Q: With online competition from mega-retailers and Amazon.com, how have you had to adapt your business model to compete?
A: That is the question of the day. As a specialty retailer, we need to redouble our focus on being special. That primarily means we need to deliver a memorable in-store experience that cannot be replicated online, via our curated product assortment, expert staff and the overall vibe and ambiance of the space.
We are working to improve our website so that it better reflects our stores, and are looking to implement omnichannel components so that we can better meet the increasingly higher demands of the consumer.
Our sales were up in 2017 and our fundamental business model hasn’t changed, but we are ever conscious of the changing environment brought by technology. We think good retail that engages the senses and offers a place for community has a strong place against online sales. Meanwhile, the need to continually evolve is paramount.