Daily Newsletter

25 September 2023

Daily Newsletter

25 September 2023

New Balance launches ‘people-focused’ store in London Stratford

Designed around central seating gestures, the store aims to encourage customers to convene and draw inspiration from each other.

Claire Jenns September 25 2023

New Balance has opened the doors to its latest retail store, located at Westfield Stratford City in London.

The store features a retail concept built to put people, not products, at the centre of the consumer experience.

The concept includes an edited assortment of merchandise as well as visual storytelling to accompany select products, highlighting the makers and origins behind them.

The London Stratford store is reportedly the first of its kind globally with a second store of the same concept opening in Boston, Massachusetts in 2023.

New Balance senior director of global brand strategy and operations Ian Fitzpatrick commented: “This store in London represents a big step forward in the way we think about our retail environment, featuring a much tighter, more focused collection built specifically for the younger consumer.”

In targeting younger consumers, the company recently entered into a partnership with actress and producer, Storm Reid, to launch her signature sneaker, the CT302.

New Balance’s consumer-focused experiential retail strategy is part of a wider shift in the industry. The preference for an in-store experience remains for many consumers and retailers are working to keep them shopping in brick-and-mortar stores.

The company will be looking to repeat the success it has experienced online to its stores, as April 2023 saw interest in the brand reach an all-time high according to Google trends.

Traditional AI is here to stay in the retail and apparel space

Initially, retailers used AI for basic tasks, including inventory management and demand forecasting. However, its usage has now become more prevalent in other aspects such as personalized marketing, customer service, pricing optimization, and supply chain management. With the rise of ecommerce and the increasing importance of data-driven decision-making, AI adoption in retail and apparel has accelerated. The industry now relies on AI to enhance the shopping experience, optimize business operations, and gain an overall competitive edge.

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