Showing posts with label business practices. Show all posts
Showing posts with label business practices. Show all posts

Friday, July 15, 2016

always thinking, always thankful



First let me begin today's post with a moment of silence and reflection for the tragedy in Nice, and for all those around the world who are suffering, unsafe, or are unwell. 

A few weeks ago, I was enjoying a quick lunch and getting some work done remotely at Chickfila, and overheard the owner/operator conducting a few interviews.  Miss Laurie was looking to hire a community relations type manager, and conducted each interview the same way.  She began by explaining the strengths, weaknesses, opportunities, and threats of the business, the direction she was hoping the position would take, and engaged in dialogue to really get to know the candidates as people, and not just professionals. 

It's one thing for an owner / operator / manager to define expectations for their employees and their business, but it's another for them to lead by example.  I can't tell you how many times I've been to this location and witnessed Miss Laurie walking around the dining room, talking to customers, refilling beverages, and cleaning tables, let alone working the cash register, taking orders, or busy in the kitchen.   When most quick service restaurateurs are hoping to turn customers in and out as quickly as possible, Miss Laurie fosters and encourages a community atmosphere, where customers are encouraged to take their time, relax, and enjoy their meal and the pleasure of their company.  From students doing homework, to older customers visiting with their friends over weekly coffee and biscuits, people are welcomed to the restaurant just as warmly as they would be in Miss Laurie's own home.  How many times have you been to a business, let alone a busy restaurant, and felt like there were no employees working, let alone a manager supervising? 

When you lead by example, you not only intensify your location's business plan, but you also show your employees and customers that you care.  You care that employees have the right tools, at the right time to accomplish their jobs.  You care that customers' needs are not only met, but expectations are exceeded.  You care that the experience for all is positive, professional, comfortable, and complete.

In any business, but especially luxury retail, your mind must always be moving.  Don't just limit your observation to businesses in your same demographic or neighborhood; push your growth by observing multiple types of businesses in your community.  Which businesses have a comfortable atmosphere for their clients?  Which businesses think creatively to market their brand, intensify their awareness, or redefine their image?  What can you do to make your store / business more marketable, more profitable, or more efficient?

Take a hike.  Literally walk out to the parking lot.  See what greets your clients.  Do you see trash, litter, and dead plants?  Are carts scattered throughout, making more of a hazardous obstacle course, rather than an easy place to leave the car?  Are signs lit, doors operating properly, and accessibility easy for all?  Walk in your facility. What's the first thing that you notice?  Are the lights all burning brightly? Is the floor shiny, free of dirt, debris, and dust?  Is the fragrance of your store pleasant?  Do signs make sense, encourage and entice a purchase, or spark a conversation between associates and customers?  Each week, I try to walk with my teammates, encouraging them to "think like our customers" and focus to the customer experience.  As operators, it's so easy to get lost in a sea of never-ending tasks, to-do lists, floor updates, and reports.  The more we walk and work on the floor, the better. 

To be on top of our game, we must constantly assess and observe.  Perform a SWOT analysis and encourage your managers, supervisors, and teammates to periodically conduct their own assessment.  Celebrate your strengths, identify your weaknesses and formulate a plan to turn them into strengths, highlight opportunities for growth and improvement, confront threats head-on with a concise plan of action.   Not only will this effort make your own brand more marketable, more profitable, and more efficient, but you'll also build a strong team and provide the opportunity to develop talent from within your own organization. 

Who do you look for inspiration?  What companies go above and beyond?  Who impresses you?

Wednesday, April 20, 2016

shout the benefits

Customers don't buy shovels because they need a shovel.  Customers buy shovels because they need a hole.  As sales associates, it's important to understand the features and functions of the products or services we're selling, but we must not forget the end result.  The end result isn't just to sell products; the end result is to achieve the goals of our valued customers.  If we focus to achieving their goals, competently and confidently recommending products and services to suite their needs, we'll have customers for life.

Each day, spend a moment and look at your business from the eyes of your clients.  What do you notice first?  Does your store's presentation and environment convey the message you're hoping for?  Does your store layout make sense?  Can customers easily find what they're looking for and navigate effortlessly?  Empower your junior managers, supervisors, and everyday associates to keep this perspective in mind.  When you focus to meeting the goals of your customers, you'll naturally meet the goals of your employees and business. 

