By: Erin Uchaz & Mikaela O’Halloran

About Story

Located in the Chelsea neighborhood of New York City

Boutique that changes its store concept every four to eight weeks

Each concept tells a different “story”

“explore themes that are universal in concept but niche in execution”

Goal is to be ever changing like our mobile life is – even within a story products can change weekly

http://www.inc.com/nicole-carter/a-brick-and-mortar-start-up-store-rachel-shechtman.html

Founder of Story 36-year old Rachel Shechtman

consulted for brands like Kraft, TOMS shoes and Lincoln

One of Fast Company's “100 Most Creative People in Business 2012”

Fortune’s 2013 40 under 40

Believes “the future of retail will be less about consumption and more about community” and “collaboration is the new competition”

How It Profits Advertisements and sponsorships are crucial for the

store’s profit and sustainability can cost anywhere from $50,000 to $175,000

Perfect place for conversations between consumers and brands

Appeals to all age groups and all levels of spending as long as they relate to the story “People always say, "who’s your market?" And I

always say I only have two rules. Every story needs to appeal to someone between the ages of 5 and 80, and there has to be something for sale that’s $5, and it can go as high as $5,000.”

In store events like classes, book signings, music and talk events

Hopes to expand with at least 5 stores in the next 3 years (as of 2013)

Past Stories Launched in Beta as a “Start-Up Store,” spotlighting emerging

digital retail concepts

Home for the Holidays Story – turned the weekend between black Friday and cyber Monday into a block party and doubled sales from the previous year “an editorial gift guide that comes to life in someone’s home” -

The living room is Something for Everyone, the playroom is for the Kids and so on

New York Story – custom Milk Made ice cream flavors sold by the pint or cup for the first time and exclusively at Story, skill-share classes with New York Mouth

STRENGTHS New spin on Brick-and Mortar

Different Concept

Every 2 months there is a new reason to come back Appeals to the ‘fickle

customer’

Target men, women, and children between the ages of 6-90

Interactive not just shopping Events, activities, food and

drink “Interaction in a retail space

often leads to interaction with wallets and purses”

WEAKNESSES

Not well known

Limited Advertising

Turnover time

People may assume that it is an expensive store because they have expensive products

Only in New York

No online store

OPPORTUNITIES Expanding to different

locations LA? London? Tokyo?

Marketing and Advertising Grow its social media

presence

Smaller Businesses

THREATS Copycats

Stores with the same products but cheaper

References http://www.huffingtonpost.com/2012/11/09/concept-shop-

story_n_2103800.html

http://money.cnn.com/gallery/magazines/fortune/2013/09/19/40-under-40.fortune/36.html?iid=40Under13_fl_list

http://www.thenextwomen.com/2013/04/24/inside-scoop-story-revolutionary-nyc-retail-concept

http://nypost.com/2013/12/03/small-businesses-see-increase-in-holiday-sales/

http://www.elle.com/fashion/spotlight/holiday-picks-from-story-chelsea#slide-1

http://www.coolhunting.com/design/story-new-york.php

http://www.bloomberg.com/video/story-shopping-in-a-living-magazine-BvaSP9b8QuWlVt_BZd5tng.html

http://www.inc.com/john-brandon/this-start-up-is-shape-shifting-the-retail-store.html

http://www.inc.com/nicole-carter/a-brick-and-mortar-start-up-store-rachel-shechtman.html