Two sides to this ancient and reoccurring saga. One: investors. Two: shoppers. Investors expect a return on investment, aka money. Shoppers expect problem resolution and ego satisfaction aka a good deal.
Investors come first.
Looking across the last 10 years of department or apparel stores, we see most of them are gone or radically changed. All have given their investors their due.
Now it's Kohl's turn. Whomever buys KSS, shoppers will not get what it expects, however, investors will.
Love the swing of the pendulum. Subscriptions. Online push, a curated box of stuff -- less of a brilliant idea than an unguided missile. And with all things online, the cost of doing business was misunderstood.
The clock is ticking. BTS is weeks away. BTS sets up Holiday. How to decide what goes beneath the tree is already being decided, perhaps not an item, but the resource to solve the problem.
Clear out those goods in the way of putting their best foot forward with the rolling start of school across the country. TGT knew this three weeks ago.
While I was encouraged by Gennette's discussion of customer segment performance, his comments about the short-term future were classic garmento blah-blah-blah. And I find the bobbing and weaving between corporate and store Macy's numbers annoying.
Bloomies and Nordys performance suggests the high end is covered. And below $75,000 will remain covered by dollar stores and discounters. The middle needs a shopping experience that is relevant to the customer. Respecting her matters, as is pointed out by the unforgivable unkempt selling floors. Macy's fails here. KSS doesn't seem much better. And JCP is what again?
Returning to work will be a short-term lift. The COVID-19 delayed baby boom suggests life stage activation and a promise for greater spend. Dillard's disproves the "department store demise" -- it benefits from a tight geography? I'm still not convinced that Macy's has its finger on the nationwide shopper's pulse.
For starters, read the blog post. It is a place used for wondering aloud.
What if Starbucks could create a new, global digital community -- a community defined by collaboration, experiences, and shared ownership -- all centered around coffee to start, and then perhaps expanded into the many of the areas Starbucks has played in over the years as a coffeehouse; art, music, books and beyond?
"Third Place" reminded me of Taco Bell's "fourth meal." Both ways of reframing their role in a customer's life.
Don't make stuff up. There is plenty of hype. Seems to sell tickets to confabs. Show relevant experience that informs observations. Too many grand pronouncements with little humility. Everything must be connected to the consumer/shopper experience.
Feels like another "back to the future," as in, this was done before, differently -- but in-store video content is nothing new.
For it to be a consideration as an addition to the store environment, it must be relevant to the shopper both strategically and tactically. The metrics that will determine "relevance" will be key.
What's the role of tobacco category? Are the "Dollar" stores selling them? What about booze? Seems that category also over indexes with WMT shoppers. What drives the WMT decision, low sales or public health?
Filene's. And Filene's Basement. It was Selfridge who convinced Field to put a "Bargain Basement" below the street level on State. Outlet stores became the next generation. Nordstrom and Nordstrom Rack.
As the consumer situation shifted and the desire for a "treasure hunt" arose TJX became dominant. I think Macy's has to sort out the relationship between master brand Macy's and sub brand Macy's Backstage. Backstage adds to Macy's value proposition confusion just as calls for spinning off its "online" presence. This is no time to declare victory. The relevance of the master brand is further challenged.
Everything comes and goes
Marked by lovers and styles of clothes
Things that you held high
And told yourself were true
Lost or changing as the days come down to you.
Per Joni Mitchell, everything comes and goes. We are all old enough to remember 2013, the end of Target's foray north. But Target's woes extended beyond international expansion. And that can happen again. It probably will, in different situations with different leaders. It's retail. It's always changing. Few really get it right. That's why we love it.
it depends upon how one is using the event.
Is it an ad buy or more? Is it investor relations, consumer promotion, internal motivation, or hometown strategy? There are lots of ways to increase the ROI based upon how the investment is measured.
Walmart has ~10,500 stores globally and 4,743 in the US. Lab stores (incubator, pilot or whatever they are called) are great. Not sure if Springdale, fourth largest city in AR with a pop of 80K, is on my shopping list, but I'd love to see what WMT is thinking. Just as long as my store maintains its housekeeping standards, is in stock and folks on the floor recognize me as a valued customer.
Once upon a time, even Sears had a pet department, same with Meier's. Tractor Supply has a fully kitted animal washing stations. But as they say, it's all fun and games until someone ends up with a cone around their neck.
There is a crazy Venn diagram showing an overlap in pet ownership, home ownership and DIY behavior. But that doesn't mean customers give you permission to have dogs in the aisle while you are finding straight 2X4s or selecting paint or plumbing hardware. Maybe at Ace, but in a big box where Pros are eager to get to the job?
Next idea, please.