clee1982
Stylish Dinosaur
- Joined
- Feb 22, 2009
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@Mr. Six
It's amazing to see what happened to Smith Street in Brooklyn. That was the location for our first store, and for a long time it was stridently anti-corporate.
You'd walk up and down this entire block and not see a single chain store. There were a few predictable food options (Starbucks, Dunkin) but everything else was independent. At its heyday (2012), it probably had about 15 womens boutiques and around 3 mens. Quite a few gift stores and speciality stores too.
By the time we closed up in 2016, traffic on the street was a shadow of its former self. On a Saturday in the past, we'd have people lined up to buy stuff at the counter, and we'd see pedestrians up and down the street with shopping bags from the other businesses. By 2016, neither ever happened. Our store did okay because we were the only local resource for biz-caz items, but dress pants and custom suits/shirts were really the only thing that we could sell. It just wasn't sustainable.
I'd like to blame it on the usual boogeymen of rising commercial rents, but truthfully, that wasn't the issue. The neighborhood got more wealthy and the residents simply stopped shopping locally. I went to a condo meeting with 100 people.. all of whom were in the salary range and general style to shop at my store, and not a single person had ever bought anything there. This was for a condo building 5 blocks away. They walked past the store every day on their way to the train. They simply didn't care.
That is the true impact of online shopping and constant availability vs. brick and mortar. Customers just don't care as much to spend time shopping in person. The long-standing model of a stocked store with an employee or two.. waiting for someone to come inside and buy something.. will mostly go away. You've got to offer much more than that for someone to invest their time with you.
Do you think you would have done better had your brand been known to them (not saying pouring into advertisement was the way to do it). or do you think the fact that menswear (the ones that kind got started after financial crisis) the way we know has been over saturated for a few years now (look at JCrew and Polo Ralph Lauren)