Amid a challenged high street – with UK retail sales continuing to slide, 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 nearly two-thirds of respondents (65%) would change their shopping behaviour if more shops on the high street had an experiential element, rising to 82% of Millennials and 80% of Generation Z.
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. Six-in-ten (64%) Millennials would be more likely to shop in-store if there was an experiential element included, followed by 62% of Generation Z, 35% of Generation X and 26% 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.