The retail sector continues to change with alarming speed. A little over a decade ago, every town centre was a bustling hub of national and independent shops.
Today the velocity with which online shopping has transformed consumer habits is delivering a near apocalypse to the high street with the number of store closures, CVA’s and downsizing at an unprecedented level. Even the once reliable Christmas & New Year’s high street retail bonanza has been sabotaged by Black Friday & Cyber Monday.
With limited scope to adjust the fixed costs of a bricks & mortar presence the focus on the role of marketing should be intense. Channel proliferation has fragmented the budget beyond a simple above or below the line strategy, however swelling the coffers of Google or Facebook immediately draws the consumer into the world of the onlines. Far better to engage marketing warfare with the online retailers in a territory they are less comfortable and able to compete within.
If the bricks & mortar retailers wish to thrive (or just survive), revisiting the offline world of direct mail, door drops and local advertising are the cornerstone to driving footfall that has the propensity to spend.
Practising buyhavioural marketing is to drive acquisition and retention programmes via the most preferred media, targeted to a specifically tailored consumer audience for the brand to engage with for the greatest return.
Keen to know how to put this into practise – drop me a line.
#mediaefficiency #buyhaviour #retailblindspot #2020Vision
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