Nike store showing retail how to look ahead
Tom Dougherty, CEO – Stealing Share
14 November 2016
Retailers looking for a better in-store experience should take note
If you’ve been reading the new articles on this site (and blog), you’ll notice that we’ve been digging deep into the retailer industry. Stores are closing. Sales are dropping. And all retailers are looking for solutions.
You can find our recommendations here, along with a complete study here. But most brick and mortar stores are scrambling to find ways to transform their locations into destinations shoppers will actively seek out.
A new Nike store in downtown New York City is offering a template for just that future.
The shop is a complete interactive experience. Shoppers can try out new products in actual sports settings, such as on treadmills while sensors record the best fit. A personalization studio allows shoppers to laser engrave on their shoes and touch screens mimic the online experience of choosing product.
It’s not exactly what we’ve recommended, but it’s very close. We believe the in-store experience has to join the technological age, recommending digital measurements so shoppers can browse clothes that actually fit.
The Nike store overcomes many retail issues
Right now, most brick and mortar retail stores feel and look like something from the Eisenhower era. The world has simply passed them by and few integrate their online experience with their in-store one.
That’s how you become irrelevant. (And watch Amazon eat your lunch.)
The Nike stores are a step in the right direction, with the right kind of thinking. There are land mines here, though. A Nike store like the one in NYC – a 55,000 square foot monstrosity – is costly to replicate. (Nike will replicate one in Miami soon.) But the thinking behind such improvements is exactly what retail needs.
There’s another reason why I think this will be a success for Nike. It has a meaningful brand, one of the most meaningful in the world, which says its customers “just do it.” That’s a leadership position.
Retailers must re-think what they do in stores, but they also need to ensure they have a differentiating brand that gives them permission to do all those things. And make them important.
Too much customer service Tom Dougherty, CEO - Stealing Share 21 June 2018 Too much customer service is a real thing I’ve said this before, but I gotta say it again. Too much customer service drives me bat-shit crazy. Not surprisingly, Best Buy kills me with this....
Dow Jones ousts GE Tom Dougherty, CEO - Stealing Share 20 June 2018 Dow Jones kicks out GE. Now what? In 1896, the stock market adds GE as one of Dow Industrial Average’s first companies. As of June 26th of this year, it will no longer be part of the DJIA. I typically...
Tim Cook is leading the way Tom Dougherty, CEO - Stealing Share 19 June 2018 Apple CEO Tim Cook Tim Cook. Apple Act 2. Like everyone else, I worried about Apple’s succession plan. I was a died-in-the-wool member of the Steve Jobs cult. I was not sure what to make of...