Demise of the cookie-cutter store Due to zoning restrictions and waning consumer interest, stores can
no longer take a "same-same" approach to the way they look
both inside and out. A well thought-out, indigenous design is required
for most circumstances in today's retail environment. More growth from new concepts Brands can no longer expect growth from their existing, over-stored
concepts. Retailers will have to look at product and customer extension
through the creation of new brands. (Think: Tesco / Fresh & Easy
. . . Best Buy / Geek Squad . . . Abercrombie / Hollister) Evolving portfolio of experiences In order to grow, brands will have to think of themselves as brand merchants,
which will require addressing consumers needs across their lifestyles,
whether it's baby clothes, or maternity clothes or food to go or your
website, this will require the execution of multiple experiences. Smaller, more relevant brands No longer will one brand, 1000 stores be the earmark for success, but rather, 5 brands, 200 stores each . . . each one reaching more relevance with their direct target customer. Online tipping point Soon, broad-band will expand to the point where it'll be easy for everyone
to shop online, and when that happens, shopping online will multiply
logarithmically. This happening will change the experience at retail
substantially, making each visit to bricks retail a brand attention-grabber
for all who venture out. |