BuzzFeed, the online quiz and listicle innovator, is trying its hand at retail. Per The New York Post, the clickbait site has an "offbeat plan" to open a toy store in Manhattan this fall. The store, dubbed “Camp,” will span 11,000 square feet of space — include a 2,500-square-foot basement — and be located in the Flatiron District at 110 Fifth Ave. at the north corner of West 16th Street.
BuzzFeed chief executive Jonah Peretti appears to be involved, although the store will be overseen by BuzzFeed’s head of commerce, Ben Kaufman, as well as Rachel Shechtman, the so-called "retail revolutionary" based here in New York.
Shechtman also founded Story, a millennial-friendly store at 144 Tenth Ave. in Chelsea. It was recently acquired by Macy’s. The move comes at a time when bricks-and-mortar stores are struggling to stay competitive with e-commerce players, namely Amazon.com Inc., and discount retailers like Walmart Inc. To draw customers, BuzzFeed is offering customers something “experiential" to correspond with certain seasons, themes or sports.
BuzzFeed seems to be taking a cue from ThreeSixty Group's FAO Schwarz, which is also opening a store this fall to lure customers with experiential elements. Both companies can potentially fill the void left by now-defunct Toys R Us.Read Complete Article