The “Third Space” of Retailing

Some store-based retailers have embarked on rather novel concepts to drive business to their stores. One such concept is the “third space.”
According to Marian Berelowitz, writing for JWT Intelligence:
“Brick-and-mortar retail will increasingly serve as a ‘third space’ that’s only partly about transactions. The hard sell is becoming less important than providing something more fun, helpful, satisfying, or distinctive than E-commerce can offer.”
“In the U.K., for instance, Tesco has revamped a Tesco Extra store in Watford, adding a community room that locals can reserve without charge for yoga classes, birthday parties, etc. Some inventory has been moved online to create space for a restaurant, coffee shop, and bakery; the new health and beauty department will include a nail bar. Similarly, a Duane Reade drugstore on Wall Street in Manhattan offers blowouts and manicures. Duane Reade parent Walgreens has been opening flagship stores around the U.S. that feature expansive cosmetics sections staffed with ‘beauty advisers’ as well as coffee bars. “In the electronics sector, Radio Shack is starting to remodel U.S. stores with the aim of becoming ‘the neighborhood technology playground.’ A new campaign uses the tagline ‘Let’s play.’ Stores will include a speaker wall where customers can test sound on their Bluetooth-enabled devices.”
Click the image to read more.

 

 

This entry was posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Part 8: Putting It All Together and tagged , , , , , , , , , , , , , . Bookmark the permalink.

One Response to The “Third Space” of Retailing

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