A trend born of the Great Recession is having a huge effect on retailers—nearly a decade later.
“Consumers don’t want to acquire more stuff—they want to do more stuff,” says Marshal Cohen, Chief Industry Analyst at NPD Group. Consumer spending is shifting from purchasing products to spending on experiences, such as vacationing, eating out or attending concerts.
To compete, NPD Group advises, retailers need to create a more exciting shopping experience. Younger shoppers, in particular, seek “experiences” as part of their shopping journeys.
How can you improve the experience factor of your store? Here are six ideas.
1. Tune in. Music not only soothes the savage beast; it also gets customers—particularly Gen Z’ers—to spend more time in your store. In fact, according to a report by Fitch, Gen Z considers music an essential sign a store is open. Without music, your store won’t get their attention. But Gen Z consumers aren’t the only people who prefer to listen while they shop: A whopping 84 percent of respondents in The State of Brick & Mortar: 2017 survey say music makes shopping more enjoyable, while 54 percent say they’re more likely to recommend stores that play music to their friends and family.
Learn more about Gen Z: Your Consumer is Changing Again: What You Need to Know About Marketing to Gen Z
2. Be touchy. According to Fitch, holding and feeling products before they buy is a key part of the purchasing process for Gen Z shoppers. If you sell consumer electronics, put out floor models for customers to play with. Do you sell cosmetics or gourmet food? Have plenty of testers and samples on hand. If you sell apparel, accessories or home decor, create lush displays that tempt shoppers to reach out and touch.
3. Get social. Creating and sharing memories is more important to today’s consumers than buying products, according to NPD Group—so make your store a place where it’s easy for shoppers to share their experiences. For example, an Instagram-worthy window display can attract crowds to take selfies. Encourage and incentivize shoppers to take those selfies and tag your business in social media posts; then pick a winner every week and give them a gift card.
4. Mix it up. Technology has made shoppers’ attention spans shorter than ever. Just as they expect an ever-changing stream of social media content, younger shoppers expect new stimuli from stores, according to the 10 Trends Millennial Retail report from Kelton. Stop your store from being boring by frequently changing your window displays, moving merchandise around or adding seasonal decor. You can even experiment with “pop-up” stores at other locations.
5. Think local. Millennials in the Kelton study would much rather support small, independent local retailers than big chains. Play up your status as a local small business by getting involved in “buy local” initiatives and events in your community. Embrace the local community in your store, too. For example, you could hold a monthly in-store concert where a local band performs while shoppers enjoy a discount. Display local artists’ or photographers’ work on your walls and swap it out every month. (You can even sell the artwork and take a percentage of the price as commission.)
Take your local focus one step further: Why Local SEO Matters More Than Ever (and 4 Steps to Success)
6. Get personal. Offer a personal touch by providing friendly guidance to help shoppers make decisions. Have salespeople bring customers accessories to complete an outfit while they’re trying it on, for instance. Start a loyalty program so you can record customers’ purchasing behavior and preferences. This enables you to customize your marketing messages for their specific interests, delivering a more personal experience.
Your Full Guide to Customer Loyalty Programs: The Small Business Guide to Customer Loyalty Programs
These 6 ideas will help bring in more traffic and ensure that you’ve optimized your customer’s experience in your store.
Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.
Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.
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