{"id":2711,"date":"2016-07-27T00:49:04","date_gmt":"2016-07-27T00:49:04","guid":{"rendered":"http:\/\/www.thebrandingjournal.com\/?p=2711"},"modified":"2016-07-27T00:49:04","modified_gmt":"2016-07-27T00:49:04","slug":"londons-oxford-street-reposition-brand","status":"publish","type":"post","link":"https:\/\/www.thebrandingjournal.com\/2016\/07\/londons-oxford-street-reposition-brand\/","title":{"rendered":"London’s Oxford Street Re-position their Brand in a Bid to Boost Sales"},"content":{"rendered":"

With an ambitious target to reach, London\u2019s Oxford Street is aiming for \u00a36bn in annual sales by 2020.\u00a0 Repositioning its brand and communications in a bid to align it more strategically with the environmental factors surrounding it.\u00a0<\/strong><\/em><\/p>\n

Can this target be achieved and what will a re-position of the brand look like for consumers?<\/p>\n

\u00a01)\u00a0Repositioning<\/h1>\n

Oxford Street currently generates \u00a35bn a year in sales. \u00a0In 2018 with the introduction of the Crossrail line (which will connect more towns to the famous street and has already estimated a 30% increase in trips to the West End), Oxford Street are of course incentivised.<\/p>\n

They\u2019re aiming to change its status in the marketplace in order for it to keep up with its consumer\u2019s wants and demands.\u00a0 But to also help increase retail sales on the street by \u00a31bn.<\/p>\n

Their re-positioning sees them focus the brand exclusively on partnerships and \u201cmoments\u201d for consumers.\u00a0 They want to build on the big named brands that are currently located on Oxford Street. \u00a0Such as Dyson (who has opened its first ever store here) and such differences as the Shakespeare theatre at Selfridges.\u00a0 Making it a `hotbed` for these \u201cmoments\u201d to be created and only ever experienced on Oxford Street (well at least first experienced on Oxford Street).<\/p>\n

\"oxford_street_the_branding_journal_1\"<\/a><\/p>\n

2) Strategy<\/h1>\n

Agency Wasserman (who pride themselves on creating unforgettable brand experiences) has been appointed to widen the current sponsorship strategy.<\/p>\n

Oxford Street will now see their brand communications and messaging proudly display the slogan \u201cFirst seen on Oxford Street\u201d, to represent their re-positioning strategy. Using this to connect them to their objective of `exclusive experiences` and `moments`.<\/p>\n

This strategy is to support their new brand focus. \u00a0Also working alongside their business-led strategy which focuses on lowering pollution on the street over the next four years.<\/p>\n

Speaking to Marketing Week, Luciana Magliocco, Marketing Manager at the New West End Company commented: \u201cWe want to grow Oxford Street by making it a hotbed for world first\u2019s. Whether that\u2019s the Shakespeare theatre at Selfridges,\u00a0Dyson opening its first-ever physical store here<\/a>\u00a0or\u00a0John Lewis\u2019 Smart Home only being in its Oxford Street store,<\/a>\u00a0we believe the key to growth is to give people things they can\u2019t get anywhere else.<\/p>\n

\u201cBusinesses have a real growth to open their flagship stores here and we are confident that will only continue.\u201d<\/p>\n

3) Target Market<\/h1>\n

Oxford Street have to take into account consumer perspective and business perspective \u2013 as in this instance they speak to both.<\/p>\n

Their brand communication strategy and planning should of course be communicated with businesses on Oxford Street. \u00a0They also need to be able to plan ahead and align their marketing activity accordingly.<\/p>\n

Consumers also need to understand why this is happening. Why it\u2019s important and why they should be shopping on Oxford Street. \u00a0Not simply because that\u2019s where the train stops.<\/p>\n

\"oxford_street_the_branding_journal_3\"<\/a><\/p>\n

\u00a04)\u00a0Not all plain sailing<\/span><\/h1>\n

Oxford Street now has the opportunity to shake off some of the negative brand associations it has with consumers.\u00a0 Such as the most pollution heavy street in the world. \u00a0Hence their current business-led strategy, which they’re currently working with the current retailers on.<\/p>\n

Such things cannot be changed immediately. \u00a0This is not something which is going to go away overnight but new invigorated brand messaging can help.<\/p>\n

Of course there is also the implications of Brexit to build into their strategy.\u00a0 There may be a negative effect on consumer spending over the coming years and like any business, contingencies must be put in place.<\/p>\n

However, Magliocco, is quite confident, \u201cOxford Street will become the first shopping stop from Heathrow, so there is a great opportunity to attract tourists. There is a strong strategy in place and we\u2019re confident we\u2019ll see increases in footfall, investment and flagship stores over the coming years.\u201d<\/p>\n

References:\u00a0<\/strong>Perfect Pearl Solutions<\/a>,\u00a0<\/em>Marketing Week
\n<\/em><\/a>Pictures from: <\/strong>Guoman Hotel,\u00a0<\/em>Marketing Week,\u00a0<\/em>e-architect<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"With an ambitious target to reach, London\u2019s Oxford Street is aiming for \u00a36bn in annual sales by 2020.\u00a0…\n","protected":false},"author":15,"featured_media":2715,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"London\u2019s Oxford Street is repositioning its brand and communications in a bid to align it more strategically with the environmental factors surrounding 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