I might be an old soul who prefers pen and paper to a keyboard, but I will never say no to a retail concept that brings digitalia to the brick and mortar store. When a colleague told me about Rebecca Minkoff’s revolutionary store in New York earlier today (yes, I am late to the party), I jumped for joy.
To my mind, the future is all about blurring the lines between physical and digital. Subscription e-commerce blockbuster Birchbox, opened up its first store in Soho last year. Every traditional retailer is jumping on the e-train. The time for pure play is over.
For a while now, we have seen several brands like Burberry dip their toes into the digital world, but Rebecca Minkoff completely immersed herself in it, yielding a retail strategy that is both magical and modern.
Is this a dream? With touch screen mirrors that allow you to select and have garments delivered to your dressing room (as well as a glass of bubbly to add to the experience), order a different size from the comfort of your cubicle and have your stylist drop it off to you with an experience that rivals that of Uber, this retail model is everything that the millennial woman has been looking for and more.
What most people miss is that Rebecca Minkoff, in partnership with eBay, has built this model with a very simple strategy: identify the pain points of the new age shopper and doing something about them. I mean, you don’t even have to stand in a queue to pay – you can cash in your goodies from anywhere in the store with the help of an iPad-bearing sales rep.
Benefits to the consumer aside, can you even begin to imagine the sheer amount of data that the brand is racking up? This data can be used to derive valuable insights about purchase behaviour, manage stock levels by predicting demand for hot-selling items and build intimate relationships with each consumer by knowing them better than the competitor does.
Love, love, LOVE it.