CINCINNATI, OH - Oftentimes in the retail sector, strong branding has the power to cement itself in the minds of consumers, raking in foot traffic that ultimately leads to increased profits. And with top competitors like Walmart and Whole Foods, this tactic is proving to be more complex for traditional grocers like Kroger.
Earlier this week, a company memo was released to Business Insider, stating that Kroger’s former approaches to branding are falling short. The memo also stated that more news on the matter will be released next week, creating quite a stir across the industry.
"It's been long proven that strong brands drive business," the memo stated, according to Business Insider. "But today, customers don't know what to make of the Kroger brand. We're trying to be everything to everyone—saying too many things in a fragmented way. And it shows. We're a Fortune #17 company that doesn't break the top 100 in brand value ranking."
As competitors are experimenting with new discount and online formats, it appears that Kroger plans to switch up its strategies as well. In the memo, the company claimed to be losing out to its competitors because of these new initiatives. So, the question on everyone’s mind seems to be: How does Kroger plan to refocus its branding efforts?
"Core equities that drive strong grocery brands, including quality, freshness, making life easier, and saving money, are now what our competitors are known for," the memo stated.
The Business Insider article mentioned that Kroger has taken a firm stance, stating that “fresh shouldn't just be for some, it should be for all." With its new brand, the company hopes to "drive repeat trips and very firmly solidify [its] leadership position in the industry," the memo stated.
While this still lies in the realm of rumor, the official rebranding announcement will be released on November 6, according to the memo, so stay tuned in to ANUK.
