It’s a great time to be in the luggage business. Travel is trendy, and airplanes are flying full. Better yet, airlines are experimenting with restricting the quantity, size and type of carry-on bags allowed.
That means a lot of people may need to soup up their road warrior gear.
Against that cheery backdrop, Kaehler TravelWorks in Northbrook has decided to take a big plunge: opening a free-standing Loop store at the corner of Clark and Monroe.
Buzz Kaehler, the third generation of Kaehlers to head the 78-year-old firm, says he isn’t worried about the cut-throat competition in Chicago’s business district. “It’s the best location I could dream of,” he says. “We’ll own the corner, and we’ll be able to offer a tremendous selection.”
Yet Kaehler knows that selling high-quality luggage is no longer enough in today’s competitive retail environment. He has added travel accessories to his merchandise mix, including language translation devices, neck pillows and electrical converters.
His stores also offer a selection of best-selling guidebooks. And TravelWorks stores feature an Internet connection that allows customers to check the weather conditions in far-flung locales such as New Zealand. There’s even an authentic airline seat and overhead compartment to test the fit of carry-on baggage.
But there’s one product extension that Kaehler has considered and rejected: creating his own travel agency. “I know how to buy merchandise and deliver it, but that’s a 100 percent service business,” he says.
Rather than competing with travel agents, Kaehler works cooperatively with a number of them. His payoff: getting referrals when a traveler needs a new bag.
Thrill seekers: Lots of retailers and consultants are trying to get a handle on today’s consumer. Most agree that shoppers today are more interested in embellishing their home or traveling than paying a lot for career wear.
But beyond that, few experts have any idea what is motivating shoppers, an eclectic crowd ranging from existentially challenged 20-somethings to globe-trotting 70-somethings.
The theme retailers are missing is adventure, says Wendy Liebmann, president of WSL Strategic Retail in New York. Lulled into complacency by a strong economy and declining crime rates, U.S. shoppers are seeking vicarious thrills, she says. Some of those can be found by reading “Into Thin Air,” the best-seller about a fatal attempt to climb Mt. Everest; dining at a restaurant featuring Brazilian barbecue; wearing yellow nail polish or smoking a cigar.
How can retailers capitalize on this trend? Surprise your customers with “a little from-the-edge experience,” recommends Liebmann. That may involve selling products with a foreign flair or adding some drama when a product or service is delivered.
Bring on the saganaki.
The way to Mom’s heart: Are moms becoming less materialistic? A Mother’s Day gift survey by the National Retail Federation suggests they are.
Last year, mothers’ first choice for a gift was jewelry, followed by dinner and flowers. But this year, their selections flip-flopped, with 41 percent opting for dinner, 31 percent for flowers, and 24 percent for glittery stuff.
Maybe Tiffany should open a Brazilian barbecue joint.
Going, going, gone: Bankrupt Venture Stores Inc. tried to upgrade its merchandise this year, but it acted too late. The St. Louis-based company announced April 27 it would close its remaining 73 stores and join the ranks of other defunct discounters who failed to keep up with the times.
Now two liquidation firms, Gordon Brothers Retail Partners and Hilco/Great American Group, are betting they can benefit from Venture’s last-minute efforts to improve products.
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In fact, they have paid $185 million for Venture’s inventory, which means they have to recover 53 percent of the retail price just to break even on the deal.
If Venture had done that well, it might still be around.