An Experience Worth the Effort

For consumers, a trip to your store has to be worth the effort, time and expenditure, offering an experience that surpasses the convenience of simply buying online from the comfort of home. As a retailer how far do you go and how much do you invest to meet these needs, especially considering the current economic conditions.

It’s worth noting that from a macro perspective, things are not all doom and gloom. People are shopping and spending. The latest ONS data showed positive results for retail with a surprisingly large rise in retail sales for the month of February, the result marking the second consecutive month of industry growth. Volume sales were up by 1.2% against forecasts of 0.2% and once again shows the resilience of the UK consumers against an unrelenting cost of living crisis.

Hopefully, this positivity isn’t just a blip, but even so, it’s fortunate that in the ERT world of ‘considered purchases’ - purchases made with significant financial or emotional thought - there is simply no match for the timeless ability of an in-store experience to engage all the senses and stimulate sales. This is particularly the case for consumer electronics and home appliances - categories with products that often require a high spend and technical questions that need to be answered as well as having to fit in with our homes and lifestyles.

True experiential retail as a strategy goes further than this though and could be defined as an approach where physical retail spaces offer additional experiences beyond browsing or buying products. It directly engages customers, inviting them to experience your brand live and in-person. Pop-up events, masterclasses, brand takeovers and hosting community events are all examples of experiential retail that may or may not work for you.

What is undeniable though is that customers now expect more. Research in the US found that 91% of consumers would be more inclined to purchase a brand's product or service after participating in a brand activation or experience, and 40% felt they become more loyal to the brand.

To read the full article by Rupert Cook, Marketing Director please visit ERT Online