Don’t Underestimate the Power of Your Brand
I often wonder if retailers fully realize the power they have in their own brand. From the actual store brand to own-branded items within the store, there are opportunities at every point in the shopping cycle to improve shoppers’ perceptions and ultimately influence their purchase decisions.
Branding encompasses all the experiences customers have with a business and touches all their senses. Here are some of the questions I’d ask retailers to think about:
- Are you a good neighbor? How do you support your community, and do your shoppers know about the causes you care about?
- How do you communicate with shoppers when they aren’t in the store? Do you send them personalized notifications, or do they only get the weekly circular?
- Is your storefront welcoming?
- Are your private branded products in stock? Does the package design stand out?
- Do you let shoppers try products first?
- Can shoppers ask your associates questions and are your teams trained?
In our Market Watch feature this month, Reimagining the Power of Your Brand, we highlight three retailers that are getting it right. While there are many more in that camp, there are always areas to improve. For the retailers reading this: what pain points do you have?
The stakes are too high not to focus on your brand. In fact; we found that 70 percent of shoppers are proud to show or serve others store branded items. Do you have as much pride in your brand as your shoppers? Let’s continue the conversation—email me anytime at JimH@daymon.com.
All the best,
Jim Holbrook
Chief Executive Officer
Daymon
JimH@daymon.com