Friday, November 22, 2024

Research flags link between fun shopping experience and revenue growth in bricks and mortar retail — Retail Technology Innovation Hub

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Ranked third, and the most fun clothing/accessories store in the list, was TK Maxx, with 10% of respondents enjoying its constantly changing selections of reduced price brand name and designer products. It was equally as popular with males (10%) and females (10%). M&S was the second highest ranking clothing and accessories store, finishing eighth (8%).

Lush featured fourth in the list and was by far the most popular cosmetics store (9%), with both Boots and Body Shop named by just 5% of respondents. Its stores offer product sampling, in-store parties, consultations, and in some stores even spa treatment.

Apple was the highest ranked electrical goods store (9%) and sixth in the table overall, having been favoured by younger people (11% of under 34-year-olds).

The stores offer, among other things, device customisation, on-site experts and workshops to help customers make better use of its products’ features. Currys was ranked ninth, three places below the Apple Store (8%), and was most highly rated by the over 65s (15%).

HMV appeared at number seven (9%), despite having fallen into administration twice.

According to the research 22% of respondents felt that modern stores, which incorporate interactive displays and product-focused video screens were more fun. 56% said that they would consider a fun experience to be one that is visually interesting.

Welsh adds: “The longer customers spend in a store having fun, the more of a long-term connection and affection they forge with that brand. There are many brick and mortar stores that offer in-store only services and products but they aren’t made obvious enough to customers.”

“This is where digital signage can be invaluable to in-store retail, as a single display can be used to draw attention to any and all of the benefits of the in-store experience, whilst also showing inspiring visuals and highlighting promotions.”

“If touchscreen displays are used, they can also be used to make the in-store experience most interactive, allowing customers to learn about products, the company, services available in-store, book consultations with product experts on site, and even play games.”

2024 RTIH INNOVATION AWARDS

Physical stores are a key focus area for the sixth edition of the RTIH Innovation Awards, which is now open for entries.

The awards, sponsored by CADS, 3D Cloud, Retail Technology Show 2025, and Business France, celebrate global tech innovation in a fast moving omnichannel world.

It’s free to enter and you can do so across multiple categories.

Key 2024 dates

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.

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