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On Friday, The Wall Street Journal reported that online retail giant Amazon is looking to open large bricks-and-mortar stores in the US to sell clothing, homewares, electronics and other products, much like a departmentstore. And it would come at a time when some long-running departmentstores are closing up shop.
Why would the owners of Selfridges, generally considered to be the world’s best departmentstore, decide to sell the business? To a far greater extent than most other departmentstores, Selfridges has embraced an experiential retail strategy that many industry leaders see as key to the sector’s survival. billion (AU$3.72
Businesses that offer customers both physical and online store options tend to see higher customer engagement and sales. per cent (RM95 billion in total retail sales), and all retail sub-sectors such as fashion, departmentstores and grocery are expected to rebound. You can download it here.
A year after the French luxury departmentstore originally announced it would be launching its first US location, Printemps is officially opening a brick-and-mortar store in the heart of New York Citys financial district on March 21. Departmentstores havent had the best reputation the last few years.
With the opening of Ecoya Martin Place, Ecoya now has two DTC retail stores that complement its extensive network of retail partners, including boutiques and florists to big departmentstores like Myer, David Jones and Ballantynes.
A-COLD-WALL* has announced the launch of a second Seoul conceptstore-in-store this month. Following the opening of a bold and distinctly industrial space inside the world-renowned Hyundai COEX, the brand unveils yet another site in the Korean capital, this time located in the famed Lotte DepartmentStore, Jamsil.
Litmus Retail Group has partnered with Myer on a physical showroom concept that will enable the departmentstore to display big and bulky products, such as treadmills, e-scooters and stand-up desks, and track how consumers are engaging with them to inform future buying decisions.
Most recently, on September 10, Finnish lifestyle brand Marimekko opened ‘ Marimekko ConceptStore’ on the mall’s ground floor. Is Marimekko ConceptStore really a conceptstore? It has been open for more than two years and is a clearly distinct retail concept leveraging the Marimekko brand.
Spanning eight floors and 71,500 sqft, Johnnie Walker Princes Street is located inside a building, which was formally a traditional departmentstore for almost 100 years. The rooftop bar and dining experience.
Brands can take advantage of this trend by developing their own games or integrating gamification elements into their retail storeconcepts. Gamification offers numerous opportunities to increase the experience in storeconcepts and to address younger target groups in particular. Credits: Louis Vuitton. Credits: Burberry.
Where things get a little more complicated is through the introduction of in-store technology that changes (and hopefully enhances) the in-store experience, to become truly frictionless. For example, while the Amazon Go (just walk out) concept may have passed its useful life, that doesnt mean the concept of frictionless retail is dead.
Retail environments were already evolving to become more engaging spaces when Covid-19 hit, but the pandemic has underlined just how important the social experience is to us. But for retail stores and shopping centres re-imagining the spaces they provide, just as important is the need to get construction projects right the first time.
Retailers who incorporate interactive elements can encourage passersby to engage with the scene, which enhances the overall experience and makes it memorable. Retailers are no longer using static displays; now they use cutting-edge technology like augmented reality and interactive elements to engage passersby.
Inside Retail : How did you come up with the concept for your brand? Listening to her, giving her my undivided attention and genuinely engaging with her. It has also been such a privilege to engage with Nobel Prize winners about our formulations and innovations, who have been genuinely impressed with our scientific rigour and ethics.
Set to launch in July 2023 – after the opening of the new luxury precinct at terminal one (T1) – Heinemann is pioneering the departmentstoreconcept inside domestic terminal two (T2) and three (T3), with the retail mix curated to reflect each terminal’s passenger base. Proof of concept. Extremely resilient.
Amid an evolving retail landscape, Bullring & Grand Central has continued to attract household names as well as young, cool digitally native brands, while repurposing legacy space with innovative new concepts including entertainment.
My business partner, Peter Winkle, and I were just trying to work out if there was actually a market for our concept. All of a sudden you could get chinos for $80 as opposed to $150, the staff were engaged, and it was really extraordinary. The first 18 months were a bit of a blur, and it was all very exciting at that point.
As high-end retailers seek to capture and hold onto the 1 per cent shopper’s attention, Saks Fifth Avenue is ramping up its personalised shopping concept, Fifth Avenue Club. In the same release, the high-end departmentstore announced plans to end the year with 20 new standalone shops across Texas, Florida, and California.
Between that novel concept and the turbocharge that Covid-19 gave to e-commerce, the start-up has swiftly become a mid-sized force. We envisioned a label in which shoppers could ‘see’ what they were buying properly, rather than touring packets of folded linen in departmentstores.
Just from witnessing the return of physical stores and the response from our customers, it’s become more obvious that they love to shop in person – seeing, touching and having a genuinely engaging experience with the store,” Staton said. Which retailers are doing store design well. We need the two to coexist.”.
Renovation: DepartmentStore. Scope of work : Continue the location’s evolution from traditional departmentstore to a targeted destination for luxury goods and services. What sets this project apart : In terms of store planning, the new design of the Santa Fe departmentstore seeks to engage with shoppers at every turn.
Pop-up retail has emerged as a dynamic and innovative approach to marketing and brand engagement in recent years. This unique concept involves the creation of temporary, highly experiential marketing environments that serve a multitude of objectives for brands. Expert Manager at Univers Retail | Published author | Visiting lecturer.
