Brand is an untapped weapon in e-commerce
The year 2022 was unprecedented in several areas, and e-commerce was no exception. For the first time - after several years of steady growth, exacerbated by the coronavirus pandemic – the Czech online business experienced a decline, both in terms of the absolute number of e-shops and the total volume of sales, according to an article in Marketing & Media by Jirka Jón, Head of Strategy Ogilvy Consulting, and Nikola Klepáčková, Junior Strategic Planner Ogilvy. The article is also available online at MaM.cz.
They highlight the importance of branding in the online environment, which can provide retailers with a competitive advantage and customer loyalty. A well-defined and communicated brand can help e-shops in many ways, including influencing customer decisions or sensitivity to price changes. The results of the study show that half of Czech and Slovakian e-shops try to work with their brand in some way, but in most cases their efforts end with a name and logo. More than three quarters (78 per cent) of respondents said that their e-shop has a defined brand. The vast majority (96 per cent) have a logo and name, and 71 per cent have a visual identity. A combination of logo, name and visual identity (i.e. the visible parts of the brand) is used by 44 per cent of respondents. Far fewer e-tailers have defined the 'invisible' - 40 per cent have anchored values and 39 per cent have a mission and vision. Positioning has been defined by the fewest e-shops (14 per cent).
The full results of the study are available here.
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