News about Lord and Taylor joining Wal-Mart.
Com sold it as a landmark location in New York to WeWork, which sparked nostalgia for the loss of a more magnificent commercial Cathedral.
But on the surface it looks like the surrender of luxury retail is likely to be the key to the department store's survival as a species and bring the often overlooked but beloved Lord and Taylor brands into the future, bigger and better than ever before.
Many of the comments I 've read suggest that working with Walmart and WeWork will lose luster if it doesn't completely erase the Lord and Taylor brands.
Pairing well-known luxury brands like Lord and Taylor with populist brands like Wal-Mart seems crazy and even a little sad for Lord and Taylor's loyal followers.
In the limestone area of Fifth Avenue, those corridors with stories are packed with movable walls and compartments, which seems unthinkable.
In fact, however, both of these initially Discordant steps are very much in line with the history of the Lord and Taylor brands, perhaps a brilliant re-start
Imagine what the traditions of God and Taylor will look like for future generations.
If the experiment is successful, it can pave the way for other department store giants to find a way to return to relevance in millennials
Business-driven markets, by reinterpreting their past grand traditions for the digital future.
Here are four ways to save the department store by the main & Taylor experiment: 1.
When Lord and Taylor are a luxury brand, it never targets the rich, but the upper middle class who is eager for wealth.
Lord and Taylor are the stores of those who have purchased the wealth and dreams of success represented by New York City, who have come from the suburbs to Lord and Taylor to work and shop as part of this vision
Today, the equally ambitious upper middle class is made up of entrepreneurs who are building their vision of the American dream on the temporary wall in a cubicle rented like WeWork. 2.
Where your customers live, work and have fun, Lord and Taylor know more about the importance of location than any other retail brand, and always go where customers lead them.
The upper middle class of New York City moved to residential areas at the beginning of the last century, as did Lord and Taylor;
From Catherine Street, to Grand Street, to Lady's Mile on 20 th Street, and finally to the current location on Fifth Avenue in 1914.
When the middle class moved to the suburbs, Lord and Taylor also moved to Manhattan, setting up "the first store ever" in Manhattan ".
The deal with WeWork allows Lord & Taylor to flip this model, bring their customers to them, turn their flagship in New York into a thriving work and entertainment center, while, by allowing customers to pick up and return goods at Wal-Mart stores across the country, they have expanded their footprint in the suburbs. 3.
Lord & Taylor has focused on logistics and technology from the very beginning to improve the customer experience.
They are the first store to offer door-to-door delivery, full automation and elevators. Their big idea?
Eliminate human balance from shopping and provide a seamless and consistent experience.
The alliance with the logistics company Wal-Mart simply interprets the modern brand pillar and once again relies on state-of-the-art technology to control quality and ease of use. 4.
Creating a fresh and shared retail experience lord & Taylor always understands that shopping is more than just shopping but moremedia event.
L & T is the first store to do pure Christmas window decoration, excluding anything sold in the store.
Their first installation was a pair of silver bells, which swung in time as the bell was recorded.
This is the holiday feeling of the season, making Lord and Taylor the destination of Christmas.
Advertising announcing its opening on Fifth Avenue in 1914 sparked public interest in the spectacle by describing their presentation as "like a realist theater, showing evening dresses in real night shadows.
Lord and Taylor created a new fresh, 20th-century retail experience shared across all social media platforms by inviting us to join their New York flagship, once again, through their expanded digital real estate, the image of the big city Lord and Taylor are eager to project to the suburbs.