I think it is really interesting to see all the innovations that have been made to create a better shopping experience for the customer. The retail store has, in many circumstances, become like the hospitality industry in making sure that guests are completely satisfied. I have noticed this on my own, and the article “Prada Gets Personal” in Business Week makes it even more evident.
First of all, Prada has taken the initiative to make their store aesthetically pleasing. The first step in the retail experience is what meets the eye. If you can attract customers visually to your store, you can bring them inside, where the spending begins. Prada has commissioned Dutch architect Rem Koolhaas to design the retail space. The store features walls of glass, stadium-style bleachers to display shoes, and a 30-foot wooden "wave" that doubles as a stage. It also presents beautiful marble, zebrawood, and exposed brick.
Beyond the visual experience, Prada presents impressive technological advancements that allow employees to find a wealth of information on the Internet. Having the opportunity to find what is in stock, different fabrics, matching accessories, and even offering a virtual dressing room creates a total shopping experience.
In the current state of our economy, it is important for retailers to understand what keeps customers coming in. I think that Prada has really enhanced the customer experience, so that even in a down economy, customers are flocking into the store and most likely spending money. Even though Prada is an extremely high-end retailer, they are still seeing customer traffic because of the experience they offer.
Other retailers, especially lower-end stores, should take direction from Prada in creating a total shopping experience. These retailers would be able to truly capitalize on the experience aspect of shopping and increase sales. There are just a few things that encourage spending in a poor economy and experience is a primary factor. If Prada, being a very high-end retailer, is seeing an increase or even constant sales, then lower-end retailers would really see an increase in sales. It is important to not only feature sales and promotions, but to ultimately create an experience and make people want to come into your store!
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