HOW TO MAKE YOUR STORE SUCCESSFUL
by Alex CHACON
1. CURRENT ISSUES
1.1. Too much inventory
1.2. Large footprints
1.3. Lack of effective customer service & promotions
1.4. Lack of services & convenience
2. KNOW YOUR CUSTOMER JOURNEY
2.1. OLD MODEL : see it on TV / Get offers on the mail / Go to the store and buy
2.2. What is your Customer Journey : from triggering moment to store
2.3. Disruption model : cart size vs frequency ( online & at the store )
3. IN STORE EXPERIENCE
3.1. Curated inventory
3.2. Not "one size store" fits all
3.3. Aim for "this is my store" from consumers
3.4. Customized & Localized assortments : example Starbucks neighborhood feel / concepts
4. BRAND EXTENSION
4.1. What does your brand stand for beyond products: experiences? services?
4.2. Tommy Bahama : lifestyle clothing, adding lifestyle bar & restaurant
4.3. PetSmart : 50% merchandise / 50% services
5. SPEAK TO CONSUMER
5.1. Beware of the coming rise of minimum wage
5.1.1. Utiize workforce in the store wisely
5.1.2. aim for productive employees