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By: Erin Uchaz & Mikaela O’Halloran

By: Erin Uchaz & Mikaela O’Halloran. About Story. Located in the Chelsea neighborhood of New York City Boutique that changes its store concept every four to eight weeks Each concept tells a different “story” “explore themes that are universal in concept but niche in execution”

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By: Erin Uchaz & Mikaela O’Halloran

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  1. By: Erin Uchaz & Mikaela O’Halloran

  2. About Story Located in the Chelsea neighborhood of New York City Boutique that changes its store concept every four to eight weeks Each concept tells a different “story” “explore themes that are universal in concept but niche in execution” Goal is to be ever changing like our mobile life is – even within a story products can change weekly

  3. http://www.inc.com/nicole-carter/a-brick-and-mortar-start-up-store-rachel-shechtman.htmlhttp://www.inc.com/nicole-carter/a-brick-and-mortar-start-up-store-rachel-shechtman.html

  4. Founder of Story 36-year old Rachel Shechtman consulted for brands like Kraft, TOMS shoes and Lincoln One of Fast Company's “100 Most Creative People in Business 2012” Fortune’s 2013 40 under 40 Believes “the future of retail will be less about consumption and more about community” and “collaboration is the new competition”

  5. How It Profits • Advertisements and sponsorships are crucial for the store’s profit and sustainability • can cost anywhere from $50,000 to $175,000 • Perfect place for conversations between consumers and brands • Appeals to all age groups and all levels of spending as long as they relate to the story • “People always say, "who’s your market?" And I always say I only have two rules. Every story needs to appeal to someone between the ages of 5 and 80, and there has to be something for sale that’s $5, and it can go as high as $5,000.” • In store events like classes, book signings, music and talk events • Hopes to expand with at least 5 stores in the next 3 years (as of 2013)

  6. Past Stories • Launched in Beta as a “Start-Up Store,” spotlighting emerging digital retail concepts • Home for the Holidays Story – turned the weekend between black Friday and cyber Monday into a block party and doubled sales from the previous year • “an editorial gift guide that comes to life in someone’s home” - The living room is Something for Everyone, the playroom is for the Kids and so on • New York Story – custom Milk Made ice cream flavors sold by the pint or cup for the first time and exclusively at Story, skill-share classes with New York Mouth

  7. STRENGTHS WEAKNESSES Not well known Limited Advertising Turnover time People may assume that it is an expensive store because they have expensive products Only in New York No online store • New spin on Brick-and Mortar • Different Concept • Every 2 months there is a new reason to come back • Appeals to the ‘fickle customer’ • Target men, women, and children between the ages of 6-90 • Interactive  not just shopping • Events, activities, food and drink • “Interaction in a retail space often leads to interaction with wallets and purses”

  8. OPPORTUNITIES THREATS Copycats Stores with the same products but cheaper • Expanding to different locations • LA? London? Tokyo? • Marketing and Advertising • Grow its social media presence • Smaller Businesses

  9. References http://www.huffingtonpost.com/2012/11/09/concept-shop-story_n_2103800.html http://money.cnn.com/gallery/magazines/fortune/2013/09/19/40-under-40.fortune/36.html?iid=40Under13_fl_list http://www.thenextwomen.com/2013/04/24/inside-scoop-story-revolutionary-nyc-retail-concept http://nypost.com/2013/12/03/small-businesses-see-increase-in-holiday-sales/ http://www.elle.com/fashion/spotlight/holiday-picks-from-story-chelsea#slide-1 http://www.coolhunting.com/design/story-new-york.php http://www.bloomberg.com/video/story-shopping-in-a-living-magazine-BvaSP9b8QuWlVt_BZd5tng.html http://www.inc.com/john-brandon/this-start-up-is-shape-shifting-the-retail-store.html http://www.inc.com/nicole-carter/a-brick-and-mortar-start-up-store-rachel-shechtman.html

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