Retailers must look to understand their core customers and make a product that they truly want.
While companies focus on marketing tactics to accelerate business growth, this article recommends brands to keep the product at the centre of a retail strategy. The author draws attention to Zara’s test and repeat solution wherein the brand, informed by early customer feedback, puts its successful line at the forefront while avoiding exposure to poor-performing ones.
In today’s highly competitive retail landscape, a positive in-store experience can ensure brand loyalty. Marketers must keep their core customers above the rest so that their product and marketing fully appeal to this group.
Discounts may help in achieving short-term goals, but can devalue a brand as customers expect slashed prices. The author suggests brands to hold off discounting to favour long-term progress.
[3 minute read]