Story founder Rachel Shechtman: ‘We haven’t even seen retail armageddon yet’

Rachel Shechtman, CEO Of STORY: Redefining The Retail Business Model And The Customer Experience
By Hilary Mlines.

Rachel Shechtman, the founder of the concept store Story in Chelsea, isn’t tossing and turning worrying about the collapse of physical retail.

“It’s of course important to us that people come in and buy something, but we’re in a place where we don’t need to look at sales per square foot every quarter. That’s not how we live or die,” said Shechtman. “Our audience is a Venn diagram, and the consumer is just one piece of that.”

Story changes its inventory and physical layout every few weeks, and each new remodel is based around a theme. Right now, it’s “home for the holidays.” Every theme has a sponsor, typically a big-name brand that’s trying to figure out how to connect with customers looking for more — pas sponsors include NBC, Target, HP and Nickelodeon. The merchandise carried by Story is usually sourced from small businesses who get in front of both potential customers or other retailers that are looking for new merchandise. According to Shechtman, 15 percent of foot traffic is from B2B companies.

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