Have you heard say that “together we can more” this is true in the retail industry, and this is shown by the success of the co-branding in retail. In this post we bring you the best examples of this trend.
When we think about brands of products, surely the first that come to mind are those that are characterized by their quality and reputation.
Those brands best reputation in the market have a substantial competitive advantage to take the preference of the consumers in their respective enterprises.
But a single mark usually is not able to specialise with success in several areas at the same time, so many companies have seen the need partner with other brands in search of combine their capabilities to get a mutual benefit.
This temporal fusion between marks is known as co-branding and enjoys great acceptance in the retail industrythanks to the excellent results that it brings when they join efforts in bringing the best of each of the parties.
But before moving forward in some examples success co-branding in retail, we must start from the base and a better understanding of who it is.
What is co-branding?
This is a marketing strategy that consists in the temporal fusion (in general) with the aim of promoting the value and the profitability of both. This practice is used to enable the input to other markets, and gain the attention of new consumers and also to share the costs generated by the concept of advertising during the campaign.
Collaborations, synergies and joint strategies have achieved very good results that drive to both parties, and motivate others so many brands in the world to emulate this type experiences.
Let's go over then the examples of co-branding in the retail market:
1. McDonalds and Oreo
The world-famous chain of fast food restaurants of the golden arches, you know very well its privileged position in the world of burgers and fries, however, know that in the world of desserts do not have such a good reputation for itself, so make use of the co-branding in retail to improve the satisfaction of its customers.
A good example is represented by its star product McFlurry for which they have been associated with Oreo, another leading brand in the global market of cookies, succeeding in improving your product and to attract more consumers relying on the good reputation of both.
This is not the only case of co-branding applied by McDonalds, as well they have done with the brands of chocolates, M&Ms and Snickers.
2. Alexander Wang and H&M
This strategy of co-branding in retail it was made with the aim of providing a special edition of products from renowned designer Alexander Wang aimed to be sold at affordable prices. In addition, he sought to publicize this brand of fashion in the youth market.
For its part, the retail chain H&M would also receive significant benefits to unite your brand with the renowned master of fashion, getting not only very good sales, but an important position as a shop trendy.
3. IKEA and Nintendo
During the global launch of the Nintendo Switch in the past 2017, the giant of the world of video games and the international chain of retail IKEA, they decided to ally themselves through the co-branding for mutual benefit.
The result was very positive, because hundreds of potential customers had the opportunity to test the new console and IKEA attracted many young people who came to live the experience of the Nintendo in your store.
The strategy joint served in addition to encourage loyalty among your customers, which received benefits through its loyalty programs, participating in demonstrations and special giveaways.
Conclusion
When analyzing the experience of the co-branding in retail we can see the value of the phrase “in unity there is strength” because when two brands work together as a team manage to expand their reach, penetrate new territories and segments, thus obtaining a benefit common to commercial level, but, in addition, satisfy a vast number of consumers from such a merger will follow each step of the brands and recommend, thus multiplying the benefits.
