We live in a world which is connected like never before. The internet, social media and smart phones enable vast distances to be traversed by the hit of an enter key or the swipe on a screen.
Customers and clients that were once happy to be guided by what was available in store or your expert advice have now researched prices on line or created a gallery of images creating their perception of the ideal product.
In retail, it used to be that you could obtain the right to be the sole distributor of a brand or product in your area and your customer would have to travel some distance if they wanted to get that brand from another store. If you had the brand in stock, presented it in a clean and tidy fashion and provided a good level of customer service, your customer would buy from you.
With the proliferation of online stores you are competing against businesses selling the same product from all around the world. They may have cheaper rents, cheaper staffing costs or volume discounting which means they can sell it cheaper than you.
Customers may come into your store already having seen a branded product at half the price on Best Buys or Ebay. You provide a better level of service and the product is there, but is that enough for the average person to buy the product from you?
My question to you is, why compete? Why not create something that customers can’t get from anyone else but you?
Every retailer has a story to tell, whether it’s how they were founded, why they decided to enter the industry, or a passion that turned into a business.
Why not incorporate that story into your own brand? With your own brand who are you competing against? Nobody else has it but you. Create your own pricing strategy, be more flexible with your offer when receiving client feedback and create a point of difference from your competitors.
While customers will have a general idea of the price of other similar type products, you have the opportunity to sell the benefits of your brand that justifies the price you charge. Can you do that with 3rd party commercial brand?
Here at Southern Lights, we assist retailers just like you to create your own brand. Our inhouse creative team has over 25 years retail experience so we can help shape your ideas into a viable retail offering.
We have the capacity to produce extremely large orders for multi store chains, but the flexibility to produce small orders enabling you to begin your own brand journey without a huge cash outlay.
Give us call to find out how easy it is to create your own brand.
