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Blog - Dealer Tip

Rebranding Your Retail Business

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Times change, and with those changes, retail design and accessory businesses are constantly required to keep up with the changes in styles, costs, design trends and even technology. Once a retail business has been established, the work is far from over, and the ability to continually evolve as a retailer can go a long way in maintaining the success of a business. Simple changes in inventory, such as a new floor vase or other decorative element, can change the entire feel of a business, prompting a change in the image a business portrays through its branding or other marketing measures.

Rebranding is the makeover of a company, business or product. When sales slump or reputations are less than stellar, many businesses rebrand in order to encourage more sales through a different logo, advertising campaign or overall company image. For retailers, rebranding can be as simple as offering up floor vases and accessories online, engaging a younger market through an Internet-savvy approach to customer service. Rebranding can also mean a shift in the focus from expensive carpets and window treatments less expensive accessories like floor vases or botanical accessories. Logo redesign, new taglines or other marketing tricks can also help a company or business rebrand itself with a new image that draws in a different demographic or presents a friendly, casual or even upscale image.

In order to successfully rebrand, a retailer needs to think beyond the goal of selling more accessories and floor vases. Important details to consider include the type of customer a business needs to attract, the methods that can be used to gain attention to the product or business, how much a rebranding campains will cost and the effectiveness of competitor’s marketing and branding campaigns. An example of rebranding a retail home decor business is focusing less on the elegant statement a floor vase can make during an economic recession, and more on the durable and cost-effective materials used in its construction that can help reinvent the floor vase for years to come.

Rebranding a business is the natural evolution of products, eras, location and customer’s needs. By letting go of what worked in the past and embracing new trends in style, technology, design and customer focus, a retail business can succeed in any market or location.

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