“Stores are becoming experience hubs, where customers can touch and feel products and interact with brands. Technology and innovation are key to meeting new customer needs, like seamless click-and-collect and tech-enabled change rooms” (source)
We believe that physical retail is experiencing a “renaissance” moment. A rebirth. Modern brands and retailers are placing a higher priority on their presence in the physical world. Meanwhile, consumers are craving connection and community.
“There’s certainly been a global yearning, post-lockdown, to reconnect, to exchange ideas, to feel rooted in the culture of a city, and, most of all, to feel a sense of community again” (source)
It is difficult for the physical store to compete against e-commerce on the topic of convenience when you can get virtually any product delivered to your door tomorrow. Therefore, the store shouldn’t be built to compete along this axis.
Rather, the store should act as a space where customers can physically and emotionally experience a new dimension of their favorite brands. An intentionally and carefully designed environment in which consumers can develop a deeper bond to the brand. Perhaps even a space where consumers can physically interact with each other, through events or shared experiences facilitated by the brand.
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