VMSD - September 2017 - T14

KEY TAKE AWAYS AND RECOMMENDATIONS
The key to success is to align store redesign goals and
objectives with larger client strategic objectives, com-
pany culture, consumer expectations and empowered
resources. In addition, the research showed that strategic,
differentiated, in-store brand positioning with clear goals
provide an ironclad framework for success. Creating
a relevant space that truly engages with the customer
while elevating and building memorable in-store experi-
ences, will set the retailer apart from the competition.
The factors influencing ROI on store design are multi-
faceted. There are tangible and intangible gains, measured
through traditional and non-traditional metrics, supported
by objective and subjective goals. The more holistic the
approach, the more lucrative the results. Success is depen-
dent upon the scope you are willing to embrace, the clarity
of the goals identified and the steadfast commitment to
achieve articulated objectives.

STORE REDESIGN
It is extremely important to outline and understand the
metrics for success and outcomes based on the impact to
staff, customers, and sales, as well as project costs. Often
overlooked in the analysis is the employee whose produc-
tivity and customer interactions are also impacted by store
design. Any challenges faced by store staff can ripple to the
customer experience. Service interactions are a critical part
of the store experience that must also be "designed." Thus,
staff should understand the impact to their operations
with the new concept early on, be provided training and
support to manage through any changes, and given the
other tools to help them deliver the full sensory experience
for shoppers.

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MOTIVATING FACTORS
Designers and manufacturers need to better understand
retailer motivations and budgets for a store redesign to
help meet their core objectives. Clients typically come
with a budget number in mind and some ideas on what
they'd like to see. Be able to read the client as quickly as
possible to determine if the budget or the ideas are what
is motivating them - if it's budget, then set expectations
early on if their inspiration is not in-line with what they can
afford; if it's inspiration, then push to create something that
will meet their expectations and not disappoint/restrict
based on costs.

KEY SUCCESS METRICS
In this ever-changing landscape, ROI has become a con-
tinuous process rather than an annual one. The evaluation
process itself needs to be more fluid and more focused to
ensure it continues to advance the organization toward
its vision and goals. These mid-course corrections also
include more frequent competitive reviews. Those who
aren't keeping an eye on the industry changes and the
competition will be leapfrogged. We have seen the recent
flurry of downsizing and store closures and wonder what
metric were, or were not, measured.

2017 Shop! ROI Standards: Store Redesign
Table of Contents for the Digital Edition of VMSD - September 2017
