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The Convergence of Retail and Entertainment: Brand Strategies for Consumer Engagement

CNBC · ·by G4L

GAP
GAP Gap Inc
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  1. 1Retailers are evolving shopping from a simple task into a form of entertainment, leveraging communities and lifestyles to increase loyalty.
  2. 2Companies investing in experiential retail have seen an average year-over-year increase in consumer basket size of approximately 10%.
  3. 3Intellectual property (IP) is highly valuable due to its connection with audiences, and companies are using it to capture consumer interest.

So what's the key point?

Places that sell goods are making shopping feel like a fun activity to bring customers in. Companies that focus on these experiences have seen customers put 10% more items in their shopping carts.

Source CNBC · View original ↗

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