Staff writer for Fast Company, Liz Segran, met with graduate students at the Fashion Institute of Technology to ask them what they think is going to happen to retail stores. In the beginning, Skylar Yoo will be strictly an online store but I plan on selling the shirts to big department stores as well as (possibly) on Amazon. In the future future, I’d love to have brick-and-morter stores but ones that are totally unconventional. I want people to come to the stores to see incredible, cutting-edge art on the walls, I want one-of-a-kind art installations where people can interact with art, and I want a DJ to be playing some jammin tunes. In this day and age, don’t we or shouldn’t we expect more from a retail store?
Here’s what the graduate students said:
“Department stores must think of themselves as entertainment centers: In Korea, some malls are more like amusement parks, complete with rides and art installations. Some brands should become landlords, leasing out part of their space to smaller startups, which will give customers a reason to stop by the store to see what’s new. For other brands, turning unproductive retail spaces into local distribution centers might be a good idea, since it might allow them to get products to customers within hours at lower shipping costs.”
Will the industry adapt and change? All I know for sure is that we’re living in a fascinating time for fashion.