Lots of retailers have been closing their flagship stores — here’s why
Peck's comments were evidence that, in many cases, flagships stores have become indistinguishable from a retailer's typical store. This means that having a large store in the most expensive part of town, offering the same experience as any other store, might no longer make sense.Traditionally, the flagship store has been a way to promote a brand's image and tell its story, more about marketing and branding rather than sales.
"New generations of consumers do a lot of product discovery online or via social media. This means expensive flagships are less relevant than they once were," Neil Saunders, managing director of GlobalData Retail, wrote in an email to Business Insider. Flagship stores that are simply larger versions of standard stores are unlikely to have a place in the future of retail.
Pierson said flagship stores need something extra to make it relevant,"a different or unique experience that strikes a chord."Digitally native retailers such as Bonobos, Glossier, Everlane, and Casper are paving the way with innovative new store concepts. These brands have the luxury of making a fresh entrance into brick-and-mortar retail and are able to trial new concepts.
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