Reading about the coolest bookstores in the world, I was reminded of my 2015 visit to Librairie Avant-Garde in Nanjing, China. It’s a wonderfully repurposed underground parking lot with the lane stripes to prove it. Edit: also see Thibaud Poirier’s wonderful series on libraries. *
“We want to be the best store in the world, the best shop in the world. Now what does that mean? That means a lot of things to a lot of people. When we benchmark other companies, we don’t really look at any retail or fashion companies. We look at food, and we look at hospitality. So hotels and food. Because those are the people that are closest to the customer. And it is super intimate. That’s what we want. We want that kind of relationship with our customer, so they feel completely taken care of.” –Sid Mashburn *
Tagged: Comparison, Customer, Quotes, Retail
Walmart does it, one of my clients claimed this week as justification. And yes, Walmart goes even further than my client suggested. They ask for discounts based on global currency fluctuations and otherwise squeeze their suppliers in just about every way imaginable. I know a vendor who received emails from her Walmart buyer asking to be called immediately…the buyer didn’t want to initiate the calls and incur the long-distance phone charges. It is difficult to do business with Walmart. It can be costly. There is a high price of admission. Why would anyone deal with it? Because they are getting distribution to thousands of retail outlets, access to millions of potential customers and a potential slice of billions in revenue per year. But…are you Walmart? *
Tagged: Brand Management, Decisions, Retail
Hit the food court. Curse the fitting room mirrors. Take a test drive. The mall checklist seems to be changing (a little). Amidst a dramatically rising stock price and a growing electric car market, Tesla Bellevue is a nice retail scene. According to the on-site sales team, they average two to six test drives a day depending on their staff levels. It’s just a few doors down from the Apple store, and test drives are available in the parking garage. *
An old shoe polish brand is on the rise. Shinola, defunct since the 1960s, has been revitalized as an American-made watch, bicycle, and lifestyle goods brand with assembly in downtown Detroit. Using the Detroit connection, an emphasis on craftsmanship and guidance from Tom Kartsotis (the founder of Fossil), Shinola has expanded distribution into a variety of high-end retailers and a storefront in New York. A visit to the retail store in Midtown Detroit shows Shinola has even brought back the shoe polish: *
Tagged: Brand Management, Detroit, Feature Article, Retail, Shinola