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It becomes quite difficult for the retailers to sell their own brand products alongside the competitive brands of the vendors to provide customer a best in-store experience. Here are few ways retailers can ensure their own brands stand strong against the vendor brands
Fremont, CA: The past two decades have observed a sea change in the relationship between the vendors and the retailers. Designing a merchandising solution around their 'own-brand products' was the first priority of the retailers. So while introducing a new vendor product to their stores, retailers maintained a possession of experience, while considering vendor as a valuable partner.
These roles have changed in the consumer electronics space, and consumers now have the option to choose from a wide variety of products covering hundreds of vendors. Hence vendors need to be more intelligent, faster, and smarter than ever before and understand that differentiating products on the basis of their experience would be better than comparing products.
It becomes quite difficult for retailers to sell their own brand products alongside the competitive brands of the vendors to provide the customer with the best in-store experience. The consumer experience must be a top priority of both vendors and retailers. Here are a few ways retailers can ensure their own brands stand firm against the vendor brands:
Stand on Your Own
Own brand products of the vendors must be differentiated from that of the vendors. They don't need to be displayed in the same manner as more substantial brands. Retailers must focus on their own value proposition rather than trying to provide the same experience to that of competitive brands.
Confirm with the Law
While incorporating interactive displays, specific guidelines must be set up for the vendors. The guideline should include as many details and requirements to ensure that vendors are clear on the expectations of the retailers for deliverables.
Compare with Dare
Every retailer must ensure that their overall brand experience is reflected in the prospective vendor solution. This lets the consumer know that the retailer is advocating competitive vendor brands. In the case of co-branding, the message must be clear as to what reinforces the brand perception.
Make it Happen
All brand promises must be kept by having all in-store technology functioning as intended. Consumers have a negative experience when an interactive display stops working. Display solutions should have an accompanying merchandising support program each for every location.
Retailers don't have to cover their own brands or provide to their product vendors. With strategic planning and execution of the plans, products can co-inhabit the same space successfully while still carrying on-brand messaging.
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