Tuesday, April 19, 2016

more than just numbers

Is it just me, or does it seem like more and more companies are merging into conglomerates and mega-companies?  Over the last few years we've seen many airlines merging into super-lines, expanding their routes and minimizing their reach.  We've seen car companies gobbling up each other like a buffet, mixing the expected with the unexpected.  If you told me 15 years ago that Jeep, Fiat, Chrysler, and Maserati would all be owned by the same Group, I would have laughed in your face.  Canada's Hudson Bay Company boasts a myriad of retail brands throughout Canada, Belgium, Germany, and the United States, including Galeria Kaufhof, Gilt.com, Hudson's Bay, Home Outfitters, Lord & Taylor, Saks Fifth Avenue, and the Saks outlet version OFF 5th.   I'm all for increasing efficiency, implementing best practices, and improving the final product for customers.  However, sometimes these mergers aren't as seamless or positive as one would have hoped - often resulting in decreased customer service, layoffs, and lost brand identity. 



I read an article recently that said Nordstrom had reported an increased inventory of 12% in the last quarter, and this must mean their having a hard time selling their merchandise.  I understand that inventory levels can shed some insight into a brand's business strength and sales figures.  But as both a businessman and a customer, I know this only shows a portion of the picture.  Have they considered that Nordstrom is constantly evolving with their customers - often featuring new brands and designers, new product categories, and new services?  Offering newness takes both time to implement and time to test.  Every time I visit my local Nordstrom, there's a line at their coffee bar, the restaurant is packed, and there are plenty of customers - not just looking, but actually buying.  It makes me wonder, are those business analysts comparing traditional departments from year-to-year, or are they including the overall inventory? 

Buying a Fiat is a completely different experience than buying a Maserati.  Buying a wardrobe at gilt.com is a totally different experience than buying a wardrobe at Saks Fifth Avenue.  The end result may be basically be the same, but the approach, the expectation, and the experience couldn't be farther apart.  Regardless of what products and services are sold, when brands commit themselves to establishing the most incredible experience for their customers, prioritize product knowledge, and implementing a "can-do" attitude to help their customers identify and reach their own goals, every business wins.


 Retail = Relationships.  Relationships between employees and customers drive the business.  Relationships between business partners and shareholders shape the direction of the brand.  Relationships between the buyers and designers influence product availability.  Relationships between managers and employees effect the atmosphere and culture of each location.  And relationships between influential clients and their friends can impact general consumer sentiment toward the brand in general.  Better brands prioritize these relationships and spend massive amounts of time and resources both establishing and maintaining positive relationships.  And rightfully so.

Yes, companies should focus on the bottom line.  But they can't lose sight of the two most important aspects: their customers and their employees.  When you establish a corporate culture that includes clear expectations, constant support to not only perform those job expectations, but to succeed and surpass goals, and an environment that adds value to your employees' lives, this will only intensify and increase levels of customer satisfaction.  Happy Employees = Happy Customers. 

Across every culture and country, there is only one resource that is traded equally: time.  When you do something that saves time, there is added value to that task.  When you spend time with someone, there is more meaning, more passion, and more value to that moment.  When someone gives their time to your cause, you're more thankful, more loyal in the future, and more committed to their relationship and cause.  Time is everything.  And the same is for the retail industry.  When an employee takes time to walk you to a specific department, rather than just point or give you instructions, the customer feels more value and loyalty to the brand.  When a manager takes time to train an employee on a new task or improved function, the employee retains the knowledge, feels increased care from their superiors, and an increased priority for teamwork and education.  The feeling is contagious. 

When has an employee gone above and beyond for you?  How did it make you feel?  When have you spent extra time with a customer or client?  Was there a positive return on investment?

