I read an interesting piece in Fortune this week about the revival of the store within a store concept. Some of the country’s biggest multichannel retailers, including Sears, Target and Walmart have recently rolled out new marketplaces or boutiques within their existing retail stores.
The benefits of these partnerships are easy to see. By partnering with specialized retailers and manufacturers, large retailers can fill holes in their product offering and capitalize on new retailing or product trends quicker. They can also tap into a wealth of new crosschannel and cross-brand marketing opportunities.
A variation of the store within a store concept is also gaining steam for online retailers. Fortune notes that almost 80% of the products sold by Amazon come from outside sellers who handle their own products, set their own prices and provide their own customer service. Sears also recently launched "Marketplace at Sears" following on this concept.
I think this is a trend that we will see much more of over the next year, as our traditional retail models continue to shift and retailers embrace new ways to engage their customers and drive sales across channels.
The key for retailers will be developing compelling store within a store environments (be it online or in-store) that excite customers and draw them in. That sense of uniqueness and surprise will be essential to elevating the brand, capturing customers’ attention and capitalizing on sales opportunities.
Copyright 2010, Official Blog of Blueport Commerce
The benefits of these partnerships are easy to see. By partnering with specialized retailers and manufacturers, large retailers can fill holes in their product offering and capitalize on new retailing or product trends quicker. They can also tap into a wealth of new crosschannel and cross-brand marketing opportunities.
A variation of the store within a store concept is also gaining steam for online retailers. Fortune notes that almost 80% of the products sold by Amazon come from outside sellers who handle their own products, set their own prices and provide their own customer service. Sears also recently launched "Marketplace at Sears" following on this concept.
I think this is a trend that we will see much more of over the next year, as our traditional retail models continue to shift and retailers embrace new ways to engage their customers and drive sales across channels.
The key for retailers will be developing compelling store within a store environments (be it online or in-store) that excite customers and draw them in. That sense of uniqueness and surprise will be essential to elevating the brand, capturing customers’ attention and capitalizing on sales opportunities.
Copyright 2010, Official Blog of Blueport Commerce
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