Insight Into the Retail Market

1. What fast, up and coming retailer is currently flying under the radar?

• Pink and Co

• http://www.pinkandco.ca/

• Has opened 6 stores in less than 3 years

• Canada’s answer to Juicy Couture

• Low to moderate price points

• Fashionable, urban stylewear

• Has established a brand identity that appeals to and has evolved into a motto for a community of consumers .

A similar exercise might prove to be useful and beneficial to Dynamite. Why?

Customers don’t just buy a product, they buy (into) its identity.

And while the Dynamite name and product is known, it is lacking in the area of having an intimate connection with its clients in terms of “who it is and how it fits into their lives”.

While Rachel “exists”, she needs to have a voice outside the confines of the Dynamite head office. Rachel needs to be provided with an outlet to express her thoughts, values and identity, so as to be able to engage consumers who think like her, act like her or want to emulate her. Establishing an emotional bond of this nature will ultimately translate into a greater interaction with and interest in the Dynamite brand.

2. What are the ingredients for retail success?

• Engaging product (appearance, quality, price and/or value)

• Great location

• Avid sense of competition

• Insightful

• Forward-thinker

• Strong staff backed by an equally strong management

• Eye for detail (from various perspectives: fashion, financial and logistics)

• Easy, non-complicated shopping experience (in-store and on-line)

• A branding relationship that goes the extra mile by engaging the client and creating a bond that stimulates interaction, instead of simply responding to the core factors such as assortment and price.