Retail Realities Require Rebranding Approach

Retail Realities Require Rebranding Approach Tracey Greensteinhttp://tgreensteinwwd.wordpress.com As legacy brands strategize and reinvigorate to stay competitive in the market, younger and more agile companies are withal undergoing transformation. Retail and branding experts have noted dramatic shifts in both consumer behavior and brand dynamics, leading companies to either fine-tune or overhaul their approach to customer engagement. Saffron, a global consultancy specializing in brand experience, innovation strategy and design, has worked with LVMH, Goldman Sachs, Google, Coca-Cola and Swiss Re, among many others. Here, Saffron's Keith Miller, the vice president of the Americas, and Alfredo Fraile, the managing director for North and Latin America, share their insights on the current state of retail and "strategic brand positioning." WWD: Retail is experiencing massive disruption. How are fashion apparel brands and retailers adjusting to today's consumer preferences, expectations and spending behaviors? Alfredo Fraile: The huge suburban shopping malls where the so-called "mall rats" would spend their weekends and even find their love in the Eighties and Nineties, are increasingly a thing of the past. They are now being transformed for other uses; for schools, universities or community centers. Therefore, unfortunately, for the retail sector, disruption also means unemployment and many stores being forced to close down — at least with regards to these traditional retail concepts. Consumer habits have shifted from strolling through physical stores to browsing the infinite catalog of retailers online. On the Internet, the entire world is at your fingertips; in a physical store it's only a limited amount Follow WWD on Twitter or become a fan on Facebook. Read More... Fashion 3