Pokemon Go lures, fitness classes and community forums are just a couple of ways that in-store events draw customers.
But why should you spend money on in-store activities? Today’s consumers have unlimited options on their path to purchase. Enhancing their visit with a memorable in-store event establishes a relationship that is more than just a transaction.
The way consumers are choosing to spend their money has shifted in recent years to the tune of purchasing an experience over an item. Experts say millennials may be an important driver of the spending-on-experiences trend. In a survey conducted by the consultancy PwC last year, millennials said some 52% of their holiday spending would be on experience-related purchases, compared with 39% percent for older consumers.
Retail is no longer just buying a good — It is an experience.
Community & Thought Leadership
A perfect example of creating a culture of community in-store is Canadian fitness apparel brand Lululemon. They’ve integrated lifestyle tips, motivators and fitness classes. Additionally, they partner with local initiatives and instructors to promote community fitness classes. By ingraining their brand into the lives of their customers, Lululemon becomes top of mind when people are thinking about purchasing active wear.
If you’ve ever set foot in a Sephora location, you know that they have established themselves as a thought leader in their vertical. By offering free in-store beauty classes they don’t just sell a product, they show you how to use it.
As Apple drops the word store from their retail locations they’re creating a new atmosphere in their locations. Apple’s Senior Vice Present of Retail, Angela Ahrendts, recently stated that the new Apple retail locations will offer coding classes for kids and they will implement ‘Teachers Tuesday’, where “employees spend time helping teachers with anything they need in the classroom.” Both of those activities are related to the tech industry but neither of them are specifically for selling more Apple products.
Emphasis must be placed on creating value for consumers, and one way to do that is by implementing in-store events. Experiences add value, whether, you’re a record store that hosts an acoustic set from a local artist, an essential oil store that hosts a class on meditation or a bookstore that has an author come in to sign a book. Who knows... You may even gain new customers that happen to pop in for the event and end up with not only a purchase but a memory tied to your brand.
To learn more about how you can stay relevant for the ever evolving shopper journey, download our report titled, 'The Store of the Future' below.