Customer Experience Is ‘Oh So’ Important For SoHo Retailers
With new digital shopping apps and even more competition, the customer experience is changing exponentially and retailers need to keep up.
In a PwC presentation earlier this year, there are currently three shopping districts in NYC: Fifth Avenue, SoHo and the Upper East Side. By 2018, the number of retail outlets in NYC will double adding Financial District, Hudson Yards and Columbus Circle/57th Street to the mix. All six of these shopping districts will be home to exactly the same retail flagships.
SoHo is already being squeezed on the revenue side with same-store sales down two years in a row, and declining international exchange rates. What will SoHo’s retail future as a shopping district look like by 2018?
The reasons “why” people come to SoHo are going to change drastically…
- Why shop at the VINCE SoHo location with additional VINCE locations opening in the new Hudson Yards and Columbus Circle centers?
- Why shop in SoHo on a rainy or snowy day, when you can go to Brookfield Place in FiDi to shop without stepping foot outside?
For the SoHo neighborhood to continue to be a retail destination, retail brands need to focus on defining a unique customer experience here. Retail flagships need to be looking for more innovative ways to target not only the local clientele but out-of-towners by enriching shopping experiences with a taste of the cultural landscape.
I have several ideas for developing customer experience programs unique to retail flagships in SoHo and would love to work with corporate retailers and their local teams here in SoHo!
Some examples include utilizing the architecturally and historically rich past, bringing in speakers on relevant topics and creating partnerships with other like-minded companies in the neighborhood — discount shopping events just don’t cut it anymore!