Regeneration and new store formats

In MORE Vision 4, we looked at a retail renaissance driven by seven major trends, including regeneration and new store formats. Retailers know that today’s discerning consumer wants more than just buying—they want a shopping experience that includes socialising and entertainment for the entire family. We looked at international retailers who have mastered the art of creating a truly unique retail experience.

Late last year, Swedish home products retailer IKEA held a ‘sleepover’ at its Lakeside store in the UK. The inaugural Big Sleepoverevent lasted 12 hours, and participants were the first 100 people aged 25 and over to reserve a bed on Facebook. When the guests arrived at the store at 8 p.m., they were greeted with hot chocolate, encouraged to change into pyjamas, and asked to choose their bed for the night (in the newly refurbished bedding department) before being entertained by special guests and given “sleepover treats.”

Across the pond, cosmetics retailer Sephora opened a limited edition Sensorium pop-up fragrance museum within the New York Museum in November. The museum, a colloaboration between Sephora and Swiss perfume maker Firmenich, was open for four weeks. Visitors took an interactive journey to learn about the history of perfume and the chemistry of fragrance, which included videos activated by breathing and an interactive fragrance bar.

In Dubai, shopping has become a vacation unto itself as thousands are currently attending the annual Dubai Shopping Festival. Visitors to the annual festival can explore 14 million ft2 of shopping space, including the world’s largest shopping centre, the Dubai Mall.

The event is so popular that travel companies are now offering festival packages to tourists. Visitors to the festival enjoy tax-free shopping, discounts of up to 50% on a wide variety of items and prizes in daily draws, and events ranging from live jazz to cartoon shows keep the entire family entertained.

Read more about hybrid stores! Or hear from Kate Acketill of GDR Creative Intelligence about her vision for retail of the very near future.

Get the lowdown on differenent approaches to city centre rejuvenation in the MAPIC 2011 Preview, page 42.

Watch this space for the next MORE Vision!

Every two months, MORE Vision by MAPIC will contribute to the retail real estate community’s knowledge base by exploring a key trend influencing retail property strategy today. Each issue of this multichannel and multi-tool service will include a presentation of a trend, with history, key figures and useful links. Questions raised will be opened up for debate on our social media platforms – the best comments and discussions will be summarised and published here on the MIPIMWorld blog.

MORE Vision 1 – Social shopping

MORE Vision 2 – Citysumers

More Vision 4 – Retail renaissance

View more presentations from MIPIMWorld

Join the debate on Twitter and LinkedIn.

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 Image: ~Pyb

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