Analysis
T
wo recent pieces of research have
caught my attention recently. They
both concern the retail space and its
ability to attract and satisfy consumers.
Firstly, there was a survey carried
out by digital marketing agency
Marketingsignals.com, which found
that 85 per cent of UK consumers would
prefer to purchase items in-store and 78
per cent prefer to see and feel a product
before going online to shop around for
the best price.
The second piece of research came
from RetailEXPO, a Reed Exhibitions
show, which found in a new report that
The
sweet
spot
70 per cent of shoppers would shop
elsewhere – either online or with a
competitor – if a retailer didn’t provide
an exciting or engaging environment.
Additionally, 64 per cent of shoppers
stated that if they’d taken the effort to
travel to a store then retailers should
make the effort to ensure the shopping
environment is exciting and engaging.
Seventy per cent would go elsewhere
if a retailer didn’t provide an exciting/
engaging environment, and 73 per
cent say they would spend more in a
store offering an experience, not just a
product.
The studies come at a time of crisis
for the High Street, with big-name
chains going into administration, 14
UK shops closing each day on average
(according to PwC research), and a net
1,123 stores disappearing from Britain’s
top 500 High Streets.
To my mind, this research highlights
a clear gap in the average consumer
retail experience, one that consumer
show organisers should be jumping
Studies show that retail consumers prefer to shop in-store,
but many think shopping centres are lacking when it comes
to experience – a clear opportunity for event profs, says EN
editor Nicola Macdonald
at the chance to fill. Who better than
exhibition organisers to provide that
unique combination of high-quality
brands, physical product interaction
and experience that the majority of
shoppers are craving?
The RetailEXPO event director,
Matt Bradley, had this to say about
the results of the show’s research:
“It’s clear that for consumers physical
retailing is increasingly not just about
purchasing products. Shopping is a
leisure activity, an immersive, social
experience that creates an emotional
response.
“The ubiquity of ecommerce has
changed the motivation for consumers
to visit in-store meaning retails must
create compelling reasons to visit. It’s
clear the challenge and opportunity
for retailers centres around creating
combined product and experience
offerings that incentivise and reward
customers for shopping in-store.”
Of course, there may also be a
dormant threat here – many retailers
have been surprisingly late to the game
when it comes to customer experience,
allowing exhibition organisers to sprint
ahead in the customer experience
race. Yes, there have been a number of
innovative brand activations making
headlines but, when it comes to a
consistently high-quality in-store
experience, I feel there is still some way
to go.
The threat may come in the form of
retailers and shopping centres stepping
up their customer experience game, or
it may even involve launching their own
rival consumer events (à la Screwfix
Live). But, for the moment, exhibition
organisers are uniquely positioned to
take advantage of this clear consumer
need – as long as the visitor experience
continues to live up to the hype. EN
May — 17