Tuesday, March 22, 2016

over the outlet

Retail confession: I have a love/hate relationship with outlets.  Who doesn't love a bargain, though?  And many times, a brand's outlet store is your "last chance" to buy that one piece from last season that you passed up and simply can't get out of your head.  Other than any price savings or last-ditch-effort to procure something you didn't buy and you've been kicking yourself for months over, the hate comes flooding down.  Outlets are typically staffed with associates who lack product knowledge and brand heritage, let alone any initiative to actually help you find something, keep the store tidy and organized, or prevent the place from mimicking more of a garage sale and less of an actual place of business.
https://factory.jcrew.com/help/mercantile.jsp
With that being said, I'm pleasantly surprised with J.Crew's Mercantile concept.  Imagine taking a typical J.Crew store, staffing it with the expected happy-go-lucky and uber trendy/preppy college crowd, merchandising the store beautifully with props from Martha's Vineyard to Montauk - but the surprising twist - all the merchandise is from the "factory outlet", cleverly disguised as the "Mercantile" - and the prices match, to boot! 
https://factory.jcrew.com/help/mercantile.jsp
CEO Mickey Drexler is absolutely brilliant.  The economy is slowly allowing a bit of extra spending money, but customers are a little wiser with their money and much more budget conscious, for all spending abilities.  Instead of hoping customers will trek to the outskirts of town on a wild goose chase for a bargain, why not bring a beautiful store to the customers' neighborhoods, construct it just like the full service / full price boutiques they know and love, but supply it with more inexpensive wears, while treating them like their higher-end siblings.
https://factory.jcrew.com/help/mercantile.jsp
I visited my first J.Crew Mercantile in Charlotte.  It was organized, well stocked, staffed with energetic associates eager to assist, and was beautifully merchandised.  I left inspired, excited, and with a few unexpected purchases. 

Wednesday, March 16, 2016

arm yourself with awareness

Over the last few weeks, I've been approached by three different retail situations.  I'd like to discuss them all.

First, I was with a friend a few weeks ago at a department store in Florida.  I wanted to show her my favorite coffee counter and pick up a few goodies.  While we were there, we decided to the home goods and furniture, as she was in the market for a new bed.  As luck would be in our favor, there was a collection of brand new mattresses and box springs that were drastically reduced due to a sourcing issue with the manufacturer.  So of course, we had to test out the beds and ultimately bought one.  In the process, the very kind and knowledgeable salesman shared with us a very interesting comment.  He said that business had usually been pretty slow in his department, and there are even employees who work in the store on other floors who didn't even know they sold furniture, let alone beds and mattresses.

Secondly, I was at a more luxurious department store also in Florida, but another city.  I absolutely love skincare and fragrances, so I'm always excited and interested to scope out these departments in various cities.  I like to see what's new, how the stores promote the brands and category, and see what best practices the salespeople implement.  While visiting one of my favorite brands, I recognized the associate.  I had known her through retail for at least a decade, so we had some established rapport.  I was genuinely shopping for myself, but also listening to her interaction with a customer.  After the customer left, she approached me and we began talking about the brand, new products, business, and the like.  She asked my opinion about a new product, and we began sharing tips and tricks of the beauty industry. She also felt comfortable enough to share with me that she was beyond hungry for product knowledge and training, but that her Account Executive was virtually nonexistent. 

Thirdly, while I was shopping at my favorite mall, I stopped in an Italian designer's boutique to take a look around.  I was quickly and warmly greeted by a sales associate, offered a beverage, and encouraged to look around.  So far so good, and impressive, to be honest.  After a few minutes, we started talking about business and insights.  The gentleman shared with me how business was a little tricky, especially since most of their target demographic "only comes to the big department store" and doesn't come out into the mall. 

All three of these problems can be solved with increased and refocused awareness.

In any sales position, it doesn't matter what product or service you're selling.  What does matter are the relationships that you establish and maintain, the manner you sell those products and services, and how you represent yourself and the company.  If you were building a house, you'd need to know what tools are in the toolbox before you begin construction.  This same principle works for retail - know what goods and services are on offer, know what decisions you can or cannot make, and understand  your job description.  

For the mattress example above, it would be so simple to build into your team's schedule a daily, weekly, or even biweekly "walk about" throughout your store.  Encourage your associates to walk around other departments, see what products are new or on special feature, and remind themselves what it's like to view the store as a client.  Then, when you overhear a client talking about a specific need or product they may be seeking, employees can quickly and accurately provide suggestions or guidance. One-stop-shopping and maximized sales at it's finest.

For the beauty counter example, I partly blame the Account Executive.  All too often, companies are so focused on maximizing profitability and minimizing expenses that they disconnect the human aspect of business and distance themselves from success. If this employee's AE had visited in person even one time, it would have been obvious that they were in need of additional training and resources and had the aptitude to take the information and run towards success.  Merely analyzing numbers virtually only tells a part of the retail reality.  Furthermore, employees can always take the initiative on their own time and think creatively.  With some much information easily accessible online, just an hour or two per week at the company's website would offer so much product knowledge, company history and heritage, and insight into inspiration and creative development. 