Just this week, American departmentstore chain Nordstrom announced a unique collaboration with the British fashion brand Paul Smith. The founder of the eponymous brand highlighted another similarity between his business and the departmentstore chain. “I The brand can also gain experience with retail operations.
New luxury shoppers – young Millennials, Gen Z and Gen Alpha, who will represent more than three quarters of luxury sales by the end of the decade – engage in conscious consumerism. They expect the brands they engage with to express their values of environmental sustainability and social responsibility.
The storytelling aspect of the shoots is important to us – the concept has a larger focus than just the clothes – it is an adventure and look into an aspirational world we want to immerse our audiences in,” said Coote.
Selfridges, the iconic British departmentstore, is ushering in a new era of sustainable retail with its ambitious plan to ensure 45% of transactions come from circular products and services by 2030. The pop-up in Selfridges’ ConceptStore showcases the brand’s vision for the future of fashion and commitment to circularity.
Spearheading this move are two flagship stores nestled in prime locations: one at the prestigious Shin Kong Mitsukoshi departmentstore in Taipei’s vibrant Xinyi Xintiandi district, and the other at the iconic Dubai Mall. Its location in Taipei was designed after careful consideration of Shin Kong Mitsukoshi A8 shoppers.
Luxury departmentstore Harvey Nichols recently announced the opening of the first blue-chip non-fungible token (NFT) retail space at its Pacific Place Hong Kong store. The innovative concept named ‘HN NFT Vault’, invites customers to browse and purchase digital art NFTs from a curated selection of globally recognised projects.
Customer expectations of engagement and experience in retail are changing equally quickly. Not that long ago, walking into a carefully organised grocery market, hearing a pianist perform in the centre of a high-end departmentstore, or having a retail associate help guide you represented a good retail customer experience.
On the other hand, Blow Bar Co also celebrates the magical moments with our clients, such as weddings, engagements and birthdays. IR: Tell me about what makes the Blow Bar concept so unique and why it suits today’s consumer. What has that experience been like for the business?
The Evolution of Retail Formats The history of retail formats can be traced back to the late 1800s when single-product stores dominated the townscape. However, the emergence of departmentstores revolutionized the retail landscape by offering diverse products and brands under one roof.
Within the space, an interior designer specialising in travel retail design will design layouts, map customer touchpoints, assess finishes and always create focal points to make sure each duty free store has unique features. The iconic Lamp Bear sculpture, situated amid luxury boutiques, offers a striking focal point that engages travellers.
The essence of personalisation Picture a scenario, you’re in a departmentstore. A father and daughter venture into the teen’s section, greeted by a sales associate whose approach is as personalised as it gets, engaging them in their common slang and steering them towards attire fitting the daughter’s age.
There are many successful female retail entrepreneurs with innovative concepts but the chains and major retailers have been slow to recognise the value and importance of promoting women to leadership positions. Wirth joined the Myer board in October last year after 15 years at Qantas, including six years as CEO of Qantas Loyalty.
This technology has the potential to revolutionise online shopping, making it feel as engaging as visiting a physical store. Imagine putting on a VR headset and walking through a departmentstore, interacting with products and making purchases all from the comfort of your home.
Unspun’s on-demand concept also allows for customisation and puts the manufacturing process much closer to home through localised production. “We “Retail will be part of entertainment, or experience, where people look for reasons to come and engage,” he explained.
We want to reaffirm our engagement as a brand, build the lifestyle potential of the brand with new business lines, and grow new businesses that we truly believe in, including second-hand lines,” he noted. After strong development in Asia, we decided to open our first new conceptstore in 2024 in Hong Kong.
K EEPING THE organizational pipeline flowing with creative, high-potential talent is a challenge every company faces, yet countless studies have shown that identifying and engaging young professionals early in their careers is critical to future success. How do you see the role of physical stores changing in the future?
Upbeat prospects “Simpli Namdhari’s is not just a premium retail store but an experience we have carefully curated based on customers’ expectations. They have resonated with our concept of grocery and in-house café to provide an overall seed-to-plate experience,” Roopra stated.
The team took the time to engage our local clients on a deeper level and truly cater to their unique needs,” Chan noted. Dior has also revitalised its duplexes to introduce unique concepts to shoppers. But as far as she is concerned, physical stores remain vital to the luxury industry for personalised high-touch service experiences.
This approach, built upon over 15 years of research, merges traditional and digital shopping experiences to continually attract and engage visitors. The management team ensures tenant compatibility with each mall’s identity through rigorous curation, blending both global and local brands to cater to their clientele’s varied needs.
The pandemic has severely limited consumer mobility, forcing big-name clothing retailers and departmentstore chains to file for bankruptcy. Having dependable partners allows retailers to focus on engaging customers. On the one hand, it has been brutal for some segments. Efficiency Can Mean Survival.
M ARKET BY MACY’S, a concept created by Macy’s (New York), is a more curated and exploratory version of the storied company’s typical effort. The store also features a concierge service and café.). Dynamic environmental graphics engage shoppers and complement the local neighborhood,” says Novak.
The poll revealed that when it comes to customer experience, physical stores were always preferred over their online competitors – apart from Amazon, who scored 28%. Near the bottom of the table for in-store experience were departmentstores with an average score of just 7% and fashion retailers with an average score of just 3%.
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