| Faith Popcorn exploited the concept of | | | | offer merchandise that enables your customer to |
| “Cocooning” in her early 90’s book of | | | | make a mental connection with Cocooning? Here are |
| the same name. High gas prices at the time as well | | | | some examples of merchandise lines that work well: |
| as the spike in housing motivated people to save | | | | -Hardware and building stores can promote |
| money by staying home and indulging in activities that | | | | beginner’s woodworking tools as consumers |
| capitalized on their investment and avoided expenses | | | | work at home improvements |
| outside of the home. | | | | -Grocery stores can open seasonal garden centers or |
| The internet was in its infancy so new computers | | | | sections as families focus on yard enhancements at |
| were making their way into most households as well | | | | low cost |
| as large screen televisions, gas barbecues and even in | | | | -Clothing stores can focus on apparel appropriate for |
| ground swimming pools. Families spent money on | | | | gardening, deck entertainment or outdoor work |
| renovations and other upgrades to their homes that | | | | -Electronic stores can expand their line of home |
| could be enjoyed every day and would only increase | | | | entertainment, computing and gaming merchandise |
| the value of their dwellings. | | | | -Specialty food stores can offer pre-made foods that |
| Today, in our new economy, families are once again | | | | can be put straight in the oven or grilled. This is a |
| revisiting the cocooning phenomenon, albeit for | | | | great labor saving idea for families who still like |
| different reasons. It just makes sense to have fun | | | | convenience at home but have reduced dining out |
| with the family in the safety of your own home | | | | -Home decor stores can expand into entertainment |
| while saving money in these challenging times. These | | | | centers, home offices, computer hutches and other |
| days, going to the movies or dining out is becoming | | | | products that enhance the home |
| prohibitively expensive and a meal for two out on | | | | Virtually every retailer can step back and examine |
| the town can feed a family of six quite nicely at | | | | their product line and expand into merchandise that |
| home. A few fun filled at home barbecues will pay | | | | enhances Cocooning. Swine flu (at the time of |
| for that new grill in just a couple of months! Similarly, | | | | writing), travel risks, high outside expenses and tight |
| that seemingly expensive big screen television will | | | | budgets makes staying at home and making the |
| pay for itself in less than a summer of movie | | | | most of it a logical strategy that will likely be popular |
| excursions. The family’s broadband internet | | | | for a few years to come. |
| connection offers a wealth of information and | | | | What products can YOU introduce, expand and |
| entertainment as well. Computers, laptops and all the | | | | promote in your store to answer the Cocooning |
| peripheral equipment will get well used and add more | | | | needs of your customers? |
| options to the family that stays at home and plays | | | | I |
| at home. | | | | Take Action Today: |
| Today, many families feel justified in spending their | | | | 1) Review this critical concept and trend with your |
| hard earned money on home entertainment | | | | sales teams. Brainstorm with employees to focus on |
| enhancements that will save them money in the mid | | | | offering products that cater to enhancing life at |
| term and enable them to enjoy their homes even | | | | home for the family. |
| more, as they curtail travel, long distant vacations | | | | 2) Aggressively advertise and promote |
| and nights on the town. Not surprisingly, restaurant | | | | “Cocooning” products. Consider placing them |
| and movie attendance is way down, as well as air | | | | on sale for limited periods. |
| travel. At the top of the list is the demise of | | | | 3) Design sales presentations to customer around the |
| Recreational Vehicle sales as dealer after dealer | | | | benefits of home life and the perceived savings. |
| closes their doors. | | | | Make the customer aware that “Cocooning” |
| If this is the current mentality of the consumer, | | | | Products enhance the quality of home life and save |
| where does YOUR STORE stand when it comes to | | | | money in a short period. |
| catering to the Cocooning phenomenon? Do you | | | | |