Epson report shows the future of retail is experiential

Epson, the laser projection specialist, has released a new report entitled The Experiential Future which shows that three-quarters of consumers would change their shopping habits if offered more immersive retail experiences.

Epson has announced the release of its new research report, The Experiential Future, which explores what consumers think about immersive experiences. One of its key findings is that many consumers want their shopping destinations to be more experiential.

In fact, 75% of those surveyed said that they would change their shopping behaviour and choose in-store shopping if retail outlets provided a more immersive experience.

The future of retail

This figure rises to 81% when looking at Generation Z, and 80% when looking at Millenials. This new European research, commissioned by Epson, shows that experientialism is a key factor when it comes to changing shoppers’ behaviour and attracting new audiences.

Epson’s new report, The Experiential Future, illustrates how important immersive experiences can be for the future of retail. Many respondents said that they would visit a shop that they had not been to before if it offered an experiential element. 67% of millennials said they would be more likely to visit a store if that was the case. This is followed by 65% of Generation Z, 58% of Generation X and 52% of Baby Boomers.

The power of immersive technology

This research demonstrates that there is a clear opportunity for brands and retail operators to take advantage of the power of experientialism. Immersive technologies, such as projection mapping, holograms and motion and facial tracking can help retailers to offer a one-of-a-kind experience to shoppers.

“New technologies are drastically changing the way that retailers communicate with their audiences, but experiential technology is no longer a ‘nice-to-have’ for embattled retailers,” says Neil Colquhoun, Vice President CISMEA and Professional Displays, Epson Europe B.V.

“Brands must use new tools to revolutionise their shops, which could help them create and maintain a competitive edge. Above all, they must harness the power of immersive and experiential shopping experiences to help revive their stores,”

For more information, The Experiential Future report is available for download here.

The report also shows that consumers are demanding more immersive experiences when it comes to events and attractions.