Branding & Retail - Branding Strategy Insider

Retailers have huge advantages when it comes to branding. We explore those advantages and opportunities here.
4 Strategies For Building Brands With Scarcity

Lists of bestselling items, from books to cosmetics to music, have a strong influence on us because they signal popularity. When in doubt about what to buy, you will more than likely be drawn to the item that is mentioned to be a bestseller. This distinction helps us slip into the mindless decision-making mode because while bestsellers aren’t always scarce, they do communicate high demand and high sales and prove an effective strategy.

Motivating Buyers With Reversible Offers

Returns are a big issue for retailers. Consumers return more than a quarter of a trillion dollars in merchandise annually, and less than half of those goods can be resold at full price. In addition to creating problems for inventory management, retailers have to figure out how to restock the sellable goods and triage damaged ones to a string of liquidators and wholesalers.

Strategy For A New Era In Retail

How did Amazon become the retailer of choice for a large portion of the US population? How did Walmart beat out other grocers in the late 1990s to become the leader in food retailing? How did Warby Parker make a dent in the once-untouchable Luxottica’s lucrative eyewear business? How did Sephora draw customers away from once-dominant department stores to become the go-to retailer for beauty products?

Why The Future Of Retail Requires Imagination

We’ve written about experiences being the latest frontier in retail: How brand activations through pop-ups like the Taco Bell hotel in Palm Springs or the Cheeto’s gourmet restaurant in New York offer memorable ways to extend the brand story; How Instagram-friendly destinations like the Museum of Ice Cream offer unique opportunities for brand partnerships; How China’s virtual showrooms bring back memories of childhood.

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