Last week, you may have read a story in Media Post Marketing Daily about Walmart’s plan to introduced smaller stores. (If you missed it, click here to see it.) Well, this morning, we were reminded that earlier this year, Target also announced a smaller-format store initiative, according to another story from Marketing Daily (click here to read the story).
Implications: When people had more money than time, superstores were a great idea… and there will always be a segment of the population that is drawn to the large selection of discount and big-box stores. But in an era where people are as cautious with their money as they are with their time, the smaller format stores just make sense.
Picture a consumer that’s thinking, “I only need a couple of things, not forty aisles of impulse purchasing temptation.” Or a consumer that’s working harder than ever to earn that paycheck: “I’m too tired to walk through a coliseum… I just want to grab a couple of things at a reasonably-sized store.”
These issues, plus the fact that small stores can fit into urban areas and small towns where supercenters don’t make sense… might just lead one to believe these folks are listening to their customers.
Mike Anderson
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