What is different about selling your brand in a multi-brand, brick and mortar store? Is this a good idea for a direct-to-consumer brand that wants to add a brick and mortar option for customers? How does it work?
Today’s guest is Matt Alexander, the co-founder and CEO of Neighborhood Goods, a department store that sells a variety of different brands that fit the store’s guidelines and meet their customers’ needs. In today’s episode, you’ll learn about what led Matt to create a department store and how it works for brands.
Listen in to hear Matt talk about changes to the department store model, why a brick and mortar aspect is important for a brand, and how brands can build a better experience within a department store setting.
Topics Discussed in Today’s Episode:
✔ What Neighborhood Goods sells and how they work
✔ How Matt started Neighborhood Goods
✔ Use cases for brands that work with Matt
✔ Why Matt thinks the department store model needs to change
✔ Why online retailers are adding brick and mortar concepts to their strategies
✔ Helping brands build experiences within the locations
✔ The formula that makes brands successful in multi-brand stores
✔ Matt’s advice for brands or people trying to get started in brick and mortar
Resources:
QUOTES:
“We’ve avoided enclosed malls and really gravitated much more toward freestanding street-level locations, largely in mixed-use developments.”
“Direct to consumer is really just a title in name only, it’s really just about building a brand.”
“The critical thing for us, I think, is seeing our spaces, is an opportunity to contextualize and socialize these brands and products.”
“I think there is real opportunity to compete and create something Incredibly lasting and sustainable when you’re talking about discovery and some aspects of utility that come with it.”
“I think the critical thing for us is that we sort of exist in this limbo between established and existing stores.”