Back on the Myer brand-wagon

In pitching itself to its prospective new owners during the IPO – its 3.1 million Myer One store card holders – it promised to "excite, inspire and reward". But how does the 109 year-old brand plan to do that?

Beside its IPO campaign, the past few months have also seen Myer's advertising focus heavily on its the flagship Melbourne store refurbishment.

Last week it handed its $58.7 million media planning and buying account to Melbourne-based agency Ikon and it is now likely to be examining where its brand could use a life next year – though the company won't be drawn on this sensitive topic.

However, it's interesting to note that Myer has already taken steps to reach out to a broader range of consumers this year, stepping away from its traditional customer base – 77 per cent of the store's most loyal customers are over the age of 35.

In August this year the department store "revitalised its youth offering" with the launch of a 'new look' advertising campaign and website, starring artists Brett Chan and Ainslie Fletcher, in an attempt convince the younger consumers that it is Australia's "ultimate destination for youth fashion and culture".

The store has also been using plus-sized models in its fashion shows as it looks to showcase a vast and adapting fashion range – something it has been attempting to do since January 2007, when it signed the not-so plus-sized Jennifer Hawkins as the face of its brand, in a deal worth a reported $4 million.

In 2003 it introduced the 'My Store' branding. Not everyone's a fan – according to Marketing Magazine, the department store still needs to build on the "greater warmth and intimacy" of the 'My Store' tag line and find a "true connection" with its consumers.

It can also do this directly – in recent years Myer has placed additional emphasis on customer satisfaction. A recent survey from Roy Morgan Research found Myer had its highest customer satisfaction rating in two years.

Myer investors were told during the float that the brand was at the beginning of a "turnaround phase" and that the company's vision was to be an "international class retail business". Those same investors will no doubt watch forthcoming advertising carefully for reassurance that the brand deliver on the IPO rhetoric.