Colin McFadyen

When I lament poor store environments it’s not just because they’re unpleasant on the eye. It’s also because they are commercially damaging. We’ve run many numbers on this and there is a strong correlation between the satisfaction ratings for in-store experience and the growth rate a retailer achieves over the medium term. One of the most important things for legacy retailers to understand is that the consumer has plenty of alternatives, including up and coming players. Not only do these provide a place to defect to, but they also set a benchmark for what ‘good’ looks like. Take, for example, the new Vuori store that just opened in our local mall. The 4,850-square-foot space is modern, fresh and very well merchandised. It invites the consumer to dive in and engage. And given Vuori’s spectacular growth rates over the past few years, their strategy is working. It’s not just Vuori. Our mall is crammed full of new brands with great looking stores, accompanied by older brands, like Levi’s, which have opened their own well appointed shops. This changes the dynamics of the mall. It used to be the anchor stores – usually the big department stores – that were the magnet pulling consumers in. Now, the main attraction is the healthy ecosystem of beloved brands with smaller stores. It’s really not complicated to understand. If you want people to make the effort and take the time to come to your store, you have to make it worth their while. If you don’t, you lose out.