INGENUITY and a clear understanding of consumer needs and demands are vital in developing and advancing a start-up brand in the contemporary market. This was emphasized by design expert Kevin Kelley of design firm Shook Kelley Design in an interview.
Consumers, Kelley said, are always on the hunt for brands that can solve their problems. And, more often than not, industry giants have already been trying to solve these problems and are more likely to win the who’s-first-to-do-it game.
“This is where the ingenuity of brand thinking and the insightfulness of understanding consumer problems come into play. The more insightful and profound you are in uncovering consumer problems, the more valuable, relevant and in-demand your brand will be to consumers,” he said.
Kelley cited the ride-sharing application Uber, which uncovered a series of problems that consumers encountered and dreaded when trying to hail, ride in, and pay for the existing solution source: the taxicab industry. “These taxi problems have been a standard part of the taxi experience for a very long time and most of us, including the taxi industry, just accepted them as ordinary part of the experience. But Uber, without any prior knowledge, experience or resources in running a taxi company, recognized these taxi problems as annoying and frustrating. So they set about solving them,” he explained.
Addressing the need and maintaining its foothold allowed Uber to now be a $50-billion company, rivaling the market caps of established blue chips like FedEx and UPS.
“This kind of problem-solving approach is how an upstart can create a successful business and brand,” Kelley stressed.
In order to make money out of a start-up business, however, a company must first scope the overall economy of its domain. For certain, it takes time and effort to build a solid and effective brand presence. “To be on the profit side, it is important to recognize where your local retail economy is at in regard to its level of brand sophistication and overall retail supply and consumer demand dynamics. Many emerging economies, such as those found in certain parts of Southeast Asia, have a unique, but temporary, situation with a fast-growing middle-class population with increasing levels of disposable income, but have limited retail supply/outlets to satisfy this demand.” he said.
He noted that retail has been going through an “evolution and transformation” in the past few years. The change, Kelly explained, involves the shift from a more commodity-focused or utilitarian-based retail approach, to a much more lifestyle retail brand approach that provides consumers more choices for how to live, express and individually differentiate themselves.
“In certain markets like Thailand, Indonesia and the Philippines, it is quite obvious that there are more mega-malls and retail outlets available to consumers than ever before, and more are coming their way. These local markets have never had so much choice, and consumers now have the option to decide which brands to choose. Retail profits are going to be increasingly frustrated and this is where more unique branding strategies will play a pivotal role in distinguishing your offering from that of your competitors,” he explained.
Kelley is one of the over 30 speakers who will share their insights on the trends and updates on the global retail and marketing industries during the Asia-Pacific Retailers Convention and Exhibition (APRCE) 2015 this coming October.
Organized by the Federation of Asia-Pacific Retailers Association, the regional organization of 17 recognized national retail associations in Asia Pacific, the APRCE is slated from October 28 to 30 this year at the SMX Convention Center in Pasay City. The Philippine Retailers Association (PRA) hosts the prestigious event,
Manila APRCE 2015 is spearheaded by PRA Chairman Frederick Go, president of Robinsons Recreation Inc., as the overall chairman.
It is copresented by the Tourism Promotions Board, The SM Store and Wyeth Nutrition. With Bench, Flight 001 and Penshoppe as platinum sponsors; Robinsons Malls, Ayala Malls, PLDT Alpha, Megaworld, Unilab, Mercury Drug as gold sponsors; Duty Free Philippines, HP, Wilcon Depot, Kojie-San, Celine and MET Tathione, Unilab as silver sponsors; Araneta Center as bronze sponsor; Philippine Airlines as official carrier; Sportshouse as sponsor; Solaire Resort & Casino Hotel as official partner hotel; Shook Kelley and IGD as special session sponsors; Media Blitz Group as official PR partner and convention organizer; Retail Asia as official international publication; Asia-Pacific Travel Retail Association as partner organization: Fascin8, as official digital advertising partner; official newspaper—Philippine Star; official media partner—Business World; Retail Customer Experience, Asia Briefing and Oxford Business Group as digital media partners.
PRA President Lorenzo C. Formoso said the three-day program aims to explore and discover new approaches to issues facing the region’s retailers and highlight innovative solutions that can help them differentiate themselves from competitors, and to deliver greater value to consumers.