Welcome back to another monthly round-up from InsighTCC, where we bring you the brightest, best, latest, and greatest from the world of retail and beyond.
This time around we take a look at the rise and rise of in-store concessions, some shrewd landlord moves, and one of the most surprising bits of diversification we’ve seen in a loooooong time from Selfridges.
As always there’s more and more ‘grab and go’ shopping, a brilliant brand collab, some excellent examples of localisation and a virtual restaurant like no other…
Bringing up baby: Mamas & Papas to add further concessions in Next
After a successful concession opening in Next’s Cribbs Causeway store, Mamas & Papas are rolling out more. The nursery outlet will be opening 2,000 sq ft concessions at Next’s Brent Cross and Milton Keynes stores as the New Parent sector continues to perform strongly in physical spaces, with customers’ desire to touch and feel product high on their priority list. As we saw with the O2 shop in shop initiative, concession stores were gaining more traction pre-pandemic and it looks like that trend may continue post pandemic too.
Click & Rent: landlords looking to change up rent costs post-pandemic
We’ve mentioned before that some landlords have been negotiating new (often discounted) rental agreements with retailers as they seek to find new tenants for empty spaces. However, it’s now being reported that some landlords are even negotiating beyond just rent, asking for a percentage of Click & Collect sales to be included in the price. This could be a very shrewd move for both parties, with landlords making up for any losses and retail outlets pushing Click & Collect sales with renewed vigour, which are proven to convert additional sales in store in 85% of cases.
Can’t buy me love: Selfridges gains licence to host weddings in store
Yes, you read that right. Selfridges have announced they’ll be hosting “non-traditional ceremonies” in a dedicated wedding suite on the fourth floor after obtaining an official wedding licence for their Oxford Street store. Packages will include a wedding breakfast or three-course meal at the Brasserie of Light, a private screening of a favourite film in the Selfridges Cinema or a DJ set from east London collective Sink The Pink. Selfridges said the store is a “social space” and is keen to offer new ways to “celebrate the special experiences everyone has been missing”. And we thought diversifying with in-store spin classes was bold…
Legal & Local: investment firm offers rent free space to retailers
Institutional investor, Legal & General, has launched a new initiative as part of their ambitious national strategy to reinvent retail by re-imagining its own assets. Their new project comprises of a shopping street that champions independent retailers, called Kingland in Poole. To kick start the scheme, 10 new businesses have been given rent and rate free retail space for two years. Legal & General will also be rolling out this blueprint across the UK, curating each one to the needs of their community, which only highlights the growing need to focus on localism and experiences.
Grab and Go: frictionless shopping tech coming to apartment developments
The merging of retail and residential services is evolving to accommodate some of the most up to date technology. Accel Robotics is introducing their version of Amazon’s Go tech to a store located within the Vantage Point development in San Diego. The 1,500 sq ft store is open to the local community during the day, then exclusively to building residents after hours. The store will employ a combination of cameras and shelf technology, allowing shoppers to download an app, pick up their products and just walk out. The ultimate convenience for a top up shop after a hard day’s work.
Perfect partnerships: Land Rover teams up with Airbnb
Land Rover have teamed up with Airbnb to launch an eco-trailer holiday experience to showcase their recently-launched hybrid Defender model. With 10 locations across Europe, customers can book to stay in the trailer (made from recycled materials) and use the Defender to explore the local countryside. Customers also enjoy a gourmet dinner at a local restaurant and a voucher to enjoy a local Airbnb experience. It’s a great cross category partnership where both brands’ offerings are elevated by the others presence. Even if many customers won’t attend the experience itself, the content it creates will produce a wonderful halo effect.
Is Pepsi ok? Pepsi launch virtual restaurant
Pepsi have launched a temporary, virtual American restaurant to promote meals that start with your choice of cola. Their digital destination, Pep’s Place, offers a range of fast-food including burgers, ribs and chicken. But, to highlight the brand’s variety of flavours and ability to match with any meal, the ordering process starts by asking you to ‘Pick Your Pepsi’ before letting you choose a main and a side. Launching a virtual restaurant at this stage of the pandemic is an interesting choice…but as a means to highlight a point of difference, it’s a nice, engaging activation that should force Pepsi into consumer’s cola consideration (trying saying that after a shandy).
If there’s ever anything that particularly catches your eye that you want to chat about, feel free to get in touch with us. We’re always all ears!
Missed last month’s round-up? You can find it here.
Written by Daisy Sollis
May 28, 2021