Re-Imagining Space; The Future Of The In-store Experience
BA Honours in Fashion Communication,
Northumbria University, Newcastle
I was surprised to learn that Generation Z actually prefer shopping in-store to online, despite them having grown up with technology as the norm. This all comes down to experiential value as many Millennials appear less materialistic than previous generations and prioritise experience. Research from Eventbrite (2016) supports this, stating 78% of Millennials would choose to spend money on a desirable experience or event over buying something desirable. With their world a touch away on a smartphone, is it any surprise that generation Z seek some respite in something that is actually physical rather than just digital?
As a response to consumers increasingly valuing their time in-store, many retailers are enhancing their in-store experience in these ways:
This revolutionary concept breaks free of notions that stores must be designed as spaces where products are stocked and transactions can be made and instead makes building relationships central to their experience.
In the form of a showroom, consumers can see, touch and feel the products before purchasing items digitally, having them delivered the same day. This store offering could appeal to the 62% of shoppers who say they visit stores to “see, touch and feel products before buying them online”, (Retail Dive, 2017).
In an increasingly interconnected world, our lives are shared with our network of friends and contacts so social shopping makes social engagement central to its experience. This is done by brands holding events and providing entertainment within the space; anything to drive conversation around the brand or product. Social shopping impacts an individual’s buying process by using social engagements to share, recommend, suggest and comment on products or services. The idea behind social shopping is that individuals are influenced by their friends' purchases and recommendations.
To satisfy demand for bricks and mortar stores to distinguish themselves from online retailing, consumers desire multi-sensory store experiences. Brands seek to curate more memorable and immersive multi-sensory experiences, allowing consumers to create a positive connection with the brand.
4. The Art of the Experience
While many retail stores close their doors, defeated by online competition, the gallery still offers something the internet can't; real-life art. Millennials love for art galleries could prompt retail models to lean towards one resembling more of an art gallery, where retails constant pressure to buy is diminished and being a ‘window shopper’ is more accepted.
These enhanced store experiences sometimes come at a price; retailers could capitalise on the overall concept of experiential value by charging for experiential opportunities.
For example, menswear retailer, Wingtip has introduced ‘The Wingtip Club’, two floors above their San Francisco Store where members pay to spend time. The space aims offer a Bar & Lounge, Game Room, Whisky Corner, Golf Simulator, Parlour Rooms and Wine Cellar.