For the luxury Italian brand, there are always ways to increase traffic to your store.  A hypothetical scenario: if I worked in a Goyard boutique on Mount Street, and there was also a small Goyard section inside Harrod's on Brompton Street, I would go out of my way to make a relationship with the people in Harrod's.  As an employee of the brand in the boutique, you always want people to go to the boutique first. So to be more attractive, I'd introduce myself to the employees at the counter and the management of the store.  Chances are, the boutique employees get more training, more insight, and more attention than employees of leased spaces inside department stores.  When you approach the relationship with honesty and a team spirit, the customer gets more support and the brand sees even more success.  If the department store's buyers bought a shirt in two colors, but the client mentions they want it in an alternate color, how will the department store employees know whether or not the shirt was available in other colors?  If they had a relationship with the actual boutique, this information may be easily shared.  Or, if the department store employee had a relationship with their store's managers or buyers, they could easily see if the requested product was available to their inventory.  Also, if I was working at the smaller boutique, I'd go out of my way to introduce myself to all the concierges at the luxury hotels, local magazine editors, and other luxury industry insiders.  The more networking and brand awareness, the better.  And in luxury, a personal connection is exactly the invitation needed to realize even more opportunity and success.

Long story short: arm yourself with awareness.  Shopping should be simple: customers should find the right products in the right places at the right times with the right signs and at the right prices.  Plain and simple.  Right?


Tuesday, January 26, 2016

don't worry if you tumble

In business and in life, you have to take a certain amount of calculated risks.  With proper planning, forecasting, and a certain amount of safeguarding, you're able to take a leap of faith, try something new, and hopefully lead your business (or life) to increased marketability, profitability, and efficiency.  Those three buzz words are my litmus test.  If a project or idea doesn't serve those three characteristics, we don't do it.  Plain and simple. 

New ideas don't always work out or achieve the results expected.  With constant facilitation, reviewing what went well, opportunities for improvement, and lessons learned, you still gain value in experience.  If things don't work out in the end, it's not the end.  Recalculate.  Reassess.  Redirect.  Retry. 

Don't worry if you tumble.  You won't shatter or break.

www.tervis.com


And speaking of tumbling and not shattering, I am absolutely in love with Tervis Tumblers.

Maybe I have a special affinity for this brand because I, too, am from Florida and grew up with these cups.

For those who aren't acquainted:

Let’s take a little trip back in time. It’s 1946. Detroit. Engineers Frank Cotter and G. Howlett Davis hit on something big: they harness the natural insulating powers of air to create a permanently sealed, double-walled tumbler. Finally, a way to keep hot drinks hot and cold drinks cold. This outstanding innovation changed the drinkware industry forever. 

Combining the last three letters of each of their last names, Cotter and Davis dubbed their new brand “Tervis.” In the years to follow, they worked hard to refine and improve their designs. The original tall, cylindrical tumbler evolved into additional sizes and products. Today, Tervis offers 10 tumbler sizes, plus hundreds of customizable designs, emblems and accessory combinations.

John C. Winslow purchased the Tervis product rights in the 1940s. The Tervis Tumbler Company was then incorporated in 1967. To this day, all Tervis drinkware is proudly made in America. More than 900 people are employed through this family-owned-and-operated business, headquartered in North Venice, Fla.
Why do I love Tervis?  In short, they're made in America, have a lifetime guarantee, won't chip, crack, or cloud, are BPA free, keep hot drinks hot and cold drinks cold, and are dishwasher safe.  What's not to love?!

Friday, October 16, 2015

a warm welcome


www.dior.com

First impressions are everything: they set the tone, establish a framework of what to expect for your clients or guests, and introduce what's to come.  You only get one chance to greet someone; there are no do-overs.  You must be spot-on every time.

When you're working in a small boutique or office, the most logical time for greeting is upon immediate entry to the space - whether a quick hello, a smile or wave, you physically acknowledge your clients' presence.  As the employee, remove all barriers.  Walk to meet your clients on the same plane, introduce yourself, and welcome them to your business.  It's at that time that "discovery" begins - learning what brings the client in, what goods and services you can suggest, and execute those plans.

In a larger store or office, sometimes there are layers - multiple floors, departments and private areas.  If you're assigned a particular zone, welcome your clients when they enter your space, just as you would as if the space was it's only building.  Speaking of space within spaces - it's important to always treat your zone like it's in a building of its own - how does your space look to the outside?  Do your fixtures and displays tell a "story" from all sides?  Is your cash wrap / desk space organized and free from clutter from all angles?  Ensuring your area maximizes space and impression will ensure strong profits and successes.

