How often should you remodel, refresh or rebrand you store?
Q: "How often should a retail store redecorate, refresh, or rebrand their store?"
A: Those are very different things. Rebrand means I'm changing the name, the whole feel of it. I would be careful about that. Many times retailers think the name is the reason they aren't busy. I've never found that to be so. Just because you are tired of it, doesn't mean it doesn't have value.
Remodel or refresh is to keep the concept but update the look. South Coast Plaza where I received the highest increase of sales, the number one mall in the world, required you to rebuild down to the studs every five years. And if your sales weren't high enough, they moved you down into a wing that wasn't making as much money.
They know that customers go to a mall or a store to answer one question, What's new?
If I had my druthers, I would have you change your windows every week. But it's a lot of work to do it right. It's a lot of work. In my book, The Retail Doctor's Guide To Growing Your Business, I share a story about being in Hawaii. I was at the Royal Hawaiian Village in Honolulu. There was a swimsuit store there.
It was a beautiful little store with four windows. Glass that looked out on all the main walkways. People have to go from the beach to the rooms. As a retailer, I would think, Wow, this would be an amazing site.
In the week I was there, they had the same exact windows with the exact same bathing suit.
And I thought, 'What a big waste.' Because passersby have seen it, they walk past it.
The chances of that store getting more sales by just changing it out every day would have been huge. But I can hear the manager, that's a lot of work and, you know, that bathing suit sells well enough and all that kind of stuff, so don't do it.
Refreshing a brand can be as simple as a new counter or painting one wall to as complex as ripping the store down to the studs and moving walls. The key is to always be looking at how to present your merchandise in a new light. You never want customers to know exactly where everything is or you'll miss out on the add-on and additional sales.