In this article, you will find a complete guide on retail events, including common types of retail events, ideas for in-store retail events, how to plan the latest retail events in your store, and how to market them.
What are Retail Events?
Retail events are events hosted by brands to create a memorable shopping experience for customers. Customers are becoming more selective about the brands they associate with, and in-store shopping experiences can help set you apart from others. In an era of fierce competition, retail events are a great way to connect with customers and build relationships. They attract and invite customers to experience your brand in person.
3 Benefits of Retail Events
Hosting retail events is costly and requires a lot of time and effort. Is it worth all the hassle? Here are three benefits of retail events for your brand.
1. Attract New Customers
After the COVID-19 pandemic, shoppers are looking for experiences and are willing to shop in-store rather than behind a screen. 59% of consumers say that the ability to feel, touch, and experience a product makes shopping in-store better than shopping online. Hosting retail events allows you to attract customers outside of your normal reach – people you have never targeted with your ads or content. These individuals have no way of knowing about your brand and products except that the buzz from in-store retail events can open doors for them with the right strategy and marketing.
2. Build Brand Loyalty
More than 40% of consumers feel they become more loyal to brands after attending their events and experiences. Through events, you can have an intimate conversation with your customers and learn what drove them to attend the event. You get to know your customers, enabling you to make better decisions about which products to introduce in the future. The information you provide offers an exclusive experience for attendees. Whenever they think about purchasing such items, your store will be on their minds.
3. Increase Sales
In-person interactions also encourage potential customers to make purchases and increase their buying amounts. When you host a retail event, people come to your stores without any specific buying plan. With the right engagement, you can help them choose the right products, leading to increased sales. 91% of consumers say that participating in events and experiences convinces them to buy from the brand.
Common Types of In-Store Retail Events
Retail events are highly customizable – there are countless options. Below are three common types of in-store retail events.
1. Launch Parties
Launch parties are the most well-known type of retail event. A new product launch is an excellent opportunity to build a relationship between suppliers, customers, and producers. For example, Beautyque organized a launch party for its new store in New York with Doors. It was a week-long event featuring their cosmetics and skincare products, alongside skincare consultations with a beauty specialist, a makeup lesson with a professional makeup artist, and nail care with a professional in the field.
2. Classes or Workshops
Educational retail events such as hosting classes or workshops are an opportunity to distinguish yourself from competitors by promoting yourself as a thought leader in your field. For example, in October 2018, West Elm hosted a series of workshops where guests could create their own wreaths using wool balls made by certified artisans from Everest Fashion.
3. Meetups or Hobby Groups
Meetups or hobby groups aim to create a series of recurring events that support your industry and form a community among your target audience. For instance, the outdoor fashion brand Arc’teryx organized the Arc’teryx Academy in 2018. It was a four-day experience that brought together outdoor enthusiasts such as mountain guides and professional athletes through seminars and clinics led by experts, as well as films.
Ideas
Retail Event Ideas
The best retail events offer something valuable to attendees. This could be something they learn for the first time, an exclusive launch, or a unique experience. Here are some event ideas you can implement in your store.
1. Collaborative Events
Partnering with other companies can be mutually beneficial, bringing increased exposure and revenue for both. For example, Sephora collaborated with Dr. Dennis Gross, a world-renowned dermatologist based in New York. At this event, the national skincare advisor was present to provide consultations and perform an exclusive peel available only at his office.
2. Charity Events
Hosting a charitable retail event can add a lot of value and increase awareness of your brand. People are emotionally connected to charities, and when you support causes they believe in, they connect with your brand personally. Such events can be really effective because you’ll attract customers who genuinely care about the cause and may be new to your brand.
3. Educational Events
Many retailers attract customers through educational experiences to draw more people into the store and showcase their expertise. For instance, Kendra Scott collaborated with Splash to organize an exclusive event for retail marketing leaders to network and learn about the brand’s event strategy. This event took place at their store in Soho, New York.
4. Fun Events
Fun events are among the best retail events – people come and participate in enjoyable activities while the brand benefits from increased foot traffic and brand awareness. In 2017, John Lewis launched an in-store event focused on celebrating a British summer. Named National Treasures, it featured 220 life-sized cartoon displays by Paul Thurlby in store windows.
