Helping Canadian Tire
Gain Even More Tread
When Canadian Tire Retail (CTR) engaged Level5, the Canadian retail category was growing in competitive intensity; companies from the US and Canada were entering the category and competing for CTR’s customers. CTR recognized that a product-focused strategy was not enough to win in this intensely competitive space. Rather, CTR knew that a differentiated customer-centric strategy would be essential in establishing long-term sustainable growth.
Level5 was tasked with updating CTR’s strategy and identifying ways to transform CTR’s operations to better satisfy the key emotional and rational drivers of consumer purchase intent and brand loyalty. By revising the company’s strategy and providing a clear Action Plan to achieve their goals, Level5 helped CTR consistently deliver a customer-centric promise and establish themselves as one of Canada’s top retailers.
Level5 collaborated with the CTR leadership team and engaged various stakeholders to better understand the CTR brand and its current target audience. Level5 leveraged our proprietary BrandMap™ research tool to measure CTR’s brand equity, identify the emotional and rational drivers of customer purchase intent, and uncover where there was competitive whitespace in the category that CTR could own.
Through a series of executive workshops, Level5 helped align the CTR leadership team to a clear understanding of who their new target markets were and the operational changes required to effectively attract and retain these customer segments. Through a scorecard, Level5 aligned CTR’s leadership to their brand strengths and outlined the business implications to better meeting their target consumers’ needs.
To ensure consistent brand delivery, L5 created a comprehensive Action Plan, outlining how the CTR team could effectively transform their operations and bring the strategy to life. Level5 also developed an ‘always on’ live metrics tracking tool. With this resource, the Canadian Tire team was able to stay up-to-date with changing consumer preferences and be more nimble in the dynamic Canadian retail space.
Impact & Results
CTR’s leadership team was aligned; the company adopted and actioned the new strategy and implemented the required changes to their business lines. As a result, their bottom line grew, and their stock price rose significantly. Following this engagement, Canadian Tire was named ‘Marketer of the Year’ by Marketing magazine (2013). After consistently executing on their customer-centric strategy, Canadian Tire was recognized once again; they were recently named Brand Finance’s “Most Valuable Canadian Retail Brand” (2019).