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Shopping centers—including multi-use, regional, luxury centers, and outlet malls—should always be looking for ways to increase traffic and maintain loyalty among existing shoppers, as well as attract new visitors. This article by Placewise CEO Susan Hagerty Bonsak delves into how experiential marketing can help centers evolve into vibrant community hubs. Let’s explore a hypothetical event, Sensory Spring Fest, which uses experiential marketing to create engaging activities, drive sales, and build strong community ties. #retail #shoppingexperience #placemaking #proptech #shoppingcenter #ceo #marketing Morten Mørken

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

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

Retail Trends: The Rise of Experiential Shopping As a recruitment consultant in the retail and consumer space, I’m seeing more brands shift towards experiential retail to attract customers in a competitive market. From pop-up stores and immersive events to in-store personalisation and community-building initiatives, the focus is now on creating memorable experiences rather than just selling products. This trend isn’t just exciting for consumers – it’s also reshaping the types of skills retailers need. Strong finance professionals who can analyse the ROI of experiential campaigns and optimise budgets for these initiatives are becoming increasingly valuable. What do you think about the shift towards experience-driven retail? Is it the future, or will traditional shopping always have its place? #RetailTrends #Recruitment #ExperientialRetail #FinanceTalent

Experience is the new currency in retail. Brands focused on delivering immersive, interactive shopping spaces are reshaping real estate, as highlighted by McKinsey & Company. These retailers can boost omnichannel sales by up to 200%, making them valuable assets for property owners. As McKinsey Senior Partner Colleen Baum explains, real estate owners who provide data insights and offer tenant improvement allowances can secure long-term leases with retailers, fostering noncompetitive ecosystems that fuel growth across their portfolios. Pebb Capital is on trend, curating mixed-use experiential hubs, combining office, retail, dining and more to attract tenants and elevate value. Read more about how this shift is transforming the industry:

Which consumer and luxury goods brands are delivering the best retail experience in their brick-and-mortar stores? Saffron Executive Director of Strategy Charlotte Black shared some insights with The Drum about what brands are doing right to attract modern consumers. #customerexperience #brandstrategy #retailstrategy

In today’s highly competitive retail landscape, standing out means creating unforgettable experiences for your customers. Experiential retail does just that – it brings brands to life through immersive and engaging in-store moments. https://lnkd.in/dpuKi74G

How Henne's Sydney store opening drove demand 🎯 Tracksuit customer Henne opened their first Sydney boutique in June to much fanfare. This expansion marked a significant milestone for Henne, as it continues to grow its retail footprint in Australia. Here's how the store opening showcased the power of strategic retail growth: 📊 Data-driven location choice: Henne used customer data to pinpoint the suburb of Paddington as the ideal spot. 📱 Multichannel campaign: The brand wrapping the launch in a buzz-worthy marketing strategy across various platforms. 🥂 Experiential events: Henne hosted exclusive parties to generate UGC and media coverage, pre-opening. 📈 Measurable impact: The brand leveraged Tracksuit to track key metrics, and was able to show significant lifts in awareness and consideration in NSW. Henne's success story proves that physical stores can still drive brand growth in the digital age – check out the full story via the 🔗 in the comments 👇

“When you offer your consumer a very limited-time pop-up, there is this sense of intimacy and exclusivity [you can’t get online]. [Physical experiences] will only become more important because they make your brand more memorable and more authentic and more true." Great article on a recent YSL Beauty experiential retail activation in East Hampton. Read more from Glossy: https://bit.ly/3XrGDnr.

The Era of Experiential Shopping What if when you walked into a retail establishment, you were free to try out the products there? What if the salesman does not insist on coming back and taking the product? What if no one gets in the way, no matter how much time is spent in the organization? Of course, the chances of getting at least one product from there are high. Decathlon is using the method of experiential retail by preparing a system to take and use sports products in a wide area. But what if the salesman is following you from the moment you walk into a retail establishment? Are they trying to force the product? There will be no chance of going to that institution ever again. Because the customer is losing the opportunity to make a decision freely there. It's no longer about customer care, but freedom. This experiential retail is also an important factor that differentiates offline retail from online. Because there is a limit to the experience that can be provided online. A perfume shop where you can mix your own perfume, a coffee shop where you can spend time or work, a book stall where you can sit and read a book, and an eyeglass shop where you can find the right glasses for your face through a smart mirror. Experiential retail is the type of retail experience that can engage all five senses of the customer. Imagine walking into a store where you're greeted by your name, and you see personalized products displayed on an interactive board based on your past purchases and online behavior. Such technology, powered by AI and data analytics, is not far away. This can be called Hyper-personalisation. Imagine retail establishments becoming more than just a space to buy products; they become a community hub. There, a sense of belongingness is created while organizing various workshops related to the brand and many events involving the customers. Organizations providing such community-driven experiences can also be expected soon. Remember, the retail sector will never go away. Advancements in technology and customer expectations will take the offline retail sector to another level. #experientialretail #retail #retailers #customerexperience #retailmanagement #sijurajan