Glossy’s Post

'“This whole journey of launching Bloomie’s and opening Bloomie’s has really been about innovation and learning, and frankly listening to [customers].”' Really interesting article about how Macy's is developing a scaled-down, contemporary, Bloomingdale's format (Bloomie's) to bring a curated version of the department store experience to more customers. It quotes analyst Jessica Ramírez as saying that 'department stores have struggled to understand shoppers and what they want in recent years.' Meanwhile discounters have been increasing their market share. So by really studying local markets, understanding customer needs and wants, and creating a memorable, differentiated, edited brand experience, the new format has shown itself to be more productive than its traditional parent. A great demonstration of how even the perceived 'dinosaurs' of physical retail can tap into the human need for social interaction, by listening to customers (!) and creating physical stores that deliver an experience that can't be replaced by online, and is worth the effort of getting there. #futureofretail #ambience #highstreet #customerexperience

Now we can say when it comes to Beauty Retail, Go Small or Go Home!! While size and scale have long been a marker of success for stores, more and more forward-thinking retailers are making the environmental case for staying small. Big-box stores like Walmart or Target are, on average, 100,000 to 200,000 square feet. Some cities have even pushed back against the traffic influx of big-box stores, parking overload and strain on local businesses with store size cap limits. Thus, a store coming in at under 1,000 square feet is a substantial departure from today’s norms, even for a designer flagship or independent boutique. Given that buildings are a key component of creating a low-carbon future, the case for tiny stores is making ripples. Whether propelled by eco-values or sheer necessity, the tiny store may be here to stay (and not just as a pop-up). Beauty brands from Aveda to The Ordinary Object have been shrinking their footprints without compromising service. Even department stores such as Bloomingdale's 's (with its novel Bloomie’s store) and Macy's 's count smaller-format stores as key to growth. Clothing brands like Reformation are dialing down stock-keeping units, in theory, having trialed a less-is-more approach to merchandising by only stocking one of each item on the sales floor, relegating the full-size run to the back room. #sustainability #esg #brands #beauty #cosmetics #businessmodels #fashion #retail #beauty https://lnkd.in/e_p3XSXC

THRILLED and PROUD that Positive Retail has been named 'high street disruptor' by Vogue Business Thanks for the conversation and support Kirsty McGregor The high street certainly needs disruption, the whole system does and we are here to do it. 😜 Onwards we go. It's a new day for retail. Some words from me in the article...... ‘The high street has been ravaged by greed, constant discounting, Black Friday, lack of decent leadership, and a race to the bottom. Total overconsumption and overproduction. When I started [as an assistant buyer] at Topshop 20 years ago, our target on European shoes was to make a 56 percent margin and 70 percent full-price sell-through. When I stopped working [for fashion retailers] three years ago, my target margin was 80 percent with a 15 percent full-price sell-through. Stores are planning for discounts. They are trapped. Why does a garment come in at full price in January and then by June it’s worth a fraction of that to the customer and to the business, all to clear through it and pile more on top? Nothing is created to actual demand or to sell out at full price. Positive Retail (the resale concept Woods set up in 2020, which mixes surplus stock with private seller consignment) has proven that, given an elevated environment and careful curation, surplus can hold its value. People need human connection. People want to shop in person. Especially with resale, they want to try it on. People also want to chat: they want a therapy room, a routine, and a thriving place to live that they can be proud of." Photo cred @rebeccadouglasphotography  Cashdesk & cred @woodguys_carpentry 

