Experiential Retail Done Right
Finally, experiential retail is on the right track.
Canada Goose, an extreme weather clothing manufacturer, launched a Cold Room concept at many of its retail outlets in 2018. Customers could try jackets under different temperatures in the Cold Rooms, even in the summer. The concept was refreshing, but more importantly, the brand was helping customers make better buying decisions through a useful experience.
When “experiential retail” became a marketing buzz word, brands began trying many different things. As long as the methods brought customers into the stores, they were considered successful experiential retail strategies. But I think this approach is merely a quick fix and reveals a lack of foresight.
Experiential retail is more than just a gimmick. It must also be useful, so that when the novelty dies, the experience offered by the brand remains relevant. Brands can expect to see a real return on their investments. But this will require wisdom.
Brands need to think deeper about what they stand for, what their customers’ decision-making processes are like, and how to marry the two in order to create a relevant experience for existing customers and potential customers. Porsche is another brand that has given a lot of thought to their experiential strategy. Check out my previous blog post about Porsche’s experience centre.
Because of COVID-19, consumers have become used to shopping online. But your customers will not stay indoors for long. Most of them want to leave their homes, meet their friends and hang out.
There is a lot of pent up motivation to leave the house once the lockdowns end. But consumers have a myriad of choices. Retail brands must therefore provide even better and more relevant experiences to entice their customers to step into their shops.
Are you looking for a good strategy to attract customers into your shop? You don’t need a grand idea. But your idea definitely needs to be useful and relevant to your customers.
Angeline Tong is an architect of narratives and Chief Curator at HOL, an experience strategy and curation consultancy. Angeline has a Master of Education (Human Development & Psychology) from Harvard Graduate School of Education and a Post-Graduate Diploma in Museum Studies from Harvard University. She currently resides in Singapore.
To contact Angeline, email atong@hol.sg
