How is Innovation Driving the Retailtainment Industry?
The recent innovation in technology has reformed immensely and continues to reshape the retail & e-commerce industry. However, due to the unprecedented challenges, retailing has seen an immense shift in consumer behavior and is prevailing. Thereby, it becomes important for the retailers to meet the new user’s demands and strive to deliver an incredible shopping experience to the customers. Amidst this, ‘retailtainment’ or experimental marketing is the new buzzword in the industry for engaging customers and elevating the buying experience at the store to new heights.
Before diving into more, let’s know about what is retailtainment? As the name implies, it is the fusion of retailing and entertainment. This is the approach to satisfy the customer demands at the store with the powerful utilization of sensory elements and unique features. The focus is to provide an immersive shopping and excellent customer experience.
A well-designed experience store incorporated with visualization, AR, sound, emotion comfort is must to attract the customers into your brand and encourage the mood of shopping.
Adding to this, here are some of the major benefits of the tech-savvy world driving the retailtainment industry. Read on!
Enhance the Brand Loyalty
The customer’s experience plays a crucial role in building the brand or company advocacy. The remarkable impression through retailtainment will generate the interest of customers in buying and maintaining & promote the loyalty of the company’s products and services.
Revamp Footfall and Dwell Time
It’s the true fact that the retail stores which have visually appealing aesthetics will inevitably attract more passing traffic. Having said that, the entertainment in the retail store will inspire the customers to stay longer and connected to your products. Furthermore, the increased dwell time metrics, whether you think of the physical store or on the online website, always result in significant sales growth.
Boost Up the Sales
While we talk about the bedrock of retailtainment, the main notion is not increasing the sales of the brand. But, it provides an exceptional and unparalleled shopping policy to the customers which augment the relationship between the brand and the customers. This is in a result, indirectly and exponentially shoots up the sales.
Word of Mouth Promotion
In a world full of spoilt choices and technology-driven, the word of mouth recommendations still works. Thus, if customers are fully satisfied with the retailtainment approach of shopping into the store, they will surely like to share and suggest about the company products, designs and services to others. Hence, The word of mouth promotion hugely affects the purchasing analytics of retailing.
Makes The Brand Stands Out Amongst the Competitors
For the retailers, it’s necessary to deliver as per the customer’s expectations and provide a thrilling experience while shopping. Therefore, the fruitful use of new, innovative strategies such as retailtainment helps convert users into loyal customers. Apart from this, it will help the brand to stand out in the competitive world of the market.
Wrapping Up!
After integrating the retailtainment theory into the retail store, it’s likely to find increased traffic and strengthen loyalty across the market. Whether it’s about showcasing the aesthetically appealing designs to the shoppers or engaging in the products through VR technology, they will definitely appreciate the feeling of satisfaction and happiness. The little efforts by the brand can undeniably enrich the experience of the shoppers as well as amplify the trustworthiness. Revamp your marketing goals right now, as retailtainment is a one-time investment and the reward is enjoying for a lifetime.
Authored by Lokendra Singh Ranawat, CEO of WoodenStreet.
