Retailers take cues from the entertainment space
Trend - As the need for up-leveled in-store experiences continues to rise, retailers are looking outside their typical industries for inspiration. More specifically, retailers are looking to the immersive theatre space to inspire their brick-and-mortar strategies.
Insight - Consumers today, particularly Millennial and Gen Z demographics, are increasingly investing in experiences over products and look for more when it comes to their purchases journey. Altering the path to purchase can leave a lasting impression while allowing the consumer to be part of the offerings before even purchasing them.
Insight - Consumers today, particularly Millennial and Gen Z demographics, are increasingly investing in experiences over products and look for more when it comes to their purchases journey. Altering the path to purchase can leave a lasting impression while allowing the consumer to be part of the offerings before even purchasing them.
Workshop Question - How can you create a more theatrical purchasing experience for your consumers?
Trend Themes
1. Immersive Theatrical Experiences - Retailers are looking to the immersive theatre space to inspire their brick-and-mortar strategies, catering to experience-driven Millennial and Gen Z consumers.
2. Interactive Toy Store Activations - Retail stores are collaborating with entertainment companies to provide interactive toy store activations that help immerse children into a fictional and fantastical story, creating a new dimension of customer engagement.
3. Future of Retail - Retail startups like House of SHOWFIELDS are introducing unique combinations of art and immersive theatre to retail, exploring entirely new ways for goods to be sold and building closer connections with consumers.
Industry Implications
1. Retail Industry - Retailers are adopting immersive theatrical experiences, interactive toy store activations, and other disruptive innovations to create stronger connections with their customers and differentiate themselves in a crowded market.
2. Entertainment Industry - Collaborations with retailers for interactive toy store activations and immersive theatrical retail experiences are a new way for entertainment companies to leverage familiar franchises and expand fan engagement.
3. Technology Industry - The application of technology, like augmented reality (AR) and virtual reality (VR), is becoming more common in retail and entertainment, which will lead to even more possibilities for immersive experiences in the future.
