- CVS/pharmacy officially unveils new myWeekly Ad digital circular
- Study: 1-in-5 store customers are 'connected'
- CEA forecasts personal health-and-wellness product market will reach $8 billion in sales by 2018
- Canada's Jean Coutu Group unveils e-store window for holiday season
- Nielsen survey: Price most persuasive when incentivizing brand switch; improved features least influential
NEW YORK — RadioShack on Saturday unveiled its first revamped store here at the corner of Broadway and 81st Street. The new prototype represents another revitalization of a store format engineered in part by Joe Magnacca, RadioShack CEO, who comes to the personal technology chain from Walgreens and Duane Reade.
"I am very excited about this store, which brings the essence of our new 'RadioShack: Let's Play' branding to the heart of Manhattan, and I also am thrilled about the support and very positive reactions of our neighbors," Magnacca said. "Our goal at RadioShack is to make our iconic brand relevant to new segments of the consumer market, while reinforcing our commitment to the strong and loyal base of customers who have known RadioShack for many years. We know that all of these consumers like technology when it makes their lives simpler, but they love technology when it make their lives fun."
The new store features newly configured displays highlighting in-demand brands like Apple, HTC and Samsung, as well as mobile carriers, such as AT&T and Verizon; store fixtures that enable shoppers to find and compare products, such as a Speaker Wall allowing customers to compare speakers by playing music from their own Bluetooth-enabled mobile devices; and interactive technology that helps create a sense of retail theater, such as touchscreens and apps that help shoppers understand the benefits of products.
Over the next several weeks, RadioShack plans to open a variety of different store configuration prototypes in the New York metropolitan area, as well as in New Jersey and Texas. The configurations will be customized based on locations, local buying patterns and neighborhood needs. Key learnings from each of the newly configured stores will serve as the foundation for future retrofits and remodeling of many of RadioShack's 4,300 stores throughout the United States.
"We have pre-tested with consumer panels a number of the concepts that are rolling out in the 2268 Broadway store, and we know that consumers are excited about them," Magnacca said. "But based on my nearly 30 years in retail I know that the proof of concept always comes when shoppers begin exploring the stores, and that the evolution of the shopping experience never ends. We will fine-tune the concepts people are seeing here today, and by making the experience a fun one for the consumer, with the right mix of products, placement and price, we expect to be able to build the trajectory of RadioShack's growth and profitability."