While its tie-in with Amazon seems to get all the headlines, the recent good news coming out of Kohl’s may be driven by other factors entirely.
Share to twitterIts Amazon tie-in is far from the only factor why Kohl's has been doing well lately.Kohl’s has become the retail poster child of late—the company everyone mentions when they want to talk about a legacy retailer that is successfully adapting to a radically reordered marketplace.
It’s a smart tie-in and obviously drives foot traffic to Kohl’s locations. One published report says the number of people walking into an Amazon-program store averaged 13.5% higher than conventional stores. That’s impressive. • People also point to Kohl’s subleasing strategy, another smart move on its part to repurpose space vacated by downsized stores. Macy’s is doing the same thing by moving in Backstage departments into its existing stores while Sears has been leasing out lots of its former selling space in its race to retail irrelevancy.
• The same for the company’s just announced tie-in with Planet Fitness to open ten gyms this year in Kohl’s space. Again, another traffic driver—and the right traffic, younger shoppers who are hard to get into legacy retailing spaces.
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