“Brand warfare no longer takes place just on the retail battlefield, but now regularly takes place in cyberspace.”
The Need for an Aggressive Stance from Retailers
No longer is it the store down the street that is undermining the brand retailer, it is the housewife, retiree, college student, and failed day trader operating out of their living room that has become the greatest threat to retailers of branded goods. With little or no overhead, minor capital investment, and no sensitivity to the equity of the brand, one product after another is victimized.
Retailers who fail to take an aggressive stand with their vendors regarding online brand exposure run the risk of displaying product at retail that will never sell. In the near term they will be seen as “retail showrooms” playing the role of mid-wife to online sales. In the longer term, these same retailers will cease to exist.
Many retailers have made significant investments in developing a dot.com arm of their business to complement their retail store fronts, only to be disappointed with the traffic conversion rate. They have not seen the anticipated sales growth they would have expected, as sales opportunities are being siphoned off by search engines that drive consumers to the lowest online retail price websites.
Retailers must research online exposure by brand, by category, and by vendor to ensure that the goods in the retail stores are not being so significantly discounted online as to render the in-store assortment “over priced.”
By employing our proprietary software, Brandoogle can help you identify products, brands, and categories that are over exposed online. Buyers armed with this knowledge will be more likely to buy into products that will move more favorably at retail, as well as the dot.com arm of the business. The exclusivity of product assortment will distinguish informed retailers from the crowd, and drive significant gains in GMROI.
Questions? Comments? Interested in learning more about Brandoogle? Please feel free to contact us at Questions@Brandoogle.com or call us at (734) 657-8779.
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