Creating Experiential Retail Environments

Global consumers are expecting a transformation of the retail industry in the next few years. Research for the "Westfield How We Shop: The Next Decade" report found that 59% of shoppers are expecting more than half of retail space to be reimagined to support shopping experiences rather than products. Furthermore, 81% of consumers are willing to pay more for experiential retail, particularly when in-store shopping is gamified, creative, or focused on health.

Evidence that experiential retail is becoming more and more popular is growing. A prime example in the US is Dick's House of Sport concept launched in 2023. These stores are designed to give shoppers the opportunity to try products before they buy them. For example, they can use sports equipment to play tennis, use a hockey stick on an ice rink, or climb a rock wall. Shoppers can even take advantage of a simulator programmed to evaluate golf swings. House of Sport also provides onsite services, so customers can have their tennis rackets restrung or golf clubs serviced. In Dick's Sporting Goods, Inc.'s Q1 24 earnings call, the company said it expects the House of Sport concept will lead to strong engagement, sales, and profitability, with the House of Sport locations that the company launched first already driving growth.

Another example is Lowe's DIY-U. The company offers workshops for adults and children that include demos and hands-on projects. Workshops help do-it-yourselfers build skills and confidence to tackle home repair and improvement jobs. Sessions for youngsters introduce kids to the principles of construction and the satisfaction of creating projects of their own. DIY-U also gives customers a chance to try tools in the store and explore materials options that are available to them.

Keep in mind that options aren't limited to sports equipment or home improvement sales. Brands are only limited by their creativity and vision. Apparel retailers can create virtual assistants that fill the role of personal stylists and allow shoppers to "try on" different styles and colors with a "smart mirror." Furniture and home décor can tap into augmented reality (AR) to allow shoppers to visualize how their merchandise would look in their homes. Stores in all segments can use Internet of Things sensors and interactive digital signage to recognize when shoppers are interested in specific items and automatically provide information on invitations to take advantage of promotions. Retailers who understand their customers, the information they need to make buying decisions, and the experiences that they enjoy, can engage customers and build loyalty more effectively than they've ever done before.

The Best Retail Experiences are Omnichannel

It's impossible to talk about experiential retail without acknowledging that it must be a part of an omnichannel retail environment. As businesses move toward offering experiential customer experiences in retail stores, basic tenets of successful omnichannel - convenience, personalization, and ease of use -- still apply. Consumers will continue to expect seamless experiences as they move from one channel to another. Consumers browse online, use mobile apps, take advantage of self-service options in-store - and they'll expect to use those same conveniences in an experiential store concept. Shoppers will want to know if the products they plan to try are available in the store's inventory. They'll expect to make appointments for activities and services online, and they'll look for self-service kiosks in the store, so they don't have to wait for a sales associate to immerse themselves in experiences.

Blending omnichannel and experience shopping allows retailers to create unique in-store experiences that their customers won't find from competitors. Experiential retail goes beyond just bridging the gap between the convenience and personalization of online shopping and the ability to see, feel, and try products in-store. Experiential retail tells the whole story, allowing customers to experience how merchandise will work or fit into their lives.

Growing a Business with Experiential Retail Requires the Right Technology

While the pendulum may be swinging from retail spaces filled with products to floor space devoted to active, immersive in-store experiences, successfully implementing experiential retail requires a technology upgrade.

Large-format touchscreen signage particularly in HD IPS (in-plane switching), provides vibrant,, true-color, life-size images. Retailers can use these touchscreens to add interactivity to their environments. Screens on the larger side of the spectrum, like 43" interactive displays and 55" interactive displays, are ideal to immerse shoppers in virtual reality where they can perfect their form in a virtual batting cage, experience a virtual reality (VR) automobile demo, or use augmented reality (AR) or try on a new line from a fashion designer. For close-up applications, like trying makeup options, a 32" interactive display is an ideal choice.

Retailers who plan to enhance the experience of shopping with technology must also consider how they'll create a tech ecosystem that works in synchronicity. Retailers require a unified retail system that allows retail IT teams to manage all devices, screens, and peripherals from a centralized location and enables the free flow of data between solutions to enhance shoppers' experiences. Retailers will also need new tech tools to take the experience of shopping to a new level. For example, smart 3D cameras allow customers to enter the world of VR/AR to try on clothing, makeup, or accessories, play games, or imagine themselves in settings around the world.

Why Elo Is the Right Choice for Experiential Retail

Retailers who design experiential stores to engage and delight their customers must ensure the touchscreens they deploy also deliver optimal user experiences. The Elo touchscreen signage family delivers fast and extremely sensitive responses. Models in the Elo line also offer touch-thru capability, allowing retailers to mount interactive displays behind mirrors, in a counter, or encased in kiosks for added durability and aesthetics. Elo screens are suited for use in a touch table or bar top to engage consumers in various ways. All Elo displays feature a sleek, slim design in addition to the durability to withstand continuous commercial use.

Elo also gives you a way to create total, integrated systems with Edge Connect™, and personalize immersive experiences with the Elo Edge Connect 3D Camera.

Let us show you how to meet consumer expectations for more exciting, engaging experiences, and make your vision for experiential retail a reality more efficiently and successfully. Contact us today.