So, future of commerce is definitely not e-commerce or in-store shopping separately; it is, in fact, c-commerce. Meaning, although retailers need to have a physical presence, brands at the same time need to recognise how to make any shopping experience personal, curated, and easily accessible to consumers. Companies need to understand and know who their customers are and market their products or services to them. So, remember, guys, if you are truly innovative, the market is just about to catch up to you! Presenting what can we learn from American retailers
Anyone who is attuned to the current retail marketing environment knows how having direct-to-consumer strategies as well as a proper, precise purchase modicum are the keys to any start-up and growing brand’s playbook. Pop-ups and personalised customer experiences are the things to do and key drivers towards enabling success for any company.
One may assume that major brands, say, Target or TESCO, might have no problem succeeding and connecting to their target market, thereby conducting huge turnovers. But hell no, these companies have had their fair share of struggles getting into newer markets, bringing their A game, and most importantly, surviving in the ultra-competitive US markets.
So then, what is it that these American retailers employ that we need to pay heed to? What are the key takeaways we can actually adopt and adhere to from them as far as marketing is concerned?
Well, it is simple. American retailers have a clear multi-point, multi-dimensional strategy when it comes to entering, establishing themselves in, and most importantly, capturing any market they want to be a part of. Here are some of the pointers these American retailers keep in mind while bringing their A game in marketing:
Begin with a differentiator:
As a general rule, as a brand, you need to offer something no one else does, be it a unique product or service, a key feature or service, or technology—basically anything unexpected. Once identified, your unique selling proposition, or USP, works like a solid foundation upon which you can build a successful business.
Focus on specifics:
Indian LensKart owner Peyush Bansal very rightly states that any business or entrepreneur should facilitate a purpose or solve a problem. Until one gets into doing something that involves problem-solving and hustle, there is simply no point. Identify that specific, that initial purpose or pain you solved and thereby got success for your brand or business. and then you will be able to scale it better.
Positioning:
Getting clarity as to where you stand, especially as far as your competition goes, is of utmost importance, especially if you want to position yourself in a manner that generates better results. Yes, it is important to be hungry, to continuously do competitive research, and to place yourself so as to bring a herculean impact to the segment you are working for.
Adaptability:
Understanding differences is going to be a hard reality while working simultaneously in multiple markets. Whilst your core essentials might remain the same, train yourself as well as your team to focus on adapting to all sorts of differences, be they cultural, legal, or technical.
Be dynamic and open:
Yes, it is imperative that you are open to considering different and newer use cases for your product or service. One should always be ready to adapt to newer dynamics, especially when you are in bigger, more flamboyant markets.
All in all, a change in mindset is the key to achieving success in not only specific segments but also working towards overall success for the entire brand or business, thereby helping one bring their A-game as far as marketing is concerned. It is thus important that we take note of these dynamic features, which are adhered to by American retailers, to get our A-game on as far as marketing goes. And in the end, remember that at the end of the day, the customer is king, and nobody goes against royalty, eh?
Also read: Essential Steps for Establishing a Successful Sportswear Business
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