Thursday, May 4, 2017
At Luxury Stores, It Isn't Shopping, It's an Experience
Now a days, urban shops are trying to be more successful than the online shopping retailers by providing consumers an experience they won't forget. The store that is trying this out is called FortyFiveTen. They have just built a new location in Dallas and would like to stand out from the rest. They are aiming to be similar to stores such as Neiman Marcus where the customers are able to spend the whole day there. For example there would be lounge chairs, a restaurant, a bar, a bookstore, and refreshments throughout the store. Since online retail stores are becoming more convenient, these high-end stores are trying to become more of a destination rather than just a place to shop. For instance, Target just invested $7 billion in renovating its suburban stores to smaller urban style shops. I believe in the next few years to come, the small urban shops will be a huge hit for consumers.
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I honestly love this idea! The environment/atmosphere has a lot to do with the customer's experience, and if they are comfortable and acknowledged, they are more likely to make purchases. Humans also look for interactions, so this could be a great thing when fighting online retailers.
ReplyDeleteI think its a great concept but can go either way. Consumers can certainly go for the atmosphere but only time can tell if shoppers will truly respond to this type of shopping experience. It may be that FortyFiveTen will boom at the beginning because the idea is cool and modern but totally possible to bust due to an over complication of the simple shopping model. Only time can tell.
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