Some brands will be stylish, others vintage, still others cheap and some high quality etc. Old Navy needs to find its niche. Why should customers visit their stores and not the rivals? This distinction must be attained and heavily advertised. This must be done with customer's buying behavior in mind. What will lure the customer to Old Navy for its own products?
Seek Joint Promotion
While cross over products are not always a good strategy for waning businesses, it can definitely help if some mutual benefits can be achieved. Instead of inviting and keeping cross over products as KMART did with Martha Stewart, it's better to seek joint promotion or what is known as inter-firm collaboration. For example if Old Navy has some cashmere products to display, find a top-notch firm that sells matching...
In such ventures, customers of the other brand are also attracted to the store and they might end up purchasing some of Old Navy's own products.
Observe Market Trends
Do not start developing products, which are not needed in the market or are in huge supply already. If your pair of jeans is nothing different from the pair of jeans offered by rivals, do not keep pushing the same product forward. Instead observe market trends and see which new products are more in demand and what kind of demand can be easily created. This would help in becoming pioneers in new products. The firm would then become synonymous with innovative ideas.
These steps if effectively taken and implemented should bring in more customers and higher revenues.
