Date added: 08/31/2016 Mini-Stores: Are They Really the Future of Retail?
As online shopping begins to take the allure of in-store shopping away, major retail stores have started to look for ways to give customers the one-stop shopping experience afforded by the numerous online stores that are accessible on all devices.
Mini-stores would have been considered a fad aimed at rejuvenating traditional brick-and-mortar stores if it wasn’t for their unbridled success. Of all the strategies employed by various brands in a bid to revitalize their physical storefront locations, mini-stores have proven to be by far the most successful.
The Concept of Mini-Stores
Simply put, mini-stores are stores within stores. They are often brand-specific retail shops located within bigger retail locations such as department stores and big-box retailers. As their name suggest, these so-called “specialty stores” focus on one brand.
Despite their brand-specific orientation, some of the prominent supporters of the marketing strategy such as Apple and Macy’s have been largely successful in this new trend.
Why are Mini-Stores Taking Over?
The primary reason why mini-stores are slowly redefining the future of shopping is that, unlike conventional methods of advertising such as with print and mainstream media tv/radio ads, they bring the brand straight to consumers who typically wouldn't have access to these mainstream marketing campaigns.
The trend has led to the rise of strategic partnerships of various establishments, one of which is Best Buy and Macy’s. Targeting the holiday season, Best Buy has begun to open up its mini-stores inside Macy’s retail outlets in an approach that aims to boost the sales of both establishments. In a nutshell, here is how both retail stores benefit from this symbiosis:
- Best Buy’s mini-stores make Macy’s a one-stop shop for a wider range of products.
- Macy’s customers who previously did not have access to a Best Buy location can now enjoy the perks of having their mini-store within a nearby Macy’s Outlet.
- Customers will be encouraged to visit one of Best Buy’s larger retail outlets.
- Macy’s will also attract more customers thanks to the store-within-a-store approach. Read more here.
Is This the Future of Retail Shopping?
Mini-stores look set to revolutionize retail outlets forever. The marketing trend has proved its worth with tech shops such as Apple and retail bigwigs such as JC Penney and Best Buy.
For the customers, convenience and access to a wider range of products all from within one retail outlet are something many will benefit from. For the retail stores, a beneficial partnership with strategic marketing to a bigger audience is just but the tip of what mini-stores are bringing to the table.