Many chain stores and mass merchandisers allocate a significant portion of their budget to building their brand. For example, consider Starbucks Coffee (arguably, a retailer). The stores are designed to carry a similar appearance. The employees are trained according to a specific regimen. The products are displayed in a manner that is consistent throughout the chain.
Now, think back to the last time you visited a store in which everything seemed inconsistent. Maybe the merchandising strategy was incoherent; perhaps some employees were far more knowledgeable and helpful than others; maybe the assortments were within disparate categories. Such a store cannot build a cohesive brand. And that prevents the store from developing a recognizable identity that customers can easily recall.
In this article, I ll describe four factors that contribute toward an independent retailer s brand. It is not enough to integrate them individually; they form a cohesive group of key elements that work seamlessly together.
#1 Inventory Selection
The items you stock on your floor represent far more than mere sales and profit. They create an expectation in your customers. By focusing closely on a niche, and filling your inventory with assortments from related categories, you ll communicate a consistent message. When people think of visiting your retail shop, they will know what they can expect to find.
A lot of independent retailers stock their floors with assortments from unrelated categories. That creates confusion. It discourages the impression that the retailer is an authority in his niche. Effective branding requires that you tighten your inventory around a few core categories.
#2 Superior Customer Service
This is a key area that sets independent retailers apart from their big box competition. Your employees should be knowledgeable about the products you carry on the floor. They should also be willing to offer creative solutions to the problems presented by your customers.
People will always value the level of service they receive in a retail environment. Oddly, the chain stores and discounters seem to give little attention to it. That creates a branding opportunity for your retail store. By encouraging your staff to do whatever it takes to please customers, your store will gain a reputation for top notch service. In many cases, your customers will drive past the mass merchandisers on their way to your shop because of the service they expect to receive.
#3 Floor Layout And Product Organization
Many people will visit (or avoid) your shop solely due to the feeling they get when they observe your floor layout. That includes the space available between the aisles, the display of products and promotions, and the cleanliness of your floor. Your visual merchandising strategy plays an important role in developing your brand identity. The challenge is designing an experience that your customers find pleasant. Because every customer is different and their experience will be unique to them, it s worth asking them to share their thoughts.
#4 Price Strategy
Few small retailers think of their pricing as a part of their brand, but it communicates your identity. If you re selling premium items, taking drastic markdowns can impact their perceived value (not to mention your margins). On the other hand, if your retail shop specializes in budget conscious products, your prices must be low enough to position your store properly. This has an enormous influence on the image people retain about your shop.
Branding is a complex science in which your inventory, level of service, visual merchandising, and pricing structure converge to generate a memorable identity. Each element requires close attention. The advantage is that you can dramatically improve the loyalty your customers feel toward your small retail shop.
Author Resource:
G.A. Wright specializes in high-impact sales promotions that produce big increases in sales volume and attract big audiences. Check them out online at: http://www.gawrightsales.com
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