5 Things You Might Fail To Figure Out

5 Mins

Retail business doesn’t matter. What do you think? Is that true?

Well, retail business position in the marketplace is often misunderstood, it is seen as it is not a big competitor since they only sell products in small quantity. But, you need to know that retail business can be a possible leading cooperation in twenty century especially with their flexibility and minimal loss. Wal-Mart for example, their business are increasing until 0.73% growth rate according to Google Finance in 2017. It shows that retail business can also compete in the marketplace.

The next big question: how to increase retail business’s brand image?

The same thing as the original brand, retail business also have brand images that can affect consumers which also need to be maintained. As a retailer, you also need to construct your brand image. We can divide it into five dimensions that can help you to pay more attention:

  1. Accessibility

    A strategic place can determine the increase of sell. Because people can access the store more easily. The more it is easy to be found, the consumer will come directly to the store that can provide their needs and solution. This beneficial especially for the retailer who needs to attract customer and to run their business.

  2. Store Environment
    Elements that shared to customers such as color, music, and messages can influence customer’s perspective towards your company. A pleasant environment can trigger hedonistic utility to the customer and encourage them to visit the store more often.

  3. Variant Cross-Category
    The breadth of different products under one roof that customer knows and could find can influence store image. Why? These indicate that your store is full of goods that can fulfill their needs and wants. Besides, customers can have other options to purchase.

  4. Achievable Category
    An important dimension of building the brand image for retail business and a key driver of store choice is consumer perception of depth in this product category. If any brands can be easily obtained, it means that you can expand your target market.

  5. Price and Promotion
    This is certainly not a spaced relation because it does not only increase sales but also the best service for consumers. By providing a discount, considering a lower price compared to other markets as well as promotional offers can be pleasing customers.

By understanding and running these five dimensions, you can be more aware towards accessibility, store environment, variant cross-category, achievable category and price promotion to run a successful retail business!


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