The idea around experiential retail stems from the modern consumer’s desire to get more out of the shopping experience than just a product. Research last year from PwC found that consumers aged 18-34 are more interested in spending their money on experience-related purchases. Those experiences in turn fuel the experience economy (pdf) by channeling spending and leisure time to social experiences rather than material possessions.
To harness these trends, retailers are altering the way in which they deliver customer service to meet the changing expectations of these experiential consumers. They are creating new and innovative shopping experiences such as cooking classes and running clubs that deliver unique experiences each time shoppers enter their stores.
However, figuring out how to recreate these experiences online isn’t so easy. That’s where some insights into what digital experiences customers really want and what strategies retailers should implement to best reach experience-driven shoppers can be very useful.
To that end, our team has identified four experiences that today’s customers really want and created some strategies for addressing those needs across in-store and online touchpoints. Read
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