The experiential retail revolution: 75% of European consumers would change their shopping behaviour if retail outlets were more experiential
The future of retail is experiential: shoppers say they would return to in-store shopping for more immersive experiences
11th February 2020: Amid a challenged high street – which has seen UK bricks-and-mortar retail experience great losses in 2019, from closures to dropping footfall – technology could be an answer to a revival in high street shopping. New research has found that experientialism is crucial to changing shoppers’ behaviour, and could even see them shun online giants and mobile buying in favour of more shopping in store. The survey found that three-quarters of respondents (75%) would change their shopping behaviour if more shops on the high street had an experiential element, rising to 80% of Generation Z and Millennials.
New European research, commissioned by global technology firm Epson, entitled “The Experiential Future”, highlights how valuable immersive and experiential elements are the future of retail outlets and the high street, especially when it comes to younger shoppers. Nearly seven-in-ten (67%) of Millennials would be more likely to shop in-store if there was an experiential element included, followed by 65% of Generation Z, 58% of Generation X and 52% of Baby Boomers.
These findings show a clear opportunity for retail businesses to start harnessing the power of experientialism. From projection mapping and holograms to gesture control and motion and facial tracking, immersive technologies can and should be used by brands to provide one-of-a-kind experiences that amaze and delight and deepen the customer/brand relationship.
“New technologies are drastically changing the way that retailers communicate with their audiences, but experiential technology is no longer a ‘nice-to-have’ for embattled retailers. Brands must use new tools to revolutionise their shops, which could help them create and maintain a competitive edge. Above all, they must harness the power of immersive and experiential shopping experiences to help revive their stores,” comments Neil Colquhoun, Vice President CISMEA and Professional Displays, Epson Europe B.V.
For more information, the “The Experiential Future” report is available for download here.
Arlington Research conducted market research in 26 countries amongst a total respondent base of 9750 adults aged 16-65 who had attended an event or attraction in the last 12 months from a drop-down list. Countries surveyed include UK, France, Germany, Italy, Spain, Portugal, Republic of Ireland, Netherlands, Belgium, Turkey, Greece, Norway, Denmark, Finland, Sweden, Czech Republic, Slovakia, Estonia, Poland, Slovenia, Bosnia Herzegovina, Croatia, Montenegro, Israel, UAE, Morocco. The research is nationally representative of adults aged 16-65 years old in each country surveyed. Age ranges are defined as follows: Generation Z (born between 1994-2003), Millennials (born between 1980-1993), Generation X (born between 1965-1979) and Baby Boomers (born between 1954-1954).
Epson in Projection
Epson is the world’s leading projector manufacturer, a position it has held for 19 successive years. More recently it became the leading projector manufacturer across EMEAR and CIS both in terms of volume and value market share. Epson’s success in projection can be attributed to its unique, ultra bright 3LCD 4k enhanced laser projection technology, reflecting a commitment to developing innovative and practical solutions derived from customer insight and feedback. Its projectors are used across a wide spectrum of markets, from large scale immersive events and visitor attractions to educational classrooms, corporate meeting spaces, hospitality and retail destinations.