Never assume your clients have been greeted.  Maybe they slipped in unnoticed.  Or they were engaged in conversation and the other associates / greeter / security guard didn't want to interrupt.  Regardless, start from the beginning.  And remember, body language is everything.  Tall posture, not slouching or leaning.  Never fold your arms.  If your body is physically open, you'll be professionally ready to receive your clients.  You want to be as approachable and available as possible.

Especially in a luxury setting, keep the "clutter" to a minimum.  Other than the store telephone, your client book, and maybe an iPad or store issued device, there shouldn't be much else on the salesfloor but your products and props.  This allows your "look" to be in harmony with the vision of the brand, and allow you to be even more ready to serve the client.  If you've "set up shop" on top of a display case, you're not only blocking the view, but you're sending the message to your clients that you're not available to offer assistance.  In luxury, and any segment for that matter, you must be ready for your customers as much as possible.  Ready to serve.  Ready to please.

Think about external factors that assist in welcoming warmly.  Lit candles or room fragrances, music, lighting, even wall colors or treatments and textured flooring all add to the ambiance.  Attention to detail will not be lost on your discerning clientele.

www.dior.com


A warm welcome is genuine.  A warm welcome is your physical body language, the words that you speak, and the added attention from the space you're working in.  Make it happen and all will be well. 

Monday, October 12, 2015

no one cares what you're selling

Do you value shock?  A single event that stops you in your tracks, paralyzing your ability to comprehend, to breathe, to process.  Nothing else matters.

I think it's safe to understand that no business values shock, save electricians and power providers.  However, some businesses' response to shock seems to promote the ensuing behavior.  This can be easily avoided with consistent training, coaching-in-the-moment, and not only establishing expectations, but holding those expectations accountable.

For example, Starbucks has a very simple policy: if the customer doesn't like their beverage, with no questions asked, the Barista will remake the drink or offer a refund.  Plain and simple.  I can't tell you how many times I've witnessed customers react so angrily, so hastily.  Over coffee!  We're not talking about an event so detrimental to your health, let alone your existence, to merit such a heinous response.  Regardless, customers still go overboard, reacting unnecessarily.  What's so incredible is that Starbucks trains their employees on how to react; relationships are a priority.

Just yesterday, I witnessed a customer berating the Barista because she received the "wrong sandwich".  Now you must understand, I heard the Barista myself seek clarity and repeat the customer's order.  Which is exactly what she received, but not what she was hoping for.  After spewing anger and hate, demanding to speak to the manager (which the Barista involved was actually the shift manager to start with), the Barista apologized, remade the not-requested-but-hoped-for panino, and even thanked the customer for their business.  I was so impressed with her ability to hold control of the situation and demonstrate kindness, in addition to the very ethos of the brand, when the customer displayed the exact opposite.

This type of professional behavior can be replicated in any business.  Treat everyone like a "guest", and you won't get lost.


G: Greet.  You must greet your customers. A quick "hello" or "welcome to ____" sets the tone. Make sure your tone is sprite and springlike, as a disingenuous welcome instantly detracts from the business.  If the client is on the telephone or in conversation, a simple smile and wave will announce your attention and signal you're availabilty.

U: Understand.  Why are your clients there? Are they taking a stroll through your boutique, gathering ideas and enjoying the day?  Are they comparison shopping, looking to gather education and data?  Maybe they'll just "know it when they see it".  Whatever their intentions - as the salesperson, it's your job to find out what exactly the client is hoping to accomplish, and make that happen.  And then some.

E: Explain.  What can you do for them? Once you've identified what exactly they're hoping to accomplish, explain what you can do for them, both immediately and longterm.  This can be as simple as helping the client find the perfect dress to wear to for a special occasion, or as complex as executing customer business enterprise solutions.

S: Suggest and sell.  You've identified the clients' needs and explained what you can do for them.  Now it's time to hit the ball out of the park and set the wheels in motion. Suggest solutions to meet their needs and ask for the sale.  All too often, employees will identify the needs of the customer, present a solution, but never ask for the close.  To me, that's like creating a menu, shopping for the groceries, spending all day preparing a beautiful meal, but then never serving the dishes.  You must ask for the sale!



I understand you're looking for a new vehicle.  You want something classy, with great power, loaded with every amenity and safety feature available, that will last you the better part of a decade and grow with both you and your lifestyle to come.  I suggest the 2016 Mercedes-Benz AMG GLE Coupe.  Shall we place the order for your new car?

