América Retail | Homepage
Monday, June 26, 2017

La primera comunidad del retail en Latinoamérica

USA: Here’s How Bed Bath & Beyond Is Looking To Increase Store Traffic

USA: Here’s How Bed Bath & Beyond Is Looking To Increase Store Traffic

Noviembre 16, 2016

👤Periodista: María Alejandra Lopez 🕔16.Nov 2016

 

  • Reports suggest that Bed Bath & Beyond will serve wine and beer to its customers at its new 120,000 square foot store with a restaurant, opening this month in Brooklyn.
  • As brick-and-mortar retailers struggle to grow store traffic, human experiences which cannot be replicated online can be a key traffic driver.
  • Experts believe that adding restaurants to stores is a good strategy for retailers, allowing to better engage with customers in a more proactive way

Reports suggest that Bed Bath & Beyond (NASDAQ:BBBY) will serve wine and beer to its customers at its new 120,000 square foot store with a restaurant, opening this month in Brooklyn. This move comes after another retailer Barnes & Noble (NYSE:BKS) announced that it would open a bar restaurant serving wine and beer in addition to breakfast, lunch and dinner at its stores. As an increasing number of retailers look to develop a competitive edge over online players, restaurants inside stores can ensure that consumers spend a long time at these stores and consider them more as “destinations” for shopping. According to retail expert Warren Shouldberg, creating retail stores which are more than a place to buy stuff can drive traffic in these stores. We believe Bed Bath & Beyond’s experiment of opening a restaurant in its stores can work in its favour, increasing the time spent by consumers at its stores and luring them away from online shopping to its new “destination” thus driving revenues in the long term.

Read Also: Prime Now adds its first drug store just in time for the holidays

Driving Store Traffic Through “Destination” Experience

As brick-and-mortar retailers struggle to grow store traffic, human experiences which cannot be replicated online can be a key traffic driver. As Warren Shouldberg puts it, “you can’t go out to eat online.” A restaurant within a departmental store can improve the shopping experience, make it more social and attract more consumers. Retailers from Macy’s (NYSE:M) to Urban Outfitters (NASDAQ:URBN) are adopting this strategy to fight online competition. IKEA recently announced that it is giving its 41 restaurants in the U.S. a makeover, given the high foot traffic in them. As consumers are attracted to stores with restaurants, this strategy can drive traffic and consequently revenues for Bed Bath & Beyond. As per our estimates, the average revenue per square foot for Bed Bath & Beyond stores will increase from $234 in 2016 to around $246 by the end of our forecast period.

Source: Seeking Alpha 

Articulos relacionados

USA: Neiman Marcus embracing innovative tech

USA: Neiman Marcus embracing innovative tech

Junio 23, 2017

  Luxury retailer Neiman Marcus is all about digital technology and embracing more than a few

USA: Walmart is telling vendors to stop using Amazon’s cloud

USA: Walmart is telling vendors to stop using Amazon’s cloud

Junio 23, 2017

  Walmart has issued a warning to tech companies it does business with: don't use Amazon's cloud services. Amazon

USA: Best Bath and Beyond plunges after missing across the board

USA: Best Bath and Beyond plunges after missing across the board

Junio 23, 2017

  Bed Bath & Beyond is falling after missing earnings. Shares are down 11.38% in aftermarket trading

USA: Parent of Burger King, Tim Hortons to curb antibiotics in chicken

USA: Parent of Burger King, Tim Hortons to curb antibiotics in chicken

Junio 23, 2017

  The parent of Burger King and Tim Hortons on Thursday vowed to cut the use

USA: Los resultados acompañan a Costco

USA: Los resultados acompañan a Costco

Junio 23, 2017

  El retailer estadounidense Costco Wholesale ha facturado 84.815 millones de dólares (75.754 millones de euros)

Últimas Noticias

Newsletter

SECTIONS

América Retail