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FoxFire!Monday, September 13, 2010Pick Your Spots Toys-R-Us has recently announced plans to add short-term locations this Christmas shopping season. They will be setting up shop in vacated storefronts in malls and shopping centers to pick off additional traffic that their current permanent stores don't attract. It's a brilliant move for several reasons.
First, it's tried and true in other industries. Look at any empty Blockbuster Video or Circuit City location right about now -- they are being occupied by Halloween stores on 2-month leases. Same goes for fireworks shops each summer. They pop up in every vacant storefront for a short selling season and then disappear again. That's exactly what Toys-R-Us wants to do, adding outlets for their busiest season and then folding up when the season is over. Second, it's low risk. Retail property owners don't exactly have big lines clamoring for their vacant spaces right now; supply far surpasses demand. As a result, I'm guessing Toys-R-Us has gotten sweet deals almost everywhere they have gone. Between convenient locations and their well-recognized name, they are sure to get traffic. That spells profit! The adage "Location, Location, Location" holds true even in short-term bursts of seasonal business. Where could you be more convenient to customers? How could you be easier to access when the buying decisions are being made? Pick your spots, and compete for traffic in creative new ways! Labels: creativity, customers, differentiation, management, marketing, planning, strategy
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