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Create a Retail Experience Customers Are Willing to Pay For

Create a Retail Experience Customers Are Willing to Pay For

According to a 2016 consumer survey, 67% of the respondents said enjoying experiences is more important to them than owning things. Interestingly, 61% said they will pay a premium for experiences they feel are worth it, a trend that extends to all income groups and generations.

Retailers in tune with these statistics are drawing more shoppers into their stores by transforming their physical locations into a fun, interactive experience.

While some retailers, like Williams-Sonoma and REI, started offering in-store cooking experiences and rock climbing walls early on, more retailers are finally catching on to this trend. Barnes & Noble, for example, is opening full-service restaurants in their stores, and Toys“R”Us is creating interactive play areas for both parents and kids.

“Interactive retail is a great way to engage with clients and get them to think about retail stores as more than just places to buy particular products. From the retailer point of view, you want people to enjoy the experience of shopping in your store so that they return even when they don’t necessarily have a specific need or purchase in mind.”

 

Source: Trend Hunter 

Why is that? As i-SCOOP explains it:

“The in-store customer experience matters even more than in the past, with consumers wanting more engaging and personalized experiences.”

Synchrony Financial points out that even online retailers are going brick-and-mortar so they can appeal to the consumer’s desire for an immediate purchase and an exciting experience.

Providing customers with a more interactive experience isn’t just for their benefit, though. Here’s why:

“Retailers who use their in-store space for interacting with their customers can expect a more dedicated following and larger baskets. When having a great experience in the store, customers stay longer, browse more and have more of an emotional connection with the brand.”

 

Source: Synchrony Financial

“Today’s consumer is firmly in charge expecting a world where they can shop where and when they want,” states an infographic by Retail Week and BT. “Retail needs to adjust to these online, digital-savvy shoppers and transform the [retail] experience.”

Interactive retail is limited only by the imagination and fearlessness of retailers and their branding agencies. The technology available today provides innumerable ways of incorporating multimedia to create an interactive retail experience for shoppers.

“Ultimately, the goal of interactive retail is to remind shoppers that the particular retail store isn’t just a place to buy things, it’s a place to experience things. Once shoppers begin to associate a retailer with positive experiences, they’re inevitably more likely to buy something from there as well.”

 

Source: Trend Hunter

About The Author

Sherene Funk

Sherene Funk is the author of the contemporary romance Autumn in Your Arms and two small business e-books. She is a voracious reader who owns more books than she can ever read in this lifetime. A graduate of Brigham Young University, she worked in advertising for many years before moving to her current writing position at Rain Retail Software. She researches non-stop to see what successful retailers do and loves to share what she learns with small business owners.

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