December 26, 2014
With so many shopping options available to consumers, between the endless quantity of online retailers and brick and mortar stores, retailers have to find a way to stand out against their competition.
If you have the same prices, same merchandise and are relatively the same distance away from the consumer you have to find ways to encourage customers to choose your store.
Big chains have been turning to “Retailtainment”. Simply defined, “retailtainment” is adding entertainment or recreational elements to the retail experience.
Examples of businesses using retailtainment to draw in customers, include having book signings at book stores, wilderness stores having shooting ranges or restaurants having game areas or dinner theatre.
Many of the attractions retails are using for retailtainment are second sources of revenue. Dave N Busters, Main Event, Alamo Draft house have made their businesses a place for a one stop night of dinner and entertainment. Why drive to different locations when you can have cocktails, entertainment and dinner all in one place? Businesses like Hobby Lobby, Bass Pro Shop and Academy provide trainings on their products, licenses and other activities to draw their target audition to their store over competitors.
The idea behind retailtainment isn’t only to get customers in your store but to keep them there for longer visits. Retailers believe the longer a customer is in a store, the more merchandise they will get to see and the more they will purchase.
The issue with retailtainment is for the smaller local mom and pops businesses. Often these stores can’t afford to give the same low prices as large chain stores but not having the space or funding to add retailtainment to their businesses can be crippling in the fight against chain stores. Hiring additional employees or renting out the suite next to theirs to open a shooting ranger is simply out of the question.
At a certain point even the most loyal consumer may decide that they gain and save more by turning away from small local businesses and shopping at larger retailers.
What are some possible ways for smaller businesses to compete with larger stores using retailtainment? Does the opportunity for a retailtaiment shopping experience influence where you shop? Let us know below.
Read more here: Retail-tainment; the next big thing for retail and shopping centers?