CACI comment: the space age - how to maximise store value
While the harbingers of High Street doom decry bricks and mortar, the reality is more subtle than that. The role of the store is changing, but its significance to retail remains huge. That’s according to Louise Etherden, Head of Proposition and Chris Thompson, Head of Retail, CACI.
In an exclusive comment piece for RTIH, they flag up stats showing that shopping frequency declined by 13% last year, but purpose-led shops which focus on a very specific end goal were up by 10%. The important questions for retailers should, they argue, be focused on how they quantify the role of the store. How do stores contribute to incremental sales across the business? Can they add more touchpoints, through features like Click & Collect, to meet the changing demands of consumers?
“As retailers get to grips with the changing role of stores as brand centres, format and layout takes on added significance. Crucially, those brands which are disappearing from our High Streets and retail parks have all failed to experiment and innovate in format and layout. The risks of ignoring these opportunities are clear for all to see,” they write.
Check out the full comment piece here.
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