College Store 1.0:  Store provided textbooks staff thought students need ed College Store 2.0:  Store provided textbooks, ...
The next Stage of Evolution: College Store 3.0 <ul><li>A NEW BUSINESS MODEL: Students tell the store by multichannel feedb...
CASE STUDY:  The Shark Eating Your Lunch
<ul><li>“ Shadowing the lives and activities of a few dozen teenagers preparing for college, …Target uncovered the deep, u...
Study Target’s Methods <ul><li>Merchandising for college students </li></ul><ul><li>Displays for college students </li></u...
CASE STUDY:  FLAX Store New Revenue Model
CASE STUDY:  FLAX Store’s Plan to Regain Lost Revenue w/ new merchandise:  Goals  <ul><li>Reattract customer, increase vis...
FLAX Strategies For Goals <ul><li>Collect ideas & hard data (their catalog sales) for new appealing merchandise. </li></ul...
Cheap Existing Storage Hardware in unusal shapes, mixed w/ video
Try different merchandise to find new large volume winners.  These desks had bad sales
New unexpected winner: Paper!  Same display racks reset w/ paper
Paper area just kept growing. Videos taken out for more paper (tech isn’t always the answer)
CASE STUDY:  SFSU College Store’s Plan  for Convenience Store New Revenue Model
Existing dull store, ugly checkstand & displays in student center w/ lots of competing food vendors
New store w/ some unknown and some student suggested merchandise. Eye catching bright paint, cheap awning, display lights,...
Healthy U Tactics <ul><li>Collect data for merch ideas: Store GM’S retail mgmt class survey: want healthy food </li></ul><...
College Bookstore 3.0 To collect data, and for merch ideas: Use Multichannel Feedback Student surveys:  What merchandise d...
Empower customer merchandising: online idea books  on college store website
Empower customer merchandising: curation tools  on college store website for endless aisle linking
College Bookstore 3.0 Create dramatic focal points to try new merchandise College Stores are really Department Stores  Use...
Plan the floor for displays, also for fun, also intimacy contrasted for openness to explore
College Bookstore 3.0 Use cheap multipurpose fixtures
High Cheap Plywood Fixtures
Low Cheap Plywood Fixtures  <ul><li>Simple wood frames draw attention to special books </li></ul>
Cheap Plastic Fixtures
Cheap Fencing Fixtures
Grafitti graphics for pop-up store backdrops
1. PERSONALIZATION: Print caps, t-  shirts on college store copy equipment 2. COMMUNAL CONSUMPTION: Give campus organizati...
1. Floor merchandise/circulation plan 2. Sign systems: directory, area and    section signs 3. 4 screens: cinema, desk, ta...
QR signs can provide product info and can clutter: Need control w/ height/location placement policy to enforce vendor QR d...
College Bookstore 3.0 Strategies “ Growing share of campus life must be a top priority ”  NACS:  Defining the College Stor...
Merchandise for 5 different   emotional engagement modes:  <ul><li>Mission mode: time value, provide quick access (help by...
Merchandise to excite engagement <ul><li>Merchantainment: To promote store,  create big compelling spectacles  e.g. instor...
Build the Value Chain for loyalty <ul><li>Always promote valued benefits to the customers on a store central signboard, on...
CASE STUDY San Francsico State U.  College Store Values <ul><li>Ensure customer satisfaction remains our most important pr...
CASE STUDY: COOP Stores Redone stores, but didn’t address key  complaints: long lines, high prices
Good free retail publication
Please email me your feedback and ideas <ul><li>I need your feedback to better know what you want to know: </li></ul><ul><...
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Evolution of college store revenue model v3

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A review of college store business model, merchandising strategies, and shopper behavior along with case studies to increase revenue

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Evolution of college store revenue model v3

