There has been a notable shift in consumer preferences, choosing to spend more and more on experiences than on personal goods. This represents a challenge for the retailers since now they have to focus all the attention into the new services in order to boost sales and margins. It’s not only about the products, but it’s also about what can the shopping journey offer consumers that they cannot find anywhere else. Those brands that fail to give consumers the experiences they desire, risk the possibility of ending up being irrelevant versus their competitors.
These retail experiences can vary from exclusive products and collections to tech innovation and dining services.
Beauty brands are opening the cafes, fashion maisons set up new records at the museums and historical department stores are building the skate bowl and giving the lessons from the champions.
This report lists the most recent experiments in online and offline retail to attract the customers' attention and keep the market share.
- Consumer Behavior
- Customization of Products
- Customization of the Shopping Journey
- Fear of Missing Out
- Retail Entertainment
- Dining Experience
- Key Takeaways