Future Of Retail: Store Within A Store
Merchants and brands are experimenting with new retail approaches within their existing real estate.
In our research for PSFK’s Future of Retail report, our consulting team realized that merchants and brands are experimenting with new retail approaches within their existing real estate. Elevating the simple concession, brands are creating small stores within larger retail environments that allow them to sell their own product and therefore take control of brand image, merchandising and most importantly, pricing. Retailers are also creating independent concessions with an independent look and feel that provide focused services and product ranges in order to drive sales.
MANIFESTATIONS OF THIS TREND:
Bricks-and-mortar retail can win over online shoppers and turn the burden of real estate into a huge competitive advantage by creating social, family experiences. Online is solitary, so bricks-and-mortar stores have an opportunity now to carve out a clear and differentiated shopping experience.
– Brian Backus, CEO and Founder, Kidlandia
Store within a store concepts are a great opportunity for designers to produce something unusual and share that experience with shoppers.
– Madelaine Evans, Head of Buying, Topshop
Department Stores can differentiate them- selves with store-within-a-store concepts. Brands can curate experiences that delight shoppers unexpectedly.
– Ivy Ross, Chief Merchandising Officer, Gap
It’s important for a brand to have a presence that’s intimate and unique as well as one that provides an opportunity to convey the brand in a more meaningful way than just a rail of clothing and your logo.
– Bridget Russo, Global Marketing Director, Edun
Store-in-a store concepts present an opportunity to be inspired by the freshness of the in-the-moment discovery. Make the experience temporary and discovery-driven.
– Mike Milley, Manager, Design Research + Strategy, Samsung
Creating branded experiences within the store allows retailers to provide a product or service that their brand typically can’t support. doing so can provide their customers with considerable value if the branded experience is relevant to customers needs and is more accessible or convenient than is typically the case.
– Tom McCann, Director Retail Usability Research, Staples