How Experiential Retail Tactics Are Evolving and the Power of Scent
, 2022-11-23 05:15:00,
As the fashion industry seeks to draw consumers back in-store following the pandemic and its significant impact on footfall, optimising physical retail is increasingly important to the industry’s recovery. After all, 48 percent of consumers said they prefer to shop in-person when possible, according to a 2021 survey by Raydiant, while 47 percent testify to spending most of their shopping budget in physical locations rather than digital channels.
However, evolving consumer expectations, shaped in part by the pandemic and its lockdowns, is seeing consumers prioritise experiences and services that are engaging and offer an emotional connection to brands. In 2020, 60 percent of European consumers wanted to see or touch products in-person before buying, while 50 percent shopped in stores so they can take items home immediately, according to The State of Fashion: Technology report by BoF and McKinsey & Co.
These expectations are placing greater demand on fashion brands and retailers on delivering a physical retail experience of difference.
Last week, BoF and Integra Fragrances, a Made in Italy scent branding and services company, co-hosted a breakfast and fragrance workshop with executives from the likes of Armani, Kering, La Double J and Ginori 1735 in Milan. The conversation explored experiential retail tactics, often optimised through innovative technologies and digital touchpoints, as well as the impact of scent and sensory marketing in creating a holistic and enhanced brand…
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