Evolution of college store revenue model v3
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The document discusses strategies for the evolution of college stores to better meet student needs and preferences in order to gain a larger share of the campus market. It outlines tactics for college stores to gather student input on desired merchandise, create engaging store environments, differentiate their offerings through innovative merchandising approaches, and build loyalty programs to strengthen their value proposition on campus. Case studies of successful stores that have implemented these strategies are also presented.
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Evolution of college store revenue model v3
- 2. College Store 1.0: Store provided textbooks staff thought students need ed College Store 2.0: Store provided textbooks, general merchandise, and tech produst that staff thought they needed and saw in other stores
- 4. CASE STUDY: The Shark Eating Your Lunch
- 7. CASE STUDY: FLAX Store New Revenue Model
- 10. Cheap Existing Storage Hardware in unusal shapes, mixed w/ video
- 11. Try different merchandise to find new large volume winners. These desks had bad sales
- 12. New unexpected winner: Paper! Same display racks reset w/ paper
- 13. Paper area just kept growing. Videos taken out for more paper (tech isn’t always the answer)
- 14. CASE STUDY: SFSU College Store’s Plan for Convenience Store New Revenue Model
- 15. Existing dull store, ugly checkstand & displays in student center w/ lots of competing food vendors
- 16. New store w/ some unknown and some student suggested merchandise. Eye catching bright paint, cheap awning, display lights, flooring
- 18. College Bookstore 3.0 To collect data, and for merch ideas: Use Multichannel Feedback Student surveys: What merchandise do you want to see and buy? In store screens: What merchandise? How’s service? College store website easy symbol rating systems Social media monitoring of comments on college store
- 19. Empower customer merchandising: online idea books on college store website
- 20. Empower customer merchandising: curation tools on college store website for endless aisle linking
- 21. College Bookstore 3.0 Create dramatic focal points to try new merchandise College Stores are really Department Stores Use store planning, design, and merchandising to create focal points that lead to customer merchandise discovery
- 22. Plan the floor for displays, also for fun, also intimacy contrasted for openness to explore
- 23. College Bookstore 3.0 Use cheap multipurpose fixtures
- 24. High Cheap Plywood Fixtures
- 28. Grafitti graphics for pop-up store backdrops
- 29. 1. PERSONALIZATION: Print caps, t- shirts on college store copy equipment 2. COMMUNAL CONSUMPTION: Give campus organizations their own store web order page 3. MOBILE LIFESTYLE (Target merch): backpack fashions, dorm rm décor, storage 4. SHABBY CHIC FIXTURING 5. INFO RICH STORE ENVIRONMENT College Bookstore 3.0 Innovate to Differentiate Merchandising Trends
- 30. 1. Floor merchandise/circulation plan 2. Sign systems: directory, area and section signs 3. 4 screens: cinema, desk, tablet, cell 4. QR signs and placement policy Innovate to Differentiate Merchandising Trends Info Rich Store Environment Organize by user mind maps, tell stories, Teach/research products
- 31. QR signs can provide product info and can clutter: Need control w/ height/location placement policy to enforce vendor QR displays
- 37. CASE STUDY: COOP Stores Redone stores, but didn’t address key complaints: long lines, high prices
- 38. Good free retail publication