Case Studies
Stein Mart – A Retail Brand in Need of a Re-Position
A slowdown in sales for Stein Mart meant they needed to do something to turn the ship around. They sought out a new agency to help them re-position the brand and bring in new, more loyal customers.
Situation/Background
Stein Mart, like many retail brick n’ mortar brands, was experiencing a slowdown in sales due to the rising tide of internet shopping. In addition, the brand was struggling to find its space as it was squeezed right in between the discount department stores like T.J. Maxx and higher end department stores like Macy’s and Nordstrom. They needed to find a new identity and needed to do it now. Their current agency had been on the payroll for quite some time, but had gotten a bit tired and wasn’t as proactive as Stein Mart needed them to be.
Search Requirements
Stein Mart was looking for an independent marketing agency that had all the resources of a large networked agency, but without all the political baggage of a larger firm. Finding larger, stronger independents that could bring a great deal of experience and success in the retail space was what the brand needed.
Agency Selection
RSW/AgencySearch started out by looking at websites from 200+ agencies that they felt met the criteria of what the client needed. From this list of 200, they narrowed the list down to 30. Pre-qualifying questions were pushed out to the 30, which then helped narrow the list down to 15. Interviews with all 15 companies occurred. The list was then narrowed down to a final list of 7 agencies. These 7 agencies were sent the RFI that requested very specific information about experiences they had dealing with similar situations Stein Mart was facing. A final list of 3 agencies were identified and a “Challenge Document” was shared with each, outlining expectations for the final pitch presentation. Ultimately Bohan from Nashville, Tennessee was selected to carry the Stein Mart brand forward.
