Corona, war, energy crisis, inflation and online trading. Retail is under fire from many sides. Year after year, more and more stores are closing and city centers are losing importance. For the current year, the German Retail Association predicts that up to 9,000 stores will have to close.
But how do you oppose this negative trend as an entrepreneur?
The Engelhorn department store in Mannheim seems to have found a solution.
On more than 38,000 square meters of sales and action area, the traditional Mannheim-based company tries to emotionalize the shopping trip and resorts to various means here. There is private shopping advice, intensive consultation on the floor, five of its own restaurants (two of which have been awarded stars), events in the outdoor area and much more. The Mannheim-based company, which turns over around 200 million euros a year and employs around 1,000 people, always comes up with something.
We invited co-CEO Simon Engelhorn to talk about the aftermath of the Corona crisis, the extinction of downtowns, and A/B testing in retail.
10€ discount on a purchase value at Engelhorn Onlineshop with the coupon code SNOCKS10. The promotion runs from 07 August to 14 August 2023.
(01:26) What does Engelhorn do?
(06:08) How did Engelhorn perceive the retail corona crisis?
(12:02) Was Engelhorn able to shift offline sales to online during Corona?
(16:51) Can you stop the extinction of city centers with an experience culture?
(18:48) How data-driven is Engelhorn working on the surface?
(23:02) What retail role models does Engelhorn have?
(29:50) Which brands have performed well in recent years?
(34:48) How do you manage to work with your family for four generations?