Gekko
Gen Z Additionally the research highlights another area for optimism for electronic retailers. Tat is in the behaviour of the younger generations. 18-24 year olds - known as Gen Z - are more interested in consumer electronics than any other category. 52% revealed they would be prepared to spend more if given better advice. Encouragingly for the future of physical
retail, Gen Z are most likely to seek out great advice in store (45%) versus an average of 38% and are more likely to find staff knowledgeable across categories. Tey are also the most likely out of all ages to appreciate product demos (39%) against a 29% average across all ages. Finally 1 in 2 Gen Z’ers (52%) and 38% of Millennials will spend more for a good experience in store across all categories - crucial for the development of experiential retail. So how to respond? I think there are three key actionable take outs for consumer electronics retailers.
1) Invest in experts Our research highlights the timeless appeal of a positive engagement with an in-store expert in CE. While we have spent so much of the past year and a half shopping online - it is clear online alone is no replacement for the experience and interaction of trained advisors. Tis is particularly the case in a category where more of us are prepared to spend more. Tey are consistently the best way to influence and convert a sale of a considered purchase item. Ensure they are on hand and fully trained to answer any question your curious customers may have. While some are struggling, the retailers with a real customer
first mentality are succeeding. Every person that walks through the door should be viewed as a potential customer, an influencer, someone who will talk about you positively through their experience and tell others in person, online or on social media. Not viewed as just another body to ‘deal’ with. Te benefits to the business can be significant.
2) Engage the senses and think price An expert’s role is important but they can’t operate in isolation. As our study showed, the number one factor driving a considered purchase is the ability to see and touch a product. Price promotion and a great demo were also high on the list. So when it comes to physical retail and considered purchases, it is vital to engage all the senses and create a joined up experience leading the customer to the checkout. Aſter all this desire to engage all the senses has only been heightened during the long lockdowns we have all endured with so much mind numbing time spent in front of screens. So creating a real retail theatre is vital. Good lighting, a price promotion clearly on display, ensuring customers can interact
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with the product when they want and of course having the expert on hand to answer questions. It may seem simple but it is worth revisiting your customer experience strategy. Start with a genuine audit of your brands or retail estate to ensure all the senses are being fully engaged.
3) Joined up brand experience While the thirst for the physical store experience endures, it is not about going back to 2019. Te genie is now completely out of the bottle for ecommerce with even the most hardened luddites now comfortable with online search and discovery. Te smart strategy is now ensuring the experience is joined up and that we better understand the drivers of the online/offline experience. In our research a conclusive 85% of shoppers said they are now doing online research before making a considered purchase in-store. Belying any remaining stereotypes, the older age groups were
more likely to go online first. 89% of 55-64 would research online first. Interestingly, 69% said a well synchronised online and offline experience would make them more likely to make a considered purchase. Brands need to therefore ensure they have consistency across the full spectrum of online touchpoints, including search, social and display advertising and in-store. How does the experience feel to a customer and how is this then prompting a likely sale? Reports of the demise of in-store retail have thankfully
proved premature. But while we have emerged blinking into the sunlight and luckily still standing aſter this period, the world we now observe is changed. Indeed survival going forward is never guaranteed and really never was in the fast paced consumer electronics category. To succeed we need to develop a new ‘experience-centric playbook’ utilising the best that a joined up in-store experience can offer; the right experts on hand to complement an experience that engages all the senses. One that is seamless and joined up with the online world of discovery that led us to the store. As we look forward to a better year, there’s all to play for. Let’s
go for it. December/January 2022 | 41
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