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What casual retailers can learn from Nationwide’s PrimeTime

What casual retailers can learn from Nationwide’s PrimeTime

Last week, I attended Nationwide Marketing Group’s PrimeTime event in Nashville, a buying show where hundreds of retailers and manufacturers gathered to network, share ideas via educational presentations and show new and exclusive product.

Working in both the mattress and casual industries, I love connecting ideas and concepts together between the two because there are many similarities between the industries.

There were two bedding-focused presentations that stood out, and I believe the casual industry can learn from what was taught.

The first event was focused on looking at retail through a different lens, and BedGear’s Director of Player Development Holly Adorno talked about various retail industries — from automobiles to designer purses — and how they make their stores unique to intrigue customers. 

Taking a 30,000-foot view, she started by talking about New York City’s most-visited tourist attraction, The High Line.

It was developed as a unique gathering place, and high-end retailers have moved into the area and offered distinct retail experiences that Adorno said we can learn from.

A few quick examples:

  • Genesis House offers an interactive experience with beautiful merchandising. However, nothing is sold at the store. It’s simply there to offer an experience. 
  • Starbuck’s Reserve Roastery shows consumers how the coffee is made and processed. It also sells coffee for $10 over the average price, but people buy it because of the experience.
  • Little Island is a defunct naval base turned community-themed tourist attraction, and it’s right behind The High Line in terms of popularity. 

These are just a few of Adorno’s examples, but one thing many of them have in common is that they are free experiences meant to put the brand at the top of the consumer’s mind while also telling an interesting story. 

“How do we translate all of this into our businesses?” Adorno asked. “Look to the next generation. The largest amount of money in history — $84 trillion — is about to be transferred to millennials and Gen Z. Think about how you can speak to that generation and get them in the front door.”

However, what really hit home for the casual industry was her next point: Consumers want things for free, so they only pay for things that are additive to their lives. 

For example, water is free to almost everyone in the U.S., but billions of dollars are spent each year on water bottles.

This is easily applied to the casual industry because being outdoors is free to everyone, but having nice and comfy furniture to enjoy it on is additive to the experience. 

“Get comfortable where you’re uncomfortable,” Adorno said. “Ask yourself how you can be additive every day and not be a ghost of the past. Three things you can start today are opening your mind, taking a new perspective on the in-store experience and holding yourself accountable for what you do.”

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Chris Taheny, senior vice president of sales for bedding and sheets producer DreamFit, gave a presentation about why retailers should focus on accessories. 

While he was talking about sheets, pillows and comforters, there are plenty of items on the outdoor side that are comparable in price — like decorative pillows, outdoor lighting, furniture covers, teak oil, etc. 

He offered a few ways retailers can get started:

  1. Assess your current program. Your program has to reflect the excitement you want for your store. A boring and cheap accessories section is not going to entice customers. But a clever display that allows customers to choose comfort type, colors and types of accessories will catch their attention.
  2. Who are you buying from? Tahney said that a company with a key focus on accessories is important to find. Buying out of convenience, or based on lowest price, margin or perceived extra value is not going to cut it. Plus, he adds that even with lower margins, if the goods sold are at a higher price, a retailer can end up making more profit.
  3. Is your retail presentation exciting for the sales associate? It’s much easier to sell something when you’re excited about it, so talk to your sales associates about what they’re selling, why it matters and how it will help the customer.

Regardless of how a retailer chooses to pivot after the assessment, Taheny said that increasing your focus on accessories can help retailers be successful.

Overall, Taheny said you want a program that yields the most profit and offers excitement provided by dedicated retail associates. He explains that if a retailer’s sales are down, focusing on accessories can not only make up for lost sales, but it can also incrementally make retailers more money year over year. 

As Adorno pointed out at the beginning of her presentation, sometimes the best way to think about our own industry is to look at what others are doing, and I think both of these presentations show that this can be beneficial.

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