Story founder Rachel Shechtman reveals how her innovative concept store, Story, reinvents physical retail by constantly changing its inventory and layout based on themes. Shechtman emphasizes the importance of experiential retail, supporting small businesses, and facilitating B2B connections within a physical space. This episode offers critical insights for retailers grappling with evolving consumer behaviors and the challenges posed by e-commerce.
Key takeaways
Implement a dynamic, experience-driven retail model by regularly refreshing store themes, merchandise, and layout to encourage repeat visits and discovery.
Prioritize showcasing small and independent brands to offer unique products and create a curated customer experience.
Cultivate B2B foot traffic by positioning your physical store as a discovery hub for other retailers seeking new products and brands.
Analyze traditional retail models, like department stores, for their vulnerabilities and adapt your strategy to offer a more agile and responsive retail experience.
Embrace the intersection of physical and B2B retail to create multiple revenue streams and foster industry connections.
Rachel Shechtman is the founder of the concept store Story in Chelsea, a neighborhood in New York City. Story changes its inventory and physical layout every few weeks, and each new remodel is based around a theme. The merchandise carried by Story is usually sourced from small businesses who get facetime with both potential customers or other retailers that are looking for new merchandise. According to Shechtman, 15 percent of foot traffic is from B2B companies. Shechtman joined the Glossy Podcast to share more about how Story operates, how new retailers are (or aren’t) reinventing the wheel, and how department stores are faring in the new landscape.
What does this episode say about retail & omnichannel?
Implement a dynamic, experience-driven retail model by regularly refreshing store themes, merchandise, and layout to encourage repeat visits and discovery.
What does this episode say about brand & content?
Prioritize showcasing small and independent brands to offer unique products and create a curated customer experience.
What does this episode say about founder & leadership?
Cultivate B2B foot traffic by positioning your physical store as a discovery hub for other retailers seeking new products and brands.
What does this episode say about retail & omnichannel?
Analyze traditional retail models, like department stores, for their vulnerabilities and adapt your strategy to offer a more agile and responsive retail experience.
What does this episode say about retail & omnichannel?
Embrace the intersection of physical and B2B retail to create multiple revenue streams and foster industry connections.
