Experiential retail: down to experience

Experiential retail

Savvy landlords are encouraging retail tenants to open experiental stores that attract customers by creating a fun alternative to online shopping.

As online shopping becomes the go-to source for routine purchases and millennials spend more of their disposable income on experiences rather than possessions, retailers have struggled to get customers through their doors.

“Why would you spend your free time shopping, when you can do it online on your lunch break at work?” asks James Burt, director in the retail team at GVA. 

For a growing number of retailers, the answer is to offer customers a unique experience – anything from taking a yoga class in a sportswear store, to seeing your handmade glass vase being blown or trying out a tech retailer’s latest virtual-reality goggles. Most hope this will translate into in-store sales. But some are taking a different tack. They are opening experiential ‘stores’ that sell very few or even no products in a bid to create brand loyalty.

How prevalent will such stores become? And what do landlords need to do to adapt to the new experiential retail landscape?

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article.

Sign up now for the following benefits:

  • Four FREE articles of your choice per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.

Registered users and subscribers SIGN IN here to continue