ELEMIS’ Post

“Sell me this pen.” Whether you’re a Wall Street wolf or just striving to hit your targets in a #furniture #store, you’ll have some kind of response to Ziglar’s fundamental (if reductive) test of #salesmanship. #Selling is so integral to business that it’s baffling the discipline isn’t paid more attention. Lessons are handed down via various parties and resources, often along the lines of “this is how we’ve always done it”. Rarely do businesses take a structured approach – but when the #footfall isn’t forthcoming, guaranteeing better conversion rates and #margins is very much the name of the game for brick-and-mortar retailers. I’ve always been fascinated by the psychology of selling – so, ever since Furniture Sales Solutions emerged on the scene, I’ve enjoyed absorbing Adam Hankinson’s advice on how to overcome objections, find the upsell opportunities and close the deal.  Having run a regular column from Adam for some time, I thought I'd delve deeper into his methods by grilling a few of his ‘students’ in September's Furniture News, where you’ll find accounts from the likes of Caseys, Fairway and Gillies which spell out how Adam’s training regimen was deployed in their #stores, and how it has impacted the bottom line. That said, for #salespeople to win, the product needs to sing – and September is one of the best times of year to find it. In this issue, you’ll find #previews of Long Point, the Autumn Furniture Show and the Bed Show (see our Bed Buyer supplement at https://bit.ly/3YXANvk for the full exhibition lowdown), plus the second part of our Manchester Furniture Show coverage. Two of Sweden’s premier bedmakers are in the spotlight, with cover star Carpe Diem Beds outlining The Iconic Collection’s rollout, while DUX explains what it looks for in a retail partner. In other #bedroom news, we’ve the latest from Dreams, as CMO Jo Martin reveals the new technology developed to help athletes sleep better at this year’s #Olympics, plus updates from Rauch, Kaydian and Simba Sleep. Elsewhere, meet Saxon Furniture’s Mark Denby, get personal with agent Philip Gant, and discover what our panellists are doing to meet demand from younger #shoppers. You’ll also find opinion pieces from Steve Pickering, Gordon S. Hecht and Jonny Westbrooke, plus advice on asset disposal from BPI’s Richard Travis. Oh, and about that pen? Jordan Belfort revealed that from his POV, the question’s a trap. Most will try talking up the pen’s benefits, but the best response is to open a conversation. Ask the customer whether they want a pen and what they want from it, rather than wasting your time trying to sell a pen (however amazing it may be) to someone who doesn’t want one.  In short, focus on the customer’s needs, not your own (I think the likes of Carnegie, Barragan and Ogilvy would concur). And no, I don’t need a pen. But I could probably be persuaded. Read #September's issue at https://lnkd.in/eADNvwqc #b2b #magazine

We are starting to see the consequences of the appetite to acquire Macy's by ARKHOUSE Management and Brigade Capital Management, LP for the underlying value of the famed retailer's real estate. Last December, the combined investor group submitted a proposal to acquire Macy's for $5.8 billion. Macy's board declined. The group has since sweetened the bid by $1.1 billion and is now offering $6.9 billion to acquire the Macy’s stock they don’t already own for $24.80 a share. That has sent the stock up. As a result of the initial offer, Macy's brought in real estate star power to its board (including two proposed by Arkhouse) and has devised a defensive strategy to monetize its real estate. One of the first dispositions is the 78,000-square-foot Macy's furniture gallery, which sits on a 4.6-acre site in south Miami-Dade County. It was sold to the University of Miami, according to records and real estate database Vizzda. In March, Macy’s sold its two store buildings in the Mall at Fox Run in Newington, New Hampshire for $16.25 million to Torrington Properties Inc., the Boston-based company that owns the mall and other major shopping centers in N.H. Macy's is working with SRS Real Estate Partners to market other properties. Up for sale is one store in Alabama, one in Georgia and six in Texas. These include the Macy's store at Town East Mall in Mesquite, just east of Dallas, an enclosed mall developed in 1971 by Sears affiliate Homart Development Company, and now owned by Brookfield Properties, and Fairview Town Center in a north Dallas suburb developed in 2010 by THE MGHERRING PROPERTY GROUP LLC and now owned by Lincoln Property Company. A sales brochure, circulated recently by Lee & Associates Commercial Real Estate Services, seeks $8 million for a Macy’s 15-acre department store property and $5 million for its 7.5 acre furniture store at Florence Mall in Florence, Ky.  The mall was built in 1976 by Homart. In 2021, lenders took ownership of Florence Mall after its longtime owner, Brookfield Properties, defaulted on $90 million in CMBS debt. An ownership entity that includes Mason Asset Management, Inc. and Namdar Realty Group LLC bought the mall afterward for $38 million. Last February, Macy's announced a plan to close about 150 underperforming stores in the next three years. About 50 locations will close on January 31, 2025, which is the end of Macy's fiscal year. As part of its initiative to focus on its best-performing stores, Macy's plans to monetize $600 million to $750 million of assets through 2026, primarily related to closures of stores and distribution centers, according to Macy's financial disclosures. The company owns almost 60% of its store locations, all held free and clear of mortgages.

What is a 3P model in Retail real estate Let me explain What is it and how we follow and manage the thing. PLACE (1ST P ) - Place is a crucial part of your retail store whether it's inside or outside, corner or middle it's the biggest concern for us. In terms of economics, it is affordable, premium or luxury is also a concern for revenue purpose. POSITION ( 2ND P) - Yes proposed retail store position also matters to us because it centralizes the visibility of your brand to the buyer and helps you create a great showcase of your product. Print ( 3RD P ) - We can call it footprint it is the combination of place and position that you can make a good print in your store. #retail #retaillease #commercial #realestate

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Here’s the most common misconceptions we’ve discovered when people are opening a new retail store - and how to avoid being caught out by these https://lnkd.in/genZDZUc #designandbuild #retaildesign #retaildisplay #fitout #shopfitting #retailtips #retailtrends

I was in Neiman Marcus a few weeks ago and it was depressing and nearly empty. There was no joy, there was no energy, there was no "elevated" customer experience. They don't even have a customer service department anymore. Merchant/showman Stanley Marcus would not believe what has become of his company. I feel like we're just watching department stores go away, and no one really cares. And then I read this article -- pretty inspiring. The digital/social strategy -- and this family's passion for what they do -- are really driving the brick and mortar success. #retail #socialmedia #luxury #hirshleifers #customerexperience

One of the initial lessons for Key Account Managers involves grasping the #KPIs' by which their clients are evaluated. By comprehending these KPIs along with understanding the buyers' personal motivations and personalities, you enhance your likelihood of achieving your objectives. Unfortunately, many #retailers lack an understanding of the crucial metrics by which #malls are assessed... #retail #innovation

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