Online retail sales continue to grow as changing shopper behavior places greater expectations on brick-and-mortar retail. Despite this trend, store-based retailing remains more profitable than direct-to-consumer retailing, largely due to the high cost of free shipping and returns associated with online sales.
The silver lining for retailers is that many consumers still prefer in-store shopping. In fact, Accenture recently found that 82% of tech-savvy millennials enjoy shopping in physical – not digital – stores. So, bringing shoppers back may be easier – and more fun – than expected.
The Shopping Trip as an Experience
The goal of “shoppertainment,” or experiential retailing, is to draw shoppers into the physical space by offering interactive and engaging activities. Mall operators are seasoned at implementing shoppertainment methods to differentiate their space from other retail offerings – examples include temporary events such as Santa Claus during the holidays and permanent fixtures like carousels.
Today, individual retailers of all sizes are looking for new ways to connect with customers and retain brick-and-mortar sales. What is a great way to do this? Think of the shopping journey as an experience, and make it both unique and memorable....
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