Saving & Making Money from New Store Concepts & Re-fits!

Tim Radley, speaking at the Retail Shopfitting & Display Summit 2018

Part 1: Setting the scene for performance.

We may all be forgiven for believing that physical stores are dead-in-the-water of the tidal wave of retail revolution carrying all convention before it on a journey to outlet oblivion.
However it’s very much a matter of saving theatrics for new store concepts rather than dramatic and premature obituaries.

 

retail-shopfitting-display-making-money-presentation

But, before we get down literally to the nuts and bolts of store design and shopfitting it is worth confirming that there will be less stores for sure, with simple mathematics of 20% online sales for sure making a sizeable hole in the soles of retail footprints. Yet for those glorious stores remaining as brand flagships and experiential extravaganzas there is the real possibility of having more fun with the physical theatre of shopping than we have had for a long time.

So how do we build and manage this new wave of retail stores. Of course not with a carefree indulgence but with a pragmatic focus and precise understanding of what investments will drive customers through the doors and sales performance through the tills.

As always…best practice stores will save money on the meaningless whilst investing in the essential.

Stores must be viewed as 2 parts – the “brand box” and the “dynamic content”

The “brand box” is made of permanent features such as lighting, flooring, physical materials, fittings and fixtures. Traditionally expensive, intransigent and decidedly unforgiving of the uninformed excesses of store designers, the “brand box” offers a chance to create wonder whilst saving time and money through efficient processes and pragmatic decisions.

The “dynamic content” always the shining star on the stage of retail adventures relies on product display, visual merchandising excitement combined with the extra-sensory perceptions of smell, touch and sound. And far from continuing to be the shrinking violet of recent years, emotional content must take momentum from the omnichannel dynamic converting static electricity into a never ending show of lights, actions and the sound of ringing tills.

The bold statements to take into the development of the “brand-box” are to have a cast-iron understanding of the brand position, an unshakable grip on cross-channel developments and a fearsome command of processes

Be brand focused

Be channel integrated

Be process organised

 

The creative narrative to see you through the ebbs and flows of dynamic content development include a frugal discipline towards excessive adornments, a firm handle on the creative flow of ideas and an incisive vision of the trajectory to reach your end goal

Simple mechanics

Simple processes

Smart thinking

And so to next time… when we explore in appropriate depth and with precise accuracy the many ways to save time, effort & money in the development of your “brand box!”

Coming soon…
Part 2: The “Brand Box” – Consistent Planning & Pragmatic Decisions

 

Are you at a loss on how to develop your new store concept against a back-drop of closing stores and falling sales?

Are you trying to work-out what are the key elements and essential investments for your store re-fit programme? 

VM-Unleashed has developed “omnichannel unveiled” as a benchmarking process to answer the many questions and dilemmas for retailers wrestling with investment issues in physical stores and across channels.

If you’re interested in the future, nay the present, of your physical stores and omnichannel retail business…why not take a look

http://www.vm-unleashed.com/specialties/omnichannel-unveiled/

 

more-information-chat-photo-footer

 

 

Tim

I'm Tim Radley and I started VM-unleashed! in 2007, and as the one who makes most of the decisions, and does most of the work, then I guess that makes me the Managing Director. I've now been doing this sort of thing for over 20 years now, so hopefully i know my way around the retail block ...but hey, what do I know?

Leave a Reply

Your email address will not be published. Required fields are marked *