the right ones and continued to reflect a consumer’s circumstances accurately. To respond, and reflect the economy, Advantage Finance saw a need to assess the performance of their scorecards.