I recognize selling a car usually brings a much lengthier process and requires infinite more resources, but you get the gist. Ask for the sale.

 T: Thank.  What was the original goal of the customer? To purchase goods or services?  To gain education and insight? To try something new?  Whatever the reason, thank your customer. Invite them to return.  Tell them you want to stay in touch, ask for their contact information, and do something with it. Within a week, send a quick thank you note. It must be hand written. Short, sweet, and to the point.

Hello Mrs. Thompson,
I hope this message finds you well.  I want to thank you for stopping in to the boutique today. I know you're going to love your new Lady Dior bag. Remember, the bag is made of luxurious lambskin, so be sure to keep it away from your dark denims.  I hope to see you soon!   à bientôt, Joseph
                                                                                                                                                                              Within two weeks of sending the note, follow up with a phone call.  Your reason for calling: securing future business.  Your approach,  making sure you had the right address on file, that they received the note, and that they're loving their purchase.  This will massively decrease product returns and ensure happiness with the customer. It also allows for even more understanding about your client.  In the example above, where did Mrs. Thompson first take her new Lady Dior bag? Was she celebrating a special occasion (that you should be notating in her client file for future acknowledgement), or was it "just because..."  Learning why clients buy, understanding their motivation and spending abilities, will help you with future business engagements.

You've now officially started clienteleing - or leveraging your professional relationships to drive the business.  With consistency and practice, you'll grow your network of customers and clients beyond measure.  And once you're at the next level, it will never matter again what good or service you're selling - you'll always have a strong customer base loyal to you.

Treating your clients like GUESTs every time is only enhanced by your attitude.  Find your voice.  In the car example above, if I worked for the very storied Mercedes-Benz, I'd learn about German culture.  Maybe offer clients' children a small bag of  Haribo gummy bears or sign every thank you note with a simple and easily translated danke.  The simple gestures can exceed your clients' expectations, setting you above and beyond the competition, and ultimately benefit the sales probability and outcome.

A friend asked if this method is applicable to more than just traditional retail situations.  The answer: absolutely.

Imagine for a moment that you're an insurance salesman.  Of course, you'll follow an established sales tactic: become well versed in your products and services, identify potential clients, pitch your solutions, ask for the sale, and close the transaction.  But it doesn't stop there.  Clients want to know that you're going to grow with them, not just sell them one product and move along.  Regardless of what you're selling, you must include the promise of future growth and commitment between you (or your company) and the client.  If you're selling software, will you offer regular check-ins to train new employees?  Will you reassess the clients' business needs on a consistent schedule, ensuring the right solutions for the right needs?  Do you offer a discount or incentive to purchase additional products/services/solutions in the future?

It's not always what product or service you're selling, but the access to your expertise and assistance in the future. In the world of computers and telecommunications, Apple not only sells wonderful products, they also push solutions and prioritizes the customer relationship.  Senior Vice President of Retail Angela Ahrendts doesn't just bring the style and class of Burberry to the table, but a commitment to building trust and longevity with their very valuable customers.

Sometimes, unconventional leaders are the way to drive the business to unexpected heights.  Many might have questioned why the fruitful technology giant would have lured a luxury fashion executive, but for those who know Ms. Ahrendts' critical thinking abilities, quest for excellence in customer experience, and remarkable methods to not only capture clients' attention but their loyalty and lifelong business, it was no surprise.  Subsequently, her realigning of the eCommerce department with the traditional brick-and-mortar retail department has already increased profits, minimized expenditures, and maximized customers' opinions.

In short, treat your customers like you want to be treated.  Maximize each opportunity to strengthen the relationship, further your brand's awareness, and be honest.  After all, the answer is no...until you ask.

Friday, June 8, 2012

Shop-in-a-Shop

The corporate practice of having a dedicated space to someone else's products in a much larger store is far from a new business concept. Department stores such as Macy's, Harrod's, and David Jones have leased space within their stores to other designers. This partnership allows for greater distribution and access to goods, and significantly eases the strain on shopkeepers.

What is new regarding this concept is the trickle down effect. I was recently in Target and saw several shops within the shop.

Once a brand or business understand their market demographic, they may approach other brands to incorporate a shop-within-a-shop. This is especially beneficial to smaller, more boutique-like companies, as the partnership often expands their brand's reach exponentially. Even if the shop is only temporary, everyone seems to win.

What're your thoughts on this shopping trend?