Why Retailers Should Embrace Experiential Marketing this Next Decade

Experiential Marketing

Experts heavily debate the future of brick and mortar. With the rise of eCommerce and the likes of giants like Amazon, many stores have closed. In 2018, there was a record-high rate of store closures as retail giants Walgreens, Toys R Us, Gap, Best Buy, and Mattress Firm closed stores across the country. Don’t let this information scare you. Retail stores are fighting back and surviving due to getting creative with their marketing. Retailers understand that TV ads, newspaper coupons, and billboards no longer capture the attention of consumers. So what are they doing instead?

For retail to dominate over Amazon, they need something that will make an impression on consumers. To do so, many retailers are now creating effective experiential marketing campaigns that create memories for consumers. Now the next time a consumer needs to purchase a product, they go to the retailer first. Keep reading to find out why your store should embrace experiential marketing as a new decade is upon us. 

Gen Z wants to spend money on experiences

In a previous article, we discussed that if you’re going to target a younger generation, experiential marketing is the way to go. Especially when it comes to Gen Z. CBS News reports that Gen Z far outnumbers Millennials by at least a million people, and they currently hold $44 billion in annual purchasing. Gen Z doesn’t feel comfortable sharing personal details on social media, but they are sure to post about an experience that really “wows” them on either Instagram or Snapchat. With a well-planed experiential marketing campaign, you can reach the generation that spends the most annually and drive them to your store.

More marketers are encouraging experiential marketing

The stats don’t lie. Within the past few years, surveys and studies show that 80% of marketers think that hosting events is critical to a company’s success. Another 77% believe that experiential marketing is a crucial part of a company’s advertising strategy. For those that have been around for years, this is the time to get creative. Find exciting and fun ways to attract people to your storefront. Once you have an audience, you can talk to consumers to get their feedback on your products. A live event is also a perfect time to increase your email newsletter list by getting their contact information.

Receive Product Feedback on the Spot

Don’t wait until the launch of a product to figure out whether or not your target audience will like it. Bring up and coming products to an event and have consumers tell you what they think about it. If they love it, this is a great chance to get a conversation going. Have your new product go viral by having event attendees post on social media or, better yet, have them go live on social media showcasing the product on your behalf. Your marketing budget goes further when you allow others to do the marketing for you.

Best experiential marketing success story

A great example of a retail experiential marketing campaign is when Pixperience helped out Target at their Fall National Meeting. To celebrate all of their employees’ hard work, we brought our miniFreeze and 180-degree photo booth. Both attractions were a hit! Everyone shared their experience on social media using hashtags to further Target’s reach. After seeing some of the fun pictures people posted, who wouldn’t want to support and shop at Target?

The dedicated team at Pixperience is here to promote businesses, furthering their reach both in-person and online. Find out more today about all of our services and how together we can give your consumers a memorable experience.