Cooltown Studios

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 | Permalink
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 on  10/092003  at  10:57 PM

Hello Neil,

These are great ideas!  I especially love the articles about kids and schools.  Can this happen in San Francisco given that our real estate prices are outrageous?  What’s your take on that?

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