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
Colliers’ Jay Hennick (iStock; Colliers)

Colliers’ profit rebounds

Colliers’ profit rebounds
JPM asset CEO Mary Callahan Erdoes and 605 Third Avenue (Getty; Google Maps)

JPMorgan eyes $600M valuation for Third Ave office tower

JPMorgan eyes $600M valuation for Third Ave office tower
(Getty, iStock)

Hundreds of storage units in New York heading to auction

Hundreds of storage units in New York heading to auction
KABR Group CEO Kenneth Pasternak and 85 Challenger Road in Ridgefield Park, NJ (Photos via KABR)

KABR sells New Jersey building for reported $60M

KABR sells New Jersey building for reported $60M
Gov. Andrew Cuomo and Mayor Bill de Blasio (iStock)

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions
2055 Anthony Avenue and 1416 Ferris Place (Google Maps)

Ved Parkash picks up Fordham Heights apartment building

Ved Parkash picks up Fordham Heights apartment building
(Getty)

When the music stops: Guitar Center could file for bankruptcy

When the music stops: Guitar Center could file for bankruptcy
Abandoned malls are being turned into senior housing, giving planners a chance to rethink retirement communities (iStock)

Abandoned malls get new life as senior housing

Abandoned malls get new life as senior housing
arrow_forward_ios

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

Loading...