Hardware Retailing

FEB 2018

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: https://hardwareretailing.epubxp.com/i/931868

Contents of this Issue

Navigation

Page 101 of 112

February 2018 | HARDWARE RETAILING 93 Getting Out of the Rut Even with a few construction challenges, Lau hasn't lost focus of his goal of establishing Caribou Jack's as a one-of-a-kind retail destination. "Trends are now suggesting that maybe buying things online isn't going to be the only path forward, especially with studies showing millennials want brick-and-mortar experiences," Lau says. "As retailers, we have to get out of our ruts and try new things: new merchandising, new types of events to get people to visit our stores. That's where I'm putting my money." Lau says he's drawing business inspiration from a surprising source: young adult clothing store Urban Outfitters. "They bought an upscale pizza chain," Lau explains. "When people asked why they bought it, they said it's the same demographic they already serve. By trying something new, they think they can create a deeper relationship with their customers, and I think that's absolutely true." Lau's original Reimagine Retail submission also included the creation of a Caribou Jack's smartphone app that would allow customers to book the restaurant for parties and community meetings. Lau says the construction phase has temporarily diverted his attention from the app, but he plans to return to it after the cafe opens. Lau says he hopes the winner of this year's Reimagine Retail will be ready to hit the ground running. "Hopefully whoever wins in 2018 is in the same boat I was," Lau says. "I hope it's someone who has a vision and a goal, but just hasn't found a way to get there." " Hopefully whoever wins in 2018 is in the same boat I was. I hope it's someone who has a vision and a goal, but just hasn't found a way to get there. " —Robert Lau, Caribou Jack's Lau says The Barn, a structure he built with a portion of his Reimagine Retail funds, will house inventory and free up space within Caribou Jack's for the forthcoming eatery. Lau will soon add signage and complete the front porch roof.

Articles in this issue

Archives of this issue

view archives of Hardware Retailing - FEB 2018