Experiential retail immerses consumers in the brand to create an elevated shopping experience. By offering a deeply curated environment, retailers bet that the immersive experience will drive long-term loyalty and sustainable word-of-mouth marketing that a traditional format may not.
The 1 factor most likely to drive repeat visits is a pleasant store experience, followed by a good layout, uncluttered environment, and fast checkout—all key aspects of the experiential model.
Perhaps the greatest advantage of the experiential model is that it enables customers to attain a deeper understanding of a company’s products and their value proposition.
Creating excitement and convenience can serve to boost foot traffic and potentially a company’s top line.
Considering that upwards of 13% of all sales are driven through word-of-mouth advertising, a great shopping experience can have a cascading effect on a brand’s top line for years.
While it might be too early to say if experiential is a viable network-wide strategy, there are certainly elements of this practice that can and should be cascaded across a store fleet. In a sector as saturated as consumer and retail, it’s worth exploring some of the tactics that can build rapport with your consumer base and keep your business ahead of the competition.