Casper CEO says death is coming for “bad” retailers

If the customer doesn't "enjoy spending their time" in a store, it's toast says Philip Krim

National /
Nov.November 25, 2018 02:00 PM

Philip Krim (Credit Getty, iStock)

Casper co-founder and CEO Philip Krim thinks the retail apocalypse will discriminate between good and bad.

“There’s certainly not a death of retail, there’s just a death of bad retail,” Krim told the Wall Street Journal in a recent interview. His definition of bad retail is a store experience where customers aren’t enjoying themselves.

His prime example? Most mattress stores.

“Before Casper came along, you had to go to bad retail [to buy a mattress] and you had to deal with a commissioned salesperson, fluorescent lights, in an environment where you didn’t feel comfortable,” he said.

“Retail is increasingly the world of the haves and the have nots,” he later added, noting that beyond creating a good environment, the ability to toggle back and forth between e-commerce, retail and wholesale businesses will be the key to retailers’ success.

After all, “consumers don’t bifurcate or segment their world like that,” said Krim. [WSJ]–Erin Hudson


Related Articles

arrow_forward_ios
Target CEO Brian Cornell. (Getty)
Internet, shminternet: Target adds, renovates stores as money pours in
Internet, shminternet: Target adds, renovates stores as money pours in
The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
Manhattan comedy club sues Cuomo over pandemic closures
Manhattan comedy club sues Cuomo over pandemic closures
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Order up: Real estate investors line up to buy drive-throughs
Order up: Real estate investors line up to buy drive-throughs
Mayor Bill de Blasio (Getty, iStock)
NYC to revive $17B in public construction projects
NYC to revive $17B in public construction projects
Houston House at 298 East 2nd Street and Matt Lee (Houston House, LinkedIn)
Developer Matt Lee to auction off East Village condo
Developer Matt Lee to auction off East Village condo
(Getty)
Hotel stocks went bonkers in February
Hotel stocks went bonkers in February
Homebuilding is largely responsible for the increase in construction spending. (Getty / Photo Illustration for The Real Deal)
Construction spending hits new record in January
Construction spending hits new record in January
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...