What is one of the biggest pain points faced by brands entering retail?
Thinking that sales are just going to come to them and not realising that listing with a retailer is the easy bit, staying and growing with the retailer is the challenge. "Brands need to develop strong out of home (OOH) marketing plans to build brand awareness and then partner with the retailer to develop a comprehensive trade marketing calendar that creates activity that drives retail sales. My advice is plan well to execute well."
What is something brands need to consider when creating a retail strategy?
"It can often be tempting to go far and wide with as many retailers as possible but we often find that such an approach spreads resources too thinly. A retail strategy should carefully consider which retailers are the best fit for the brand and plan how those carefully selected retailers can be cultivated and developed appropriately to build a long-term sustainable business."
What are some key considerations around retail strategy implementation?
Ensuring that everything is switched on and in line with the plan; for example if there is a GWP activation with a particular retailer, making sure that logistics are on board to ensure delivery in time for deadlines, or if there is an in store event, making sure that the brand is communicating this in line with the retailer across social media channels.
“Essentially, a key consideration is to ensure all involved parties are on board with implementing the plan.”
Are there any brands with an interesting/unique/impressive retail presence?
“I am going to be bias and go with ReVive in Harrods. We have an excellent retail team, led by our brilliant Business Manager Gavin Moss.”
The team know their clients very well, they maintain regular contact with each and every one of them, and communicate to them about new launches, activities and events across various social media platforms. The team also have collaborative relationships with other departments and brands across the store to ensure that store colleagues refer and “bounce back” their clients to the ReVive counter. This is an impressive example of a retail team managing relationships within and outside of their retail environment to build client loyalty, a steady stream of referral business and ultimately, retail sales.”
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