04 . The traditional town centre model is outdated .
There is no disputing that the retail sector is undergoing a period of rapid change . Competition from digital platforms and D2C brands is higher than ever and bricks and mortar stores are under increasing pressure to adapt to this new environment , delivering experience-led retail to draw consumers away from their smartphones and into physical stores .
As a result , the traditional shopping models needs to change radically . The current set-up of the majority of retail outlets simply doesn ’ t deliver the personalised , curated experience needed .
Modern consumers want stories , information and interaction . In short , they want the added value that most retailers simply aren ’ t providing .
And this is where cultural collaborations could come in . Museums and visitor atttractions understand how to draw a crowd , keep them engaged and entertained , and leave with a branded product under one arm . The visitor feels enriched by the cultural engagement ; the institution delivers a powerful experience and , with the support of well-designed retail , benefits commercially . It ’ s a win-win .
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