Bloomingdale’s. They’re becoming Bloomies. Do we have a Bloomingdale’s here in? I’m not positive, but they’re changing up their strategy just a little bit. And in business, sometimes this happens. Sometimes you have to take your name and you have to shorten it. Sometimes you have to modify your plan. Sometimes a good pandemic will do that to you.
Sometimes you need to become more hip. Sometimes you need a little bit less space. Sometimes retail changes and you need to become more of a, you know, a retail place and a showroom and sell more things online. So there’s different trends all over. And that’s exactly what Bloomingdale’s is doing with opening up this new concept of bloomies. I don’t know that I like the name. I just think bloomers.
Hey, it is what it is. This is Shana Acquisto. So she’s a luxury real estate broker. And we’re going to discuss that topic right now. Let’s do it. We have a link and we’re going to share an article here on what’s going on. So Bloomingdale’s is getting ready to open up their first ever Bloomies store. The link is going to be provided to you guys. And we’re taking a look here. So what they’re doing is they’re opening up a twenty two thousand square foot place. It’s much, much smaller than the typical location, which is almost two hundred thousand square feet.
So it’s one tenth of the size. So maybe it’s convenient store size, so to speak. Of what? Of what their normal size, then. Right. So let’s go ahead and scroll through this article and let’s take a look at something that Macy’s is considering as well. And you just take a look at it. And it’s not just a nickname anymore. They’re changing up their style. They’re changing up what they’re doing.
I think you’re going to see this rollout in a lot of retail. All right.
Well, let’s scroll through. They’re showing us the concept here of what it kind of looks like and what they’re going after. They’re showing off a little kiosk type things with more examples, more styles, more colors, more options where you can get whatever you want, where you could walk in and see. Maybe you could touch the fabric, maybe you could pick the exact color and order it and ship it to you. So these are all things that are available to you, right? Mm hmm. So this is a neat and unique concept to me.
I looked at it and I think that it it makes sense for them. So you’re thinking about how does this have anything to do with real estate, as am I right now? So what I want to do is look at it and understand that there’s different trends that go on there. Obviously, a retailer. Right. And retail typically does use a lot of space, but their shifts in paradigms that go on all throughout the market.
So maybe we’ll switch back over here and we’ll talk about how this is a real estate topic and then we’ll talk about what what you as an agent should kind of know about it. OK, so from a commercial real estate perspective, if we took a look at this and you’re not in commercial, you’re in residential, but there’s going to be a direct parallel and I’m glad I came up with that. So if we look at it, we have a two hundred thousand square foot place that used to be.
Now we have a new place. It’s going to be opening up only twenty thousand square foot. So it’s one tenth the size, but they’re transacting business in a totally different way. So if we’re looking at how they’re using retail, they may have had a bunch of space and went all the way up and had multiple floors or been extremely sprawling, depending on where the location was. Now they have this small place that they’re going to pay a lot more in rent for.
They’re probably going to get a premium location and pay more in rent per square foot and be more dense. But they are also to fulfill this, are going to need a whole back end. OK, so their system is going to change dramatically. They’re going to have a warehouse now that they have to open up over every single one of these are going to be warehouse space related to it. Their whole hiring practice is dramatically going to change. So you’re going to have to have more of a service person right at the counter taking care of the person that’s more knowledgeable. Right.
So you can’t just have a person that says, like, hey, go try this on, because they’re going to now have to know how it fits, what the callers are, what the materials are, what the fabric like, what it is. Just like you as an agent, as these things are changing, you’re going to have to become more knowledgeable.
Yes. Do you want to be the person that just opens up the door, like the person who just says, where’s the changing room? And they just simply give you a key and let you in? Or are you going to be much more knowledgeable and be the person that can say, here’s the fabric, here’s what it’s made of, here’s how it feels, here’s how it looks. Let’s take a look. Here’s the delivery times.
Here’s how we can get it made. You know something else. Maybe it’s not just your standard size, but maybe you need it because you’re a little shorter. Maybe you need a tall because your torso is a little bit longer. One of those things.
And we can find the right to fit you in the same way as a real estate agent. The more knowledgeable you become and the better you are, the higher level of service you offer. You’re kind of doing the same exact thing. Here is Bloomingdale’s is with blue means, but then realize on the back side there’s a whole bunch of stuff that has to go on.
So there’s a ton of logistics, there’s warehouse space, there’s truck drivers. There’s going to be an online website that has to take place extremely similar to our company here with real estate. So you need a whole support division to be able to pull this off. Right. So our support family is really, really similar to the whole backend of what this would be.
So they have the website and it’s going to be made easy. They have technology that goes into it to fulfill the orders and to build it and take care of that. They have marketing right, to show it off, to give you different experiences, to let you understand it. And all of these things go into it the same exact way that we here to Questa real estate have a support family.
So there’s a direct parallel between what they are doing and what we are doing now. You. Argue that you don’t like the name, but that concept is going to happen, right, and you as an agent do need to become more knowledgeable and you have to offer that level of service is similar to Bellamy’s. So that’s the challenge that I bring to you, is to become Bellamy’s and see what’s going on in the market to add value. Don’t just be the person that handles the key to the to the changing room.
Next time you’re looking around and you want to try something on right. And you’re out shopping, consider who that person is and think to yourself the next time you ask for a changing world. Think about that person. Is that person maybe just a local guide like Zillow wants to try to make everybody or are they an expert in a realtor and an agent that cares? And it matters to them, maybe similar to you.
So let’s just just understand that and see that parallel all over the place and think about great service. Right. If you if you go and you try on and that person is like goes above and beyond, you remember that. Think back of all the great service that you get and the service, the not so great service that you get.
And then think about the pricing at Bloomingdale’s. I don’t actually know. I don’t shop to Bloomingdale’s, but it’s known as an upscale. It is so higher and retail shop so good.
That’s how you would like to be known as well for sure.