A Conversation with Lauren Henry.
Meeting Lauren Henry
I first met Lauren years ago at a trade show, and we’ve stayed connected ever since. Lauren’s journey in the retail business is both inspiring and insightful, and I believe her experiences can provide valuable lessons for retailers, brands, and creatives trying to understand the business side of running their ventures.
Lauren’s Retail Journey
Lauren opened her first store in 2014, after a career in fashion design. Originally from Sydney, she’s now based in Newcastle and owns two stores. What stands out about Lauren is her love for the creative side of retail, such as merchandising and curating the store space.
The Challenges and Rewards of Retail
In our conversation, Lauren and I delved into the challenges and rewards of working in retail. We discussed the importance of creating a welcoming and energizing atmosphere in the store. Lauren shared her experiences managing two stores in Belmont and Hamilton, which, despite being only 20 minutes apart, cater to different customer bases.
Catering to Different Customer Bases
Lauren’s stores attract both locals and tourists. The Belmont store, located by the lake, draws in travelers and people visiting family in the area. Interestingly, Lauren noted that the busiest week for the cafe is between Christmas Day and New Year’s Day, while the retail side is busiest leading up to Christmas Eve.
Balancing Business and Personal Life
Lauren also shared her approach to balancing business and personal life. She now takes a week off during the holiday season to spend time with her kids. This is a reminder that even as business owners, it’s essential to take breaks and recharge.
Communicating with Buyers
We also discussed the best ways to communicate with buyers. Lauren prefers text or email communication over phone calls, as she is often busy on the floor attending to customers. She emphasized the importance of pricing, as it helps her understand the margin and determine if a brand is a good fit for her store.
Building Relationships with Wholesale Brands
Lauren shared her experience of starting with a small order and gradually growing it to become a significant customer. She emphasized the value of the connection and collaboration between the store and the brands, including the support they provide with merchandising and props.
The Importance of Brand Stories
Lauren also highlighted the significance of brand stories and how they influence her buying decisions. She tries to pass on these stories to her staff to create more authentic conversations with customers.
The Art of Styling and Curating Spaces
Lauren’s talent for styling and curating spaces is evident in her stores. She admitted her fear of transitioning into a service-based business but expressed her long-term goal of pursuing styling.
Retail and Mental Health
Lauren reflected on why she owns a retail store despite her dislike for excessive consumption. She believes that creating organized and aesthetically pleasing spaces can have a positive impact on mental health.
Conclusion
My conversation with Lauren was a deep dive into the world of retail, from managing different customer bases to the importance of brand stories and the art of styling. It was a reminder that retail is not just about selling products, but also about creating experiences and connections. I hope you found this conversation as insightful and inspiring as I did.
*Since we recorded this podcast Lauren has closed her original Belmont store and is focusing on growing her Hamilton store. She also has a studio space available to hire.
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Common Circus
148 DENISON STREET
HAMILTON NSW
(ACCESS VIA DIXON STREET CUL-DE-SAC)
You can shop at https://commoncircus.com.au/
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Time stamp of podcast.
The journey from one store to two (00:04:06)
Lauren discusses the expansion of her retail business from one store to two, including the addition of a second store during the COVID-19 pandemic.
The role of coffee in the store (00:05:23)
Lauren explains how she incorporated coffee into her retail stores to create energy, buzz, and a sense of community, as well as fostering conscious shopping.
Differentiating the two stores and rebranding (00:10:36)
Lauren talks about the differences between her two stores, including the size, focus on retail or cafe, and the decision to rebrand the stores to reflect their unique offerings and creative merchandising.
The challenges of attracting customers to different store locations (00:11:14)
Discussion about customers not traveling far from their own community and the difference in customer base between the Belmont and Hamilton stores.
The busiest week of the year for the cafe (00:12:17)
The increase in tourist and visitor traffic during the summer and holiday period, with the busiest week being between Christmas Day and New Year’s Day.
Managing staff and operations (00:13:40)
The number of staff employed, the presence of managers and team leaders, and the importance of having an operations manager and shift leaders.
The importance of communication with buyers (00:22:59)
Discussion on how brands can effectively communicate with buyers and the challenges faced in the process.
Preferred methods of communication for buyers (00:24:06)
The preference for text or email over phone calls, and the importance of setting up a specific time for a call.
The significance of pricing and margins for retailers (00:28:41)
The impact of pricing and margins on retail stores, including the need for sufficient margin to cover costs and the consideration of margins when selecting brands to stock.
The role of wholesale in building a relationship with suppliers (00:34:16)
Wholesale can start with a small order and grow over time, building a strong relationship with suppliers.
The importance of merchandising and storytelling from brands (00:35:12)
Brands that provide merchandising props and share their story through emails and information stories are preferred by the store owner.
Challenges and strategies in buying unique products (00:39:02)
The store owner enjoys the challenge of finding unique products by attending trade shows, receiving emails, and searching online platforms.
The role of creating spaces (00:45:40)
Lauren discusses the importance of creating spaces that feel right and how it affects her mental health and daily life.
Merchandising your life (00:49:49)
The concept of merchandising your home and creating little moments that feel good and look amazing in different sections of your life.
Juggling multiple responsibilities (00:51:30)
Lauren shares tips on managing time and juggling multiple responsibilities, including relying on a support system and letting go of trying to do it all.
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