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

TRD 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

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

For mall owners like Simon, Brookfield and Vornado, Forever 21 bankruptcy signals more trouble ahead

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

10 Madison Square West (Credit: StreetEasy, iStock)

Lawsuit: Pet Smart’s animal excrement is stinking up this $11K-a-month apartment

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

arrow_forward_ios