Retail is not dead, boring retail is dead
As we all know, the retail industry has been through a period of immense flux. However, after a difficult few years it feels like it’s emerging from the dark and a new retail landscape is bringing innovative business models, retail formats and sophisticated technology to the fore. As famously said by Nike’s Vice President of Global Stores, Cathy Sparks “retail isn’t dead, boring retail is dead”.
However, with this new era of retail comes new considerations. Consumer lifestyles are vastly different today — more people live in cities, less own a property and even less own a car — and stores have had to adapt to suit this. On top of that, ‘experience’, once a simple noun, has now become integral to a brand’s retail strategy and the word ‘shop’ seems strikingly old-fashioned as stores strive to be more than just a shopping destination. However, creating a space that delivers on experience in a meaningful way, whilst avoiding tech gimmicks and ensuring every ounce of premium square footage enhances the overall retail experience and customer journey is, unsurprisingly, tricky.