In order to stay ahead of the game you have to be both relevant both online and offline. You can’t just whack up a load of products on a website or plonk things on a shelf anymore!
You have to go way beyond.
Yoga studios, DJ’s, craft beer pop-up stands, cafes, book clubs, super clubs so called experiences often found in department and big box stores with their floor upon floor of quite bland products were all the rage last year to the point where it’s almost become gimmicky!
Creating experiences for your customers should be authentic, not cheap marketing tactics that gets you a few more Facebook likes. Experiences should engage and tantalise the customer, they should have meaning. Gem and I are in the planning stage of creating an installation in Stockholm in the summer and we’ve been brainstorming what makes our heart skip a beat and it always comes down to this- authenticity where there is meaning behind what you do (more on Sweden in another post it’s a little hush hush at the mo)!
As a retail store whether you are online, offline or both you can no longer sell what everyone else is selling, you have to offer meaning and a point of difference to your customer.
We have completely rethought and restructured our wholesale biz as a result. Last year I found out that some of the stores we had been selling our botanicals too were undercutting us (quite majorly) and using my name purely as a traffic driver- to get customers onto their websites. So we looked like we were charging so much more than them, who knew retail was so cut throat. I’ve since spoken to some CEO’s about this problem and apparently its rife you wouldn’t even believe some of the stories I’ve been told!
So, now we are concentrating on expanding aboard, have ceased doing any trade shows over here and are only working with a very few selected stores in the UK. I agonised over this decision so much but its all turned out really well because it means as a retailer we retain exclusivity and offer a diverse product range that other stores don’t have. It’s a new shopping landscape out there and I’m excited to embrace it. WISH ME LUCK!