Cooltown Studios
The official blog for crowdsourced placemaking

Thursday, October 02, 2003

Better than Target?

Shopping in cool towns

Target is easily the department store of choice by urbanites and creatives (who endearingly pronounce it tar-ZHAY) simply because it combines two of their favorite qualities - affordability and classy talent-over-big-name design.

Still, if such a national chain is still sending most of a community’s dollars out of town, is there any viable alternative?

How about a department store that stocked what you wanted, say, because you owned it?

Residents of Plentywood, Montana did just that - establishing a 10,000 sf community-owned store where residents bought 18 shares in the venture for $10,000 a piece. (Many single shares are owned by groups of five or six people.)

It inspired nearby residents of Malta, Montana to open their own department store, selling shares for $500.  It’s not only been profitable, but it actually anchors the downtown.
                                         
Organizers in Powell, WY did likewise and has turned a profit, avoided debt, includes a board of directors made up of local merchants, and a manager who is a veteran retail buyer.

Two more are underway in the area.

Residents in Plentywood refer to their store as “our store” - not “the store” or “that store.“  Where’s “our store” in our town?

Image: How about a department store that featured locally-made clothes inspired by designs from around the world?


Posted by Neil Takemoto in • Retail Venue Development | (1) Comments | Link
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