You might think that the big players have seemingly unlimited funds that allow them to execute plans that cover the marketing spectrum, but that doesn’t mean their spend makes sense.
What would you do if you were Sharp? Do you think you can win by driving customers to the stores alone? Or do you win by converting customers that are already in the store by locking down the aisle? How did Sharp get to their strategy?read more
I never pass up a good analogy to help myself understand a complicated story, and spice up a boring one. The growing use of private brands (or private label) by retailers has become the key story of this new era in retail marketing. There are so many different stories and perspectives floating around, I think what gets lost in the buzz is the underlying reason of why retailers have turned to private brands. So what does retailer’s private brand strategy have to do with the NFL?read more
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So the rumor is out there – Radio Shack could be on the market, and Best Buy’s name has been tossed out as a suitor – we wanted to share our perspective on what it could mean. Best Buy and other retailers are known to be taking learnings from European Retail and applying them in the US. Best Buy’s own acquisition of Carphone Warehouse in the UK in 2008 could serve as a model for a potential acquisition of Radio Shack. While there are approximately 61 Best Buy Mobile stand alone stores in the US today, there are over 6,000 Radio Shack locations when you combine company owned stores, franchies, and wireless kiosks.read more
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WATCH & LEARN – HOME DEPOT DECLARES BLACK FRIDAY IN APRIL:
The fight for Retail Leverage doesn’t end with brands duking it out in the aisles. Retailers take it outside, fighting their own battles. If you think unemployment, the real estate market, and tight credit has hurt sales for your brand, imagine how that rolls up to create a desperate environment for the retailer. While the home improvement sector in retail is still fragmented, the two resounding leaders are Home Depot and Lowes.
Home Depot, in a bid for some Retail Leverage of its own, and in an effort to drive year over year sales growth, has declared “Black Friday Is Back”, creating their own retail big event.
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5 HI-LO TACTICS TO TAKE TO HEART:
1) Launch high with instant rebate (sleeves out of your vest)
2) Price drop to original planned level (back to the future)
3) Price drop plus discount (price drop on steroids)
4) Vary Level of Instant Savings Based On Opportunity (keep your powder dry)
5) Never Ending Closeout (the McRib of closeouts)