There are a number of reasons why a retailer might consider rebranding. Some might be hesitant to consider the process, seeing change as a compromise, one that generally occurs when businesses are struggling. This, however, is a falsehood and rebranding can be beneficial and appropriate at any time, even capitalising on an opportunity to build upon established success.
It is also important to recognise that rebranding isn’t limited to aesthetic reinvention, one that sees shops across the high street change their logo or colour scheme. While a shift in style is certainly one aspect of rebranding, there are also others, including retailer values and shop layout.
Knowing When
Retailers should be continuously evaluating their brand performance, being conscious of how messages are being communicated, how products are performing, and how shop spaces are being perceived on the high street over time. Should any of these circumstances change, then it is important that retailers adapt.
One of the most common motivations for rebranding can be because of a change in how a brand is being received by shoppers. Certain customers, for example, might have a different perception of a brand’s values or begin celebrating one particular product or service, prompting retailers to rethink their approach. This can, of course, also be due to a negative perception too, with certain retailers rebranding due to negative press or a stagnated brand perception. Rebranding in this context can work exceptionally well, helping to add new vitality to retail venues or a positive reputation for a brand.
Inevitably, time also changes how brands are perceived, which is why the Lego company have now begun creating more advanced and collectable Lego sets, recognising that many of their former customers are now much older. By rebranding in this way, Lego is now increasingly enjoyed by adults and children alike.
Knowing How
The process of rebranding isn’t always easy. Marketing, understandably, plays a significant role and even significant changes can be rendered ineffective by poor reception. Additionally, while internal branding can change, such as operations and practices, it is often essential that retailers also change physical aspects of their store too as these changes, from a repainted interior to new shop furniture, help customers to more easily associate with a new direction.
Shop redesigns are valuable and are a part of rebranding and should occur regularly. By upgrading slatwall panels and swapping up a floor layout, retailers are able to refresh their presence on the high street and demonstrate that shopping environments are considered and curated.
Take, for example, the newly frequent rebranding that considers environmental sustainability. A number of retailers are now seeking to adjust their branding to meet the increasing scrutiny of eco-conscious shoppers. While internal practices can change to be more environmentally friendly, it is important that shop spaces adapt accordingly. Shop furniture and style should be clearly aligned with sustainable ethics, with products also complementing a new direction.