The Best of Insider Trends September 2016
Farewell September and farewell Fashion week Autumn season! The retail world has had a huge focus on being on trend this month and we’ve seen interesting business models emerging as a result. A perfect example comes in the form of Topshop’s “see now, buy now” model which provides inclusion and immediacy, sparking other major brands to follow suit. Take a look at both our New York openings and London retail offerings for more new stores opened during the renowned fashion weeks.
This month our retail horizons were broadened by even more experts and all from within rather different sectors. Hedonism Wines’ CEO Tatiana Fokina explained the importance of expertise, the very best customer experience and just how Hedonism have reinvented a niche. Even when the going gets tough for these niche shops sometimes it can be down to how the company reacts. Rough Trade survived and actually thrived when the music industry seemed to disappear and we spoke to Director Stephen Godfroy on why bricks and mortar is at the heart of the business. Travel Retail Cooperation’s Managing Director Hannes Koch revealed how travel retail isn’t giving customers what they’re looking for and just how he plans on bringing innovation back to the sector. Hint: it’s mainly by thinking local.
Just what is a flagship store? We looked at five brands such as Burberry and Lush to unearth exactly what makes a good flagship and understand the ideal business model. What would you remove from your own shopping experience if you could? We discovered how to design out the bad and focus on the good with and in-depth plan of factors to take into consideration. And while looking at positive case studies we also took on board the things you may NOT be doing as of yet. Ispos Retail Peformance kindly wrote our guest post this month, exploring the six important factors that your business must be actioning.
The true test of innovation though is how you can apply it in real life. What benefits can it offer to your business? How can it help you better serve the customer? Can it help you sell smarter? We explored five retailers using innovation to sell more and lower operating costs at the same time. Beacons could be a part of this so don’t forget to read our tips on how to get started with these new coupons, banners and balloons for your brick-and-mortar business and four ways to start innovating your retail business today!