Ecommerce vs Experience.
Online sales amount for a great deal of small business sales and direct to consumer advertising is a fabulous way for start ups to rake in a profit, but there’s something millennials are getting more of and it’s living proof that retail is NOT dead. It’s called ‘experience’ and smarter retailers are realizing that it’s not only about the product, but about the feelings associated with buying it.
Launching the dream.
Originally initiated by the Mills Corporation, The American Dream Mall is the second largest mall in the United States. Developed by the owners of Mall of America, the 4 million sq foot tourist hotspot set forth to create an unrivaled indoor experience. With its indoor theme park open to the public since October 25th, there’s an indoor water park, poolside experience, ski slopes, mini golf and massive shopping arena featuring hundreds of retail giants.
More to the dream.
Adding to the collection of recreational options, a full scale interactive aquarium and Legoland experience are coming soon to the East Rutherford, New Jersey mega complex. With a hotel and complete food hall, as well as an entire kosher food court, one can truly ‘live’ the American Dream without leaving. A tourist destination with an estimated 40 million annual visitors, The American Dream is being compared to Disney’s Magic Kingdom Park in close proximity to NY’s top destinations.
What’s in a name?
What truly lies within the American Dream that a giant complex has to offer? It’s always about the experience and 2019 shoppers demand that feel good experience they just can’t get on the sofa while surfing the web. “Experience is everything”, says The Grove owner, Rick Caruso. “The convenience of shopping from your own bed has its advantages, but it never outdoes the experience factor. Clients will often choose experience over convenience and that percentage increases every year”.
The emergence that is retail.
If you’ve been envisioning an online only future, think again, but what does ‘user experience’ have to do with YOUR business? For starters, think differently when it comes to the type of brand and shopping process you create or recreate. Efficiency starts by thinking like your end user and it’s all about capitalizing on the ways to change the market by changing the experience. A good marketing strategy can reverse the ‘pain of spending’ and replace it with a ‘chain of positivity’ that only a “fun packaging”, “whacky character”, “interactive exhibit” and “unique culture” can create for your target client.
One of the words you often hear at Hello is ‘target client’, because an experience can only be as effective as the demographic you choose to appeal to.
Market specifically, not universally and experience the profit magic,