Sunday, May 17, 2009

Every great store tells a story



In a previous blog I spoke about retailers going ‘back to basics’ and re-assessing the truth of their core brand DNA. In an attempt to get consumers engaged in that brand they are finding new ways through VM to unveil their brand through story telling. This was a trend that was emerging throughout the US but seemed a lot more developed in the UK market.

I’ve already given you the example of Selfridges in London, a wonderful and elegant execution of story telling. Celebrating 100 years they are telling their story through elaborate VM, unique partnerships and a museum style gallery.



Other retailers who are using this technique are the supermarkets. Take Trader Joes in the US as an example. Each piece of signage explains a little more about the products – where they came from, what they once were, the name of the maid who milked the cow to give you your half fat pint. I exaggerate, but you get the picture. The execution is also very believable. Each piece of POS and price ticketing is individually hand written. It’s incredi
ble how compelling that is when you are following their story around the store.



Suit Supply In the UK also has a charming story to sell. Their current VM highlights the history and roots of their brand. A Dutch company with clear strong connections to South Africa. So each graphic in store, each piece of POS and their catalogue highlight stories from young African men. Each shot at their homes wearing a suit of course.



New Look in London another good example. An incredibly low priced fast fashion brand whose VM competes with high end retailers. Each department in New Look is ornately designed with beautiful furniture, wooden floorboards and intriguing VM. The shoe department has thousands of pairs on display in a boudoir style setting. The décor tells the story of good quality while the prices speak for themselves.

The Body Shop has always done a great job of story telling throughout all of their VM. Even their reluctance to advertise has a story behind it. They’d prefer to spend their advertising budgets on helping and developing areas around the world where they source they products and ingredients. If you ever get the chance to visit ‘The Body Shop’ factory in Littlehampton, Sussex, UK Id highly recommend it. The entire factory tells the Body shop story from start to finish.



As I’ve mentioned, it’s no longer enough to just sell product in stores. Customers need a reason to visit. They’re becoming savvier, less tolerant and see through the marketing jargon. As a result retailers have to become more transparent in their offering, and what better way to do that than through compelling stories. Every retailer has a unique proposition, the key is to identify it, use it and tell your individual story.

Diversification is key.

I was reading an article in the Daily Mail this morning that hit on a trend I’ve seen emerging throughout the US and UK retail market. It said:

Top entrepreneurs say their businesses are weathering the storm of recession helped by diversification, though they admit that their growth will be harder to achieve in the next three years.

Three quarters of the respondents listed in the annual Real business/LDC Hot 100 league of fast growing businesses say they have kept or increased their sales projections despite the economic climate. And while unemployment is hitting 9% in most countries, the hot 100 say that they have not made any redundancies in the past 12 months and three quarters say they would still have started a business today – even in the midst of recession…..

This years list includes the upmarket handbag and luggage group Radley and co, retail pharmacy Pathvalley, helicopter charter business Von Essen Aviation and ES group whose lorries ferry stage equipment for performers such as Madonna to concerts.

Interestingly some of the big retail players are following this model, helping themselves weather the recession. Zara clothing for example have branched into homewear, Pottery Barn into a kids range, Jaeger have launched Jaeger black, Jaeger London and Jaeger men, Victoria Secrets have launched PINK, KaDaWe in Berlin have crèche facilities, a spa and restaurant plus banking in their department stores, as have Tesco in the UK who are predicted to be one of the biggest high street banking chains in Britain in 3 years. ALDI supermarkets sell holidays, ASDA advertises houses for sale, Sainsbury’s are trialling GP’s in 16 of their stores. TopShop offer a nail service in store, personal shopping, hair and make up plus pic ‘n’ mix sweets.

What’s interesting however is that the recession is seeing some of these diversifications of brands reuniting in one store to cut down on rental spaces. Not necessarily a bad thing in my opinion. If the premise is to keep customers in store and engaged for longer, what better way to do it than by offering a better variety of services. If I can shop, get personal style advice, coiffure my hair, have a manicure and eat Bassets liquorice allsorts I could happily stay all day!