Today, in this article we will be answering the three most important questions when it comes to the empiric accuracy of retails. The questions are as followed:
- The rise of experiential retail?
- What is experiential retail?
- Why choose experiential retail?
Answer to Query 1
Customers want their visits to experiential retailers to be memorable. They can connect with customers more deeply and engage with them more interactively with this technology. They can also influence customer behavior through this technology. The customers can inform the brand directly what they think about its products.
Our shopping experience has been forever changed by technology. Using your smartphone, you can order anything you need the very next day, and it will be delivered to you. It has become essential for brands to stand out from the competition. This can be achieved through immersive engagement. This will help you become more competitive in the market and ultimately increase your brand loyalty.
Answer to Query 2
The trend of experiential retail means that offline traditional stores can create an interactive environment while incorporating shareable experiences. The brands can engage with consumers here and directly interact with them using live marketing. Sales are not the main focus here, but instead engaging directly with the consumers. It is in the brand’s best interests for their customers to remember them and enjoy their shopping experience, as if the customer is happy, it will directly benefit the brand in the long run. It is becoming more and more important for offline/traditional stores to offer physical experiences for their customers. In many cases, we can do the same thing online in the comfort of our own homes if we have to buy in a store. As a result, fashion brands are moving towards experiential retail as a means of remaining relevant in an increasingly competitive retail setting.
Answer to Query 3
Retail has undergone huge changes in the last decade, leading to both online and offline stores taking advantage of each other for improved and more evolved experiences. We have all noticed the buzz around AR and VR, and brands have started offering 3D trials on their platforms. When customers experience an emotional connection, they are always more likely to return and tell others about their experiences. Customer referrals are particularly effective.
The brand is more likely to be known to the public through word-of-mouth publicity. Personalized facilities tend to be popular among consumers, and they will eventually benefit your brand since they will choose to buy from you online or offline. It doesn’t have to be complicated. You can keep it simple and imaginative while keeping it interactive and engaging. Customers want great memories for a lifetime, so brands are searching for ways to create innovative experiences for them.
Creating alluring experiences for customers in a physical store could include:
- Limited edition sales, pop-up stores, and small kiosks in prime mall locations are options for technology brands and beauty brands. By implementing this activity, a brand can get instant traction while also reaching the masses.
- The importance of engaging with customers cannot be overstated. Let your knowledgeable staff help you engage customers. When a customer needs assistance during their shopping trip, they are loyal to the staff who assist them. So, it would be very beneficial if you had a well-trained staff that understands the needs of your customers.
- Augmented Reality and Virtual Reality will be available to you when you need them. These technologies will make your experience unique and exciting. As a result of the innovative approach and the wonderful experience, the brand recall will increase.
Retail brands are also trying to inculcate experiential retail into their stores to take center stage in the industry. Offline stores are offering authentic experiences to their customers, rather than transactional ones when online stores are working to establish a good online presence.
Retailing experiences, however, go far beyond fancy technology. It’s about creating an experience that is tailored to each individual. The topic is something you need to investigate and include in your strategy.
SOURCE:
https://www.fibre2fashion.com/industry-article/9226/the-rise-of-experiential-retail
Image Courtesy:
- https://unsplash.com/s/photos/retail
- https://www.pexels.com/search/retail/
- https://www.drapersonline.com/insight/store-design/what-works-in-experiential-retail
Written By: Rafiad Ruhi
