Word: stores
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...things I've seen over the last couple of years is the rising popularity of the vintage clothing store. This relates to the changing concept of secondary markets - whether its EBay, whether it's goodwill industries, whether it's selling a previously owned Mercedes Benz - the perception is changing. There's a willingness buy used, rather than necessarily buy new. You'll never sell used underwear or used socks. But the number of things that people are considering buying used, or buying previously owned, is considerable...
What are some implications of all this for retailers? I believe we have reached the apogee of the big box. Growing the store any bigger does not translate into the customer spending any more time or money. It is actually starting to be counterproductive. Walking into Home Depot and seeing 28 coffeemakers, ranging in price from $16.99 to $116.99, is an overwhelming sense of choice. So that the merchant is going to have to edit...
...some retailer put it to me the other day, 'we acquire these 40,000 square foot stores, yet our ideal format is 25,000. And it means that in the 40,000 square-foot store, I have to keep that store filled.' That is counterproductive, because it's money [i.e., inventory] that is not turning. Stores on steroids will start making some choices...
...were launching a retail concept in today's economy, how would you approach it? I think, as a culture, we are over-stored. All store chains would be healthier if they were smaller. If I were to act on a new retail concept today, I would ask, 'how do I marry the idea of a physical asset with an online world?" So rather than saying 'I'm going to have Victoria's Secret and then have victoriassecret.com, can I stand back and conceive of an online business which has a physical manifestation that drives...
...though religious groups have sounded off about how Sunday sales are harmful to families, legislators such as Harp are reaching out to them by adding enforcement provisions designed to crack down on store owners who sell to minors. In a state like Georgia, where more than two-thirds of residents say they'd like to be able to buy a six pack on the sabbath, Harp's efforts may just win his bill votes, even though Governor Sonny Perdue, a teetotaler, said he'd veto any bill that came across his desk...