The Retailer Spring Edition 2021

THE RE TA I L ER

2 8

WHAT ARE THE EXCITING OPPORTUNITIES AWAITING RETAILERS?

Marcus Fox Group Managing Director iD

R ETAIL IN THE ROARING 2020’S - EXPLORE WHY NOW’S THE TIME TO EXPERIMENT WITH YOUR RETAIL ESTATE AND SEMI-permanent STORES There has never been so much opportunity the retail market for retail- ers (new and established), to test and learn via the semi-permanent retailing space. Post lock-down, consumers are craving a deeper and more emotional relationship with brands – this can sometimes only be delivered through physical retail stores. As retail brands adjust to a new symbiotic existence with online purchasing, both channels will become increasingly harmonised. As the role of the retail store is evolving, successful and progressive retailers are defining a new era of agile retailing – meaning shorter and more flexible commitments, modular and adaptable builds, as well as experiential and entertainment-led retail concepts. As a result of this we have seen stores being designed, built and opened in a matter of days, not months; and knocking zero’s off - and this fundamental shift is liberating and exciting, but also enabling for whom retail stores may have previously been a commitment too far. These modern shopping spaces act collectively as centres of omnichannel consumer excellence, showrooming hubs for product demonstration or as classic marketing, raising brand awareness. Often centred in the heart of urban communities, these store doors are enticing new and previously untapped customers, strategically placed in an area you may have been previously unable to trade in. Suzanne Harlow Ex-CEO of Jack Wills recently noted that; ‘Pop-ups were some of our most profitable stores, they are a great opportunity to get some trialling and testing done.’ Sowhat is our definition of a semi-permanent store?

What are the main components of successful semi-permanent stores? Location

Covid-19 has seen the retail landscape fundamentally disrupted, prop - erty once considered a premium (with a price tag to match) is suddenly less desirable or no longer tenable. As Gartner states, ‘Post-pandemic, over 40% of workers are likely to work remotely at least some of the time.’ It is challenging for brands to determine the ‘right place to be’ with consumers in such unprecedented flux. A semi-permanent store format can help bridge that gap, giving options to rapidly reassess locations; you could be in a seasonal holiday destination, or within a larger multi-brand space in collaboration with like-minded brands within your customers ecosystem. Savvy brand partnerships or sub-leasing opportunities take advantage of existing footfall to an area or product that already attracts your target customers.

and improve”. ‘‘

Semi-permanent stores will drive inno- vation and accessibility into retailing - allowing more brands to test, learn