Today, we are being faced with a glaring new reality; the effects of COVID-19 will change our economy forever. As social distancing guidelines are lifted, consumers will be more cautious than ever when stepping out of their homes. They will be hesitant to share, and most importantly, they will only put their time and money toward experiences that truly matter to them, shifting the experiential and shared economy to a new connected economy. This Connected Economy places more value in meaningful experiences with a focus on authentic human connection, supported by revolutionary new technology that allows consumers greater access than ever. Read more here.

In-store retail is back, but with its return, there is no doubt that the way we shop, or want to shop, has changed forever. With the growth of e-commerce and the adoption of new shopping habits, retailers must act fast to create modern, in-store experiences that complement their digital presence while differentiating their offering from the saturated retail market.

Whether it’s online or in-store, revised retail strategies are crucial for brands as consumer behavior evolves. The stores of tomorrow must serve a purpose beyond that of the pure sales opportunity and transform into a destination where service, convenience, and discovery take place. In our latest ‘Retail Revised’ series we’ll be discussing key themes retailers must consider to enhance their in-store experience. This week we are exploring concepts and ideas that encourage discovery both instore and online:

Thanks to the boom in live streaming, influencer social media marketing, and e-commerce, now more than ever, people know what they want to buy before they even step into a store. The days of rummaging through racks of clothing and aisles of home goods are dwindling, but that doesn’t mean that physical environments don’t hold value…it’s the opposite. Retailers must not only embrace new online marketing channels but explore ways to repeat and enhance these experiences within brick-and-mortar.

Now and in the future, there is an opportunity to pivot in order to transform stores into meaningful experiences that can’t be replicated online. Successful shopping environments will bring light to the uncertainty of online ordering and will spark real-time discovery and inspiration. We expect to see more ‘next-generation’ spaces and for showroom concepts to evolve. Below we’ve highlighted brands and concepts that are developing spaces that encourage real-time discovery:

Nike Live Store

Located in its birthplace of Eugene, Nike’s latest Live store concept pays homage to its roots with a small-format footprint that integrates online-to-offline capabilities. As part of the brand’s digitally empowered phase the concept was designed to “be a home for athletes and anyone playing sports or making movement a part of their life.” The store emphasizes community and builds upon the learnings of other Nike destinations and lab-like spaces for testing new experiences and offerings.

Photo: Nike

H Beauty by Harrods

Launched by Harrods, H Beauty is upgrading the way people shop. In-store and online, customers can discover exciting make-up, skincare, and fragrance brands. A destination where shoppers can explore curated brands and products, the concept includes interactive “Playtables” where shoppers can experiment with make-up, skincare stations for mini treatments.

Photo: Harrods

Bayview Village Live Virtual Shopping Event

Bayview Village, “Canada’s most prestigious shopping center” recently announced the launch of its live virtual shopping events, dubbed Covet & Click. After registering for the event online, shoppers receive a link to the one-hour live event where a curated selection of must-have items from Canadian fashion designers will be presented.

Photo: Bayview Village Shopping Center

MASERATI X FACEBOOK

Tapping into the repurposing of physical space as e-commerce booms, Facebook and luxury vehicle manufacturer Maserati will debut a next-gen expo showroom at Westfield London that features VR lounges, lifestyle theatres, and live performances.

Photo: Maserati