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Bringing retail into the 21st Century

Talk about a breath of fresh air.Stop anyone who steps into the new P-Tech store on Reid Street, and you are likely watch their mouths drop open in shock, before loudly proclaiming: “Wow!”To be sure, the new electronics store is something Bermudians have never seen and it is more than likely that the new product, a branch of the Phoenix Stores, will help breath new life into Bermuda's retail market.

Talk about a breath of fresh air.

Stop anyone who steps into the new P-Tech store on Reid Street, and you are likely watch their mouths drop open in shock, before loudly proclaiming: “Wow!”

To be sure, the new electronics store is something Bermudians have never seen and it is more than likely that the new product, a branch of the Phoenix Stores, will help breath new life into Bermuda’s retail market.

“We purchased it last year. We liked the location. We saw it as a natural expansion for us,” says CEO and Phoenix Stores President, George Grundm|0xfc|ller, who is more than excited about the expansion.

The process of transforming the old Stuart’s storefront began last summer.

“We had lots of meetings and consultations as we put the business plan together for P-Tech,” Mr. Grundm|0xfc|ller divulges.

“The design was completely handled by Gladson Store Design Group, out of the Chicago, Illinois, one of the leading design teams for retail stores.”

Gladson was able to work closely with Phoenix in determining their needs and creating a space to fit those needs.

When it came to the redesign, Mr. Grundm|0xfc|ller says: “We wanted a new, modern look. We wanted to be a great consumer electronics store, offering anything you can carry out in a bag.”

The results have been fantastic, complemented by bright lighting, open space, a modern design and accented in lime green and orange.

One of the greatest benefits was the possibility of integrating P-Tech with the main store. Originally, the Phoenix Stores offices were housed behind the original Stuart’s.

Fortunately, the opportunity arose for the offices to move upstairs at the end of October last year, making way for the creation of a new wing of the drug store, housing newspapers, magazines and small appliances.

“With opening that up, we were able to combine the two stores. There are now four entrances to the Phoenix, which give an open flow of traffic, and we integrated P-Tech with an automatic glass door.”

The new addition to the main store increased its floor space by 40 percent, says Mr. Grundm|0xfc|ller, and moving the periodicals to the new section allowed for another major change — doubling the size of the pharmacy, complete with private consulting booths that can be used for consultations with pharmacists, health screenings and by charitable health groups.

“It was our objective to improve our product offering,” Mr. Grundm|0xfc|ller divulged.

The company conducted extensive market research and found that the one thing most people missed was the old Knick Knack store, particularly its offerings in the kitchen and home section, which influenced many of the new products available in the drug store’s new section behind P-Tech.

There are also plans to add coolers in the front of the store with drinks, snacks and pre-packaged sandwiches, produced in partnership with Cafe Paradiso.

What is most amazing about the transformation is that the store was refitted in a space of just four weeks with minimal interruption to sales, courtesy of the hard work of Ricky DeSilva’s team at A&R Construction.

Mr. Grundm|0xfc|ller attributes the success to his staff.

“I think we have an absolutely fantastic team of people. We couldn’t do it without them.

“I’m a strong believer in change. Retail changes all the time. It’s important to reconsider all the time what you are offering.

“We, at the Phoenix Stores, “We, at the Phoenix Stores, are committed to changing and refurbishing our stores every seven years because after that time a store starts to look tired.”

The company now offers 125,000 different items, and to manage it, they have also installed a state-of-the-art point of sale system.

“You could not keep up with all of these items without technology these days. It’s supply chain management. You know at all times where your goods are from the manufacturer to the shelves.”

The company works closely with local wholesalers, particularly sister company, BGA.

“We are constantly looking for new opportunities. We are constantly evaluating products and expansion possibilities.”

Mr. Grundm|0xfc|ller is thankful for the opportunities the Phoenix stores have had, especially in light of recent closures of major local retail outlets.

“There is a crunch for good retail space in Hamilton. I believe the heart of retailing is lower Reid Street.

“I personally would like to see Reid Street pedestrianised. I believe with pedestrianisation, Reid Street would become the ‘living room’ of Hamilton.”