There is a new chain-store trend happening and Kohl’s is one of the retailers leading the charge. In a recent story in ModernRetail, Maria Monteros reports that retailers are getting in touch with their local community to better enhance the experience of their shoppers. Monteros wrote, “Retailers are beginning to roll out plans to curate each of their stores based on the neighborhoods that they are in. And Kohl’s said at its Investor Day last March that it plans to use data science to accelerate localization to its entire store fleet in the next two years.” Monteros explains some retailers are moving away from their cookie-cutter approach and said, “It points to a new chain-store trend: some retailers are starting to ditch the standardized approach to physical stores. By tailoring each store to the surrounding community, experts said that it allows retailers to increase their relevance within the local community and possibly gain a competitive advantage over other retailers in the area.”
Monteros cites data from the U.S. Census Bureau which estimates sales from e-commerce in the 3rd quarter of 2022 was just 14.8% of total sales for the quarter. This means it’s critical for retailers to refine their physical store formats to increase sales and customer loyalty.
Monteros added, “Similarly, Kohl’s also plans to consider the lifestyle of community members as it implements its growth plans. Earlier last month, Kohl’s introduced an experimental small-format store in Tacoma, Washington. The store has a strong focus on outdoor gear, which matches the activities the locals tend to enjoy.”
Click here to read the full story: Kohl’s using internal data to “localize” stores