Neighborhood Goods: Stour Tour With Matt Alexander
Take a look at what sets Neighborhood Goods apart from traditional department stores.
In this video, you’ll hear from Neighborhood Goods Co-Founder and CEO Matt Alexander as he walks us through his Plano, Texas flagship.
For more on Neighborhood Goods, check out the full podcast interview with Matt here.
Julia Raymond Hare:
We’re kicking off another episode today with my guest, Matt Alexander. It’s great to have you on the RETHINK Retail show. You are the founder, co-founder of Neighborhood Goods. This is an extremely buzzed-about new concept. It’s not your grandmother’s department store. You’re completely reimagining what it means to be a brick and mortar retailer and mixing that traditional store environment with the frictionless technology and bringing brand experiences to life.
So first of all, thanks for having me on. And that was a pretty good summary. I mean we describe ourselves as being a need-type of department store of sorts, which is varying degrees of accurate, right?
if you walked into our space in Plano, then into New York, then into Austin, you would see a pretty clearly evolving thesis around design and otherwise. We have fixed physical spaces as well as digital experiences where, for the consumer, you walk in and you see most major product categories represented anything from home to kids, to apparel, beauty and wellness and otherwise we have our own restaurants in the space. It’s our stuff, it’s our design and fixtures. So it presents this a small format department store or sort of a larger scale boutique.
But the brands that you find inside the space, the brands you typically wouldn’t otherwise find in physical retail, then much more of a progressive mix of modern and digitally native brands mixed with some locals younger companies as well as some higher growth big names international more established brands. And instead of being now on wholesale static basis just on a sea of racks instead, it’s more of an ever-changing footprint.
For brands, it can be a lot of different things. So you might look at it as a real estate channel to test a new area in the country, for others it’s more of a marketing channel to get in front of more people, for others it’s a sales channel, of course, traditionally it might be that for brand adjacency and otherwise.
And so a lot of them look at it as a hop, skip, and a jump away from having their own pop-up, but without having to stuff it, build it, design it, manage it. And so the ultimate result is that for the consumer, you get something really vibrant, exciting, interesting that’s changing all the time. So, something that presents in honestly a fairly traditional way to the end consumer, where it’s just a very progressive, exciting mix of brands that’s presented through a very relevant angle and lens. But a lot of different things for all the brands and partners we work with as well.