  1. 2. College Store 1.0: Store provided textbooks staff thought students need ed College Store 2.0: Store provided textbooks, general merchandise, and tech produst that staff thought they needed and saw in other stores
  2. 3. The next Stage of Evolution: College Store 3.0 <ul><li>A NEW BUSINESS MODEL: Students tell the store by multichannel feedback what merchandise should be provided from the “endless aisle” they can find online; also the store must provide a chain of value benefits online can’t </li></ul>
  3. 4. CASE STUDY: The Shark Eating Your Lunch
  4. 5. <ul><li>“ Shadowing the lives and activities of a few dozen teenagers preparing for college, …Target uncovered the deep, unmet needs of this group…they didn’t have a clear story about what their lives would be like away from home, and their parents’ were no help or reassurance…Target was …to create a new line of products and services that would help new students—and their parents—imagine a positive experience in college.” </li></ul><ul><li>JUMP Consultants </li></ul>Target Gaining 10%+ College Student Market Share
  5. 6. Study Target’s Methods <ul><li>Merchandising for college students </li></ul><ul><li>Displays for college students </li></ul><ul><li>Marketing for for college students </li></ul>
  6. 7. CASE STUDY: FLAX Store New Revenue Model
  7. 8. CASE STUDY: FLAX Store’s Plan to Regain Lost Revenue w/ new merchandise: Goals <ul><li>Reattract customer, increase visits and increase their purchases </li></ul><ul><li>Upgrade the customer experience: attract w/ appealing store design, stimulate spending w/ appealing merch., & stimulate spending w/ staff new products knowledge </li></ul><ul><li>Renovate store design on tight budget </li></ul><ul><li>Differentiate from competitors of computers, other designer item stores </li></ul>
  8. 9. FLAX Strategies For Goals <ul><li>Collect ideas & hard data (their catalog sales) for new appealing merchandise. </li></ul><ul><li>Create appealing dramatic focal points in store design to try untested merchandise </li></ul><ul><li>Use cheap new multipurpose fixtures for yet unknown merchandise; Reuse and refinish existing fixtures </li></ul><ul><li>Train staff in new merch: buying, display, product use </li></ul><ul><li>Innovate to differentiate: crazy merch lines (boxes), new tech (video) </li></ul>
  9. 10. Cheap Existing Storage Hardware in unusal shapes, mixed w/ video
  10. 11. Try different merchandise to find new large volume winners. These desks had bad sales
  11. 12. New unexpected winner: Paper! Same display racks reset w/ paper
  12. 13. Paper area just kept growing. Videos taken out for more paper (tech isn’t always the answer)
  13. 14. CASE STUDY: SFSU College Store’s Plan for Convenience Store New Revenue Model
  14. 15. Existing dull store, ugly checkstand & displays in student center w/ lots of competing food vendors
  15. 16. New store w/ some unknown and some student suggested merchandise. Eye catching bright paint, cheap awning, display lights, flooring
  16. 17. Healthy U Tactics <ul><li>Collect data for merch ideas: Store GM’S retail mgmt class survey: want healthy food </li></ul><ul><li>Create dramatic focal points to try new merchandise: yellow awning, lighting </li></ul><ul><li>Use cheap new multipurpose fixtures: metro shelving </li></ul><ul><li>Develop talent: new merch research & buying, new logo development </li></ul><ul><li>Innovate to differentiate: healthy food, floor cooler, lights, sustainable bamboo (green value) checkstand </li></ul>
  17. 18. College Bookstore 3.0 To collect data, and for merch ideas: Use Multichannel Feedback Student surveys: What merchandise do you want to see and buy? In store screens: What merchandise? How’s service? College store website easy symbol rating systems Social media monitoring of comments on college store
  18. 19. Empower customer merchandising: online idea books on college store website
  19. 20. Empower customer merchandising: curation tools on college store website for endless aisle linking
  20. 21. College Bookstore 3.0 Create dramatic focal points to try new merchandise College Stores are really Department Stores Use store planning, design, and merchandising to create focal points that lead to customer merchandise discovery
  21. 22. Plan the floor for displays, also for fun, also intimacy contrasted for openness to explore
  22. 23. College Bookstore 3.0 Use cheap multipurpose fixtures
  23. 24. High Cheap Plywood Fixtures
  24. 25. Low Cheap Plywood Fixtures <ul><li>Simple wood frames draw attention to special books </li></ul>
  25. 26. Cheap Plastic Fixtures
  26. 27. Cheap Fencing Fixtures
  27. 28. Grafitti graphics for pop-up store backdrops
  28. 29. 1. PERSONALIZATION: Print caps, t- shirts on college store copy equipment 2. COMMUNAL CONSUMPTION: Give campus organizations their own store web order page 3. MOBILE LIFESTYLE (Target merch): backpack fashions, dorm rm décor, storage 4. SHABBY CHIC FIXTURING 5. INFO RICH STORE ENVIRONMENT College Bookstore 3.0 Innovate to Differentiate Merchandising Trends
  29. 30. 1. Floor merchandise/circulation plan 2. Sign systems: directory, area and section signs 3. 4 screens: cinema, desk, tablet, cell 4. QR signs and placement policy Innovate to Differentiate Merchandising Trends Info Rich Store Environment Organize by user mind maps, tell stories, Teach/research products
  30. 31. QR signs can provide product info and can clutter: Need control w/ height/location placement policy to enforce vendor QR displays
  31. 32. College Bookstore 3.0 Strategies “ Growing share of campus life must be a top priority ” NACS: Defining the College Store of 2015 <ul><li>Grow the share by engagement and loyalty </li></ul>
  32. 33. Merchandise for 5 different emotional engagement modes: <ul><li>Mission mode: time value, provide quick access (help by sign system) </li></ul><ul><li>Restock mode: for commodities, so display collaterals for more purchases </li></ul><ul><li>Background mode: shopping w/ friends: semi-intimate spaces </li></ul><ul><li>Celebration mode: open to new merch ideas; special events, e.g. after finals: </li></ul><ul><li>Beyond the store mode: Connect to the world: screens for endless aisle access </li></ul>
  33. 34. Merchandise to excite engagement <ul><li>Merchantainment: To promote store, create big compelling spectacles e.g. instore concerts; To promote merch, mini spectacles, e.g. use vendor labor/visuals/drama </li></ul><ul><li>Provide tactility: to test and feel things, and learning how to use products ( electronic playground) </li></ul>
  34. 35. Build the Value Chain for loyalty <ul><li>Always promote valued benefits to the customers on a store central signboard, on website, on all marketing materials </li></ul><ul><li>Build the value chain to build loyalty and visit frequency: value of customer service, value of seeing their requested products, “giving back to the school”policy </li></ul>
  35. 36. CASE STUDY San Francsico State U. College Store Values <ul><li>Ensure customer satisfaction remains our most important priority at all times; </li></ul><ul><li>Engage in ethical, transparent, fair business practices; </li></ul><ul><li>Care about the wellness and success of our University community; </li></ul><ul><li>Promote the sale of products and services that are healthy and sustainable; </li></ul><ul><li>Create a work environment that rewards success and nurtures professional experience; and </li></ul><ul><li>Focus on innovation and create value and convenience for our University community. </li></ul><ul><li>Give Back to the University community through student loyalty rebates and profit contributions to the University </li></ul>
  36. 37. CASE STUDY: COOP Stores Redone stores, but didn’t address key complaints: long lines, high prices
  37. 38. Good free retail publication
  38. 39. Please email me your feedback and ideas <ul><li>I need your feedback to better know what you want to know: </li></ul><ul><li>[email_address] </li></ul>

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