Welcome to the first iteration of our Release Notes series.
On that note, did you even read the introductory blog post explaining what we’re doing with the Release Notes series? It’s absurdly wordy, but will likely make you feel productive about your day. Read it, maybe. Or don’t. The summary is that we’re going to start doing this: the article you’re reading. Wow.
August was a busy month. (September and October will be much more chaotic, so this is a good point for us to start this journey together.) Over the 31 day month, we saw:
- Locations Open: 1
- Locations Under Construction: 1
- Average Dwell Time: 30m 8s
- Total active brands: 42
- Brand Launches: 4
- Brand Exits: 4
- Events: 8
- Moves: 39
- Products Inbounded: 1,362
- Burgers flipped: 207
Looking at the numbers, there are a few highlights for me.
First, in terms of locations under construction, we’re at a resounding “1.” Although that may sound obvious, it’s a big moment for us. And the beginning of a very hectic period looking ahead. (This number, spoilers, is set to grow to “2” rather imminently, representing a full 100% growth curve. Off to a great start.)
Second, for dwell time, we’ve continued to experiment with different concepts to encourage our retail visitors to spend a bit more time in the store. I’ve always talked about the importance of creating a sense of magnetism to our room and, since the introduction of our Taschen x Burrow library, we’ve seen real drive momentum in that regard. Seeing people spend upwards of 30 minutes in a relatively small and incredibly open retail space gives us a lot of joy.
Third, at the end of August, we had 42 brands in the room, after conducting 4 brand launches and 4 brand exits in August. For context, when we opened in November 2018, we had 24 active brands and, although I haven’t firmly investigated (read: haven’t investigated at all), I strongly suspect that’s the most amount of brand exits we’ve had in a month so far. On the surface, that might sound like an odd thing to boast, but, inasmuch as we’ve designed a space to have all sorts of entrances and departures, we’ve just not had that many departures so far.
Fourth, in terms of moves (i.e., re-designing the space, remerchandising, etc.) and quantity of products inbounded, we had 39 and 1,362 respectively. In a relatively small period of time, that’s a lot of adjustment and it’s a lot of new products to introduce.
Looking ahead — which is easy, because this is being written in mid-September — we have a lot of brands incoming. One of the bigger launches, a story that’ll never be adequately told by a number on a page, will be Dollar Shave Club. (We built a fully working sink, amongst other features!) We’ll share more about that process, stares directly into the camera, Next Time.
Matt Alexander, Co-founder & CEO