- \n
- John Lewis<\/strong><\/a> unveiled Experience Desks, offering a wide range of activities from beauty treatments to candle-making, rooftop yoga and even a private, after-hours shopping experience.<\/li>\n
- Debenhams<\/strong><\/a> is opening Sweat! in-store gyms in some stores and may add beauty services and in-store caf\u00e9 events.<\/li>\n
- IKEA<\/a> <\/strong>experimented with pop-up kitchen and Christmas stores and most recently tested Friday-night-in delivery packages including IKEA food and merchandise.<\/li>\n<\/ul>\n\t
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Other retailers have stepped up the in-store experience through richer content, such as virtually trying products through virtual reality (VR)<\/strong> or augmented reality (AR)<\/strong>, or creating branded pop-ups within their spaces where customers can invent and play with products. By adding elements to stores such as restaurants, salons, demo rooms and public spaces, and then offering classes, events and unique experiences, retailers are seeking to create deeper, more emotional connections with customers.<\/p>\n
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<\/a><\/p>\n\u201cAs shoppers, when we have good experiences, emotions are unleashed that trigger positive buying and loyalty behaviours, which ultimately lead to revenue,\u201d Laura Davis-Taylor, Co-Founder of HighStreet Collective, told Retail TouchPoints<\/em> for its Top 5 Trends Driving Retail Innovation<\/a> report. \u201cIf your brand can\u2019t compete against Amazon\u2019s chokehold on convenience \u2014 and most cannot \u2014 it is with this approach that retailers win.\u201d<\/p>\n
Consumers weigh\u00a0in<\/strong><\/h2>\n
According to research<\/a> by the U.S. National Retail Federation<\/a>, consumers are enthusiastic about experiential retail:<\/p>\n
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- 82% of shoppers who attended a retailer event in the last year say they are interested in similar events in the future.<\/li>\n
- 60% of Gen Z prefers events by retailers they already shop, while 61% of Millennials prefer to discover new retailers through events.<\/li>\n
- Early\/exclusive access to items or a sale (87%), a party (81%) and a product demo or tutorial (80%) attract the most consumer interest among different types of events.<\/li>\n
- 36% of those who gifted an experience said they found inspiration in a retail store.<\/li>\n<\/ul>\n
Retail leaders need to establish organisational structures such as innovation labs but also endorse and promote idea generation across the organisation. <\/a><\/span>Click To Tweet<\/a><\/span><\/blockquote>\n
Embracing experiential retail<\/strong><\/h2>\n
But it\u2019s not enough to simply see what works for other retailers and follow suit. Retailers that have truly succeeded in adopting a customer-centric reinvention of the brand experience follow these steps to create their own twist on experiential retail<\/a>:<\/p>\n
- \n
- Foster a culture of innovation<\/strong>. According to RSR<\/a>, retailer \u201cwinners,\u201d those with comparable store\/channel sales growth greater than 4.5%, are much more likely than others to agree that they are more innovative than competitors (59% vs. 21%). They also acknowledge that more experimentation will help them improve their shopping experience (61% vs. 36%). Retail leaders need to establish organisational structures such as innovation labs but also endorse and promote idea generation across the organisation.<\/li>\n
- Fail fast<\/strong>. Pursuing quick, small tests of new concepts can quickly make clear what ideas have legs and which do not. To make this work, the culture must tolerate and even expect failure. Clear goals and key performance indicators are essential to evaluate success.<\/li>\n
- Seek feedback<\/strong>. Retailers can gain buy-in and create feedback loops to nurture and refine new ideas by fostering a community of fans who take an active interest in the brand. Peeling back the curtain creates buy-in, persuading customers to both offer suggestions and provide quick feedback on what works. Retailers can also passively collect insights on new concepts through technologies such as heat mapping, sensors and cameras.<\/li>\n<\/ul>\n
An experiential future<\/strong><\/h2>\n
Analysts are confident that experimentation and experience represent the path forward for brick-and-mortar retailers, particularly as Millennials and Gen Y bring new sensibilities to shopping. By transforming their cultures and experiences, retailers can also transform their bottom lines.<\/p>\n
Check this article:\u00a0Conversational AI: Customer Engagement in the Age of Messaging<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
- Fail fast<\/strong>. Pursuing quick, small tests of new concepts can quickly make clear what ideas have legs and which do not. To make this work, the culture must tolerate and even expect failure. Clear goals and key performance indicators are essential to evaluate success.<\/li>\n
- Foster a culture of innovation<\/strong>. According to RSR<\/a>, retailer \u201cwinners,\u201d those with comparable store\/channel sales growth greater than 4.5%, are much more likely than others to agree that they are more innovative than competitors (59% vs. 21%). They also acknowledge that more experimentation will help them improve their shopping experience (61% vs. 36%). Retail leaders need to establish organisational structures such as innovation labs but also endorse and promote idea generation across the organisation.<\/li>\n
- Debenhams<\/strong><\/a> is opening Sweat! in-store gyms in some stores and may add beauty services and in-store caf\u00e9 events.<\/li>\n