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Publishers Opinion-January Edition
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Happy New Year
As we enter a new year, many of us are happy to still be among the survivors in real estate. Perhaps many of us succeeded by reinventing our companies while others who chose complacency are no longer with us.
If you thought of companies outside of real estate that are just plain successful because of the need they satisfy, who would you think of? I was intrigued, like many others, with the opening of a new Walgreens on State and Randolph downtown. Not with the opening but with the idea of a winning company in a winning location. What would certainly be an almost guaranteed success, Walgreens chose not to stop there. Evaluating the neighborhood, Walgreens took a large step in reinventing one of its newly remodeled stores. Examining the location and determining a need or at least a desired commodity, Walgreens opened a high-end sushi salon bar.
The new store will sell high-end products and reach for a higher level of customer satisfaction. Products and services include a sushi bar; coffee bar; juice bar which includes made-to-order smoothies; a wine selection of over 700 wines, high-end cognacs and other liquors; specialty meats, cheeses, chocolates; self serve frozen yogurts; and a humidor with cigars and other tobacco products.
The store also includes a spa for manicures, virtual make-overs, and an eyebrow bar. Oh, and you can get your prescriptions filled but the pharmacy is in the back of the second floor. Like they almost forgot it...or it’s a way to get people walking through the store.
So, I said earlier that I was intrigued with a new store, but in reality I am intrigued with a whole new concept being used by a company that enjoys great success but continues to strive beyond its comfort zone looking for the next store model. I salute them as they show all of us to never be satisfied with where we are today, for tomorrow may put us in a different place.
So next time you go to Walgreens to buy aspirin, don’t be surprised if the clerks ask if you want a tuna roll with that.
We are now working on our February Yearly Business Review. We will see you then.
by Roger Krieg
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