Tips to Help Your Brand Get Experiential Retail Right
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” — last week's bankruptcy filing by Sears speaks to that trend. Experiential retail is being driven by a number of factors, including the increasing popularity of e-commerce, the decline in traditional brick-and-mortar store traffic, and the proliferation of mobile devices. Traditional retailers now realize that these external pressures are necessitating them to evolve their stores beyond merely a place to transact. Today's consumers value experiences, and they're choosing to shop with retailers that are meeting this need.
To further address the trend of experiential retail, including the impact of technology on the in-store shopping experience, identifying different types of experiential retail, tips for brands on how to create their own unique in-store experiences, and a look at what experiential retail means for the future of the industry, Total Retail recently produced a new report, The Ultimate Guide to Experiential Retail.
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.
Consumers are demanding more than ever from retailers, and that extends in-store. Retailers can no longer only offer a friendly interaction with a sales associate complemented by a high-quality product and expect a satisfied customer. Now, they must also provide an immersive customer experience that keeps them coming back. For more helpful information on how they can do just that, download Total Retail's Ultimate Guide to Experiential Retail today!
Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.