Making Things Story featured merchandise, activities and special events all connected to the central theme of innovation and creativity. On the retail side, the store was stocked with a diverse retail mix ranging from books and art to jewelry and fashion that all relate to making things. The Making Things Story featured items ranging from a make-your-own chewing gum kit to a seamless dress made by fashion designer Natalia Allen that features technology that Allen developed. Most themes carry about 1,000 different SKUs accounting for different sizes and colors. Merchandise that is either defective or has a quality issue may be returned for full credit or refund within sixty days. Store credit is issued for the return of merchandise purchased within the same “Story” and a minimum of 14 days before the end of that Story. Otherwise, all purchases are final. The store featured four different retail experiences or
stations to go with its theme including a MakerBot 3-D printing machine, a laser cutter, injection molding machine and a die cast mill. During the month that it was open, Making Things Story hosted more than 40 special events. For example, fashion designer Rebecca Minkoff gave a demonstration on laser-cutting a handbag, while designer Pamela Love replicated some of her jewelry pieces using the 3-D printer, a process that makes solid objects based on a digital model.
Keeping it fresh Certainly, creating a new store from scratch from the theme down to the stock is a challenge. Typically, Story closes
between four and 14 days while it transitions to the new theme and inventory. Shechtman and her staff even cover the windows so that when the next Story opens it creates a sense of fun and excitement.
Completely changing a store’s content remains a rare
concept in the retail world. So far, that dynamic is proving to be a hit with both brands and customers. “Our goal when we opened was to be profitable within the first year, and we are going to hit that goal,” says Shechtman. Although she declined to share specific revenue numbers, foot traffic at the stores on Saturdays typically range between 1,000 and 2,500 visitors depending on the time of year. That initial success has prompted Shechtman to plan for a second Manhattan location, which she expects to open this year. Shechtman has been inspired in part by the non-stop innovation in technology and digital media where things are changing minute-to-minute. Despite growing competition from online sales, the traditional retail model of selling goods from a brick-and-mortar store has changed very little. “I only have two rules in creating a Story. One is that anyone
from a 7- to a 70-year-old should be able to have an experience, and that we should be able to sell a product that is either $5 or $5,000,” Shechtman says.
Beth Mattson-Teig is a freelance business writer based in Minneapolis, MN. She specializes in covering the national commercial real estate industry.
For more images from each Story, check out our extended version online at
specialtyretail.com. Winter 2013 n Specialty Retail Report
SpecialtyRetail.com
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