There is a trend on the rise in the retail industry that small businesses with physical stores should be aware of.
More and more retailers are moving beyond the traditional store shopping experience, aiming to create what they are calling “third places”. More than a place for commerce, third places are destinations away from home and work where like-minded people can hang out and make connections.
Third places are best illustrated with examples:
Lululemon’s yoga studio. In the early 2000s, Lululemon began building yoga studios inside each store and offering free classes.
Nike’s free trainer-led group workouts. More recently, Nike, in effort to compete with Lululemon, launched fitness clubs in select retail locations.
State Farm’s Next Door space. A coffee shop, hangout, and temporary workspace that hosts free business-building and investing seminars.
Warby Parker’s free portraits. Shoppers try on frames then have a free photo shoot with a professional photographer (a lot more entertaining than taking a selfie, right?).
Tom’s cafe. Shoppers can grab Tom’s branded coffee at the in-store cafe and lounge while surfing the net on free Wi-Fi. Tom’s coffee helps create clean-water projects in Africa, making Tom’s an ideal hangout destination for those who desire to give back.
Tom’s community space. Tom’s has also launched two community spaces, one in L.A. and one in Austin, that offer programming such as yoga sessions, fun runs, and entrepreneur nights.
Shinola’s local events. The Detroit-based watchmaker hosts three to five events at their locations per month including movie screenings, beer tastings, letterpress workshops, and wreath decorating parties led by local florists.
It’s ultimately about driving store traffic and increasing sales, but for some of the smaller companies it’s also about keeping the store active, becoming a brand people know, and supporting other local businesses. It’s a trend 2015 will see continue to grow.
Are these places you would not just shop, but also hang out?
How can your store benefit from becoming a third place?
Third party places are a great idea in my opinion since they increase the brands names. Some of the people which are sitting and having a coffee and a chat will tell to their closest ones(friends/family) about where they went, and if they had a good experience others will go too.