Keeping Up With The Jones – Do you do as your competitors do or differentiate in retail?

A century ago you would walk down the Main Street and could pick up everything you needed in the general store, pharmacy and post office. No wide range of choice, no variation. How things have changed. We live in an era where choice is everything! If you want pizza, you can choose from numerous restaurant eat in or take out options in one location. Or if you want clothing, there are so many stores you may struggle to know where to start to look! For the consumer, choice means competitive pricing, promotions, and options to suit everyone. However, for retailers, competition means a challenge. It can be difficult to know whether to directly target competitor’s weaknesses and aim for their customer base, or completely differentiate. Which retail promotional strategy strategy works best?

Retail Promotional Strategy – How Do You Decide?

Ultimately, neither retail promotional strategy is an instant recipe for success. The option you choose is the one that is right for your business, branding and profits. For some, head to head competition can pay. Take the two largest burger chains, for example. Their “burger wars” have dominated advertising channels throughout the world (currently hitting the headlines in France) since 1986. But when one gains publicity, this in turn creates press for the other – and it can benefit both parties boosting sales for both rather than working exclusively in their favour. But think about differentiation. There are businesses who set themselves apart from others and drive their success through this unique offering. Nandos – Specializing in chicken dishes as an eat-in experience mainly, Target and Walmart – each offering complete packages for their customers and leading in their fields.

Promoting To Your Audience

However, you decide to promote your store – You have to have a strategy to keep driving forward. At AGRetail we can help you with any aspect of retail branding and promoting including web design, online marketing, and printed media, including innovative storefronts, point of purchase displays and retail barricades. Talk to us today for ideas for your retail store!

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