Foot Locker Unveils New Concept Store to Adapt to Changing Retail Landscape

Foot Locker unveils innovative 'store of the future' concept with expanded product selection, sustainability focus, and advanced digital technologies to enhance the customer experience and regain investor confidence.

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Foot Locker Unveils New Concept Store to Adapt to Changing Retail Landscape

Foot Locker Unveils New Concept Store to Adapt to Changing Retail Landscape

Foot Locker has opened a new 'store of the future' concept at its Willowbrook Mall location in Wayne, New Jersey. The innovative store features a bold storefront, expanded product selection, emphasis on sustainability, and advanced digital technologies to enhance the customer experience.

The concept store aims to cement Foot Locker's position as a leader in sneaker culture by offering an engaging, innovative shopping experience. Key features include an immersive shopping journey, elevated brand storytelling, a communal try-on area, a 'sneaker hub' with customization options, and expanded omnichannel capabilities.

Foot Locker plans to roll out this new store concept to additional locations in the U.S. and internationally throughout 2024, including a flagship store in New York City and stores in Paris, Melbourne, and Delhi. The company hopes this innovative retail experience will help regain investor confidence and adapt to the changing retail landscape.

Why this matters: Foot Locker's new concept store represents a significant step in the company's efforts to revitalize its brick-and-mortar presence and compete with its own brand partners who have expanded their direct-to-consumer channels. The success of this new format could shape the future of Foot Locker's retail strategy and influence the broader sneaker and sportswear industry.

The new concept store is part of Foot Locker's 'Lace Up' plan to revamp its store footprint. The company plans to refresh 900 stores in 2024 and 2025 using the new design elements. Foot Locker is investing $242 million in 2023 to remodel and build new stores as it seeks to reverse a sales slump.

"This new store concept is part of Foot Locker's Lace Up Plan, which includes reshaping the company's real estate footprint by opening new formats and shifting off mall," said Mary Dillon, President and Chief Executive Officer of Foot Locker. "The learnings from this concept will influence the future Foot Locker store experience and create a globally-scalable omnichannel experience across the Foot Locker and Kids Foot Locker banners."

Key Takeaways

  • Foot Locker opens 'store of the future' concept in New Jersey.
  • Concept features expanded products, sustainability, and digital tech.
  • Foot Locker plans to roll out concept to US and international stores.
  • Concept aims to revitalize Foot Locker's brick-and-mortar presence.
  • Foot Locker investing $242M in 2023 to remodel and build new stores.