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THE FUTURE OF EXPERIENTIAL RETAIL

The future of experiential retail

There is a burgeoning consumer-led imperative – experiential retail. Consumers want more and they are looking to you to provide it.

According to the CBRE predictions for the future of retail into 2030, in-store experiences will continue to be a key tenet of customer retention. 

Customer experience, the way your customers interact with your brand at every touchpoint, from in-store retail to your online store, social media presence, advertising and more, is at the heart of this trend. Given the expansion of online retail and the associated convenience, experiential retail is now more important than ever before.

Now is the time to shift towards the future of retail by taking your customer experiences to the next level. Here are a range of ideas to help you reimagine your physical presence and create an experience your customers won’t forget.

SURPRISE AND DELIGHT

The little things matter. That’s nothing new. But in the new age of experiential retail, there are more opportunities to surprise and delight your customers through innovative experiences.

Customer service, loyalty rewards and in-store treasure hunts are all simple ways you can leave an impression with your customers. They are relatively easy to implement and help to ensure a positive retail experience. 

However, to take it a step further, consider personalisation. According to McKinsey, customers expect personalisation in their retail experiences. While this personalisation is highly sophisticated for larger omnichannel and online retailers, the opportunity for personalisation in niche, speciality and smaller retail outlets is still possible.

Consider targeted offers based on purchase history, birthday discounts or even real time personalisation of products, particularly in the gifting category, in-store. 

Experiential retail displays

CREATE EXPERIENTIAL RETAIL DISPLAYS

What in-store shopping offers over online retail is the ability to create immersive displays. 

Whether it’s instagrammable spaces with interactive elements or tasting booths to sample new products, the opportunities for engaging customers in new and different ways is unrivalled in store.

Experiential retail displays can draw on the power of the senses to capture consumer attention and get shoppers excited.

These types of immersive displays could be anything from a visually-appealing endcap of RXBAR protein snack bars or a fresh batch of aromatic Upton’s Naturals Jackfruit cooking for live tasting, the opportunity to mix an Ethique Concentrate or sample the latest Keto Naturals snacks. 

EMBRACE OMNICHANNEL

Australia Post reports that July 2021 saw online retail hit its highest peak to date with 5.6 million households buying something online during that month. Online shopping has certainly become a fixture of the way businesses operate.

The KPMG Future of Retail Report reveals that 81% of shoppers engage in research online before they make a purchase. Having a brand presence online, hand-in-hand with a retail shopfront can broaden your customer base.

For those who do go down the omnichannel path, a seamless experience and consistent branding is critical to ensure your online and in-store experiences are positive. The various elements of an omnichannel strategy can create interaction points for customers such as buy online, pick up in store ‘click and collect’ shipping options or exclusive offers to entice online shoppers in-store and vice-versa. 

Sustainability as an experience

SUSTAINABILITY AS AN EXPERIENCE

There is no questioning the importance of sustainability in driving consumer behaviour. 57% of consumers are willing to change their shopping behaviour to minimise the impact they have on the environment. This echoes other research on the rise of sustainable brands

However, it’s not just sustainable brands that consumers are looking for. Sustainability can also play a significant role in experiential retail. That is, your behaviour and choices as a retailer can form part of the customer experience.

Consider shelf wobblers and displays to showcase your sustainable range and also your sustainability initiatives as a business. Also consider your choice of packaging and bags, and provide the option to email receipts instead of printing them, for both in-store and online, to back your sustainability stance.

A TRUSTED ADVISOR FOR MORE THAN 25 YEARS

For more than 25 years, we have played an important role as trusted advisors for retailers, both big and small, all over Australia. We have our finger on the pulse to bring you the latest products and retail trends so you can position yourself for the future. We stock hundreds of natural, organic, fairtrade and eco-friendly products in the Unique Health Products online store. You can shop online 24/7, or call our friendly sales team on 1800 787 904. If you don’t yet have an account with us, you can register for one here.

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