For years, we’ve heard about the decline of the physical retail customer experience. And while retailers have certainly had to adjust their selling strategies, there remains a strong desire for tangible, immersive experiences. In fact, millennials say that 52 percent of their spending goes to experience-related purchases.
To meet the needs of consumers, more brands are seeking value in immersive retail experiences. By offering customers fun, unique moments in time, brands can bring more value to their products and services. Below we share some of the best ways to deliver a competitive advantage to your brand using immersive technology.
The goal of the immersive retail experience is for customers to interact with the products you are selling. Interactive displays do an excellent job of creating these opportunities, as customers can discover a product’s features, view the available inventory and seek product recommendations.
For example, some retail stores are using interactive mirrors in the fitting rooms to give customers a chance to browse through the inventory and speak with a sales representative. Trade shows are also utilizing these displays to draw more people to their booth, create lasting impressions and capture critical information.
Virtual reality allows brands to create unique retail experiences like nothing else. This technology is used to tell stories, demonstrate products, play branded games and introduce new products. As an example, IKEA launched an augmented reality app that lets users test products in real time.
Trade shows and other in-person events also create endless opportunities to use VR technology. By providing VR headsets, attendees can be transported to a completely different environment where they get to explore the products and services firsthand. What a wonderful way to create emotional connections with viewers!
Physical Retail and Internet of Things
The Internet of Things (IoT) is the bridge between the physical world and the virtual world. It can be used in many ways, including to stock shelves, create radio-frequency identification tags, count foot traffic and more. Data is continuously analyzed and communicated through the networks.
On the back end, IoT-enabled technologies can monitor goods and items through the supply chain, allowing brands to observe the location, temperature, stock and quality of their goods. As 5G becomes more mainstream, IoT will play a role in creating the ultimate retail customer experience.
One of the biggest complaints about shopping in person is standing in line. Whether it’s a slow cashier, a long line of customers or large orders, the checkout process can be daunting. But not for long. With the introduction of cashierless shopping, a combination of cameras, shelf sensors and software are used to expedite in-store shopping. Already, Amazon is using this technology in their Amazon Go stores.
The retail shopping experience continues to be an important part of the consumer journey. Even with the rise of ecommerce, consumers still value having meaningful, tangible experiences with brands. To learn more about bringing your brand to life, contact IGE today. We are leaders in the design and fabrication of interactive trade show displays.