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Lockdowns and working from home have made shopping a welcome escape for consumers

Full report: The Retail Experience Economy 2.0

Lockdowns and working from home have made shopping a welcome escape for consumers

This article is part of a four part mini-series, taken from our report "The Retail Experience Economy 2.0", which focuses on how the Retail Experience Economy will need to adapt after Covid-19. Find the other three parts at the bottom of this page

 

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The Covid-19 pandemic has had a profound effect on what consumers wish to get out of their in-store experiences. Consumers have always wanted to be ‘entertained’ in stores, but the pandemic has only increased this need after over a year of lockdowns and restrictions, while retailers need to be all the more aware of creating an environment that is both appealing and feels safe for hesitant post-pandemic consumers.

Our research shows that across all consumer age groups, the value of escapism is higher than it was before the crisis and this appears to be a permanent shift in attitude. COVID-19 has heightened consumer desires to ‘escape’ the confines of restrictions and homelife monotony, particularly with the shift to more home working. Providing the opportunity for shoppers to embrace time away from their everyday routine is therefore an easy win for retailers looking to generate meaningful experiences.

 

Fig 1: 16% more Gen Z have a greater desire for Escapism since the pandemic

Pandemic makes stores a welcome escape

Source: Retail Economics

 

How can this be achieved? Both online and offline shopping can provide an escape into wished-for realities, and a distraction from uncomfortable or unwanted feelings. That said, physical stores have an advantage over online. Over a quarter of consumers (26%) said the experience of physical shopping helps ‘detach themselves’, providing a break from their daily routine, but only 12% of shoppers said the same for online.

Aspirational storytelling, imaginative settings and creative inspiration form the basis for powerful escapist experiences. Accordingly, retailers are migrating away from traditional retail formats to more avant-garde, trendsetting locations that offer greater scope for delivering escapism experiences. Concept stores are a prime example of this, breaking the mould of traditional outlets and offering products and services unavailable at normal stores.

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For example, Frasers’ new department store format is designed to be a destination for all ages, providing an “inspirational place to meet, explore and shop”. Customers can book consultations with expert interior designers and beauty advisers. The store also features a luxury restaurant, gaming arena, and bicycle showroom, incorporating all the group’s brands under one roof.

Our research shows that over half of consumers are more willing to shop at destinations that house cafes, restaurants, and bars. This strongly suggests that the social element is still a priority for consumers, despite social distancing.

 

Fig 2: 55% of consumers are more likely to go shopping where there are coffee shops

Pandemic makes shops an escape

Source: Retail Economics

 

After a year of lockdowns and social restrictions, consumer desire for escapism has never been stronger. A masterful infusion of digital technology (interactive content, storytelling), diverse offerings (services/activities that offer something different) and excellent customer service (efficient, face-to-face) in a new or inspiring environment can form a powerful escapism experience. But consumers don’t just want to escape into shops after the pandemic, they also want to learn. Click here to see the fourth article in this series on the need for retailers to educate their consumers.

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Found this short article interesting?

This article is the third in a four part mini-series from our report “The Retail Experience Economy 2.0”. 

  • Part one can be found here
  • Part two can be found here
  • Part four can be found here

The insight in this report is critical for industry professionals operating in the retail and related industries for improving strategic planning, forecasts and to navigate the ongoing disruption and wider structural changes with the retail sector.

View Full Report Here

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