Did I get your attention??
This post isn’t really about Cats in Space, sorry.
How much time have we got to grab your attention? Apparently it’s approximately 3 seconds. According to retail experts 3 seconds is what it takes to convert a shopper to stopper!
Yes, there is certainly a case for making shopping fast and convenient. However, let’s not forget or underestimate that there’s also a significant chunk of consumers who are craving rich experiences. Consumers who are taking time out to turn their retail experience from necessity into a leisure activity.
Experience
Flagship stores like Harvey Norman in Auburn, Sydney cater to a consumer who wants a shopping ‘experience’. This type of customer yearns to be told the story of the products. They want information on the product, but also how to use it and how it fits into their lifestyle. To the retailer sometimes these stores aren’t even profitable, but they serve a very important role in the overall business strategy of the company/brand.
Engagement
Aside from these flagship stores, if you look around a lot of retailers are looking at new ways to engage our interest. And many are using the old ways. Even the good old bargain is 50% more likely to convert an additional sale. Upselling, one of the oldest retail strategies in the book, is still successful at upping purchase values and nothing promotes an upsell better than a discount. Just when you think you’ve bought all you need, an irresistible offer at the counter can make you add to it. Works (almost) every time, right?
Entertainment
Homewares stores offering cooking demonstrations, cosmetic stores offering free makeovers, sports stores offering sport coach signings or mentoring. These retail strategies look to engage and entertain the consumer. Offering entertainment as part of the retail experience.
Added Extras and ‘old school’ values
Many retail shopping centres offer concierge parking with valet service.
Warringah Mall has upped their offering even more. They give you a PASSCARD and after each store visit you can call the concierge to collect your shopping and take it back to your car. Handsfree shopping – what a pleasure! Valets are always friendly (remember: old school customer service?!) and they give you two complimentary bottles of water. Customers may pay $10 for this service, but if we try to place a value on this you’re looking at $3 for a bottle in a vending machine and a takeaway coffee can be upwards of this. In my opinion I value this magical experience at…..priceless!
My two cents?
It’s a fascinating time as retailers are digging deep into their bag of tricks to grab the consumers attention.
Yes, online shopping is convenient, but there is nothing quite like the tactile exhilaration of the ‘try before you buy’ feeling that a physical retail store offers. Let’s face it, if there is one thing we know, it’s that all people are different.
I think a merge of the two is the way forward.
The ‘Brick & Click’ retailer (get it?!) will come out ahead, bringing the best of both worlds to the consumer. Yes, they offer a store filled with products and consumer experiences, yet they also allow you to shop online from the convenience of your home or office.
