Kohl’s Corporation, one of the nation’s leading department stores, recently announced plans to open smaller-format stores in the near future. These smaller stores are described as “an evolved physical store experience,” and will be half the size of a typical Kohl’s department store. This strategic retail decision is intended to increase the store’s revenue and reach more customers. Shoppers everywhere are eager to learn more about this new store concept. Below is a comprehensive guide to everything you need to know about Kohl’s smaller stores.
Kohl’s Plan to Open Smaller Stores
Kohl’s department stores are well-known for providing shoppers with quality clothing, shoes, home products and more at great values. Kohl’s plans to open smaller stores that are about one-third to one-half of their traditional stores. Kohl’s CEO, Michelle Gass, explains, “The smaller format stores are an exciting evolution for our Kohl’s brand. We recognize that shoppers are increasingly busy and should have access to an easy, convenient shopping experience.”
When Will the Smaller Stores Open?
Kohl’s smaller stores are expected to be rolled out in late 2019 and early 2020. This will be done gradually, with locations chosen based on evaluations that assess factors such as population density, local competition, and existing Kohl’s stores in the region. The first and second of these smaller stores are expected to open in fall 2019.
What Can Customers Expect?
The new stores will focus on convenient and fulfilling shopping experiences. They will have updated layouts and feature a curated product selection that appeals to the local area’s shoppers. Customers coming to the smaller stores can expect to find the same quality Kohl’s products as in their full-size stores, just with a much smaller selection.
Advantages of Having Smaller Stores
Having smaller stores will give Kohl’s more visibility in smaller markets. It will offer convenience to customers looking to shop quickly, and will give the company valuable insight to better serve local markets. The smaller storefronts could lead to higher sales per square foot than in full-size stores, with items being clearly marked at every price point. Since the product selection in the smaller stores will be much more focused, customers will be able to find what they need more quickly and easily.
Which City Will Have the First Smaller Store?
The first two smaller format stores are set to open in the fall of 2019, with the first store being located in the city of LaGrange, Georgia. LaGrange is one of the first cities to experience the new Kohl’s store format.
What Products Will Be Available in the Smaller Stores?
Kohl’s smaller stores will feature an edited selection of products from the traditional store’s assortment, as well as exclusive product designed for the smaller stores. The stores will have sections dedicated to apparel and soft home goods such as pillows, blankets and throws. There will also be some hard home goods such as cookware and cleaners, with a few furniture pieces available. Customers may find products from Kohl’s exclusive brands, such as the contemporary line Amanzi by LC, in addition to other brands like Dickies and New Balance.
Kohl’s Can Save Money on Costs with Smaller Stores
Establishing and running smaller stores will help Kohl’s save money in the long run. The company won’t have to expend as much money on rent, utilities, staffing and other overhead costs; having smaller stores will also reduce inventory needs and minimize the amount of excess inventory that the company may face. This could help the company increase their profit margins and strengthen their financial health.
Kohl’s Will Leverage Technology for Shopping Experience
The smaller stores are planned to offer customers a modernized and “digitized” shopping experience. Kohl’s customers can expect to see technology that helps to provide a more personalized experience, such as enhanced digital displays showing different products and discounts. The stores may also implement touchscreen kiosks that offer more product information to shoppers. To make the shopping process even more convenient, the stores are expected to offer curbside pick-up.
Kohl’s Corporation is taking a big step in the right direction with their new smaller store concept. By opening smaller stores in convenient locations, customers will have access to the same quality Kohl’s products in a more efficient and modernized shopping experience. Customers will be able to find what they need quickly and geographically expand their reach, while the company can benefit from saving money on overhead costs. This major change in retail is exciting news for shoppers and business owners alike, so keep an eye out for the first two stores opening this fall in LaGrange, Georgia!