JUST HAVE IT.
It is now a widely accepted trend that people are spending more of their disposable income on doing things rather than having things. Whether it’s some spiritual awakening or simply the urge to look good on Instagram that’s driving this trend we don’t know, but the basic premise of experience over stuff is quite clearly the direction people are moving in.
Now this leaves me in something of a quandary. Mash was borne from staffing the experiential industry, and in line with this human thirst to do more, we have seen the industry grow, adapt and improve – and of course we benefit from that. No longer do our staff simply stand in cold car parks thrusting samples into distracted shoppers’ hands. Together, we’ve learned that engaging consumers and involving them in the brand experience is a much better way to get their attention and buy-in. All good so far.
But another important element of our business is our retail department. And let’s face it, their entire business model is based on people wanting to have stuff. So not only are stores competing with online retailers, they also have to deal with people who prefer to spend their money on brunch, concerts, or various sporting activities and so on.
So how can my conscience sit easy with my retail clients while I applaud the experience trend for my experiential clients?
Well, I look to our largest retail client for redemption, because frankly Nike has been telling people to “just do it” for 30 years. They recognised earlier than most that doing things puts people into a positive state of mind. This positive attitude leads people to live their life more fully – and a full life demands more stuff.
Who goes to a festival without adhering to the strict attire rules of posh wellies and designer sunglasses? Who goes for a run without a method of recording speed, distance and calories burned? And where did the huge upsurge in avocado sales come from if it wasn’t the thousands of independent cafes offering avo on toast for brunch?
The fact is that having stuff and doing stuff can sit alongside each other nicely as long as both follow the aim of putting people into a positive state of mind. If the retail industry can adapt to support people in their quest for experience – both in the products they sell and the shopping environment they create – then they have nothing to fear from people’s changing priorities. And as engaging and personable staff are an important aspect of this development, it seems to solve my personal quandary too.
Now where did I put that brushed microfibre drag resistant tri-suit…
Founder & Managing Director @ CRACKLE DIGITAL HEALTH | Award-winning Healthcare Transformation
7 年The future of retail is definitely about experience driving customer awareness and preference for products and services more than it is about purchase. For one, Amazon is destroying traditional retail through it's ability to convert purchase in one click and now with voice, zero click. I think you're right, access (zipcar) over assets (car ownership) or experience over stuff is here to stay and being driven by technology, globalised communications and simple wider choice. That said, both will remain but unfortunately for some retail brands, Amazon have turned up to the knife fight with a bazooka. That fight also sits against the backdrop of brands as dying stars and brand trust being at an all time low particularly amongst millennials. Product is the new black and even small startups can now find direct audiences through social and online. Why spend your hard earned cash on an average branded products who've spend 5x more on marketing and advertising to tell you their product is great than actually making their products better? Anyone for a Budweiser? You've only got to look at the percentage of floor space given over to casual food / drink / entertainment at a Westfield compared with 5 years ago to see people are spending decreasing portions of the disposable income on products and replacing it with casual food/beverage, a ticket to see star wars in the multiplex or wait, there's a VR Star Wars experience downstairs?! Retailers need to invest in their websites online and more specifically, content and shoppability of their products and services. Offline the retail environments themselves need to be strategically reconsidered with respect to customer purchase behaviour. Brand experience is fundamental helping plug the holes in the already very perforated brand bucket so I think Mash has a big opportunity in that regard.