Experiential retail is a hot topic in the industry, encompassing immersive, interactive, and technology-driven approaches. However, it's not a one-size-fits-all solution, and many retailers are struggling to catch up with the trend.

The cost of inaction is significant. Customers have diverse preferences, and retailers need to tailor their experiential strategies to each location and brand identity. Rather than expanding store locations, the emphasis should be on regularly refreshing existing stores.

Experiential stores also provide an opportunity for international brands to make a splash in new markets. For some, the focus may shift towards showcasing brand identity over product sales, with the ratio potentially skewed towards the former.

Regardless of the approach, the key is to ensure that experiences are seamless and purposeful, leaving a lasting impression on customers.

Source: Retail Dive