What is a Retail Brand A retail brand identifies the goods and services of a retailer and differentiates them from those of competitors. A retailer’s brand equity is exhibited in consumers responding more favorably to its marketing actions than they do to competing retailers (Keller ). The image of the retailer in the minds of consumers is the basis of this brand equity.
Thus we can say... “ Retail Branding is an issue not only of retailers selling brands but branding the retail business itself”.
Why Retail branding?? “ Retail branding creates a brand preference, which goes beyond the product or service in itself”.
Need for retail branding Lack of Store Differentiation. Merchandising Muddle. Lack of labels/suppliers. Discounting. Limited margins and high real estate prices. Time abundant consumers?
3 dimensions of retail branding Brand Value Brand Strategy Brand Structure
Strategies in retail branding in India Integrated branding Contract branding Independent branding
Positioning strategies for retail branding Product Service Experience Price