Post: Stores face 'distinction or extinction'
By David Perry -- Furniture Today, June 12, 2008
Henderson, Nev. — Bedding retailers face a choice of "distinction or extinction," brand strategist Connie Post says.
The CEO of Connie Post Cos. believes said the rapidly evolving world of retail forces merchants to change with the times. "Retail formats have five to seven years of life today," she said at Furniture/Today's Bedding Conference here. "Your exterior is dead in seven years because of everything else evolving around you."
The key to success, Post continued, is to create compelling retail displays. "We need to create an amazing retail experience for our consumers," she said. One way to do that is to make a fresh start.
"New always wins," Post said. "This is your new mantra. If you want your store to be among the survivors, you need to innovate and to check out your customers' experiences in the store."
A retail makeover will produce a 10% surge in sales, according to Post. And grand opening events are the most believable of all sales.
Post said retailers need to appeal to women's senses to draw them into their stores. "Women fantasize about a spa experience," she said. "They want to feel safe, cared for and beautiful. They are uncomfortable with sterile shopping experiences."
And retailers must be mindful of the need to romance the consumer who is looking for high-end bedding. "There is a tremendous opportunity to move up to $3,000 and $4,000 bedding," she said.
Sleep is a sensual experience, according to Post. "Sleep becomes a fantasy for people today," she said. "Sleep is the new sex, and we can't get enough of it."
Post said the Ritz-Carlton, where the Bedding Conference was held, creates a great mood for sleep with its plush bedding. Consumers look forward to crawling under the billowing comforters, she said.
She outlined the store make-over program she is initiating with Dormia, the specialty sleep retailer owned by Classic Sleep Products. That retailer offers a female-friendly format that evokes the peaceful feeling of a spa.
"Soothe the soul and mend the body" is one of the messages in the stores, which feature lavender color schemes. "Any woman will tell you lavender stands for relaxation and a calming sense," Post said.
She also reviewed the retail display materials she has created for Restonic. The look features hot retro colors on color-coded headboards with oversized lifestyle graphics.
Post challenged retailers to look for "one big idea" to invigorate their businesses. One new idea that she suggested is kiosks in malls. Retailers could use the Restonic model to set up such kiosks, she said. "This is a huge opportunity for all of us in this room," Post said, noting that kiosks can sell more than just jewelry and cell phones.
Malls are always looking for new types of kiosk offerings, she added. The kiosks could offer $50 coupons to consumers who visit the brick-and-mortar stores and try out the larger selection of beds there.
