Monster XP Blog
Retail + Experiential = Retailtainment
It’s clear that using only a traditional marketing and advertising strategy is not effective enough for retailers any longer.
Over the past 2-3 years, more and more retailers have started integrating experiential and digital elements into their strategies, and most industry executives see a greater need for this approach as we come out of the current economic shutdown. The shopping experience has changed forever, which will force retailers and brands to change with it, or they won’t survive. We’re entering the era of “retailtainmnet” and many experts see us being here for many years.
Even prior to the pandemic, statistics have shown the importance of experiential and digital marketing in a retail environment:
- 93% of consumers claim that live events have a larger influence on them than TV ads.
- 98% of participants feel more inclined to purchase after attending an activation.
- 84% of digital shoppers enjoy the efficiency of digital shopping combined with the touch and feel of the retail store experience.
- 74% of event attendees say they have a more positive opinion about the company, brand, or product being promoted after an event.
- A study from Harris Group found that 72% of millennials prefer to spend money on experiences rather than material things.
- Retailers typically see a 2–3% Increase in typical cart size after installing digital signage and equipment.
- Retailers average a 30+% potential lift in sales on products that specifically featured on digital signage.
These statistics are helping CMO’s and marketing teams justify budget increases in this area. According to a Freeman Global Brand Experience study, more than a third of CMOs said they plan to spend 21% to 50% of their budgets on brand experiences over the next several years. Additionally, 80% of marketers believe live events are critical to their company’s success, and 77% use experiential marketing as a vital part of a brand’s advertising strategy.
The team at Monster XP is here to help you create and execute effective “retailtainment” programs that have a longer impact and a greater influence on future purchases. We have years of experience engaging consumers with dynamic content and using multiple types of technologies to deliver brand messages that deliver results.
Email us today so we can start planning your upcoming campaign: info@ monsterxp.net.
DKNY – Flagship Macy’s Herald Square Shops
PUMA – Lift and Learn
Cheerios – Mall of America Vending Experience
Tommy Hilfiger – TommyXZendaya Popup