Get the theme – retailing !!

Home 2011 January Get the theme – retailing !!
When retailing initially started, it was simply all about selling. But since someone started selling  and making profits, others soon joined the race. That led to the rise of different formats and strategies, but the basic ambiance in a store remained the same for a long period of time.However things have now started to move in a new direction. One of the most significant changes has been the rise of themed stores and restaurants or basically in any profit center. It serves the basic goal: Being different !
 
Let’s imagine you intend to buy a football( quite common, isn’t it!). You visit the nearby store and buy it. Now imagine you visiting a store in the form of a sports arena, where it seems as if you are right in the midst of the action- you not only buy the football!! You also buy an additional pair of gloves which looks the same as that worn by Oliver Kahn in 2006 world cup !! That’s the power of setting up theme stores.
 Though the cost of setting it up is generally at a premium anywhere between 60 to 200 percent or higher, yet once your break even point is reached( and it will be almost in the same time frame as that of a normal store, since your higher costs will be balanced by higher sales)- you standout from the mob !! Everyone in the town speaks about you and makes it a point to take their guests to show your store. Higher footfalls, and in short higher sales and the period after which you become a spent force is relatively longer as well.
 
Another major advantage of theme setups is that it can tremendously improve the survival chances of stand alone locality stores (especially in the age of multinationals in organised retail) , as you might be a small player but having a unique theme  will help you continuously attract people to your setup. To some extent even ad agencies follow the same rule while designing their office space.
Check out the below pic of a themed restaurant in Taiwan:
The toilet restaurant (People still love it!!)
 
 
Food for thought: Would you prefer a theme store or a traditional store while shopping?
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Abhirup
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 MBA, Author of 4 books, Finance guy who loves brands

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