Why brands are banking on new store formats amid cautious return to the high street
With a host of retailers returning their attention to physical retail, finding new formats that entice consumers could be key to growth.
HMV is poised to make a symbolic return to Britain’s biggest high street. The venerable music retailer is to reopen at 363 Oxford Street in London, its original site and spiritual home.
The brand, which has collapsed into administration twice in the past decade, also plans to open two dozen branches of its ‘HMV Shop’ format, launched in 2021, as well as converting a further 14 existing stores to the format. The stores have benefitted from running live artist events, and from a resurgence in vinyl sales, to revive the brand’s fortunes.