I make my annual visit to RadioShack for an HDMI to DVI adapter. The store is old, empty, and filled with boring products like adapters.
I visit annually because there’s nothing drawing me in.
RadioShack hasn’t evolved. BestBuy, Walmart, Sears, they sell the same products. Between big-box retailers, and online shopping, RadioShack has lost its competitive advantage.
How does RadioShack becomes InnovationShack? Recently, they partnered with PCH (https://theblueprint.com/) “an online retail destination and discovery platform for the next wave of consumer electronics.” (htt5)
This partnership has huge potential. How can RadioShack compel me to visit a couple times a month? New, innovative technology that you can’t buy locally: technology you can touch and interact with. What a wonderful experience – unique products added as they are brought to market.
Liam Casey, PCH founder, has it figured out:
“There is a role for pop-up stores, online retail, and storefronts. The key to storefronts is creating places for people to browse and discover new products. This is juxtaposed to destination stores, such as a mobile carrier store, where people go for a single purpose.”
Technology innovation has grown – geometrically – with the introduction of crowdfunding. Crowdfunding reduces risk in bringing a product to market which creates greater opportunity for entrepreneurs to build.
RadioShack is perfectly aligned to transform it stores from old and boring to new and innovative.
Hopefully – in the near future – I’ll be visiting RadioShack regularly to purchase cool, innovative gadgets.