Canadian Retailer - The Marketing Issue - 39

BY ROBERT PRICE
INTERAC wants customers to be in the black.

"Don't borrow from tomorrow," the debit payment company's
call to action reads. It's a powerful message and part of a branding initiative focused on consumers and retailers. Not just because living debt-free is good for individual consumers, but because it's good for all of us, together.
Bye, bye debt

It was a change in how Canadians were using credit cards that
prompted Interac to update its branding.
Over the years, credit card companies and financial institutions have
been giving Canadians permission to
use their credit cards more often, and
in more ways than Canadians traditionally used credit. Instead of using
the credit card only in emergencies,
like grandpa might have done, Canadians enticed by loyalty points and
rewards started buying their daily
bread on credit.
Andrea Danovitch
Retailers, too, have felt the pinch
of unbounded credit card usage. The
NIMBLE BRANDING
added costs credit acceptance levels
"Typically, it's external factors that drive brand
on retailers is either absorbed by retailevolution more than anything," says Danovitch.
ers or passed along to the consumers.
"And in our case, there was certainly lots of change
Nobody but the credit card companies
over the years in the payments landscape."
and financial institutions profit from
The difficulty for business is how quickly external
credit card use.
factors change a market-and demand change in
a brand.
The branding features black backDanovitch says retailers need to stay nimble in
grounds with messaging overlaid in
their product offerings and messaging-two
bold, confident typeface. Imagery of
factors that contribute to the brand. If a popular
everyday life reminds consumers of the
new product hits the shelves, retailers have to
importance to their lives of paying with
stock it or else appear to be behind-the-times.
their own money. In one spot, a shopper
"If there's something in the category that is unique,
make it your own or risk losing the business. You
thinks about buying Christmas gifts on
have to be at the table," says Danovitch.
credit. She's saved by a chorus of singAnd brand managers have to react to social
ing toys who warn her against debt.
forces and keep the brand current and alive. If the
"Credit can be a slippery slope for
brand messaging doesn't speak the language of
some who might use it too much and
the consumer, it isn't saying anything.
not know how to budget accordingly,"
Retailers who want to extend their brand should
explore how new product offerings can open
says Andrea Danovitch, AVP of Marup markets without sacrificing the brand in the
keting and Brand at Interac Associaprocess, says Danovitch.
tion/Acxsys Corporation. "Our brand
"You want to be nimble enough to understand
is really about paying with your own
the trends and how to adapt them without losing
money, living within your own means,
your key customer and demographic," Danovitch
advises retailers.
and sharing in the benefits of paying
with your money."
And the benefits are many.
"You won't have credit card debt," says Danovitch. "You won't
see your favourite stores closing down in your local neighbourhood because they couldn't afford to stay open anymore."

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