Evolution of experiential centers in Indian retail space

According to marketing experts Experiential Centers are the 'New-Age' Marketing drivers in India. The core of this approach is to establish a positive and interpersonal engagement with consumer that lasts as a memory, of experience, of what it made them feel, of how they spent their time and shape their perception towards a brand. Brands are realizing the potential of experience centers as a sustainable competitive advantage–it is intangible in the way that it cannot be truly recreated or copied. Every brand is trying to implement this strategy keeping in mind their USP and the experience, emotional connection, or stimulus they want to inculcate in their consumer base. This strategy is all about creating a meaningful experience that’ll engage the audiences, in relevant ways.

M&M'S 25,000 square feet store selling chocolates and merchandise across three levels at Times Square or Apple’s famous Fifth Avenue store in New York city- brands have been selling consumers a splendid experience for a longtime now. The Covid-19 pandemic made brands strategize or in some way capitalize their experiential marketing by turning into online. With the relaxation of lockdowns and people stepping out, brands are now motivated to expand their experiential offerings in physical sense through brick and mortar stores/outlets. 

The digitized offering of experiences of various brands will only become complementary to the physical experience and not replace it. The remote access to experience is a gratifying treat, which is compelling the brands to open more and more experience stores and they are here to stay.

Reasons why customers are more attracted to brands that are banking on the experience centers:

1. The consumers today are smart if the industry doesn’t provide experience of the products they will read and review about that online. Transparency is the key.
2. It is important to provide the tactile experience of new product categories or new technologies
3. A large section of the brand’s audience still wants to touch and feel the product because they are making an expensive investment.
4. Trust still holds its virtue in the minds of people. Consumers trust a brand more that has an online store with a local presence. So it’s all about building a perception of trust by being local. In tier-two cities the footfalls are not high but having a store there ensures that the revenue goes up.
5. Cautious buying is becoming a new trend. Almost 60-70 per cent of today's shopping decisions are made before people step out of their houses, because there's so much information available online. Then if the customers still want to touch and feel, they walk into a store and see the products.

The Way Forward:

An ‘Experience Center’ per se is meant to leave a memory, a lasting impression, so spaces that give the consumer an experience with family with events or pop-up shows that brighten a dull day, while giving the brand the opportunity to surround its visitors in full-brand immersion, without pressurizing purchase seems like the perfect medley for the urban economy. Experience centers, as opposed to the aggressive, hard-sell marketing tactics, give a breathing space to the consumer and let them be themselves. These spaces curated to suit the brand, style, and audience – art installations, coffee bars, themed-events, and innovative technology, museum-like walk through space – where the potential consumer can assess and experience the brand on their own terms is the way forward.

Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com