5. Exclusive Member Events
If your brand offers a loyalty program or an internal program, you can host an exclusive event for program members only to make customers feel special. When you delight them with an exclusive retail event, their relationship with you strengthens, giving them a reason to return.
6. Experiential Events
Advertisements come and go, but experiences stay in people’s minds forever. These days, retail brands are discovering new and innovative ways to engage with customers. In 2019, Chanel wowed people in Soho, New York, with its experiential store Atelier Beauté Chanel. It was an interactive store that offered guests a chance to try out their collections, receive skincare and makeup expert services, and plenty of photo opportunities.
How to Plan In-Store Retail Events
The best events require comprehensive planning to be successful. Follow these four steps to plan a great event.
1. Define Goals and Budget
Every marketing campaign starts with good planning, and organizing an event is no exception. Before you dive into your event planning, you need to establish a final goal for it, such as increasing brand awareness, launching a new product, boosting sales, gaining media coverage, building better relationships with customers, getting mentions on social media, or selling old stock.
2. Plan Around a Theme
A theme summarizes your event in a few words. It helps visitors visualize your in-store event better. Instead of just hosting any event, you can tie it to a holiday or concept. For example, a product launch event called “Winter is Coming” tied to Game of Thrones, or perhaps a contest event after a major movie release where the winner receives a 90% discount on their purchases.
3. Create a Unique Experience
Creating a unique and memorable experience that leaves guests in awe is part of the goal of a successful retail event. You need to be creative to stand out from the crowd and think about how you can entice guests. Under Armour did just that.
4.
Linking the Event to a Charity or Cause
People are interested in and love donating to charities – over 56% of Americans donated to charities last year. Therefore, events tied to a charity have the element of “doing good and feeling good,” and customers will be eager to associate themselves with brands linked to a good cause. Make sure to keep charitable events simple. You can donate a percentage of your sales to an organization or create a fundraising campaign with a substantial percentage of sales for a worthy cause.
How to Market In-Store Retail Events
Once you have a clear idea of the type of event you want to host, the next step is to develop a strategy to market the event.
1. Social Media
Leverage the power of social media to promote your retail event. Add the event to your Facebook page, including the required event information. Post stories on your Instagram to raise awareness about your in-store event. You can also run ads to increase visibility.
2. Email Lists
You want to attract new customers with your retail event, but you can’t forget about the loyal customers you already have. Send email invitations to your current customers, including an iCal or Google Calendar invitation. This makes it easier for your customers and increases attendance as the event is in their calendars.
3. In-Store Promotion
Rely on traditional methods of in-store promotion. Since you have regular visitors to your store, you can print flyers and posters to highlight the upcoming event.
4. Leverage Loyalty Programs
If you have loyalty programs or internal programs for your brand, you can get referrals. To do this, add an extra gift for members, such as a gift basket, exclusive offers, or a chance to purchase limited editions first.
5. Collaborate with Other Retailers
Hosting in-store events can be costly, but you can ease the burden by inviting another brand to partner with you. Just make sure not to invite competitors here. You want brands that complement your business in one way or another. Get brands that share your target audience, and both will benefit from a larger audience at a lower cost.
Examples of In-Store Retail Events
With many brands organizing in-store events, here are three examples we love.
1. Chanel Product Launch Party
Chanel knows how to make its customers feel valued and special by offering the chance to attend a product launch before it goes on sale to the general public. They attracted customers to their dedicated fragrance store in London for the launch of the new Gabrielle fragrance. It was Chanel’s first major fragrance in 15 years, centered around an imaginary flower by Olivier Page.
2. Warby Parker’s Green Room
Warby Parker’s optical stores have managed to find innovative ways to stand out with unique events. At their Melrose Avenue store in Los Angeles, they transformed one of their empty rooms into a massive green screen – a fun photo booth experience that allows customers to record short videos with entertaining props and backgrounds.
3. Westfield’s Christmas Cave
Westfield shopping center in London capitalized on Christmas with a special cave for adults and children. By making their cave bigger and better than other store caves, they attracted shoppers who would have gone to other retailers.
Start Hosting Retail Events in Your Store
Consumers enjoy shopping in-store now more than ever. They are not only looking for better products but also for a better shopping experience, customer support, and in-store experience. Retail events are a great way to showcase all these aspects; it’s a consumer-approved marketing strategy because it’s fun. You get the chance to build lasting relationships that go beyond emails and social media posts.
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