Say what?

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This article was published 09/01/2010 (5917 days ago), so information in it may no longer be current.

Say what?

Here’s a glossary of retailing terms used in consultant Michael Berne’s 109-page report:

Psycho-graphics — The theory that consumers today are defined not only by quantitative, demographic data, such as age or incomes, but also by quantitative “psycho-graphics” such as lifestyle, aspirations and sensibilities.

Hipsters — The creative types and alternative thinkers who initially rediscovered and re-pioneered the Exchange District when it was still neglected and cheap. They embrace authenticity and places that remain “real” or unscrubbed, distrust anything that seems overly polished or packaged and have an affection for vintage clothing and retro furnishings.

Yup-sters — A hybrid of a yuppie — young urban professional — and a hipster. Usually mainstream young professionals who earn a decent salary and prefer to live in a relatively established, comfortable and affluent neighbourhood, but who have integrated creative and alternative sensibilities into their lifestyle and consumer preferences.

Commodity retailers — Retailers that can be found in virtually every major retail sub-market in a given city. An example he gives is the Peoples Jewellers chain.

Crossover retail brands — Retailers who appeal to consumers from a variety of socio-economic and cultural backgrounds. They’re patronized by the “comfortable classes” but also offer products and an ambiance that are appealing and accessible (price-wise) to lower-income households. An example he gives is the Zellers discount department store chain.

Cheap-chic retailers — Fashion stores that specialize in “fast” or “disposable” fashions — of-the-moment looks and runway knock-offs — that are inexpensively priced and are often discarded when the next new trend comes along. Examples are the Sirens and Le Chateau clothing store chains.

Casual-chic retailers — Casual yet stylish eating and drinking establishments that are geared toward the after-work/happy-hour crowd. They embrace a stylish, relentlessly contemporary aesthetic that appeals to consumers who want to feel young, hip and modern. Two examples he gives are the Earls chain and Confusion Corner Bar & Grill.

To view the full report, please visit the Downtown Winnipeg Business Improvement Zone’s website at http://www.downtownwinnipegbiz.com/home/business/retail_strategy/