Honolulu, Hawaii (The Adobo Chronicles) – For cities in the U.S. mainland, there is a Starbucks coffee shop in every street corner. In Waikiki, there is an ABC Store not just in every street corner but two or three within the same block. These 7-Eleven type retail shops are among the most recognizable tourist traps in Waikiki.
That is about to change. Beginning on January 1, 2015, all ABC Stores marquee signs are coming down and will be replaced with “XYZ Stores,” thanks to the brilliant marketing strategy of the developers of the upcoming and upscale International Market Place on Kalakaua Avenue in Waikiki.
The developers are responsible for the demise of the old and historical International Market Place, nestled in the middle of Waikiki that featured cottage-type stalls under banyan trees, selling wares from Aloha shirts and kukui nut leis to fresh-cultured pearls and ukeleles. The demolished site is now being reconstructed and a new, multi-level shopping complex will rise featuring high-end retail establishments like Saks Fifth Avenue.
As part of the overall marketing strategy for the new complex, the developers have proposed to change the name of all ABC Stores to XYZ Stores in order to attract more shoppers belonging to the X & Y (Millennial) generations. “The baby boomers are getting older and the future of retail shopping is now in the hands of the younger generation,” the developers said.
Only the store signage will change. XYZ Stores will still sell souvenirs, t-shirts, chocolates, coffee, sunscreens, flipflops, beachwear as well as food & beverage.
The cost of replacing the store signage from ABC to XYZ will be borne by the International Market Place developers. A true investment for the future.