'The Residence' is a unique new retail space from John Lewis that gives consumers the chance to really get a feel for what it's like to purchase its products, by temporarily living in the in-store apartment.
The fully furnished retail space is equipped with a bedroom, a living room and a dining area, which consumers are invited to live in as though the spaces are their own. Although many furniture showrooms convey a hands-off feel, The Residence encourages those who make themselves at home to rearrange furniture and even host private dinner parties for friends.
To really make The Residence feel like an authentic abode, John Lewis services the home with a daily newspaper delivery, stocks it with the latest fall and winter products, and even gives the home its own unique scent.
Why This Trend Is Growing
- Experiential Retail
- There is an opportunity for retailers to create immersive in-store experiences that allow customers to interact with products.
- Blurring Boundaries
- By merging retail and residential spaces, companies can offer consumers a unique, multi-functional experience.
- Customization
- Retailers can provide opportunities for customers to personalize and customize the in-store living spaces to suit their preferences.
Industries Being Reshaped
- Furniture Retail
- Furniture retailers can create in-store apartments to showcase their products and allow customers to experience them in a real-life setting.
- Hospitality
- The hospitality industry can incorporate retail spaces in their hotels or resorts, allowing guests to interact with and purchase products during their stay.
- Real Estate
- Real estate developers can explore the potential of creating mixed-use spaces that combine retail stores and residential apartments.
