opinion

The high street has been experimenting with the concept of experiential retail for decades, but the onset of technological advancements and digital transformation has accelerated its adoption in the bricks and mortar retail landscape. Thomas Fletcher, Projects Director at Sigma, explores its potential for driving footfall back to stores.

A recent How We Shop report from Unibail-Rodamco-Westfield which predicted that more than half of retail stores will be dedicated to providing ‘retailtainment’ experiences by 2025, perhaps no surprise given that 81 per cent of consumers would be willing to pay more for a better in-store experience.

While it is becoming increasingly clear that experiential retail is primed as the future of shopping, reinventing how their stores operate and securing the future success of the business remains a hurdle for many retailers. So just how can brands enhance their retailtainment offering?

A reimagined space

If consumers are to be tempted back through their doors, brands must look beyond a pure retail concept to focus on making the shopping experience a fun and enjoyable one. This is particularly pertinent when you consider that when customers have a great experience, they’re willing to pay up to a 16% price premium.

No wonder then, that we are seeing a seismic shift towards high-concept ‘retailtainment’ stores on the UK high street. Whether that takes the shape of the four-storey Adidas mega-store in London, which allows customers to request alternative sizes and colours from an interface inside the changing room, Dr. Martens’ use of a VR station, GIF booth for social sharing and a customisation zone for shoes in their Camden outlet, or the flagship House of Vans store in London. Fully encapsulating the brand’s “Off the Wall” strapline, the Vans store allows customers to catch a film, listen to live music, eat, shop and, of course, skate on a free-to-use ramp and street course under the 30,000 square foot building.

how brands can deliver a shopping experience to remember

Thomas Fletcher, Projects Director, Sigma

Technology as an enabler

While optimising commercial spaces for the prevailing environment, and converting traditional stores to multi-purpose and even multi-occupancy facilities is imperative, organisations must not lose sight of the value of technology.

The UK has already seen its fair share of disruptors using cutting-edge tech to reimagine bricks-and-mortar shops. Be that advanced Electronic Point of Sale (EPOS) systems and displays, futuristic cashier-less stores, where shoppers are greeted by 3D holograms, or even appfirst outlets that enable visitors to scan products with their smartphones to reveal more information.

A trusted partner

Undoubtedly there is an opportunity for brands to evolve their offering to not only attract customers, but keep them coming back for more.

Achieving company-wide transformation programmes that keep pace with longer-term transitions in consumer behaviour and capitalise on opportunities, nonetheless, will require not only major infrastructure changes, but also the adoption of the latest technology.

Having the support of a trusted and experienced partner, such as Sigma, can be fundamental to success. With over 20 years’ experience of transforming commercial spaces, Sigma can bring together all parties, from landlords to retailers, main contractors, shopfitters, and everything in between, ensuring complex innovation-driven transformational programs can be deployed seamlessly, unceasingly, and perhaps most importantly, cost-effectively across entire estates.

www.sigmagrp.co.uk

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