Myer's Announces a New Floor Plan to Cater to Bargain Shoppers
Ellen Smith — September 14, 2017 — Business
Myer, an Australian-based discount store chain has recently announced its plans to launch an innovative in-store format that makes discount shopping even more accessible.
The store, which offers large discounts, year-round has been trialing a new layout in Melbourne, which dedicates an entire floor to heavily discounted designer clothing, which includes brand names like Calvin Klein, Jack Jones, French Connection and Levis. While the store has always had clearance sales, the new layout, which amalgamates the sales into one area, effectively reduces "underperforming floor space while helping clear the way for new season stock."
Competing department stores such as Nordstorm and TK Maxx have effectively adopted this floor plan, which increases consumer loyalty, while building brand awareness.
The store, which offers large discounts, year-round has been trialing a new layout in Melbourne, which dedicates an entire floor to heavily discounted designer clothing, which includes brand names like Calvin Klein, Jack Jones, French Connection and Levis. While the store has always had clearance sales, the new layout, which amalgamates the sales into one area, effectively reduces "underperforming floor space while helping clear the way for new season stock."
Competing department stores such as Nordstorm and TK Maxx have effectively adopted this floor plan, which increases consumer loyalty, while building brand awareness.
Trend Themes
1. Discount Store Floor Plans - The trend of discount stores dedicating entire floors to heavily discounted designer clothing creates a more accessible and appealing shopping experience.
2. Amalgamating Clearance Sales - The trend of consolidating clearance sales into one area reduces underperforming floor space and makes way for new season stock.
3. Enhanced Consumer Loyalty - The trend of adopting innovative store formats that offer large discounts year-round increases consumer loyalty and builds brand awareness.
Industry Implications
1. Department Stores - Department stores can adopt the innovative floor plan trend to attract bargain shoppers and boost sales.
2. Fashion Retail - Fashion retailers can consolidate clearance sales into one area to optimize floor space and improve stock turnover.
3. Consumer Goods - Companies in the consumer goods industry can implement discount store floor plans to increase consumer loyalty and enhance brand recognition.
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