One of Retailing’s Hottest Trends: Selling Experiences
“After years of choosing the speed and wide selection offered by big-box retailers such as Home Depot or online merchants like Amazon.com, customers are demanding higher engagement if they’re going to buy something in a store,” reports Lindsey Rupp of BloombergBusinessweek.* Stores must be “exciting destinations rather than places to make a quick purchase.”Some brands or chains, Rupp reports, already are selling experiences along with their goods. Consider:
- Lululemon Athletica offers yoga classes in its stores
- Apple holds in-store digital art and video workshops
- Some Cabela’s (outdoor outfitters) stores have indoor archery ranges
- PetSmart opened its first Pet Spa store, focused on the “pet lifestyle experience” for pets and their pet owners
- Teen retailer Urban Outfitters last year bought a pizza chain
Beyond "Product Demos"
In our view, each of these examples goes well beyond the merchandise, and focuses on actively engaging the customer.- These experiences are not “product demos”. Instead, they showcase and celebrate using and enjoying the merchandise.
- Plus, customers engage not only with “experts” who use the products (those leading the sessions), they engage with other customers (people like themselves?) who also use the products.
- Specialty retailers are well-positioned to deliver these in-store experiences. You have the product knowledge, the love of the merchandise, the respect for your customers.
- And what a great way to energize your staff! Ask for their ideas, and try them all! Test different times of the week: What appeals during a weekday? How about weekends? Or evenings?
For retailers, synergism and involvement is the new competitive edge.
* Pizza, Parks, and Pet Spas: Shoppers Will Pay More for Retail Experiences. Lindsey Rupp, BloombergBusinessweek, October 19, 2016.