We have been named in as high street disruptors by Vogue Business. !! In their article ‘What will happen to the high street?’ Kirsty McGregor wrote ‘We spoke to a range of high street stakeholders and advocates about why high streets are struggling and what the future holds. Among them are disruptors such as Positive Retail. Vogue Business main takeaways? On the high street of the future, retailers will have smaller footprints that work much harder; human connection will be recentered; and, above all, curation is key.’ We’ve nailed it. 😎 Thanks for having us, championing our concept as the future. Long may we disrupt and bring change! Words from our founder Anna Woods in the article. ‘The high street has been ravaged by greed, constant discounting, Black Friday, lack of decent leadership, and a race to the bottom. Total overconsumption and overproduction. When I started [as an assistant buyer] at Topshop 20 years ago, our target on European shoes was to make a 56 percent margin and 70 percent full-price sell-through. When I stopped working [for fashion retailers] three years ago, my target margin was 80 percent with a 15 percent full-price sell-through. Stores are planning for discounts. They are trapped. Why does a garment come in at full price in January and then by June it’s worth a fraction of that to the customer and to the business, all to clear through it and pile more on top? Nothing is created to actual demand or to sell out at full price. Positive Retail (the resale concept Woods set up in 2020, which mixes surplus stock with private seller consignment) has proven that, given an elevated environment and careful curation, surplus can hold its value. People need human connection. People want to shop in person. Especially with resale, they want to try it on. People also want to chat: they want a therapy room, a routine, and a thriving place to live that they can be proud of."

JCPenney is giving its 650 stores a facelift. Last time I was in a store (it's been a long time, I'll admit) ... new paint, carpet, and fixtures were needed, but I'm not sure this is all that is required in order to maximize and complement their online investments as they try to emerge from bankruptcy. I often talk about the need for #experiential in #retail to help feed the #shoppers' need and desire for escape as the direction for the future health of brick and mortar. The product on a shelf is no longer all the shopper wants. A coat of paint or a dusted shelf in and of itself is not an experience. Saks Fifth Avenue is taking an approach where they are trying to entice shoppers in with an instagramable store feature. Tiffany & Co. enhances their experience by playing on their cultural relevancy and introducing museum-level artworks. Babies"R"Us is improving with useful experiences like a stroller-rink. I'm not sure which of these will be the "winning" formula; frankly, they ALL will if you look at their respective shopper bases. These are well-designed with their shopper in mind, which is the key lesson here. As #retailers and brands evolve their in-store, what true experience will help YOUR shopper base and compel them? It's more than a coat or two of paint. https://lnkd.in/eBt-w5NH

Great move, Bloomingdale’s. A few years ago, I compared Bloomingdale’s and Galeries Lafayette in my master’s thesis. The study—From Paris to New York: A cross-cultural comparison of department stores and their ability to create contextual value during a global pandemic—compares how Bloomingdale’s and Galeries Lafayette approached their Instagram marketing strategies during temporary store closures caused by COVID-19 in Spring 2020. The purpose was to explore how brands can navigate the consumer’s environment and implement successful fashion marketing strategies. Read the summary ➡ https://bit.ly/2Z6clr2 I’m interested to watch what happens next at Bloomingdale’s. #bloomingdales #retail #luxurybrands

Foot Locker is lacing up for a game-changing transformation that's set to redefine the retail experience as we know it. Imagine this: You walk into a Foot Locker store, and instead of the typical mall vibe, you're immersed in a community-focused, experiential haven that caters to your unique sneaker passions. With their new "Lace Up" strategy, Foot Locker is taking cues from Apple's playbook, focusing on creating deeper, more personalized relationships with customers. 🤝📱 They are also closing underperforming locations and introducing nearly 300 new format stores. Think "Community," "Power Store," and "House of Play" – each offering a localized, immersive experience that resonates with diverse consumer groups. How do you envision the future of retail, and what do you expect from your favorite brands? 🤔 Foot Locker's transformation is a bold response to the ever-evolving retail landscape, where customer experience and brand interaction reign supreme. I’m encouraged to see this shift towards value-driven shopping experiences that cater to the unique needs and desires of consumers. What do you think about Foot Locker's "Lace Up" strategy? Are sneaker fans ready to embrace this new era of retail innovation? Drop your thoughts in the comments below. 👇💬 #Retail #LaceUpWithFootLocker #ExperientialRetail #SneakerCulture #Marketing https://lnkd.in/gZ4t3y3u

