HOME SWEET...MALL?

   As a child in the ‘60’s, a big shopping excursion on Saturday with my mom was going to downtown Canton or Wooster.  By the ‘70’s, the model changed as suburban malls sprang up with ample parking, the best stores and comfortable, convenient environments.  Westfield Belden Village in Canton was the largest indoor mall in the world when it opened in July 1969.  The Mall of America – still the largest US mall – opened in 1992, perhaps the apex of the traditional mall.

   Twenty-plus years later, many US malls struggle.  Occupancy rates average only 92%, some malls have been shuttered altogether and rents are around 2006 levels.  Coincidentally, the last time a new one opened in the US was also in 2006.  Instead, we’ve seen the rise of “lifestyle centers,” e.g., Easton in Columbus, OH, which combine shopping with fine dining, entertainment and high-end apartments.

   As online retail grows exponentially, we have also seen dollar stores, “power centers”, outlet malls and other formats arise and thrive.

   Retail remains a rapidly-evolving, exciting and inviting world for shoppers and brands alike.  Meeting the timeless needs of people to (1) physically interact with products for potential purchase, (2) gain insights from knowledgeable sales staff, (3) interact with friends as they weigh their options and (4) enjoy the instant gratification of finding, buying and taking purchases home on the spot makes the world of displays, fixtures and retail planning a great challenge worth doing well.

TELL 'EM WHERE TO GO

   I cannot resist referring to Herb Sorenson again.  If you want to understand the science of shopping, there’s no better place to start.  In his books and his blogs, Herb shows where so many retailers and consumer packaged goods companies go astray.  Common sense isn’t so common.

   In this 2010 blog post, Herb points out that shoppers want to know what to buy.  They want to be told where to go!  Think of it: the average shopper enters a store seeking three-to-seven items.  They may be attracted to the store by the massive array of products – maybe 20,000 up to 100,000 items – but must then try to find the needles they want in the retail haystack.  ATTRACTING is very different from SELLING. 

   Great store design helps people quickly find and buy what they want with a minimum of hassle.  Frankly, common wisdom among retailers runs counter to this idea.  Instead, they look for ways to keep shoppers in their stores longer.  The most successful retailers today, e.g., Costco, Trader Joe’s, Aldi, understand how the science of shopping works. 

   Tusco Display does, too.  As display and fixture producers, we advise our clients on how to put these same lessons to work as we encourage CPGs and retailers to think about ITEM management more than CATEGORY management.  When we all help shoppers spend their money faster, everybody – marketer, retailer, shopper and consumer – benefits.