La Caixa
The Scenario:
La Caixa is one of the largest banks across Spain. They are also one of the biggest retailers of Samsung phones in the region through its loyalty rewards programme that links its banking services to Samsung phones and other digital products. La Caixa was looking for advice on how to improve and evolve the Samsun proposition into its chain of refurbished physical banks.
What we did:
We assessed the current physical delivery of the Samsung promotion in its physical banks, the communication, and a trial La Caixa shop concept that extended the principle to include other consumer brands.
“Customers are not so selective these days as to who they see as retailers and those they don’t. They like some brands and not others, and are happy to form a wide and flexible relationship with those that they trust.
This is creating an increasing number of brands who are ‘accidental retailer.’ Businesses that find themselves with a retail opportunity but have no traditional skills in the field.
Many brands are seeking help and looking for resources to support their retailing initiatives. There are not many businesses that are not so successful that they do not want the extra income from retailing if it exists. But they realise the importance of doing this correctly wand not damaging the reputation of their core business.”
Tim Radley. Founder RETAILMEANING
What we achieved:
La Caixa received clear guidance on the commercial potential of evolving the Samsung relationship across other consumer brands, and the viability of a physical shop concept.
The guidance for further formats includes assortment planning, shop layout, display, promotional communication and customer service.
Central to the recommendations is the relationship between La Caixa & Samsung, and the speed and immediacy of promotional activity, customer services and after-sales services.
What we can all learn from this…
“Collaborations and partnerships are very important in todays retail world where often ‘more brands and better than one!’”
Tim Radley. Founder RetailMeaning