What sets a brand apart in physical retail beyond product availability?
How can brands remain future-proof? How important is my brand's identity, and how do I foster a sense of belonging? What societal trends influence us, and how can I stay proactive with a limited budget? Meike discusses all these questions in the Textilwirtschaft Podcast.
Investments are essential because standing still is not an option. Physical space is becoming increasingly important for us humans—a place where we come together and experience a brand. The deep longing for genuine connection and experiences is evident in all studies. We are in a renaissance of analog contact.
For retailers, it is crucial to understand what people need and what my brand represents. How do I present myself with rituals and habits?
In the current reality, budgets for brand identities, experiences, and spaces are significantly reduced or eliminated. This is a trend observed across industries. For us too, waiting for more budgets would be negligent. Instead, we focus even more on our core and invest in competencies and partnerships. New, creative-intelligent solutions are in demand. It is clear to us that the physical brand space remains an important communication channel.
To remain future-proof, it is more crucial than ever to dive boldly and clearly into the topics, develop trust in competencies, and embrace a culture of experimentation and willingness to fail.
The current intensity of change requires more than superficial adjustments. It involves massive transformation, taking into account societal uncertainty and economic challenges.
The following topics are crucial for self-determined future shaping:
- Focus on the core of the brand and prioritize continuity.
- Find a clear stance and avoid relying on short-term trends.
- Make socially relevant contributions that go beyond the product and make them tangible.
- Develop new, bold shopping and experience concepts that leave a lasting impression.
- Utilize technologies and Artificial Intelligence (AI) with openness to make retail more humane and promote community.
- Transformation requires community and collaborations. Retail alone cannot save city centers, but by connecting with the local community and creating new formats, it can contribute to the attractiveness of cities.Retailers, by focusing on their strengths and approaching with passion and courage, can create new formats and stores that bring a breath of fresh air to cities.
Sounds intriguing, but want to know more? Listen to the full podcast on Spotify now.