Everywhere you look businesses are lamenting the lost traffic in retail stores due to online shopping. The big-box retailers like Macy’s and Kohl’s are laying off thousands nationwide, and Kohl’s is even considering going private. Apparently its paltry seasonal numbers are dictating this conversation in spite of the massive couponing Kohl’s does, too!
To fight off the web’s impact on the shopping experience, some retailers are developing “slow shopping” to create amazing customer experiences. In this episode, John Gregory Olson, my #RockHot co-host, shares a story about Origins. Ever been? I happen to love that line of product, and when you jump into an Origins store or find a section in a department store, you will definitely engage in experiential marketing.
What Is Experiential Marketing
Anytime a retailer can get a customer to slow down and spend more time, you know like shopping more slowly, then that customer gets to experience something positive. If you’re in Origins, perhaps it’s having a pedicure. If you’re at Urban Outfitters, then maybe you’ll enjoy a rock concert. If you’re at Barnes & Noble, uhmm, you won’t get anything! It’s my view that Barnes & Noble needs to … well, I think you ought to listen to learn what it needs to do!
Experiential marketing is used to differentiate a brand, build customer loyalty and word of mouth. We address a variety of angles in this episode and our aim is to get you thinking more strategically about how to engage your customer. Is it slow shopping? Is it concierge services?
What has us thinking long-term, though, is how disruption is fueling the retail cascade and not as positively as we may think. Will you be affected by this, and what will you do about it to reconnect with your customers?
Show notes and resources