Properly conveying the retailer’s name — its positioning strategy — is essential for long-term success.
As noted at the Fresh Web site (from Manthan Systems, a business intelligence firm): “What’s the first name that comes to your mind when you hear ‘discount retailer’? Chances are that the names Wal-Mart or Target pop up – and it’s not surprising because these are two of the most valuable retail brands in the world today. Just in Canada, for example, 70% of Canadians recognize the Target brand and 10% have shopped with the retailer. In the U.S., Wal-Mart caters to 180 million shoppers annually, and claims 1.7% of the U.S. GDP. Their brand success stories – along with those like Walgreens, Macy’s, and Best Buy – are well-known. However, these brands have taken years to reach where they are today – don’t forget that Wal-Mart was founded nearly 50 years ago! So what are younger, newer retailers doing today to establish brand recall in the minds of their customers? How is the retail branding game changing?”
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