George Minakakis, Founder and CEO of the Inception Retail Group, says branding is important for retailers and needs to be done right to be effective
Minakakis says a brand must be a reflection of a retailer’s vision.
He recalls how his father once told him that your business can only do two to three things well.
Fundamentally brands are made up of a whole bunch of attributes and each brand is different but for the most part for a lot of them it comes down to who is the brand’s target audience.
Over the years many retailers have come and gone in Canada. Their brands wavered. They tried to be too many things to too many people.
Minakakis says retailers need to protect their brands and protect the sanctity of their brand from being marred by anything. By doing too many things, brands get thin and end up not doing everything very well.
He says Artificial Intelligence is going to change things for a lot of brands and how brands reach consumers.
Minakakis says proper branding is important for any size of retailer from a solopreneur to a major company.
“If you do too many things, it becomes confusing,” he says.
Minakakis says some jingles from commercials and slogans by brands have a never-ending impression on consumers. They get into a person’s mind and stick – becoming a part of a person’s DNA. And they’re powerful. But only a few retailers still do it and do it well in a crowded marketplace.
