• Brandweek, Thursday, August 5, 2010 10:23 AM

Kmart CMO Mark Snyder, a former Holiday Inn marketing executive, discusses the retailer's back-to-school strategy with Elaine Wong. With reports that drastic price-slashing is already hitting teen retailers, Synder says that Kmart has a three-pronged strategy and value is No. 2.

"The first involves 'more fashion,' and we've absolutely delivered on that," he says. It has introduced three new brands in addition to GLO [the Jones Apparel Group jeans and accessories line]: Dream Out Loud by Selena Gomez, Bongo and Rebecca Bonbon.

Value goes beyond price, Snyder says, to quality. Consumers want products that will last. They also want convenience, and the retailer is "stepping up" Kmart2go, a mobile app that allows them to order directly from kmart.com and either pay right then or put the item on layaway. Indeed, "more ways to shop" is Prong No. 3.

Snyder singles out Kmart's "Shop Your Way Rewards" program, which allows customers to build 10 points of equity for every dollar they spend, as its most successful recent initiative. He says it has allowed the retailer to engage with customers in ways it never has before.

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