Despite the official end of the most recent UK recession, many businesses (particularly small retail businesses) are still feeling the pinch. In such situations the general consensus is to stick to tried and tested methods of marketing. Retailers and buyers alike aim for the same thing – trusted brand identity.
In times of financial hardship most buyers will stick to what they know – broadband provider, parcel delivery service, hairdresser, silk flowers crafts, fruit and vegetable stall – the importance of brand identity is relatable and changeable through every level of business.
For retailers, nurturing strong brand identity encapsulates techniques ranging from shop floor décor and sale pricing to customer service and stock quality. Arguably the most important factor of frugal business brand growth is brand promise. Break that promise and it could prove incredibly difficult to win back customers.
An important lesson to be learned from America’s Great Depression of the 1930’s is the value of customer service. Take care of customers competently through both fruitful and financially difficult times to boost business/customer trust, foster strong brand identity and increase customer loyalty that will likely span times of economical abundance and hardship alike.
Successful retail design needn’t be showy or expensive to convey business identity and enhance brand promise. The simplest retail spaces are often the most effective. Take the burgeoning art of colour psychology, for example. Identifying the most appropriate colour for a brand message isn’t hard, and could thriftily help create a soothing, buyer-friendly atmosphere. Why are floral arrangements and silk flowers delivered to patients in hospital? Nature-inspired decoration like floral arrangements and the colour green encourage feelings of health, trust and confidence in brand authenticity.
Identifying and implementing the most apposite fixes for the small business retail space doesn’t have to be financially pressing. During times where money is tight and the future uncertain, the importance of simplifying business practice cannot be overemphasised.