I am excited to hear this fantastic news! It is extremely refreshing to see the continued REBIRTH of the iconic Toys "R" Us brand. Massive Congratulations to Yehuda Shmidman, Don Ghermezian, and the entire executive leadership teams at WHP Global for resurrecting the BRU & TRU brands after a long hiatus. Toys R Us’ parent company, WHP Global, announced plans to open as many as 24 new stores in the U.S. as early as next year with their “Air, Land and Sea” expansion. "Toys R Us will open shops in airports and on cruise ships, with the first store set to open in time for this holiday season inside Dallas/Fort Worth International Airport. I know these are only small shops; however, growth in baby steps is more strategic and warranted for their comeback. I worked as an Executive Leader at Toys R Us from 2009-2010. I still remember customers' strong emotional bond with the TRU brand, Geoffrey the Giraffe, and its jingle, “I don’t want to grow up; I’m a Toys “R” Us kid." The exciting energy within the stores was palpable and kinetic. The atmosphere was electric, engaging, and upbeat. The environment was unlike any of the other 7 retailers I worked for as an Executive Leader throughout my 30-year tenure in the retailing sector. The ONLY other time I felt this type of energy within a retail store setting was at PetSmart. Our most loyal and dedicated customers centered on adopting a puppy/dog or kitten/cat at our stores. This emotional connection was ingrained and cemented in the customers’ psyche. I cannot overstate how this "Emotional Connection" becomes an enormously powerful ally within a retailer’s arsenal, which, if used correctly, can have a monumental financial impact on your store and the entire company. Moreover, this atmosphere creates a powerful bond connecting customers to your brand while becoming the perfect antidote for “showrooming.” I remember the massive number of faithful/loyal employees and leaders who lived and breathed the Toys R Us/Babies R Us brand for decades. Witnessing the demise of these symbolic retail brands was heartbreaking. The death knell of the original TRU brand was multifaceted and predictable: 🔴Staunchly refusing to accept innovative strategies from employees and store leaders. 🔴Lack of autonomy for store employees and leaders. 🔴Onboarding program was antiquated. Most new employees received only 4 hours of training, mostly filling out paperwork. 🔴Store staffing levels were inadequate to assist guests. 🔴Failure to adapt to changing consumer preferences. 🔴Lack of a seamless omnichannel platform across all “touchpoints.” 🔴Inconsistent merchandising standards, which changed with each truck delivery. I still remember the catchy jingle. I am rooting for a Toys R Us comeback! Were you a Toys R Us kid? The link is in the comments section. #innovation #management #retailing

Some of the biggest department store retailers are embracing a new strategy that is reshaping the way we shop with the concept of mini-stores. Supermarkets in the UK have had smaller formats for a while but Mini-stores are gaining traction in the non food sector, allowing retailers to establish a more localised & personalised shopping experience. These smaller formats are easier to open since they require less space, and can be moved easily, and because they have a smaller footprint, they offer a more sustainable option to department stores. @Bloomingdales’ concept @Bloomie’s is one of the most compelling examples of this shift. Bloomingdale's debuted the first Bloomie’s in 2021, with a 22,000-sq.-ft. store in the Mosaic District in Fairfax, Virginia. Now it’s in the process of opening its third store. Each of these are designed to remain authentic to the mother brand, while creating an exciting & highly curated experience for shoppers. Looking forward to seeing more of these compact spaces, & seeing how each caters to specific customer needs, their desire for convenience, and building sense of community. #RetailTrends #MiniStores #CustomerExperience #Innovation #RetailStrategy #TheInquistiveMarketeer 

Macy's might close its big store in San Francisco's Union Square. This could happen in 2025 or later as part of their plan to shut down some stores that aren't doing so great. They want to focus on making the stores they keep even better and opening smaller ones. Macy's has been trying to keep up with shoppers who want different things now and areas where it's tough for stores to do well. They're planning to close about 150 stores by 2026, but they'll keep about 350 open and make them nicer. In the real estate biz, we often see similar challenges and changes. At Cudd Realty, we're all about helping small businesses and our community in North Texas. When big retail stores like Macy's change their plans, it can make new opportunities for local businesses and real estate. That's where we can help figure out what's best for everyone. Thinking about how changes in the retail world could open up new real estate chances? Wanting to get the inside scoop on how it might impact your plans? Reach out and let's have a conversation about what's happening and where you could fit in. Call or text me, Michael Cudd, at 940-595-0138. Let's turn change into an opportunity together. #CuddRealty #NorthTexasRealEstateNews #RetailChanges #CommunityGrowth #RealEstateOpportunities