Shocking, but true, not all of RadioShack’s store have gotten the “concept store” facelift, but they are dedicated to throwing out the old and bringing in the new — from store design to leaders. If you weren’t convinced that RadioShack is here to stay, their Super Bowl ad begs to differ.
Though reports have shown RadioShack Corps. is planning to close 500 stores in the upcoming future, Forbes reported Tuesday that the Super Bowl campaign did well and the Corporations stock increased by 7 percent on Monday.
Will the new changes in design and campaign hurt good ole RadioShack? Some think that too much change at once doesn’t go well with customers, but we’re hoping the acceptance of their everlasting ability to know what their shoppers are looking for help them.
Laura Heller, writer for Fierce Retail, suggests RadioShack’s new-found success may be due to new leadership.
In January 2013, RadioShack hired Joeseph Magnacca away from Walgreens to be its CEO. Magnacca was a rising star at Walgreens and was promoted to executive vice president just one week before RadioShack named him CEO. It was a big score — Magnacca is a true merchant with a history building store brands, a key strength and profit center for RadioShack. Magnacca is credited with remaking Duane Reade and creating a powerhouse of store brands including Nice!, now more than a $1 billion brand for Walgreens.
Other top merchants have since joined the RadioShack team including Jennifer Warren and Michael DeFazio as senior vice president and chief marketing officer and senior vice president of store concepts, respectively. They hail from top retailers including Walmart and Sam’s Club, Marhsalls and TJ Maxx, and Walgreens, where DeFazio developed the drug chain’s newest flagship stores.
I like to think it’s because of their new “sexy” look. All white walls, a collaboration with Beats, and the “Do It Together” slogan. Reinforcing the knowledge of their employees and their ability to read minds will be key in their new positioning. New interactive displays certainly help as well. I haven’t stepped in to a new store, but I’d love to hear your experiences in them. Are they better than before? Do they make you want to shop there instead of a Best Buy or Target?