CRE MarketBeat’s Post

"Exploring the Impact of Experiential Retail on Commercial Real Estate" Read the full article below..

Experiential Retail is transforming CRE for the better. In Baltimore & beyond. This post takes a look at this trend, highlights some prime examples of excellent experiential retail, and outlines the benefits for everyone in commercial real estate. Check it out!

BWT Capabilities – The Rise of Experiential Retail Welcome to the future of retail – where the experience is the product. Learn more about the rise of #experientialretail and how retailers are transforming shopping into an experience 🌟 https://bit.ly/4a6lzpU

Ace Hardware is drilling into the experiential retail trend with a big bet on a new store concept. The hardware retailer plans to invest $1B to launch the Elevated Ace concept in new and existing locations over the next five years. The rollout of the new concept is planned to begin in Q4, with a wider push starting in January. The new concept includes new showrooms, new product assortments and an outdoor space with plants and grilling demos. The company has been in the process of reimagining the brand to build stores that highlight the company's core categories — paint, power tools, backyard grilling and home preservation — while embracing the community and creating an experience consumers can't find online. Ace has been busy in other ways, opening 111 new stores throughout June that brought it to over 5,000 locations across the U.S. The company plans to open 200 stores by the end of the year. Globally, Ace has 5,800 locations in 60 countries.Other retailers have also been playing around with the experiential business model. #cre #commercialrealestate #Commercialrealestateadviser #retailrealestate

The Future of Experiential Retail: Experiential retail remains a defining trend in 2024🎾. In-person shopping experiences, especially those incorporating entertainment and wellness, are driving foot👣 traffic and consumer engagement. Successful retail spaces are those that offer more than just products—they provide memorable experiences. This trend is also pushing the growth of celebrity-driven retail brands focusing on brick-and-mortar stores. Learn more about the evolution of retail here: https://lnkd.in/gAtk_SX4 #CRE #SVN #CCIM #svnimbrie #CommercialRealEstate #RealEstateInvestment #RetailInvestment #InvestmentAnalysis #RealEstateTrends #MarketInsights #RealEstateTechnology #RetailTrends #InvestmentOpportunities #RealEstateMarket #StrategicPlanning #RealEstateStrategy

EXPERIENTIAL RETAIL Since the digital commerce became gigantic, the experiential retail turned into a trend. It’s a new perspective that assumes that the physical costumers still exists, but now requires spaces that offers more than just products, but experiences. We now have consumers that prioritizes sensorial experiences that wants more than merely buy.

Of course! Thanks, Placer. Experiential. Today, it's all about a more social, interactive and preferably hands-on experience. Sounds like this should have existed forever yet malls, CPG, BevAlc, retailers, hospitality and more are finally realizing that a bustling oasis (location or engaged brand) beats an outpost every time. Surround your business and brand, whatever that is, with high-energy, high-visibility memorable experiences and recognizable rub-off brands. Increased foot traffic, awareness, affinity, and sales with follow.

Experiential retail, popular pre-pandemic, faded as stores faced challenges. But now, as things normalize, retailers are returning to experiential tactics and blending digital and physical experiences. This article explores these shifts and their impact.

These three companies prove that experience is everything. Experiential retail manifests in various forms, as evidenced by these retailers' innovative approaches to drawing customers into brick-and-mortar stores. Some, like DICK’s, create immersive hubs, while others, such as Lowe’s, integrate experiential zones into regular stores. Companies can also empower customers to create their bespoke in-store experience, akin to what Michaels has accomplished. The impact of experiential retail: - Visits to the three longest-running House of Sports stores in Q4 2023 increased by 7.2% compared to Q4 2022, while visits to DICK’S Sporting Goods stores nationwide decreased by 2.3% during the same period. - Comparing YoY visits at Lowe’s locations with DIY workshops to the overall foot traffic performance indicates that despite ongoing retail challenges, the DIY venues outperform Lowe’s stores overall. - Demographic data indicates that focusing on kids' activities successfully attracts family households to its trade area. Michaels attracts a larger share of married couples with children in its captured market than in its potential market, and has a captured market household size of 2.6, slightly larger than its potential market household size. Full report linked below in the comments. #experience #retail #strategy