E-commerce, on the other hand, is apparently thriving, especially for Millennials, and is being hailed as the new way to shop. I\u2019m not entirely convinced that this alleged apocalypse is really occurring but a transformation of the retail space certainly is.<\/p>\n
Experiential Shopping<\/h3>\n
Eschewing clothes and accessories shopping, consumers are now spending more of their income on restaurants, entertainment and technology. Therefore, it makes more sense for retailers to create stores that offer something different yet also builds or strengthens a connection between the customer and the label. Perhaps something that creates a sense of urgency and excitement is required.<\/p>\n
However, it must not be forgotten that humans still respond favourably to the same real-time shopping experiences.<\/p>\n
Things such as memorable, convenient experiences, outstanding customer service, interesting visual design and straightforward shop layouts are still important and offer a quality that cannot be found online.<\/p>\n
Savvy retailers will continue to use the shopping experiences of their customers for marketing purposes. By collecting information from personal shoppers it will be used to re-target them for future sales.<\/p>\n
This transformation of the retail stores footprint can be attributed to three factors:<\/p>\n
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- Balancing online and offline transactions,<\/li>\n
- Creating more meaningful experiences and<\/li>\n
- Shifting business models.<\/li>\n<\/ul>\n
Other industries such as travel, wellness and technology are maintaining saliency within their sectors by providing an engaging consumer experience.<\/p>\n
Examples of stores that give experience<\/h4>\n
Consider the Apple store with its enticing gadgets. How is it possible that one hour spent there feels like a minute? The beauty industry similarly and consistently engages consumers with in-store makeup demonstrations and experiences.<\/p>\n
Sephora<\/a> has gone one step further to blur the physical retail experience with the virtual digital one. They have produced the Sephora Virtual Artist which has allowed them to create a holistic consumer experience that integrates their online and offline offering.<\/p>\n
Saks Fifth Avenue recently moved their beauty department to the second floor, from the ground floor. They have created a luxury spa-like beauty hub that they hope will entice a more loyal customer who luxuriates in the beauty experience.<\/p>\n
The window to the apparel consumer experience is definitely online based. It could be likened to a magazine where you browse for the product but have the added benefit of pressing a button that says BUY.<\/p>\n
Related reading:<\/strong>\u00a0How to Best Connect With Retail Buyers and Stay in Touch?<\/a><\/h5>\n
This window is the portal to other experiences that should keep customers coming back for more. Examples include, an exciting space that allows customers to buy online and pick-up in-store (BOPIS)<\/strong>, have a manicure, socialize with friends in the caf\u00e9 and have personal tailoring and styling sessions.<\/p>\n
Merely selling a product isn\u2019t enough in this day and age of Omni-channels. Consumers want to immerse themselves into their favourite brands\u2019 story to further connect themselves to their purchases.<\/p>\n
The California-based Nordstrom recently opened a shop that replaces the product for the experience. They did this to take the important step of further appealing to consumer\u2019s personal needs and to also reach their customer in a digital age.<\/p>\n
Retail & E-tail<\/h3>\n
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