How Experiential Retail is Disrupting an Industry
The retail industry is undergoing a major transformation as e-commerce disrupts traditional brick-and-mortar store models and gives rise to new modes of “experiential retail.” The experiential retail trend is being driven by a number of factors, including the increasing popularity of e-commerce, the decline in traditional department store traffic, and the proliferation of mobile devices.
Just as e-commerce pioneers like Amazon.com provided exceptional online customer experiences, experiential retailers are reinventing the in-store experience, creating environments that attract and delight consumers through features like spas, cafes, theaters, art exhibitions, and a host of other amenities, along with personalized service, in-store kiosks, 3-D experiences, pop-up shops, mobile commerce, and more.
A key element of experiential retail is the innovative use of technology to provide interactive and immersive experiences. Retailers are employing artificial intelligence (AI), virtual reality (VR) and augmented reality (AR) to give shoppers experiences that engage, inform and entertain.
Bart Mroz is CEO at SUMO Heavy, a digital commerce strategy firm. The company builds, connects, expands and invests in growing online retailers. This group of experienced strategists, consultants, designers and developers works to build solid brands and to create effective online retail solutions. Bart is an expert in e-commerce, business consulting, and technology strategy.