Here's a history lesson for all you ignorant millennials out there. Back in the day, when I was a kid, we used to buy our electronics from a brick-and-mortar retail store by the name of "Circuit City." Well, actually, we purchased it from other brick-and-mortar stores competing with Circuit City, or else the company wouldn't have gone out of business not once, but twice.
In any case, New York retail vets Ronny Schmoel and Albert Liniado are hoping the third time will be a charm for the once No. 1 big-box tech chain that failed to adapt to rapidly changing marketplace in 2008.
So what is Shmoel, now working under the name Circuit City Corp., planning to do differently with the company? After having aquired the brand, domain, and associated trademarks from IT supplier Systemax — which bought them in a bankruptcy auction and subsequently abandoned the retail channel last fall — the duo is now forming an "ambitious, multi-tiered game plan."
And who are they targeting?
You, the millennial.
Schmoel's plan calls for "retail outlets, web sales, branded and private-label products, licensed kiosks, mobile shops, and franchise opportunities." The actual brick-and-mortar stores will range from 2,000 to 4,000 square feet, and will feature "product zones that present the assortment of electronics by category and brand. They will sell pre- and postpaid smartphones, tablets, notebooks, wearables, networking equipment, gaming products, headphones, drones, 3D printers, health appliances, and DIY devices" — ya know, everything kids love these days.
And because millennials hate talking to people face-to-face, the store will be littered with electronic price tags and touchscreen terminals linked to a "million-SKU selection online."
The stores also plan to offer "quality, value-priced" assortment of USB cables, power banks, digital accessories, and other electronics under the company's own AudioMate, DigitalMate and Circuit City badges.
The first store is expected to open in the Dallas market alongside a relaunched CircuitCity.com in June. Shmoel envisions 50 to 100 corporate-owned stores up and running by next year. Eventually, the plan is to have an additional 100 to 200 franchised locations.
Seriously, this has to work. The only advice I'd offer is add a Starbucks in each location. Millennials love Starbucks.
I'd also consider a name change to something millennials can truly relate to. Something like, "App City" instead.
[Twice]
