How REI’s New Flagship Store Points to Retails Experiential Future
In an article, Forbes recently compared the retail industry to the Grateful Dead in the 1980s. At that time, a band’s success was rooted in their ability to sell records. Concerts were merely a vehicle for pushing record sales. The Grateful Dead left that model behind; their music was free, and their fans were free to spend on concerts and merchandise. As Forbes says, “They realized that the product wasn’t the album, but the experience.”
In a similar way, retailers who are making an impression and boosting their brand loyalty among customers are those who understand that just pushing product isn’t enough anymore. Instead, customers want an experience, and they want retailers to make an impression that transcends the goods in their shopping carts.
REI has recently opened a one-of-a-kind flagship store in Washington D.C. that proves they understand the value of the retail experience. This co-op has an impressive array of opportunities and features for the DC area’s outdoor enthusiasts. Some of the most notable:
- Specialty coffee brewed in a 1,052 square foot La Colombe cafe.
- An Adventure Station, which is the product of partnership between the retailer and the National Parks Service. It will provide their patrons expert advice and guidance on where to go and how to best enjoy the outdoors.
- If adventurers need a place to gather together and plan their next outing they need not look further; the store features an outdoor courtyard with a fireplace and views of the building’s historic architecture.
- A bike, ski, and snowboard shop with repair services.
- A grouping of gear shops in a communal space that provides a novel shopping experience.
- Perhaps the most notable of all features: a community space that features a vast collection of outdoor classes for free or at low-costs.
While REI has the advantage of being a large, successful company, all retailers can take advantage of the example they set. While not all of us can provide the equivalent of testing sleeping bags until customers find just the right match, all retailers can invest in their customer’s experiences.
“The flagship’s design represents a whole new approach to how REI thinks about the customer experience, presenting the co-op, our services and experience at their best,” said Rebecca Smith, general manager of REI’s DC flagship.
What does that look like for the retailer who has a large foot in the realm of e-commerce? The thing that absolutely has the power to set a company apart, make a lasting impression, and thus seize all brand potential, is as simple as making sure that your packaging is on point.
- Walter Packaginghas options that range from basic stock to custom choices that can be designed to fit every need and vision. Contact us today so that you can begin making the most of every customer experience.