Make consumers lives easier, happier and healthier to win the retail battle
Posted by phemmie.wilkinson | 15 September
‘The most meaningful retail brands achieve competitive advantage when their product, service and business ethic relate directly back to improving people’s lives at the individual level’ - reports Havas from their recent ‘Meaningful Brands UK Retail Report 2015.’ Interesting stuff. But what does ‘meaningful’ actually mean?
Being ‘Meaningful,’ according to HAVAS, is measured against three key areas:
2.Contribution to society and community
3.Contribution to people’s personal wellbeing
And it notes that the most meaningful retail brands achieve competitive advantage when their product, service and business ethic relate directly back to improving people’s lives at the individual level, which shows that:
- People will trust them three times more than competitors
- People are 6 x more inclined to choose to buy from retailers that are understood to work hard to improve quality of life
- Customers are 50% more likely to remain loyal
- People are more than twice as likely to recommend others buy from top performers in the study than their competitors
- A brand’s “Share of Wallet” – a metric used to indicate a brand’s financial performance within their sector – is on average 46% higher
So it’s no surprise that the Top 10 performing UK Meaningful Retail Brands are supermarkets and e-tailers Amazon, Marks & Spencer, John Lewis, Aldi, Sainsbury’s, Boots, Lidl, ASDA, Tesco, Morrisons.
So what are they doing right? And how can TLC help you become more meaningful? Well we’re a dab hand at helping brands connect deeply with what matters most to their customers – their personal wellbeing, such as making them healthier, happier or adopting better habits. We have a whole host of health and well-being rewards from our personal training sessions, yoga classes, 1 month free gym membership at Nuffield Health, and even a FREE pair of Miadidas customisable trainers and a FREE Fitbit, right through to a free pamper treatment and discounted spa days – there’s something to help you be more appreciated, recommended and attractive to customers.
Want to know? Drop us a line on firstname.lastname@example.org