FUTURE OF COMMERCE FOCUS: EXPERIENTIAL RETAIL
"The Store is making its comeback"
During a recent panel, Joseph was asked by someone in the audience what was the single topic and trend that we will be talking about in the next twelve months: unequivocally, The Store.
When we think about the store, we don't see it as the traditional brick and mortar space with shelves full of stock and products; we think about an experiential store where the objective is not so much sales in-store but full product experience to engage customers.
b8ta store in Hudson Yards
The Store as a Marketing tool
Our conviction is that the store is becoming more a marketing tool and less a sales destination.
In this paradigm, we invested in b8ta which builds multi-brand experiential stores. They have 17 of their own stores dedicated to electronics and 14 stores in partnership with Macy's in the fashion space. Look out for November 2019 when they are relaunching the ToysRus brand in the US.
We believe that b8ta is shifting the retail model on its head and replacing all electronics or toy stores for example, focusing on sales rather than experience.
While these distribution focused stores may disappear, the Retail Renaissance will be all about experience and physical customer interaction.
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