Focus on your core but don’t be afraid to diversify, says Graham Burridge, md Europe.
Disney Store’s Europe md has offered three key pieces of advice which retailers could learn from the brand owner’s business model.
Graham Burridge was speaking at this year’s Retail Week Live yesterday (March 27) – which continues today (March 28) at the Intercontinental London – The O2 – about how Disney is changing its strategy to keep up with consumers, knowing your brand, understanding your audience and expanding through diversification.
Graham said that the first lesson would be to “focus on your core”, making sure you deliver consistently and do the basics brilliantly. He cited the example of Disney Store bringing together storytelling and quality in its products to differentiate it at retail and also making sure its service and brand knowledge from its in-store ‘cast members’ was second to none.
The second piece of advice was to stretch your brand, where it is relevant.
Graham told the assembled delegates: “Disney has looked to see where it can stretch its brand and widen its audience. For example in the acquisitions of Pixar, Marvel, Lucasfilm and, most recently, Fox – acquiring know-how and content adjacent to existing audiences.
“Disney Store has stretched, too. We’ve moved into more kids apparel, as well as adult product as we look to offer breadth that appeals to a range of audiences beyond the traditional and expected. From 3-73 is something which we are coining.”
Graham said that this diversification can also be seen in the kind of products which are being delivered, citing Pizza Planet (as seen in Toy Story) and Stark Industries (Iron Man) hoodies which are available on shopDisney.
Graham advised “don’t stand still” as the final point that retailers can draw from Disney overall.
Examples here included the introduction of Disney+ and the recent activity around the 90th anniversary of Mickey Mouse, making him as relevant today as he ever was.
shopDisney, meanwhile, stretches the Disney Store’s proposition into personalisation and moving into trying to find different brand touchpoints for its consumers.
“There’s also a focus on social platforms and influencers, trying to stay relevant in all of our functions across the business,” Graham said.
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