An injection of £242 million will see the Homebase brand transform in to Bunnings, aiming to gain a foothold once again in the DIY market.
As it stands Homebase has lost its strategic direction, and is failing to excel in the home furnishing and the DIY market, leaving it behind the likes of Habitat and B&Q respectively. A four per cent sales drop in 2015 saw the company closing 27 stores and it became clear that something needed to change.
So what will this rebrand achieve?
Homebase is a recognised brand, and has been established for some time. However, this does mean that customer’s already have ingrained views regarding the company, which could be positive or negative. By rebranding Homebase, Bunnings will attempt to reinvigorate the brand and invest in different areas such as customer service and the product portfolio, giving it a new strategic direction to compete in the market.
Although a new brand will generate new interest and a buzz, it will cost large amounts of money to rebrand, and a time to become established within the market.
Bunnings is likely to emphasise service and quality, as well as strengthen its product depth, which was one of Homebase’s biggest weaknesses. It will also result in a uniformity across Bunnings own brand products, marketing and materials.
As with any rebrand, time will tell whether the rebrand from Homebase to Bunnings will be successful, and whether it will pose any threat to B&Q and increase competition in the DIY market.
If you need to freshen up your brand, but don’t have the expertise to do it yourself, get in touch with Creative Marketing Services – our highly skilled team could give it a new lease of life. Give us a call on 0113 287 7973 to see how we can help.