- (0:15) - Apple Keynote Event
- (1:10) - Apple Retail Stores: Creating Town Squares
- (3:00) - Retailers Transforming Brick and Mortar
- (4:15) - Episode Roundup: Podcast@Zacks.com
On this week’s episode of Shopping for Stocks, host and Zacks Editor Maddy Johnson discussed the retail plan tech giant Apple Inc. (AAPL - Free Report) laid out at its much-hyped Keynote event held last week at the brand-new Steve Jobs Theater.
Before the company unveiled the slew of new devices we’ll all likely be putting on out holiday wish lists, senior vice president of retail and online stores, Angela Ahrendts, came out to discuss Apple’s vision for a new kind of retail store.
And boy, is it different. Because Apple views its retail stores as its “largest product,” the company’s redesigned locations are now town squares, a public space were customers can get tech support for their Apple device but also hang out with friends afterwards.
While it is a risky concept, Apple town squares aren’t all that different from what traditional retailers are trying to implement. Companies like Nordstrom (JWN - Free Report) , Best Buy (BBY - Free Report) , and Kohl’s (KSS - Free Report) are creating and experimenting with different kinds of store concepts that focus on an experience rather than just buying a product.
Apple’s notion of what retail can be is definitely different and certainly risky, but it’s also a reflection of where the broader retail industry is headed.
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Image Credit: Apple
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