Build a strong brand for your store starting with selected brands

When building your initial stock assortment there are several factors to take into account to ensure your product selection is both attractive to your customers and profitable for your business. 

These factors include: 

1. Creating a balanced price mix: offer products with a range of prices that allow you to target a wide range of customers and encourage cross-selling.
2. Balancing margins: oftentimes the products with low margins are sold in higher volumes, so make sure to mix them with higher margins items.  
3. Combining iconic and niche brands: integrate well-known brands with unique and niche ones, to attract customers’ attention and differentiate your store from competitors. 

While all of these factors are vital for your assortment strategy, there is an additional element that you must not overlook: the identity and values of the brands you choose to assort. Each product you select contributes to the overall impression that a customer will have of your store. 

Start by asking yourself the following questions and noting down the answers: 

• what are the values that represent your brand? 
• what are the factors that differentiate you from the competition? 
• how would you like your customers to describe you? 

These key elements should be embodied in all the brands you choose to carry. 

For example, if you want your shop to be known as the go-to destination for vegan and sustainable products, you should select brands that align with these values. Favour brands with a low environmental impact in their production, brands offering vegan products, and brands that sell durable items made from environmentally friendly materials.

To begin, it is crucial to understand your target market and the brand image you aim to project. Conduct market research and brainstorm ideas to come up with a unique concept for your brand. 

This foundational work will guide your product selection and ensure that your assortment is a true reflection of your brand identity.

The impression and image of your store for the customer will also be profoundly influenced by their experience in the store.

When designing the layout of your store, whether physical or digital, ensure it is easy to navigate and intuitive. The shopping experience should feel effortless and enjoyable.

For a physical store, consider the ergonomics of the space, lighting that highlights the products, and clear signage that guides customers through the various areas of your store.

The way customers feel when they enter and navigate your store can significantly impact their likelihood of purchasing and returning.

The ambience of your store plays a critical role in determining how your customers feel in store and consequently, the memory and image they build around it. 

Pay attention to details like background music, scent, and overall decor to create an inviting atmosphere that aligns with your brand identity.

The image of your store in the minds of your customers will be shaped not only by the products they find and the shop itself but also by the people they meet. It’s fundamental that your staff is well-trained in the image you want to project on your customers. They should embody your brand in what they say, how they behave in store and how they appear. Additionally, they should be well-versed in the technical aspects of the products and brands you sell, enabling them to effectively pitch them to your customers.

Your brand image should be consistently communicated and reflected on all your marketing channels. This includes first and foremost your social media but also your emails and any other digital or physical means you use to engage with your audience and attract new customers. 

All your channels should convey the same message and represent your brand in a cohesive way. This includes the language you use, the colours and the visuals. 

Consistency across all platforms ensures that your brand is easily recognisable and memorable to your audience.

When highlighting brands and products, prioritise those that best represent your brand’s identity and values. This not only reinforces your brand image but also helps attract the right target audience who resonate with these values.

Develop a content strategy that aligns with your brand’s voice and vision. Create engaging content that tells your brand story, showcases your products, and connects with your audience on an emotional level. This could include blog posts, videos, social media updates, and email newsletters.

As highlighted at the beginning of the article, your product and brand selection are crucial in establishing the consistency of the brand image of your store. To ensure your assortment strategy truly reflects your brand identity, consider signing up for the free coaching programme designed for future shop owners and book a session with one of the Ankorstart assortment experts. Discover more about Ankorstart here.