Have you ever heard of “retailtainment”? The word comes from the crasis of “retail” and “entertainment”. It represents a marketing strategy, a business approach, that aims to create shopping experiences that are as engaging as possible for customers.
Thus, we are no longer just talking about the act of shopping: retailtainment inherently carries with it the concept of a real experience to be lived in person and actively experienced. Read on to find out more!
Retailtainment: between digital and physical experience
With the advent of e-commerce and digital technologies, traditional retailers have found themselves having to compete with the online world. Now, customers can purchase products from the comfort of their homes. They no more have to physically go to the store and, most importantly, availing themselves of the ability to make a purchase at any time and via any device.
In order to keep attracting consumers to physical stores and maintaining relevance within the market, many retail players have decided to approach the concept of “retailtainment”. It consists in the integration of entertainment and experiential elements, whether physical or virtual, into the shopping experience.
The goal? To make the shopping experience more enjoyable and memorable, drawing consumers into the store, making them spend more time inside the physical space. As a result, sales increase by creating an emotional connection and positive experience with the brand.
Technology integration in retailtainment
Technology integration plays a key role within retailtainment. The use of advanced technologies such as virtual reality, 3D configurators, and augmented reality is instrumental in engaging and creating unforgettable experiences. Retailers are empowered to choose for themselves at which stage of the process to integrate the innovative component.
Through the SaaS platform Tailoor, retailers can choose, for example, whether to enhance the entertainment part at the initial stage of product selection and customization. Consequently, the consumer will not have to give up the in-store visit, which will be to complete the experience, in the full spirit of continuity with traditional business. The result is a complete experience that is further enriched through increased direct engagement and the ability to create personalized experiences by collecting data on customers and shopping preferences.
The importance of experiential marketing
E-commerce has enabled customers to benefit from the convenience of shopping online, where and when they prefer. Sometimes, if not managed optimally, this approach can lead to a lack of experientiality, guaranteed, on the other hand, by physical retail. This is the reason why the combination of online and physical ensures the exploitation, 100%, of the full potential of these services.
In addition, the adoption of new technologies in-store and/or within the sales process can increase customer interest and curiosity. This can, in turn, also reflect favorably on social media through increased buzz and positive word of mouth. The result? Stronger brand visibility, which is particularly strategic for attracting new customers and strengthening brand awareness. It is, therefore, an important competitive advantage for retailers that should not be underestimated.
Retailtainment as recollection of the experience
Consumers prioritize memories rather than the mere physical product. Regardless of whether or not they are willing to make an immediate purchase, they carry with them the memory of their experience. They are inclined to share their opinions and point of view with the network, suffice it to say that, according to research by Harris Group, 72% of milliennials prefer to spend on experiences, rather than products.
The memory of the experience does not end, however, in the experience itself, but can and should also be amplified in the post-purchase period. Social media can be a very important lever to achieve this goal. The satisfaction (and dissatisfaction) that result from buying products can be translated into a narrative, in digital format, of what the person experienced firsthand.
Moreover, this trend is also reflected in social shopping, starting with the purchase itself, which can be defined as an inherently social act. In fact, telling third parties about our choices helps us in the evaluation of alternatives.
Not only we trust people who are close to us and share their testimonials with us, but we also rely on the opinions we find online and on search engines. We often judge them in terms of reliability and credibility, on par with those provided by friends and acquaintances.
The act of seeking information during the process of evaluation, choice, and purchase represents the digital response to the human need to share one’s experience with other people. Therefore, it becomes critical for retailers themselves to monitor the perception of online communities, as it can be a useful added value that can attract new potential customers.
Populating, interacting and collaborating on social media is, therefore, a discriminating element for retailers in running their businesses. A very important factor to be enhanced, in order to maximize the activity of their business.