Once again, Black Friday is upon us! Here are 5 interesting statistics around Black Friday and what they mean for retail.
There are many techniques that retailers use to continue to drive foot traffic into their physical stores. In this article, we share just a few to get you thinking.
Turning a shopping trip into a destination through events
By bringing educational classes, or other experiential elements to your store, you can get customers thinking about a shopping visit as a desirable event outing instead. And as we know, the longer your customer spends in-store, the high probability they have of making a purchase.
For example, Williams-Sonoma offer cooking classes-instore where people can learn how to use products and sample the merchandise. Home Depot offer kids craft and building classes on the first Saturday of every month. And Lululemon has also found success in holding free yoga classes during slow business hours to drive traffic in-store. Classes feature products sold by Lululemon and this increases basket size in the process.
Offer services to complement your products
For retailers whose products require maintenance, offering services for free to in-store customers to encourage people to stop by. For example, Tanzanite Jewelry designs provides in-store services such as jewelry cleaning and battery replacement to help increase traffic and sales. In the cosmetics space, personal stylist consultations or makeovers can help drive shoppers instore. For example, Sephora offers free mini-makeovers where their highly trained make-up artists teach you how to use their products, often leading to not just sales, but repeat purchases by shoppers who are extremely happy with their selection.
Provide personalized recommendations and advice in-store
One of the leading benefits of making purchases in physical retail stores is that your customers get to physically experience the product before making a purchase, as well as access to sales staff who can help with personalized recommendations. Retailers are tapping into this benefit, as well as introducing technologies which can mirror the benefits of online shopping, such as self checkout or sales staff having access to a customer’s past shopping history or preferences before offering advice in-store. All of this is helping bridge the gap between the online purchase experience and the instore shopping experience.
Rethinking the grocery store experience from being a transitory destination to becoming an exploratory destination full of discovery is proving to be a worthwhile approach for grocery retailers.
Here are a few techniques stores are using to encourage shoppers to stay in store and elevate the in-store experience.
L’Occitane en Provence has opened up a new retail destination in New York in the form of an interactive boutique. Following the experiential retail trend, the new store is 1,870 square feet of sensory delight. Designed by international artistic director Daniel Contorni and Blackburn, it’s a step into the cobblestoned streets of Provence and all that this entails.
So what does move towards experience this mean for retail? It means the bar has been set higher for in-store experiences. Here’s just a few things that are inspirational about the L’Occitane retail experiences that other retailers can learn from and be inspired by.
A glocal approach
In addition to providing an immersive, delightful experience in New York, L’Occitane has adopted a ‘glocal’ approach, creating customized experiences tailored for local clientele - whether that be in Brazil, Paris, London, China, Singapore or Toronto. These experiences have worked hard to turn each L’Occitane location into a destination, showcasing the local portfolio of services on offer.
An evolutive space
Each location is seen as an ‘evolutive space’ - which continuously changes with the seasons to reflect different campaigns. This continuously change helps keep the physical retail locations fresh and relevant, giving customers a reason for repeat visits, and avoiding a ‘been there, done that’ attitude.
Experiencing it live
From in-store cafés and macaroons to customized products and complementary beauty treatments, L’Occitane provides even more reasons for customers to visit the physical store while telling the brand’s story through these physical experiences. For example, the new flagship on Regent Street in London offers personalised product engraving, complimentary hand and arm massages and beauty consultations in private rooms, as well as an in-store café offering limited edition Pierre Hermé macaroons. Delightful.
An upsurge in impulse buying mean that the point of purchase (POP) is playing a more important role in consumers’ decision making than ever before.
So why are consumers open to impulse purchases, despite their best intention to seek special deals or wait for sales?
There are many reasons. Here, we cover just a few behind the continuing and increasing success of the POP strategy in driving the impulse purchase.