Two notable retail trends:
If you’ve been paying attention to retail trends you’ve probably noticed two hard to miss industry shifts:
1. Retail bricks and mortar locations are suffering in a big way (waves a mournful goodbye to Lord & Taylor‘s flagship 5th Avenue location) and
2. Some brands are ignoring the gloom and doom retail trend and opening big, bold locations to appeal to a more tactile shopper. Case in point, the newly announced CoverGirl flagship store, a 10,000 square foot location to open in Times Square this fall.
So, what prompts a brand to attempt to buck a trend? In the case of CoverGirl, the first brand to market exclusively to teens back in the early ’60s, it’s a number of factors.
Location, location, location:
Unlike Anytown, USA, the new store will be smack dab in the center of a tourist mecca. While people once traveled to experience and then purchase the unusual or hard to find beauty objects, they can now access nearly anything online. What the store will do will provide tourists the opportunity to play and explore while visiting NYC. It’s a clever way of elevating an existing brand to something fun, desirable and part of the adventure.
I makeup, therefore I am:
According to the release the store will be “an experiential interpretation of the CoverGirl“I am what I make up” brand philosophy, inspiring shoppers to use makeup as a tool for self-expression and personal transformation.” While apps can help people imagine what a color might look like, trying it on in-store provides an experience. It also takes a decades old drugstore brand and re-positions it as something iconic. The elevation by association started with brand partnerships with stars like Katy Perry continues with a new city as a partner.
Everyone is welcome:
What the announcement hints at, its that a store in the heart of one of the most complex and open cities in the world also means that unlike the perky teens originally targeted by the brand, the store itself probably aims to be inviting to anyone no matter age, stage, or gender. “Opening a concept store will help bring this brand purpose to life in an immersive, elevated and multidimensional way.”
Will it work? Maybe. There are so many factors to keep in mind from how much of a loss the company factors in, to how much market share they crave, on-site events will add to the allure and more. Only time will tell.