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At Magid, we know what makes people tick and how to harness that to drive business growth. By deeply understanding human behavior, we aspire to transform the consumer experience and pave the way for a future where businesses thrive through genuine connection.
Our comprehensive suite of products combines unparalleled consumer intelligence and advanced data expertise with strategy and activation, ensuring you’re always a step ahead of the competition.
Propel your business forward with AD.VANTAGE AI
Transform your brand’s engagement and drive growth with emotional Insights
Unleash journalism with Collaborator Newsrooms.
Where audience intelligence meets impact
Unlock cultural insights to shape your brand’s strategy
Transform your brand’s inclusivity with DiversityLens
Crack the code to audience engagement with eDNA
The definitive segmentation and audience toolkit for streaming video
Never miss a beat!
"*" indicates required fields
"*" indicates required fields
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At Magid, we know what makes people tick and how to harness that to drive business growth. By deeply understanding human behavior, we aspire to transform the consumer experience and pave the way for a future where businesses thrive through genuine connection.
Our comprehensive suite of products combines unparalleled consumer intelligence and advanced data expertise with strategy and activation, ensuring you’re always a step ahead of the competition.
Propel your business forward with AD.VANTAGE AI
Transform your brand’s engagement and drive growth with emotional Insights
Unleash journalism with Collaborator Newsrooms.
Where audience intelligence meets impact
Unlock cultural insights to shape your brand’s strategy
Transform your brand’s inclusivity with DiversityLens
Crack the code to audience engagement with eDNA
The definitive segmentation and audience toolkit for streaming video
Never miss a beat!
"*" indicates required fields
"*" indicates required fields
"*" indicates required fields
At Magid, we know what makes people tick and how to harness that to drive business growth. By deeply understanding human behavior, we aspire to transform the consumer experience and pave the way for a future where businesses thrive through genuine connection.
Our comprehensive suite of products combines unparalleled consumer intelligence and advanced data expertise with strategy and activation, ensuring you’re always a step ahead of the competition.
Propel your business forward with AD.VANTAGE AI
Transform your brand’s engagement and drive growth with emotional Insights
Unleash journalism with Collaborator Newsrooms.
Where audience intelligence meets impact
Unlock cultural insights to shape your brand’s strategy
Transform your brand’s inclusivity with DiversityLens
Crack the code to audience engagement with eDNA
The definitive segmentation and audience toolkit for streaming video
Never miss a beat!
"*" indicates required fields
"*" indicates required fields
"*" indicates required fields
At Magid, we know what makes people tick and how to harness that to drive business growth. By deeply understanding human behavior, we aspire to transform the consumer experience and pave the way for a future where businesses thrive through genuine connection.
Dive Brief:
Dive Insight:
It’s a challenging time to be a big-box book seller. In fact, in the wake of Barnes & Noble’s announcement to consider a sale of the business, many industry experts are questioning whether the model can amount to anything but a steady decline as more customers flock to the convenience of Amazon (digitally and physically) and the charm of independent bookstores. In some small ways, this new concept shop takes aim at both of these competitive forces.
One way to do that is by focusing on social interaction — something Amazon can’t compete with. “Community is a key thing we are seeing that people are desiring, so a sense of you know if you have interest in a given piece of content, why not connect with people in that community that have that similar interest?” Matt Sargent, SVP of retail at consulting firm Magid, told Retail Dive in an interview.
Fostering “discovery” is another way to drive foot traffic, Sargent said, especially for nostalgic parents who may be concerned about their digitally focused children. “The fact that they are including food and comfortable chairs I think that really brings it to a point that people are looking for that experience that is more than just a product,” he said. “It fits into that community aspect.”
Leveraging the Starbucks brand is another plus, he added. However, coffee may be one thing and the food business another, as the company has struggled with a recent concept store that integrates restaurants. “It’s a lot harder than you think it is,” Riggio said on a recent conference call about its five operational restaurants. “The top line on the restaurant is good. The bottom line is awful.”
The new concept checks a few boxes on a list detailing what Barnes & Noble needs to do to win, published on Linkedin this summer by former Borders CEO Mike Edwards. The store takes one step toward tackling Barnes & Noble’s sprawling store fleet problem as well as toward mixing up its cafe experience. “Overall it appears to be a smaller [Barnes & Noble] with a more contemporary feel that could appeal to a young demographic,” he said in an email to Retail Dive. “It will take time to convert the chain to a smaller concept but longer term it is what needs to happen.”
See the original article here.
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