Experiential Retail has arrived.
The traditional model of in-store retail focused on products being sold. Consumers have been moving away from solely shopping for products, instead seeking a more engaging experience. This trend is driven by millennials and their preference for experiences over things. (Forbes)
Here are a few ways you can create an experience in your store:
- Keep a tester candle burning at all times, creating a fun and inviting atmosphere for your customers.
- Offer a fresh beverage to your customers when they enter and make every day a shop and sip event worth documenting on their social media!
- Order blotters and allow your customers to dip them in the reed diffuser oil of different fragrances to make home fragrance shopping experiential.
- Create a Votivo pop-up shop with a special seasonal display and gift bundle suggestions.
Multi-channel is Mainstream.
- According to Big Commerce, 11.8% of Gen-Z shops on Facebook, 25% of Baby Boomers shop on Facebook, and Millennials prefer shopping for brands they discover on Instagram or Snapchat.
- Harness the power of social media and reach each of these customers by partnering with Votivo for a social media giveaway.
- Create the brand presentation Votivo customers expect from their experience with us online by following our merchandising guidelines.
- Direct customers to our fragrance finder quiz on the site to help them choose a scent they'll love!
Sustainability is a new focus.
- It's no surprise that sustainability has become a focus for retailers, as it's one of the most pressing topics for customers world wide.
- As a result, many companies are taking note, providing opportunities for customers to go green with reusable shopping bags, earth day events, and investments in non-profits that benefit the earth.
Retail as a service expands.
- Retailers are looking at methods for crafting a more personalized experience for their customers, for good reason. Accenture and the Retail Industry Leaders Association have released statistics that 63% of consumers surveyed are interested in personalized recommendations.
Loyalty becomes a life link.
- In 2018, major retailers made loyalty program participation easier by changing existing loyalty programs to those without required credit cards and by consolidating loyalty programs s that just one opt-in is required.
- In addition to simpler participation, retailers have upped offerings for loyalty program members. Consider how a loyalty program might affect your customer retention rate and increase overall lifetime value of your current patrons.
