The Experience Economy

Welcome to my first Linkedin Newsletter!

The Customer Experience Economy part 1

A recent survey by Shopify revealed interesting data around the impact of creating excellent customer experiences in retail stores. As was seen during the pandemic, retail stores needed to really stand out and 'up their game' to compete with the increasing popularity of the online store. So when these stats were published it was no surprise to see customers want more from the usual experience.

Here are some of the results of the survey:

• 66% of consumers surveyed want more?meaningful experiences
• In a recent study?75% of brands could?disappear overnight and most people?wouldn’t care, or would easily find a?replacement.?
• 81% of shoppers said they were willing to?pay more for goods if it they had a better?experience.?
• 57% of consumers are willing to change?a?purchase if they feel they are supporting?the environment.

Retailers are starting to think outside the box which is wonderful for the customer of course. For example, creating destination stores that not only stock their products but also increase dwell time by installing coffee docks, nail bars and some have pop up shops. This creates variety for the customer and a community around the brand/location.

Have you seen any innovative ideas in your local store or what would YOU like to see when you visit a retail outlet. I'd love to hear your thoughts.

I will be sharing plenty of tips here in this monthly newsletter. If you would like me to help you with increasing YOUR footfall, sales and customers then contact me today for a free discovery call and let's have a chat

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