Neighborhood Goods Introduces the Department Store of the Future
Laura McQuarrie — December 10, 2019 — Business
References: neighborhoodgoods & fastcompany
With its 4,500-square-foot space in NYC's Chelsea Market, Neighbourhood Goods is introducing the department store of the future with its flexible, experimental design. The next-gen department store is a place where people can discover products from established companies alongside up-and-coming online-first brands. Notably, Neighborhood Goods is particularly flexible with how much space brands can occupy and for how long. Neighborhood Goods also gives brands the freedom to use its easily adaptable space how they'd like, whether it's for an activation or displaying products.
2019 has been a particularly challenging year for legacy department stores and disruptive start-ups like Neighbourhood Goods are helping to refresh the tired retail model by reimagining it for shoppers in the digital age.
Image Credit: Neighborhood Goods
2019 has been a particularly challenging year for legacy department stores and disruptive start-ups like Neighbourhood Goods are helping to refresh the tired retail model by reimagining it for shoppers in the digital age.
Image Credit: Neighborhood Goods
Trend Themes
1. Flexible Retail Spaces - The trend of flexible retail spaces allows for experimentation and collaboration, creating opportunities for brands to adapt to changing consumer demands.
2. Omni-channel Retailing - The rise of omni-channel retailing enables brands to seamlessly blend online and offline experiences, providing customers with a cohesive shopping journey.
3. Pop-up Retail - The pop-up retail trend offers brands a temporary physical presence, allowing them to test markets, increase brand awareness, and generate buzz through limited-time experiences.
Industry Implications
1. Retail - The retail industry can embrace flexible retail spaces to revitalize traditional business models and create immersive shopping experiences for customers.
2. Technology - The technology industry can support omni-channel retailing by providing innovative solutions for seamless integration between online and offline shopping channels.
3. Marketing - The marketing industry can leverage the pop-up retail trend to create unique and engaging brand experiences, as well as drive social media engagement through limited-time events.
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