Consumers Pay Big Bucks For "Fashtronics"

Written by Oonagh Reidy     09/10/2013 | 09:25 | Category: INDUSTRY

Its not cheap being fashionable. "We want to take consumers on a journey ..its not just about the price".

Consumers Pay Big Bucks For "Fashtronics"

That's according to Move Ceo Nick Abouud who says the new fashtronics stores are all about the Apple-esque store experience.

"Move is an exciting business, which we believe there is an opportunity for in the world market" says Abouud.

The Move "fashtronics" store, opened last weekend in Sydney, is the "first in the world".

Abouud, who is also head of Dick Smith, admits he's "very excited" by Move's fashtronics business.

"The experience between electronics and fashion was always a dream of mine".

"This {fashtronics} category has opportunity", and he believes the new retail fashion and tech instore experience will bring the Gen Y, web savvy consumer back into stores.

And they'll pay top dollar for it too - whether its a Romance Was Born - designed Samsung Galaxy S4 case, iPad cover, Bang & Olufsen headphones for $498 or the Beats Pill speaker for $200.

Its The Experience, Stupid

Young, tech savvy Move staff have been trained to give customers the full experience. The innovation - you get in Move, with the latest seasonal fashions blended with technology, "really inspires you to buy", he says.

These retail innovations include a 'fitting table' (where you can design your own covers and put together an "outfit" for your mobile inspired by Vogue et al), mannequins, 'objects of desire' glass cases, Style Pods and cool tunes playing in the background.

"We want to take consumers on a journey ..its not just about the price".

"Its like going into an Apple store, price is not the issue, its about the experience".

And its definitely not boring.

"Move is not selling bulk stack like you see at typical electronics stores or a boring telco store that just has phone on fixture with no accessories".

However, Abouud insists the store will be competitive on price, with its $1.3bn buying power, with Dick Smith.

"The buying power we got, allows us to be competitive on price" and Move's 'A' demographic location will be targeting big spenders.

Emporium in Melbourne will be Move's second store - the old Myer building, with plans to erect at least 30 others. "We're going to build on what they started in Sydney".

Innovate - Or Die

Retail needs to innovate - or else die, he says. "Retail stores are closing down all around us, its all about innovation," says the former Myer exec. "Where there's no innovation you'll see [stores] moving out and being replaced by something new".

"We're going to continue to reinvent ourselves", he added.

Even Aboudd's casual dress at the launch of Move was far more chillaxed than the stiff business attire he wore when launching the Dick Smith revamped stores months earlier.

"We have to think about the online experience ..and go 100 miles ahead of that - to give the customer the full experience instore." There are several designer items on sale instore at Move, not available online.

The store will also adopt different themes, as seasons, trends change. Unlike Dick Smith, Move "allows us to drive a very young consumer - male and female who wants to spend on the latest and greatest" technology.

"Bondi Junction is a great place to open our first store" - being a black label shopping centre, and the number 2 biggest retail location in Oz, and there's plans to expand all over OZ.