There is an ongoing battle between specialists and generalists in this country. Half of the population seems to be obsessed with specializing in a very specific area of their industry, while others make a point of learning the basic skills in as many different areas of their industry or even other industries as possible.
Only a handful of brands with a large cash reserve will be able to keep their stores. All the others should close now and get ready for the next evolution.
A mission statement is “a sentence describing a company's function, markets and competitive advantages; a short written statement of your business goals and philosophies.” And while having a mission statement will not guarantee commercial success, it will vastly improve your chances.
There are a few steps you'll need to take to help strengthen your store's position in the marketplace and improve your chances of having a successful reopening when it is safe to do so.
In this crazy post-coronavirus world, reopening your store isn’t as simple as flipping your open sign.
Through the use of facial recognition technology, retail stores may be able to proactively help limit unsatisfactory customer service experiences.
Today, we have to be able to communicate a message in a split second. When you scroll through Instagram or Facebook, you operate through your immediate visual reactions to whatever you see.
In 2015, we worked with the Dean Lederman, founder and COO of the jewelry design brand James Allen in New York to create a private showroom for their customers. Dean wanted a small but sophisticated space that would improve brand-perception both online, and in the retail world.
Earlier this year, we worked with Danyal Sayed and his brothers, a team of entrepreneurial butchers with a passion for ethical, quality meat. Danyal’s dream was to open a store in Williamsburg that sold organic, halal products sourced locally from his own farm.
Predicting trends, changing markets or spending power is risky, but if brands want to remain relevant, there is no other option on the table.
Stores are closing but they’re still needed. With retail’s shift towards experience and online sales comes retail’s new responsibility to improve customer service, knowledge, and product curation. There are still mysteries facing our industry, but I’d like to share with you what I’ve learned.
Your office space isn’t just a place for your team to get work done, it’s the bedrock of your company culture. When done right, the design should convey your vision for the company without you having to actually explain it.
When something as important (yet as simple) as color is left to chance, it is a missed opportunity to influence the way people understand your brand for years to come.
If businesses can provide experiences that give the customer a sense of cultural pride and achievement, customers will not only feel better about themselves, but about the brand that gives them this sense as well.
If direct-to-consumer startups stick to the old retail playbook and don’t innovate, the physical store will be the place their thriving brands go to die.
The digital space is there for convenience. The physical space is there for the experience.
