FIRST AIRED: May 30, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>> The retail sector has been struggling for over 10 years. With many iconic chains like Toy's R Us closing their doors, succumbing to online rivals. But some retail giants, including TJMax, Home Depot, Sephora, and LuLu Lemon are still expanding their footprint, They're not just pushing their products, but trying to create an in store experience in a brash attempt to lure millennials.
00:00:27
Says Thomson Reuters retail analyst, Jharonne Martis.>> So they like to go into a store like Sephora or Ulta where they can play with the merchandise and even get, their eyebrows done, or facial. Or even get a hair cut done while they're playing with the merchandise. And this is just something that, to this day, even though you can book an experience or a service online you still can't get that service online.
00:00:52
>> The home improvement sector is also benefiting from the experiential shopping trend, with many consumers following blogs and Instagram influencers for inspiration. And that's recently propelled Home Depot into partnering with Pinterest on a shop to look tool that's also driving traffic back to their stores. Another segment of retail that's thriving, discount chains, like Ross, and TJ Maxx, their fast changing inventories have customers frequently checking in for deals.
00:01:24
>> Take for example, a consumer walks into a Ross or a TJ Maxx and they find a unique item that they feel they're finding at a bargain price. And then they feel the pressure and the impulse to buy it right then and there before the next consumer comes in and discovers it and snatches it from them.
00:01:41
So then as a result, you're seeing that the consumers not just getting a shopping experience, but they're also finding the treasure hunt experience, and this is something that just can't easily be translated online.>> Another retailer that has bucked the trend lululemon, generating about 70% of it's revenue within stores and not online, by building a community of wellness geeks.
00:02:05
So now shopping isn't just about finding those perfect yoga pants, but also about what else the store can offer to enhance the experience, in lululemons case, a yoga class