My job is to actually try to help retailers today see what happens next.
That’s how Jack Stratten, UK’s Insider Trends Director, kicked off Wednesday’s speech at the D-Congress.
The topic he was going to talk about was the role of the physical store in an increasingly digitized world. He did this by speaking at length about the big digital trend, while at the same time highlighting examples from chains that have come to understand this through physical trading.
One example I highlight is Korean eyewear company Gentle Monster and their way of working with physical commerce.
According to Jack Stratten, the spectacle chain contained nothing but shops decorated by various artists, who at the time of the decoration had complete artistic freedom. Something that means that all stores are very specially decorated and no one is the same.
An example of what one of their flagship stores looks like is below.
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Talk about it inside Gentle Monster’s flagship store in London, housed in an expensive address.
– I asked how many glasses they sold during the day, and the man who worked answered that they had sold only a pair, – said Jack Stratten on stage.
He went on to ask the shop assistant how it all fit into a shop at such an expensive address.
– and then only replied that the entire store is included in the marketing budget.
Jack Stratten also highlighted the Camp Games series as an example of a successful financial investment.
On the location of their store in Midtown Manhattan, New York, they have built what can be compared to an amusement park, where all children can try out different games. The destination has become so popular that it charges an entry fee.
– With all the digital trends, they understand they have to give customers a reason to come to the store, he said. The trading experience should be an experience that you pay for. Stores have to work hard, and a mental shift has to happen.
As closing words, he highlighted the essence of the physical store’s role in the future.
Stores are great places to build loyalty, stores are great places to build relationships and stores are great places to tell stories.
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