Store design and the art of packing high-volume sales in a small space was one of the front-and-center topics at the True Value Market in Philadelphia.
The company's Destination True Value (DTV) initiative -- its store design and merchandising concept -- came to Philadelphia in a new package that measured just over 5,200 sq. ft. The concept store, on full display at the Pennsylvania Convention Center, included 50% less lineal feet than the medium-size DTV format, but had 68% of the SKU count, according to the co-op.
According to Mike Clark, senior VP and chief merchandising officer for True Value, the new small store concept might not be for everyone, but it offers options for most. Design innovations, such as shorter hooks and space-saving fixtures, can be adopted by just about any retailer.
"What this exercise in downsizing showed us is that for any of you who have space constraints, you can now use our merchandising direction to expand into new categories while maintaining dominance in important lines like light bulbs, cleaning chemicals, paint sundries, builders' hardware and fasteners and lawn and garden chemicals," Clark said during his general session presentation.
The co-op's merchandising team developed 79 new planograms to help organize the store.
True Value expects to add more than 1.1 million DTV square footage in 2011, a 25% increase over last year.
"Not only are the DTV stores outperforming the non-DTV stores, they're way outperforming the industry and the economy," said Lyle Heidemann, True Value CEO.